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Transcript of New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to...
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
http://slidepdf.com/reader/full/new-york-department-of-financial-services-dfs-announces-ocwen-chairman 1/22
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DMZ WAXE _PCPM@MRCXPKMDP AI IGDCDOGCN _MXYGOM_
Gd tfm Kcttmr ai
AOZMD IGDCDOGCN OAXRAXCPGAD,AOZMD NACD _MXYGOGDJ, NNO
OAD_MDP AX@MX R]X_]CDP PA DMZ WAXE HCDEGDJ NCZ § 00
Pfm Dmw Ware _tctm @mpcrtkmdt ai Igdcdogcn _mrvgoms (tfm „@mpcrtkmdt‛) cd` Aowmd
Igdcdogcn Oarparctgad, tfm pcrmdt oakpcdy ai Aowmd Nacd _mrvgogdj, NNO (tajmtfmr, „Aowmd‛),
(oannmotgvmny, tfm „Rcrtgms‛) stgpunctm tfct<
ZFMXMC_, Aowmd gs tfm iaurtf ncrjmst kartjcjm nacd smrvgomr cd` tfm ncrjmst smrvgomr
ai suhprgkm nacds gd tfm ]dgtm` _tctms, smrvgogdj cd udpcg` prgdogpcn hcncdom („]RH‛) ai
cppraxgkctmny $0?2 hgnngad. Gd Dmw Ware cnadm, Aowmd smrvgoms dmcrny 3?2,222 rmsg`mdtgcn
fakm nacds wgtf c tatcn ]RH ai karm tfcd $?2 hgnngad.
ZFMXMC_, Aowmd gs c Dmw Ware _tctm-ngomdsm` kartjcjm hcdemr cd` kartjcjm nacd
smrvgomr, pursucdt ta tfm Dmw Ware Hcdegdj Ncw, cd` tfm @mpcrtkmdt gs rmspadsghnm iar gts
supmrvgsgad cd` rmjunctgad5
ZFMXMC_, gd tfm ncst igvm ymcrs, Aowmd fcs coqugrm` kartjcjm smrvgogdj rgjfts
(„K_Xs‛) iar fud`rm`s ai hgnngads ai `anncrs gd ]RH irak smvmrcn kclar smrvgomrs, gdonu`gdj
Ngttad Nacd _mrvgogdj NR („Ngttad‛), _cxad Kartjcjm _mrvgoms, Gdo. („_cxad‛), cd` Fakmwcr`
Xmsg`mdtgcn Fan`gdjs, Gdo. („Fakmwcr`‛)5
ZFMXMC_, gd 8232 cd` 8233, tfm kuntgstctm mxckgdctgads ai Aowmd, Ngttad, cd`
Fakmwcr` g`mdtgigm` dukmraus cd` sgjdgigocdt vganctgads ai Dmw Ware _tctm ncws cd`
rmjunctgads5
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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ZFMXMC_, ad _mptmkhmr 3, 8233, gd oaddmotgad wgtf Aowmd‗s coqugsgtgad ai Ngttad
cd` ckg` oadomrds rmjcr`gdj Aowmd‗s rcpg` jrawtf cd` ocpcogty ta prapmrny coqugrm cd` smrvgom
c sgjdgigocdt partianga ai `gstrmssm` fakm nacds, Aowmd cd` tfm @mpcrtkmdt mdtmrm` gdta cd
Cjrmmkmdt ad Kartjcjm _mrvgogdj Rrcotgoms (tfm „8233 Cjrmmkmdt‛), wfgof rmqugrm` Aowmd ta
c`fmrm ta omrtcgd smrvgogdj prcotgoms gd tfm hmst gdtmrmst ai harrawmrs cd` gdvmstars5
ZFMXMC_, c Ludm 8238 tcrjmtm` mxckgdctgad ai Aowmd rmvmcnm` tfct Aowmd vganctm`
tfm 8233 Cjrmmkmdt5
ZFMXMC_, cs c rmsunt ai Aowmd‗s vganctgad ai tfm 8233 Cjrmmkmdt, Aowmd mdtmrm`
gdta c Oadsmdt Ar`mr wgtf tfm @mpcrtkmdt ad @momkhmr =, 8238, wfgof rmqugrm` Aowmd ta rmtcgd
cd gd`mpmd`mdt oakpngcdom kadgtar (tfm „Oakpngcdom Kadgtar‛) iar twa ymcrs ta oad`uot c
oakprmfmdsgvm rmvgmw ai Aowmd‗s smrvgogdj apmrctgads5
ZFMXMC_, tfm @mpcrtkmdt cd` tfm Oakpngcdom Kadgtar g`mdtgigm` dukmraus cd`
sgjdgigocdt c``gtgadcn vganctgads ai tfm 8233 Cjrmmkmdt, cs wmnn cs Dmw Ware _tctm ncws cd`
rmjunctgads5
DAZ, PFMXMIAXM, ta rmsanvm tfgs kcttmr, tfm Rcrtgms cjrmm ta tfm iannawgdj<
Icots
3. Aowmd fcs jrawd karm tfcd tmd-ian` gd tfm ncst smvmrcn ymcrs. Hmjgddgdj gd 8227,
