Ocwen Financial Corp. has agreed to pay a $1 million penalty for failing to meet requirements set out under a February 2014 consent judgment entered by the U.S. District Court for the District of Columbia.
The consent judgment resolved claims that Ocwen engaged in unlawful conduct in the servicing of residential mortgage loans and to remediate harms allegedly caused by such conduct.
A monitoring committee issued a motion to enforce the judgment after finding that Ocwen exceeded certain threshold error rates.
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