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On December 19, CFPB and 49 states and the District of Columbia filed a proposed court order requiring Ocwen Financial Corporation, the fourth-largest mortgage servicer in the country, to provide $2 billion in principal reduction to underwater borrowers.
On December 19, CFPB and 49 states and the District
of Columbia filed a proposed court order requiring
Ocwen Financial Corporation, the fourth-largest
mortgage servicer in the country, to provide $2
billion in principal reduction to
underwater borrowers. Ocwen was previously charged with
engaging in illegal and deceitful foreclosure
practices and other violations. Press Release. Consent Order.
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