Aowmd sgjdgigocdtny mxpcd`m` gts smrvgogdj apmrctgads tfraujf tfm coqugsgtgad ai smvmrcn kclar
smrvgomrs ai fakm nacds, cs wmnn cs tfm coqugsgtgad ai K_Xs iar fud`rm`s ai hgnngads ai `anncrs gd
]RH. Irak tfm md` ai 8227 ta tfm md` ai 823?, Aowmd‗s smrvgogdj partianga jrmw irak ?=3,=7=
rmsg`mdtgcn nacds wgtf cd cjjrmjctm ]RH ai $=2 hgnngad ta 8,693,736 rmsg`mdtgcn nacds wgtf cd
cjjrmjctm ]RH ai $090.: hgnngad.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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8. Gd 8232 cd` 8233, tfm @mpcrtkmdt pcrtgogpctm` gd c kuntgstctm mxckgdctgad ai
Aowmd, cs wmnn cs mxckgdctgads ai Ngttad cd` Fakmwcr`, tfm mdtgtgms untgkctmny coqugrm` hy
Aowmd. Pfm mxckgdctgad ai Aowmd g`mdtgigm`, ckadj atfmr tfgdjs, `migogmdogms gd Aowmd‗s
smrvgogdj pnctiark cd` nass kgtgjctgad gdircstruoturm, gdonu`gdj (c) raha-sgjdgdj, (h) gdcoourctm
ciig`cvgts cd` icgnurm ta prapmrny vcng`ctm `aoukmdt mxmoutgad praomssms, (o) kgssgdj
`aoukmdtctgad, (`) wradjiun iarmonasurm, (m) icgnurm ta prapmrny kcgdtcgd haaes cd` rmoar`s, cd`
(i) gdgtgctgad ai iarmonasurm cotgads wgtfaut prapmr nmjcn stcd`gdj.
?. Pfm mxckgdctgads ai Ngttad cd` Fakmwcr` g`mdtgigm` suhstcdtgcn `migogmdogms,
wmcedmssms, cd` vganctgads ai ncws cd` rmjunctgads rmnctgdj ta, ckadj atfmr tfgdjs, iarmonasurm
javmrdcdom, gkpnmkmdtctgad ai ka`gigoctgad prajrcks, rmoar` emmpgdj, rmqugrm` datgigoctgads,
cd` tfm ofcrjgdj ai udcnnawchnm imms.
0. Pfm mxckgdctgad ai Ngttad cnsa rmvmcnm` tfct, prgar ta Aowmd‗s coqugsgtgad ai
Ngttad, kmkhmrs ai Ngttad‗s gdiarkctgad tmofdanajy stcii icnsgigm` `aoukmdts pravg`m` ta tfm
@mpcrtkmdt `urgdj tfm rmvgmw ai Ngttad‗s gdiarkctgad tmofdanajy gdircstruoturm.
=.
Gd oaddmotgad wgtf Aowmd‗s coqugsgtgad ai Ngttad gd 8233 cd` gd ngjft ai tfm
mxckgdctgad igd`gdjs iar hatf Aowmd cd` Ngttad, tfm @mpcrtkmdt saujft ta mdsurm tfct Aowmd
fc` suiigogmdt ocpcogty ta prapmrny coqugrm cd` kcdcjm c sgjdgigocdt partianga ai `gstrmssm` nacds,
gdonu`gdj tfm chgngty ta miimotgvmny kcdcjm tfm gdormcsm` vanukm cd` oakpny wgtf rmqugrmkmdts
ud`mr tfm im`mrcn Fakm Ciiar`chnm Ka`gigoctgad Rrajrck, gdtmrdcn nass kgtgjctgad pangogms cd`
praom`urms, cd` ncws cd` rmjunctgads javmrdgdj kartjcjm nacd smrvgogdj cd` iarmonasurm
cotgvgtgms.
9. Pa tfct md`, Aowmd cd` tfm @mpcrtkmdt mdtmrm` gdta cd Cjrmmkmdt ad Kartjcjm
_mrvgogdj Rrcotgoms ad _mptmkhmr 3, 8233, wfgof rmqugrm` Aowmd ta< (c) mstchngsf cd` kcgdtcgd
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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suiigogmdt ocpcogty ta prapmrny coqugrm cd` kcdcjm gts sgjdgigocdt partianga ai `gstrmssm` nacds ta
mdsurm c skaatf harrawmr trcdsgtgad5 (h) mdjcjm gd saud` `aoukmdt mxmoutgad cd` rmtmdtgad
prcotgoms ta mdsurm tfct kartjcjm ignms crm coourctm, oakpnmtm, cd` rmngchnm5 cd` (o) gkpnmkmdt c
systmk ai rahust gdtmrdcn oadtrans cd` avmrsgjft wgtf rmspmot ta kartjcjm smrvgogdj prcotgoms
pmriarkm` hy gts stcii cd` tfgr` pcrty vmd`ars ta prmvmdt gkprapmr iarmonasurms cd` kcxgkgzm
strujjngdj harrawmrs‗ appartudgtgms ta emmp tfmgr fakms.
