Ocwen Defends Itself From Multiple Accusations Of Default

Ocwen is facing similar allegations from BlueMountain Capital and hedge funds represented by Gibbs & Bruns, both of which claim that Ocwen is in default

Last Friday BlueMountain Capital Management sent a letter claiming that Ocwen’s legal troubles, which have been extensive, effectively put the mortgage servicer into default (you can check it out here if you can stomach the legalese). The timing of the letter was a bit off since Ocwen has finally settled its dispute with California, and Ocwen says that it “intends to vigorously defend itself against the allegations in the letter.”

BlueMountain owns OCN debt while it shorts the stock

It might sound strange for there...