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If "Ocwen's practices had occurred under our new rules, even more violations would have been identified," CFPB Director Richard Cordray said.

Ocwen $2B Order Previews Sweeping Mortgage Servicing Changes

Although Ocwen Financial agreed to pay more than $2 billion to settle allegations it mishandled foreclosures and mortgages for thousands of borrowers, it could have been even worse for the country's largest nonbank servicer.

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