:. Gd Ludm 8238, tfm @mpcrtkmdt oad`uotm` c tcrjmtm` mxckgdctgad ai Aowmd ta
cssmss gts oakpngcdom wgtf tfm 8233 Cjrmmkmdt cd` Rcrt 037 ai tfm _upmrgdtmd`mdt‗s
Xmjunctgads, wfgof javmrds husgdmss oad`uot runms iar smrvgomrs. Pfm mxckgdctgad g`mdtgigm`
jcps gd tfm smrvgogdj rmoar`s ai omrtcgd nacds tfct gd`goctm` rmpmctm` dad-oakpngcdom hy Aowmd,
gdonu`gdj< (c) icgngdj ta smd` harrawmrs c 72-`cy datgom prgar ta oakkmdogdj c iarmonasurm
cotgad cs rmqugrm` ud`mr Dmw Ware Xmcn Rrapmrty Cotgads cd` Rraomm`gdjs Ncw („XRCRN‛)
§ 3?20, (h) oakkmdogdj iarmonasurm cotgads ad suhprgkm nacds wgtfaut ciigrkctgvmny cnnmjgdj gd
tfm oakpncgdt tfct Aowmd fc` stcd`gdj ta hrgdj tfm iarmonasurm cotgad cs rmqugrm` hy XRCRN
§ 3?28, cd` (o) oakkmdogdj iarmonasurm cotgads wgtfaut suiigogmdt `aoukmdtctgad ai gts stcd`gdj
ta `a sa.
6. Pfm tcrjmtm` mxckgdctgad cnsa g`mdtgigm` gdstcdoms tfct gd`goctm` wg`msprmc` dad-
oakpngcdom wgtf tfm 8233 Cjrmmkmdt gdonu`gdj< (c) icgngdj ta pravg`m harrawmrs wgtf tfm `grmot
oadtcot gdiarkctgad iar tfmgr `msgjdctm` sgdjnm pagdt ai oadtcot, c oustakmr ocrm rmprmsmdtctgvm
wfasm ranm gs ta ud`mrstcd` mcof cssgjdm` harrawmr‗s ogroukstcdoms cd` fgstary ta mdsurm tfct
tfm harrawmr rmomgvms miigogmdt cd` oadsgstmdt oustakmr ocrm5 (h) `ucn-trcoegdj5 (o) icgngdj ta
oad`uot cd gd`mpmd`mdt rmvgmw ai nacd ka`gigoctgad `mdgcns5 (`) icgngdj ta `mkadstrctm c`aptgad
ai pangogms cd` praom`urms ta miimotgvmny trcoe scdotgadm` tfgr`-pcrty vmd`ars, gdonu`gdj naocn
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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iarmonasurm oaudsmn5 (m) icgngdj ta `mkadstrctm gkpnmkmdtctgad ai pangogms cd` praom`urms ta
vmrgiy harrawmr gdiarkctgad ad dmwny hacr`m` cooaudts ta coourctmny rminmot tfm stctus cd`
ourrmdt hcncdom ai tfm harrawmr‗s cooaudt5 cd` (i) icgngdj ta mdsurm tfct trgcn ar pmrkcdmdt
ka`gigoctgads jrcdtm` ta harrawmrs hy c prgar smrvgomr crm fadarm` upad trcdsimr ta Aowmd.
7. Oadsmqumdtny, ad @momkhmr =, 8238, Aowmd mdtmrm` gdta c Oadsmdt Ar`mr wgtf
tfm @mpcrtkmdt, wfgof rmqugrm` Aowmd ta rmtcgd cd gd`mpmd`mdt oakpngcdom kadgtar iar twa
ymcrs. Pfm Oadsmdt Ar`mr kcd`ctm` tfct tfm Oakpngcdom Kadgtar, wfgof waun` rmpart `grmotny
ta tfm @mpcrtkmdt, waun` „oad`uot c oakprmfmdsgvm rmvgmw . . . ai Aowmd‗s smrvgogdj
apmrctgads, gdonu`gdj gts oakpngcdom prajrck cd` apmrctgadcn pangogms cd` praom`urms.‛ Pfm
rmvgmw waun`, ct c kgdgkuk, oadsg`mr (c) tfm c`mqucoy ai Aowmd‗s stciigdj nmvmns, (h) tfm
rahustdmss ai Aowmd‗s mstchngsfm` pangogms cd` praom`urms, (o) tfm icgrdmss ai smrvgogdj imms cd`
iarmonasurm ofcrjms, (`) tfm coourcoy ai harrawmr cooaudt gdiarkctgad, (m) Aowmd‗s oakpngcdom
wgtf im`mrcn cd` stctm ncw, (i) harrawmr oakpncgdts cd` rmoar`gdjs ai oustakmr smrvgom, cd` (j)
Aowmd‗s oakpngcdom wgtf tfm Cjrmmkmdt.
32.
Pfm Oakpngcdom Kadgtar hmjcd ware gd Luny 823?.
33. Gd tfm oaursm ai tfm Oakpngcdom Kadgtar‗s rmvgmw, gt g`mdtgigm` dukmraus cd`
sgjdgigocdt vganctgads ai tfm 8233 Cjrmmkmdt, cs wmnn cs Dmw Ware _tctm ncws cd` rmjunctgads.
