New York regulator Benjamin Lawsky raised concern about conflicts of interest in mortgage servicer Ocwen Financial's business relationships, warning that a "tangled web of conflicts could create incentives that harm borrowers and push homeowners unduly into foreclosure."

The New York Department of Financial Service superintendent demanded that Ocwen provide additional information and documentation about its ties to a group of companies chaired by William Erbey, who is also Ocwen's executive chairman. The affiliated companies are Altisource Portfolio Solutions, Altisource Residentail Corp., Altisource Asset Management Corp., and Home Loan Servicing Solutions.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.