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Ocwen Close to Servicing Settlement with Federal Regulators

Ocwen Close to Servicing Settlement with Federal Regulators

Ocwen Financial Corp. is close to reaching a settlement with federal regulators and it appears the giant servicer will agree to make cash payments to borrowers who were harmed during the foreclosure process.

“We are pleased to report that we have made significant progress toward an overall agreement,” Ocwen president and chief executive Ron Faris said Thursday.

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