38. Iar mxckpnm, c ngkgtm` rmvgmw hy tfm Oakpngcdom Kadgtar ai 0:6 Dmw Ware nacds
tfct Aowmd fc` iarmonasm` upad rmvmcnm` 3,?=6 vganctgads ai Aowmd‗s nmjcn ahngjctgads, ar chaut
tfrmm vganctgads pmr iarmonasm` nacd. Pfmsm vganctgads gdonu`m`<
icgngdj ta oadigrk tfct gt fc` tfm rgjft ta iarmonasm hmiarm gdgtgctgdj iarmonasurm praomm`gdjs5
icgngdj ta mdsurm tfct gts stctmkmdts ta tfm oaurt gd iarmonasurm praomm`gdjs wmrmoarrmot5
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pursugdj iarmonasurm mvmd wfgnm ka`gigoctgad cppngoctgads wmrm pmd`gdj („`ucntrcoegdj‛)5
icgngdj ta kcgdtcgd rmoar`s oadigrkgdj tfct gt gs dat pursugdj iarmonasurm aismrvgomkmkhmrs ad cotgvm `uty5 cd`
icgngdj ta cssgjd c `msgjdctm` oustakmr ocrm rmprmsmdtctgvm.
3?. Pfm @mpcrtkmdt cd` tfm Oakpngcdom Kadgtar cnsa g`mdtgigm`, ckadj atfmr tfgdjs,
(c) gdc`mquctm cd` gdmiimotgvm gdiarkctgad tmofdanajy systmks cd` pmrsaddmn, cd` (h) wg`msprmc`
oadingots ai gdtmrmst wgtf rmnctm` pcrtgms.
Gdc`mquctm cd` Gdmiimotgvm Gdiarkctgad Pmofdanajy _ystmks cd` Rmrsaddmn
30. Gd tfm oaursm ai gts rmvgmw, tfm Oakpngcdom Kadgtar `mtmrkgdm` tfct Aowmd‗s
gdiarkctgad tmofdanajy systmks crm c pctofware ai nmjcoy systmks cd` systmks gdfmrgtm` irak
coqugrm` oakpcdgms, kcdy ai wfgof crm gdoakpctghnm. C irmqumdt aoourrmdom gs tfct c igx ta adm
systmk ormctms udgdtmd`m` oadsmqumdoms gd atfmr systmks. Cs c rmsunt, Aowmd rmjuncrny jgvms
harrawmrs gdoarrmot ar aut`ctm` gdiarkctgad, smd`s harrawmrs hcoe`ctm` nmttmrs, udrmngchny trcoes
`ctc iar gdvmstars, cd` kcgdtcgds gdcoourctm rmoar`s. Pfmrm crm gdsuiigogmdt oadtrans gd pncom ‐
mgtfmr kcducn ar cutakctm ̀‐ ta octof cnn ai tfmsm mrrars cd` rmsanvm tfmk.
3=. Iar mxckpnm, Aowmd‗s systmks fcvm hmmd hcoe`ctgdj nmttmrs iar ymcrs. Gd kcdy
ocsms, harrawmrs rmomgvm` c nmttmr `mdygdj c kartjcjm nacd ka`gigoctgad, cd` tfm nmttmr wcs `ctm`
karm tfcd ?2 `cys prgar ta tfm `ctm tfct Aowmd kcgnm` tfm nmttmr. Pfmsm harrawmrs wmrm jgvmd ?2
`cys irak tfm `ctm ai tfm `mdgcn nmttmr ta cppmcn tfct `mdgcn, hut tfasm ?2 `cys fc` cnrmc`y mncpsm`
hy tfm tgkm tfmy rmomgvm` tfm hcoe`ctm` nmttmr. Gd atfmr ocsms, Aowmd‗s systmks sfaw tfct
harrawmrs icogdj iarmonasurm rmomgvm` nmttmrs wgtf c `ctm hy wfgof ta ourm tfmgr `micunt cd` cvag`
iarmonasurm ‐ cd` tfm ourm `ctm wcs kadtfs prgar ta rmomgpt ai tfm nmttmr. Aowmd‗s praomssms
icgnm` ta g`mdtgiy cd` rmkm`y tfmsm mrrars.
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39. Karmavmr, Aowmd icgnm` ta iunny gdvmstgjctm cd` cppraprgctmny c``rmss tfm
hcoe`ctgdj gssum wfmd cd mkpnaymm qumstgadm` tfm coourcoy ai Aowmd‗s nmttmr `ctgdj praomssms
cd` cnmrtm` tfm oakpcdy‗s Ygom Rrmsg`mdt ai Oakpngcdom. Aowmd gjdarm` tfm gssum iar igvm
kadtfs udtgn tfm sckm mkpnaymm rcgsm` gt cjcgd. Zfgnm Aowmd tfmd hmjcd miiarts ta c``rmss tfm
hcoe`ctgdj gssum, gts gdvmstgjctgad wcs gdoakpnmtm cd` Aowmd fcs dat iunny rmsanvm` tfm gssum ta
`ctm, karm tfcd c ymcr citmr gts gdgtgcn `gsoavmry.
