September 2, 2011 – Superintendent of Financial Services Benjamin M. Lawsky Thursday announced that New York’s Department of Financial Services and Banking Department have entered into an agreement with Goldman Sachs Bank, Ocwen Financial Corp. and Litton Loan Servicing LP to adhere to landmark new Mortgage Servicing Practices. The agreement was required by the Superintendent as a condition to allowing Ocwen’s acquisition today of Goldman Sachs’ mortgage servicing subsidiary, Litton. With the Litton acquisition, Ocwen’s mortgage servicing entity, Ocwen Loan Servicing, LLC, will become the 12th largest servicer in the nation, handling a very large number of customers in foreclosure or facing possible foreclosure.
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