Mortgage servicer Ocwen Financial Corp (NYSE:OCN) disclosed in its regulatory filing this week that it had received a subpoena from the SEC over its close relationships with affiliated companies.
Ocwen’s management reportedly own stock or stock options in the affiliated companies.
Subpoena from SEC
In its regulatory filing this week, Ocwen Financial Corp (NYSE:OCN) disclosed that the Securities and Exchange Commission sought documents related to a group of companies with which it conducts business. The mortgage servicer’s executive chairman, William C. Erbey, is also chairman of some of the other companies, including Altisource Portfolio Solutions, which does things like buy up delinquent loans and rent out foreclosed houses.
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