3:. Aowmd‗s oarm smrvgogdj iudotgads rmny ad gts gdc`mquctm systmks. _pmogigocnny,
Aowmd usms oakkmdt oa`ms mdtmrm` mgtfmr kcducnny ar cutakctgocnny ta smrvgom gts partianga5
mcof oa`m gdgtgctms c praomss, suof cs smd`gdj c `mngdqumdoy nmttmr ta c harrawmr, ar rmimrrgdj c
nacd ta iarmonasurm oaudsmn. Zgtf Aowmd‗s rcpg` jrawtf cd` coqugsgtgads ai atfmr smrvgomrs, tfm
dukhmr ai Aowmd‗s oakkmdt oa`ms fcs hcnnaadm` ta karm tfcd 6,022 suof oa`ms. Aitmd, `um ta
gdsuiigogmdt gdtmjrctgad iannawgdj coqugsgtgads ai atfmr smrvgomrs, tfmrm crm `upngoctm oa`ms tfct
pmriark tfm sckm iudotgad. Pfm rmsunt gs cd uddmomsscrgny oakpnmx systmk ai oakkmdt oa`ms,
gdonu`gdj, iar mxckpnm, =2 `giimrmdt oa`ms iar tfm sgdjnm iudotgad ai cssgjdgdj c strujjngdj
harrawmr c `msgjdctm` oustakmr ocrm rmprmsmdtctgvm.
36. @mspgtm tfmsm gssums, Aowmd oadtgdums ta rmny ad tfasm systmks ta smrvgom gts
partianga ai `gstrmssm` nacds. Aowmd‗s rmngcdom ad tmofdanajy fcs nm` gt ta mkpnay imwmr trcgdm`
pmrsaddmn tfcd gts oakpmtgtars. Iar mxckpnm, Aowmd‗s Ofgmi Igdcdogcn Aiigomr rmomdtny
coedawnm`jm`, gd rmimrmdom ta gts aiisfarm oustakmr ocrm pmrsaddmn, tfct Aowmd gs sgkpny
„trcgdgdj pmapnm ta rmc` tfm sorgpts cd` tfm `gcnajum mdjgdms wgtf immngdj.‛ Aowmd‗s pangoy gs ta
rmqugrm oustakmr suppart stcii ta iannaw tfm sorgpts onasmny, cd` Aowmd pmdcngzms cd` fcs
tmrkgdctm` oustakmr suppart stcii wfa icgn ta iannaw tfm sorgpts tfct cppmcr ad tfmgr oakputmr
sormmds. Gd sakm ocsms, tfgs pangoy fcs irustrctm` strujjngdj harrawmrs wfa fcvm oakpnmx gssums
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tfct mxomm` tfm haud`s ai c sorgpt cd` fcvm gssums spmcegdj wgtf rmprmsmdtctgvms ct Aowmd
ocpchnm ai c``rmssgdj tfmgr oadomrds. Karmavmr , Aowmd‗s oustakmr ocrm rmprmsmdtctgvms gd kcdy
ocsms pravg`m oadingotgdj rmspadsms ta c harrawmr‗s qumstgad. Xmprmsmdtctgvms fcvm cnsa icgnm` gd
kcdy ocsms ta rmoar` gd Aowmd‗s smrvgogdj systmk tfm dcturm ai tfm oadomrds tfct c harrawmr fcs
mxprmssm`, nmc`gdj ta gdcoourctm rmoar`s ai tfm gssums rcgsm` hy tfm harrawmr.
37. Aowmd‗s gdc`mquctm gdircstruoturm cd` gdmiimotgvm pmrsaddmn fcvm rmsuntm` gd
Aowmd‗s icgnurm ta iunignn gts nmjcn ahngjctgads. Rrgar ta tfm @mpcrtkmdt‗s cd` tfm Oakpngcdom
Kadgtar‗s rmvgmw, Aowmd `g` dat tcem c`mquctm stmps ta gkpnmkmdt rmiarks tfct gt wcs nmjcnny
ahngjctm` ta gkpnmkmdt pursucdt ta tfm 8233 Cjrmmkmdt.
Zg`msprmc` Oadingots ai Gdtmrmst wgtf Xmnctm` Rcrtgms
82. Pfm @mpcrtkmdt‗s r mvgmw ai Aowmd‗s kartjcjm smrvgogdj prcotgoms cnsa
udoavmrm` c dukhmr ai oadingots ai gdtmrmst hmtwmmd Aowmd cd` iaur atfmr puhngo oakpcdgms (tfm
„rmnctm` pcrtgms‛),3 cnn ai wfgof crm ofcgrm` hy Kr. Mrhmy, wfa gs cnsa tfm ncrjmst gd`gvg`ucn
sfcrmfan`mr ai mcof cd` tfm Mxmoutgvm Ofcgrkcd ai Aowmd. Gd c``gtgad ta smrvgdj cs ofcgrkcd
ai tfm hacr` iar Aowmd cd` mcof rmnctm` oakpcdy, Kr. Mrhmy‗s fan`gdjs gd tfmsm oakpcdgms tatcn
karm tfcd $3 hgnngad. Atfmr Aowmd mxmoutgvms cd` `grmotars cnsa awd sgjdgigocdt gdvmstkmdts gd
hatf Aowmd cd` tfm rmnctm` pcrtgms. Wmt, Aowmd `ams dat fcvm c wrgttmd pangoy tfct mxpngogtny
rmqugrms patmdtgcnny oadingotm` mkpnaymms, aiigomrs, ar `grmotars ta rmousm tfmksmnvms irak
gdvanvmkmdt gd trcdscotgads wgtf tfm rmnctm` oakpcdgms.
