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Who bought Litton loan servicing?

Ocwen Financial Corporation Ocwen is a highly rated Special Servicer and prides itself on setting the standard for customer service.

What happened to Ocwen loan servicing?

An investigation into Ocwens foreclosure activities during the foreclosure crisis revealed extensive loan servicing misconduct, including: robosigning (where foreclosure documents were signed by people who didnt know whether the information contained in the documents was correct) charging improper fees.

Is Ocwen and PHH the same company?

Ocwen Financial Corporation is one of the leading non-bank mortgage servicing companies in America, servicing over 1.3 million customers through its primary brands PHH Mortgage and Liberty Reverse Mortgage. Ocwen, through its primary brands PHH and Liberty, serves over 1.3 million customers.

What is loan servicing in mortgage?

Loan servicing includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow funds), remitting funds to the note holder, and following up on any delinquencies.

What kind of company is Ocwen?

Ocwen Financial Corporation is a provider of residential and commercial mortgage loan servicing, special servicing, and asset management services, which has been described as debt collectors, collecting monthly principal and interest from homeowners.