6004

The Consumer Financial Protection Bureau, authorities in 49 states, and the District of Columbia filed a proposed court order requiring the country's largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide 2 billion in principal reduction to underwater borrowers. Ocwen was also required to refund 125 million to the nearly 185,000 borrowers who had already been foreclosed upon and was required to adhere to significant new homeowner protections.