CFPB Seeks To Intervene In $2B Ocwen False Claims Act Suit, Concerned its “Effectiveness as a Financial Regulator Could be Compromised”


CFPB Seeks To Intervene In $2B Ocwen False Claims Act Suit, Concerned its “Effectiveness as a Financial Regulator Could be Compromised”

Law360, New York (June 16, 2016, 3:30 PM ET) — The Consumer Financial Protection Bureau has asked a Texas federal court to let it intervene in a whistleblower suit alleging Ocwen Loan Servicing LLC gave false information to a federal loan program that allegedly netted executives $2 billion in incentive payments, saying it needs to protect confidential, privileged records pertaining to its supervision of Ocwen.

The CFPB filed the motion Monday in a False Claims Act suit against Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corp., over its participation in a U.S. Department of Treasury Home Affordable Modification Program in 2009, telling U.S. District Judge Amos Mazzant that its effectiveness as a financial regulator could be compromised if the information is made public.

“As the courts have long recognized, effective supervision of financial institutions depends upon the mutual assurance that communications between the examiners and the officials of the examined entities will remain confidential under the protection of the Federal bank examination privilege,” the motion said.

Relators Michael J. Fisher and Brian Bullock, who helped Ocwen’s clients modify their mortgage loans, filed the suit in 2014, alleging Ocwen lied about complying with the program guidelines of the Home Affordable Modification Program, which is designed to lower interest rates and payments, extend terms and forgive principal to help homeowners avoid foreclosure.

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29 Responses to “CFPB Seeks To Intervene In $2B Ocwen False Claims Act Suit, Concerned its “Effectiveness as a Financial Regulator Could be Compromised””
  1. lvent says:

    Imagine being forced into being vegetablized for the entertainment of spies namely the KGB?

    If you think it can’t happen to you it can because they’re out of control in the U.S. & their counterparts might be even worse by role playing they’re not in collusion with each other.

    They’ll say just comply with their tyranny & you can have limited freedom controlled by them which never happens because it’s criminally implausible to even be told that by these espionage informants by engaging in privacy fraud.

  2. lvent says:

    When JUDGE NAPOLITANO said they’re scrutinizing our thoughts he revealed what spies do.

    When everything you do in your private life is being harshly scrutinized just because someone wants to steal from you under false pretenses that’s living in peril.

    I was told by one clerk from the RECORDER OF DEEDS OFFICE I’m for the underdog meaning me.

    If that clerk really was he would not have immediately said I’m that & not say why.

    Little did I know I was being spied on heavily for being forced to defend my titles PRO SE to give them the distinct upper hand.

    That clerk was obviously informing to someone on what I was investigating there that day by other remarks he made that happened later.

    It’s entertainment for those who have nothing better to do but it’s the most horrible thing there is when you’re made the victim of it for trying to do something good in the world.

    To be made fun of for the struggles caused by the criminal wrongdoings of others is the cause of evil in the world who behave like 5th grade bullies.

    They’ve got the upperhand because they’re spies with too much money so call it UNJUST ENRICHMENT is not really what they want.

    They want to steal by deception because doing something meaningful with your life isn’t what they want.

    So they go for your dignity to try & discredit & ruin it for you which is criminally reprehensible.

    They’re spying on everyone to make sure they’re not doing something that would reveal them & everyone is by how they’re obviously being controlled like robots who can’t do nothing wrong but they’re doing everything wrong by doing so.

    When you think you’ve got nothing to hide they’ve got tons of metadata to prove otherwise so no one escapes their contrived scrutiny which is controversy in & of itself.

    They bring it & use it to spy so if you shrink from it you’ll be targeted.

    How do we know our conversations don’t get heavily scrutinized?

    Every word could mean something different to some one else because the CODEX is encrypted with their other meanings.

    So when they’re being so nosy it’s criminal you’ll know why is they’re robots.

  3. lvent says:

    If it sounds like I’m not over it, I’m over it.

    However, that doesn’t change the fact they should be ridiculed for trying to do that to me.

    If they think they’ve embarrassed me publicly by scrutinizing their own faults they’re falsifying evidence with impunity.

    They think they can treat people like children by AB– USE OF POWER so they can make themselves look good but they look like dictators.

    To those who think they can judge others by hearsay & speculation won’t escape their tyranny & that’s when they won’t think wrongful misjudgment theories to be entertainment.

    They’re the ones behaving like children by pretending they won’t ever be wrongfully scrutinized for nefarious reasons.

    When they think they’re doing everything right they’re going to find out they’re not so perfect to the tyrants.

    Everyone has hard times, however, when they’re manufactured to try & deprive you of something someone else wants that’s forced deprivation by tyrants.

    Treating people like children is what imbeciles do to criminally undermine them & it’s radicalism.

    Therefore, when it’s their turn they won’t get my sympathy for their plight either.

  4. lvent says:

    It’s like they’re on hallucinogens because they think they’re seeing SECURITIES that never existed.

    If LSD were legal they would be mixing it in everything to try & hide they’re hallucinating things that don’t exist.

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