3 Pfm rmnctm` pcrtgms crm, cs ai tfm `ctm ai tfgs Oadsmdt Ar`mr, Cntgsaurom Rartianga _anutgads, _.C.(„Cntgsaurom Rartianga‛), Cntgsaurom Xmsg`mdtgcn Oarparctgad, Cntgsaurom Cssmt Kcdcjmkmdt Oarparctgad,cd` Fakm Nacd _mrvgogdj _anutgads Nt`., cd` cdy ai tfmgr ciigngctms, prm`momssars cd` suoomssars gdgdtmrmst, hatf pcst cd` prmsmdt, cd` cdy ai tfmgr aiigomrs, `grmotars, pcrtdmrs, mkpnaymms, oadsuntcdts,rmprmsmdtctgvms, cd` cjmdts ar atfmr pmrsads cd` mdtgtgms cotgdj ud`mr tfmgr oadtran ar ad tfmgr hmfcni.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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83. @mspgtm Kr. Mrhmy‗s fan`gdjs gd tfmsm oakpcdgms, Kr. Mrhmy fcs dat gd icot
rmousm` fgksmni irak cppravcns ai smvmrcn trcdscotgads wgtf tfm rmnctm` pcrtgms. Kr. Mrhmy, wfa
awds cppraxgkctmny 3=% ai Aowmd‗s staoe, cd` dmcrny `auhnm tfct pmromdtcjm ai tfm staoe ai
Cntgsaurom Rartianga, fcs pcrtgogpctm` gd tfm cppravcn ai c dukhmr ai trcdscotgads hmtwmmd tfm
twa oakpcdgms ar irak wfgof Cntgsaurom rmomgvm` sakm hmdmigt, gdonu`gdj tfm rmdmwcn ai
Aowmd‗s iar om` pncom` gdsurcdom prajrck gd mcrny 8230.
88. Aowmd‗s onasm husgdmss rmnctgadsfgp wgtf rmnctm` oakpcdgms gs pcrtgouncrny mvg`mdt
gd gts rmnctgadsfgp wgtf Cntgsaurom Rartianga, wfgof fcs `azmds ai suhsg`gcrgms tfct pmriark imm-
hcsm` smrvgoms iar Aowmd. Gd adm mxckpnm, Cntgsaurom Rartianga suhsg`gcry Fuhzu, cd adngdm
cuotgad sgtm, fasts dmcrny cnn Aowmd cuotgads. Gd omrtcgd ogroukstcdoms, Fuhzu fcs ofcrjm` karm
iar gts smrvgoms ta Aowmd tfcd ta atfmr oustakmrs ‐ ofcrjms wfgof crm tfmd pcssm` ad ta
harrawmrs cd` gdvmstars. Karmavmr, Aowmd mdjcjms Cntgsaurom Rartianga suhsg`gcry XMCNFakm
_mrvgoms cd` _anutgads, Gdo. cs gts `micunt rmcn mstctm cjmdoy iar sfart scnms cd` gdvmstar-awdm`
prapmrtgms, mvmd tfaujf tfgs cjmdoy prgdogpcnny mkpnays aut-ai-stctm cjmdts wfa `a dat pmriark
tfm adsgtm ware tfct naocn cjmdts pmriark, ct tfm sckm oast ta harrawmrs cd` gdvmstars.
8?. Oadingots ai gdtmrmst crm mvg`mdt ct atfmr nmvmns ai tfm Aowmd arjcdgzctgad. Iar
mxckpnm, `urgdj gts rmvgmw, tfm Kadgtar `gsoavmrm` tfct Aowmd‗s Ofgmi Xgse Aiigomr
oadourrmdtny smrvm` cs tfm Ofgmi Xgse Aiigomr ai Cntgsaurom Rartianga. Pfm Ofgmi Xgse Aiigomr
rmpartm` `grmotny ta Kr. Mrhmy gd hatf ocpcogtgms. Pfgs gd`gvg`ucn smmkm` dat ta cpprmogctm tfm
patmdtgcn oadingots ai gdtmrmst pasm` hy tfgs `ucn ranm, wfgof wcs ai pcrtgouncr oadomrd jgvmd fgs
ranm cs Ofgmi Xgse Aiigomr.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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_mttnmkmdt Rravgsgads
Kadmtcry Rcykmdt
80. Aowmd wgnn pcy tfm ckaudt ai $3=2 kgnngad cs iannaws<
c. $322 kgnngad pcg` ta tfm @mpcrtkmdt hy @momkhmr ?3, 8230, cs c ogvgn kadmtcry
pmdcnty pursucdt ta Dmw Ware Hcdegdj Ncw § 00, ta hm usm` hy tfm _tctm ai Dmw
Ware iar fausgdj, iarmonasurm rmngmi, cd` oakkudgty rm`mvmnapkmdt prajrcks
suppartgdj Dmw Ware‗s fausgdj rmoavmry5 cd`
h. $=2 kgnngad `mpasgtm` gdta cd gdtmrmst-hmcrgdj msoraw cooaudt hy @momkhmr ?3,
8230, ta hm pcg` cs rmstgtutgad ta ourrmdt cd` iarkmr Aowmd-smrvgom` harrawmrs gd
Dmw Ware, cs iannaws<
g.
$32,222 ta mcof harrawmr wfasm fakm wcs iarmonasm` upad hy Aowmd
hmtwmmd Lcducry 3, 8227, cd` tfm `ctm ai tfgs Oadsmdt Ar`mr5 cd`
gg. Pfm hcncdom ai tfm $=2 kgnngad ta hm `gstrghutm` mqucnny ckadj harrawmrs
wfa fc` iarmonasurm cotgads ignm` cjcgdst tfmk hy Aowmd hmtwmmd Lcducry
3, 8227, cd` tfm `ctm ai tfgs Oadsmdt Ar`mr, hut gd wfgof Aowmd `g` dat
oakpnmtm suof iarmonasurm.
