Wells Fargo's plans to unload a small portion of its mortgage servicing portfolio onto Ocwen Financial in a $2.7 billion deal came to a dramatic demise Thursday when New York's Department of ...

There's a key limitation, of course: Only Ocwen-serviced borrowers who are both underwater and unable to handle current loan payments are eligible.

A New York state regulator said it has ordered Ocwen Financial Corp to hire a monitor to make sure the growing mortgage servicer complies with a previous agreement to reform its practices.

NEW YORK (AP) — State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts.