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Subprime Mortgage Loan Servicer Ocwen Agrees to $2.2 Billion Settlement

A $2.2 billion agreement is settling accusations against a large but little known player in the mortgage industry that escaped last year’s sweeping mortgage settlement.

The Ocwen Financial Corporation, which has ridden its specialty in servicing subprime loans to become the fourth-largest mortgage servicer in the country, was accused of improperly handling the loans of homeowners after the financial crisis.

via Subprime Mortgage Loan Servicer Ocwen Agrees to $2.2 Billion Settlement – NYTimes.com.

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