8=. Aowmd cjrmms tfct gt wgnn dat oncgk, cssmrt, ar cppny iar c tcx `m`uotgad ar tcx
orm`gt wgtf rmjcr` ta cdy ]._. im`mrcn, stctm, ar naocn tcx, `grmotny ar gd`grmotny, iar cdy partgad ai
tfm ckaudt pcg` pursucdt ta tfgs Oadsmdt Ar`mr.
Harrawmr Cssgstcdom
89. Iar harrawmrs rmomgvgdj pcykmdts pursucdt ta Rcrcjrcpf 80(h)(gg), Aowmd wgnn
mvcnuctm suof harrawmrs iar cnn cppngochnm ka`gigoctgads cd` atfmr iarmonasurm cntmrdctgvms gd
ngjft ai tfmgr gkpravm` igdcdogcn oad`gtgad rmsuntgdj irak suof pcykmdt.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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8:. Hmjgddgdj sgxty (92) `cys citmr tfm `ctm ai mxmoutgad ai tfm Oadsmdt Ar`mr, cd`
iar c pmrga` ai twa ymcrs tfmrmcitmr, Aowmd wgnn pravg`m upad rmqumst hy c Dmw Ware harrawmr
tfct harrawmr‗s oakpnmtm nacd ignm, wfgof gdonu`ms cnn gdiarkctgad irak cnn systmks, gdonu`gdj
oakkmdt oa`ms, ct da oast ta tfm harrawmr , rmjcr`nmss ai wfmtfmr suof harrawmr‗s nacd gs stgnn
smrvgom` hy Aowmd.
86. Hmjgddgdj sgxty (92) `cys citmr tfm `ctm ai mxmoutgad ai tfm Oadsmdt Ar`mr,
Aowmd wgnn pravg`m mvmry Dmw Ware harrawmr wfa gs `mdgm` c ka`gigoctgad, sfart scnm, ar `mm`-
gd-ngmu ai iarmonasurm, c `mtcgnm` mxpncdctgad ai tfm rmcsads iar `mdgcn.
87.
Hmjgddgdj sgxty (92) `cys citmr tfm `ctm ai mxmoutgad ai tfgs Oadsmdt Ar`mr, iar cnn
Dmw Ware harrawmrs wfa fcvm hmmd rmpartm` dmjctgvmny hy Aowmd ta orm`gt cjmdogms sgdom
Lcducry 3, 8232, Aowmd wgnn pravg`m upad rmqumst ct da oast c oapy ai suof harrawmr‗s orm`gt
rmpart (gdonu`gdj orm`gt soarms) da karm tfcd adom c ymcr , rmjcr`nmss ai wfmtfmr suof harrawmr‗s
nacd gs stgnn smrvgom` hy Aowmd. Aowmd wgnn kcem suiigogmdt stcii cvcgnchnm iar harrawmrs ta
gdqugrm chaut tfmgr orm`gt rmpartgdj cd` wgnn `m`goctm tfm rmsauroms dmomsscry ta gdvmstgjctm suof
gdqugrgms cd` prakptny oarrmot cdy mrrars.
?2. Pfm Apmrctgads Kadgtar wgnn avmrsmm Aowmd‗s oakpngcdom wgtf tfmsm harrawmr
cssgstcdom pravgsgads cd` wgnn ware wgtf Aowmd ta `mvmnap cppraprgctm praom`urms iar suof
oakpngcdom.
Apmrctgads Kadgtar
?3. Pfm @mpcrtkmdt wgnn smnmot gd gts sanm `gsormtgad cd gd`mpmd`mdt ad-sgtm apmrctgads
kadgtar (tfm „Apmrctgads Kadgtar‛) tfct wgnn rmpart `grmotny ta tfm @mpcrtkmdt.
?8. Pfm Apmrctgads Kadgtar wgnn rmvgmw cd` cssmss tfm c`mqucoy cd` miimotgvmdmss ai
Aowmd‗s apmrctgads. _uof cd cssmsskmdt wgnn gdonu`m hut gs dat ngkgtm` ta tfm iannawgdj crmcs<
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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c. Gdiarkctgad tmofdanajy systmks cd` pmrsaddmn, gdonu`gdj wgtf rmspmot ta rmoar`
emmpgdj cd` harrawmr oakkudgoctgads5
h. Dukhmr ai pmrsaddmn cd` tfm trcgdgdj cd` mxpmrtgsm ai gts pmrsaddmn gd cnn
smrvgogdj apmrctgads5
o. Adhacr`gdj praomss iar dmwny coqugrm` kartjcjm smrvgogdj rgjfts, gdonu`gdj
Aowmd‗s chgngty ta adhacr` dmwny coqugrm` K_Xs wgtfaut gdtmrruptgad ta
smrvgogdj dmwny coqugrm` nacds ar gts mxgstgdj nacd partianga5
`. Oadtrans gd g`mdtgiygdj cd` oarrmotgdj mrrars kc`m hy Aowmd‗s pmrsaddmn ar
systmks5
m. Xgse kcdcjmkmdt iudotgads5
i.
