Ocwen expects another loss in 2017 thanks to NYDFS, CFPB regulatory issues

Despite the California Department of Business Oversight removing the state’s #mortgage servicing restrictions on Ocwen Financial, the nonbank is still prohibited from acquiring #mortgage servicing rights in bulk thanks to the company’s previous settlement with the New York Department of Financial Services, the company’s executives told investors on Wednesday. And those restrictions and other “regulatory challenges” will likely lead to another yearly loss for the nonbank. http://www.housingwire.com/articles/39300-ocwen-expects-another-loss-in-2017-thanks-to-nydfs-cfpb-regulatory-issues ❤️ #share #mortgage