New York banking regulator Benjamin Lawsky said Wednesday his office will investigate claims that Ocwen Financial Corp. (OCN) and other servicers require distressed borrowers to sign nondisclosure agreements in order to receive mortgage modifications.

"Reports that Ocwen is imposing a gag rule for certain struggling homeowners — preventing them from criticizing the company — are troubling and deeply offensive," the supervisor of the state Department of Financial Services said in an emailed statement. "We will investigate this issue immediately."

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