New york letter dating ocwen mortgage

Other companies connected to Erbey, who lives in the U.S.

But shares of Ocwen are now down 60% this year. Ocwen is controlled and run by William Erbey, who built a complex mortgage servicing empire made up of several companies and became a billionaire as those companies soared in value in recent years.

“Ocwen’s indifference to such a serious matter demonstrates a troubling corporate culture that disregards the needs of struggling borrowers,” Lawsky wrote in his letter, adding that he intends to "take whatever action is necessary." Lawsky claims the company has still not adequately dealt with the issue. An Ocwen employee alerted the company about the backdating letter issue, but Lawsky claims the company ignored the problem for five months until the same employee raised it again. According to the letter sent by Lawsky, Ocwen told his department that the backdating problem applied to 6,100 letters, but that the independent monitor overseeing Ocwen who reports to Lawsky found an additional 1,000 backdated letters within a few days of extra investigation.