Issues an Enforcement Action Against Ocwen Loan Servicing, LLC
Nashville – The Tennessee Department of Financial Institutions (“Department”) issued today an enforcement action against Ocwen Loan Servicing to prohibit the company from acquiring new mortgage servicing rights or originating mortgage loans in Tennessee until it provides the Department with a plan to demonstrate an ability to operate in a sound manner. The action is in conjunction with other actions by regulators around the country.
Ocwen Loan Servicing is one of the largest non-bank loan servicers in the country, operating in 50 states, conducting mortgage loan servicing for approximately 1.5 million consumers nationwide. Ocwen has been licensed with the Department since 2004 and is servicing mortgage loans in Tennessee.
Consumers who have questions about Ocwen Loan Servicing may call the Department’s Consumer Resources Section at 800-778-4215 or 615-741-2236. FAQs and other basic information are provided on our website at http://tn.gov/tdfi/article/ocwen-action.