By its own admission, Ocwen Financial (OCN) is facing 21 pending investigations in 15 different states, is currently facing delisting by New York Stock Exchange for delaying the release of its annual report, and has run afoulof investors and homeowners alike.
Either in spite of or because of those issues, Ocwen said Thursday that it is offering indemnification agreements to each of the company’s directors and executive officers.
Ocwen disclosed the pending indemnification agreements in a filing with the Securities and Exchange Commission.
According to the filing, the company began offering indemnification agreements to its directors and executive officers on March 21. The filing states that the indemnification agreements are required by the company’s governing documents and are “consistent with common practice among public companies.”