Current Report Filing (8-k)
April 29 2015 - 06:08AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15 (d) of
the
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 27, 2015
OCWEN
FINANCIAL CORPORATION
(Exact
name of registrant as specified in its charter)
Florida |
|
1-13219 |
|
65-0039856 |
(State
or other jurisdiction of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
|
|
|
|
|
1000
Abernathy Road NE, Suite 210
Atlanta,
Georgia 30328
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (561) 682-8000
Not
applicable.
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
o |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On April 27, 2015, a motion seeking final approval of a proposed settlement Ocwen Financial Corporation (the "Company") reached in 2014, related to a class action lawsuit concerning Lender Placed Insurance ("LPI"), was filed with the United States District Court for the Southern District of Florida. Under the proposed settlement, a claims administration process will be set up whereby borrowers who were charged for LPI and either paid all or a portion of the charge or still owe the charge can submit a claim for settlement benefits. The Company established a reserve for its portion of the settlement during the third quarter of 2014, and believes that it is adequately reserved.
The Company decided to settle this matter to avoid prolonged and distracting litigation. The Company does not admit any liability or wrongdoing with respect to this matter. The Company believes the settlement is in the best interests of the Company and its borrowers, employees and shareholders. The Company remains committed to full compliance with all legal and regulatory requirements and helping homeowners.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, hereunto duly authorized.
|
OCWEN
FINANCIAL CORPORATION
(Registrant) |
|
|
|
Date:
April 29, 2015 |
By: |
/s/
Michael R. Bourque, Jr. |
|
|
Michael
R. Bourque, Jr. |
|
|
Executive Vice President & Chief
Financial Officer |
|
|
(On
behalf of the Registrant and as its principal financial officer) |
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Feb 2024 to Mar 2024
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Mar 2023 to Mar 2024