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OCWEN LOAN SERVICING, LLC; 1661 Worthington Rd., Suite 100; West Palm Beach Fl 33409
September 27, 2017
PARTIES 1. Ocwen Financial Corporation (?OFC?) is a Florida corporation with headquarters in West Palm Beach, Florida. Ocwen Mortgage Servicing, Inc. (?OMS?) is a U.S. Virgin Islands corporation with headquarters in St. Croix, U.S. Virgin Islands and an NMLS unique identifier of 1089752. Ocwen Loan Servicing, LLC, (?OLS?) is a Delaware limited liability company with headquarters located in West Palm Beach, Florida and an NMLS unique identifier of 1852. OLS at all relevant times herein was a wholly-owned subsidiary of OMS, which was a wholly-owned subsidiary of OFC (collectively referred to herein as ?Ocwen?). 2. OLS is licensed as a mortgage lender and mortgage loan servicer in Maine. OMS is licensed as a mortgage servicer in Maine. 3. The Bureau of Consumer Credit Protection (the ?Bureau?) is the entity statutorily charged with the licensing and regulation of individuals and entities engaged in the business of residential mortgage lending and registration and regulation of entities engaged in the business of residential mortgage servicing in Maine pursuant to the Maine Consumer Credit Code (9-A M.R.S. ?1-101 et seq.) and bureau rule Chapter 240. FACTS 4. The Bureau, pursuant to its authority under Maine Revised Statute Title 9-A ?6- 108 issued a Cease and Desist Order on April 20, 2017 (?Cease and Desist Order?) that alleged violations of applicable state and federal laws and rules and regulations related to mortgage servicing. 5. On or about May 18, 2017, Ocwen filed an appeal of the Cease and Desist Order. AGREEMENT 6. The Bureau and Ocwen are executing this consent agreement (?Consent Agreement?) to avoid further proceedings. By entering into this Consent Agreement, Ocwen does not admit to the allegations of the Cease and Desist Order other than those facts deemed necessary to evidence the authority of the Bureau. 7. Ocwen and the Bureau have agreed to this Consent Agreement to resolve the Cease and Desist Order in its entirety. This Consent Agreement resolves only those issues raised in the Cease and Desist Order and does not alter or set aside any other orders, settlements, or agreements between Ocwen and the Bureau. Further, should new issues arise not addressed by either the Cease and Desist Order or this Consent Agreement, nothing in this Consent Agreement precludes the Bureau from taking further administrative action. 8. This agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. REQUEST FOR ORDER The parties hereby agree to the following Order: 9. Upon entry of this Consent Agreement, Ocwen will promptly take the actions described in Exhibit A and Exhibit B, which are hereby incorporated into this Consent Agreement. This Consent Agreement and Exhibit A and B shall be the Final Order in this case. 10. The Request for Proposal referenced in Exhibit A is attached and incorporated as Exhibit B. I 1. The Bureau agrees that, provided Ocwen complies with the terms of the Consent Order, it will not seek additional penalties related to the allegations contained in the Cease and Desist Order or the escrow review process described in Exhibits A and B. However, nothing in the Consent Order prohibits the Bureau from taking administrative action on new issues discovered during the pendency of the Consent Order, or thereafter. 12. The terms of the Consent Order may be enforced by the Bureau pursuant to 9-A M.R.S. $ 6-101 et seq., but the Bureau will provide Ocwen with an opportunity to meet and confer to discuss and attempt to resolve any allegations that Ocwen has violated the Consent Order seven calendar days before taking any action to enforce the Consent Order. 13. For the purposes of the Consent Order, and the requirements set forth in Exhibits A and B, the designated representative for the Bureau will be Mark E. Susi, Staff Attorney, mark.e.susi@maine.gov. The designated representative of Ocwen will be Michael Hollerich, Chief Compliance Offi cer, michael.hollerich@ocwen.com.
| Date: September 27, 2017 | /s/William N. Lund |
| William N. Lund | |
| Superintendent | |
| Bureau of Consumer Credit Protection |