Ocwen Financial is a financial services holding company which, through its subsidiaries, is engaged in the servicing and origination of mortgage loans. Co. has two segments: Servicing and Lending. The Servicing segment provides services to owners of mortgage loans and foreclosed real estate. In most cases, Co. provides these services either because it purchased the mortgage servicing rights (MSRs) from the owner of the mortgage or because it entered into a subservicing or servicing agreement with the entity that owns the MSRs. The lending segment primarily originates and purchases agency-conforming mortgage loans, mainly through correspondent lending.
Thu, Dec 5, 2:56 PM, Zacks Banks Faulted on Provision of NMS Deal - Analyst Blog Among major mortgage servicers comprising JPMorgan, BofA, Ally Financial, Citigroup and Wells Fargo, three banks have not yet complied with all the provisions of the National Mortgage Settlement (NMS) deal.
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