WASHINGTON — 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.

Under new rules to go into effect next month, all servicers will face greater responsibilities. Had those regulations already been in effect, Ocwen likely would have paid even more.

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.