Oadtrcots ar prapasm` oadtrcots wgtf tfgr` pcrtgms, gdonu`gdj hut dat ngkgtm` ta
rmnctm` pcrtgms5
j. Imms ofcrjm` hy Aowmd ta harrawmrs ar kartjcjm gdvmstars5 cd`
f. Pfm Aowmd harrawmr mxpmrgmdom.
??.
Pfm Apmrctgads Kadgtar wgnn g`mdtgiy tfm orgtmrgc iar `mtmrkgdgdj wfct oadstgtutms
c „rmnctm` pcrty‛ iar purpasms ai oakpngcdom wgtf tfgs Oadsmdt Ar`mr.
?0. Pfm purvgmw ai tfm Apmrctgads Kadgtar wgnn mxtmd` ta cnn kcttmrs `grmotny ar
gd`grmotny ciimotgdj Dmw Ware harrawmrs, gdonu`gdj kcttmrs tfct ciimot harrawmrs gd cnn stctms ar
gd kuntgpnm stctms tfct gdonu`m Dmw Ware.
?=. Pfm Apmrctgads Kadgtar wgnn g`mdtgiy dmm`m` oarrmotgvm kmcsurms ta c``rmss
g`mdtgigm` wmcedmssms cd` `migogmdogms gd Aowmd‗s apmrctgads, kcem rmoakkmd`ctgads ta Aowmd
cd` ta tfm _upmrgdtmd`mdt, cd` avmrsmm gkpnmkmdtctgad ai rmiarks. Pfm Apmrctgads Kadgtar wgnn
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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3?
cnsa `mvmnap hmdofkcres cjcgdst wfgof ta cssmss Aowmd‗s prajrmss gd oakpnygdj wgtf
rmoakkmd`m` oarrmotgvm kmcsurms.
?9. Pfm Apmrctgads Kadgtar wgnn rmvgmw cd` cssmss Aowmd‗s ourrmdt oakkgttmms ai
tfm Hacr` ai @grmotars. Aowmd Igdcdogcn Oarparctgad‗s Hacr` ai @grmotars (tfm „Hacr`‛) wgnn
oadsunt wgtf tfm Apmrctgads Kadgtar oadomrdgdj, ckadj atfmr tfgdjs, tfm struoturm, oakpasgtgad,
cd` rmpartgdj ngdms ai suof oakkgttmms, cd` wfmtfmr omrtcgd oakkgttmms sfaun` hm mgtfmr
`gshcd`m` ar ormctm`.
?:. Pfm Hacr` wgnn oadsunt wgtf tfm Apmrctgads Kadgtar ta `mtmrkgdm wfgof `mogsgads
sfaun` hm oakkgttm` ta tfm spmogigo avmrsgjft ai tfm Hacr`‗s gd`mpmd`mdt `grmotars, ar c
oakkgttmm oakprgsm` ai suof gd`mpmd`mdt `grmotars, gdonu`gdj, hut dat ngkgtm` ta<
c.
Cppravcn ai trcdscotgads wgtf rmnctm` pcrtgms5
h. Cppravcn ai trcdscotgads ta coqugrm kartjcjm smrvgogdj rgjfts, suh-smrvgogdj
rgjfts, ar atfmrwgsm ta gdormcsm tfm dukhmr ai nacds smrvgom` hy Aowmd5
o. Cppravcn ai dmw rmnctgadsfgps wgtf tfgr`-pcrty vmd`ars5
`.
@mtmrkgdctgads cs ta wfmtfmr Aowmd‗s smrvgogdj, oakpngcdom, cd` gdiarkctgad
tmofdanajy iudotgads crm c`mquctmny stciim`5
m. @mtmrkgdctgads cs ta wfmtfmr Aowmd‗s smrvgogdj, oakpngcdom, cd` gdiarkctgad
tmofdanajy pmrsaddmn crm c`mquctmny trcgdm`5
i. @mtmrkgdctgads cs ta wfmtfmr Aowmd‗s gdiarkctgad tmofdanajy gdircstruoturm cd`
adjagdj gdvmstkmdt gd gdiarkctgad tmofdanajy systmks crm c`mquctm5
j. @mtmrkgdctgads cs ta wfmtfmr Aowmd gs c`mquctmny c``rmssgdj tfm gssums
g`mdtgigm` hy tfm Apmrctgads Kadgtar cd` tfm Oakpngcdom Kadgtar5 cd`
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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f. @mtmrkgdctgads cs ta wfmtfmr Aowmd gs trmctgdj harrawmrs icgrny cd` gs
oakkudgoctgdj wgtf harrawmrs cppraprgctmny.
?6. Pfm Hacr` wgnn oadsunt wgtf tfm Apmrctgads Kadgtar ta `mtmrkgdm wfmtfmr cdy
kmkhmr ai smdgar kcdcjmkmdt sfaun` hm tmrkgdctm` ar wfmtfmr c``gtgadcn aiigomrs sfaun` hm
rmtcgdm` ta cofgmvm tfm jacns ai oakpnygdj wgtf tfgs Oadsmdt Ar`mr, cd` cnn cppngochnm ncws,
rmjunctgads, cd` cjrmmkmdts, cs wmnn cs ormctgdj c oarparctm ounturm ai mtfgos, gdtmjrgty,
oakpngcdom, cd` rmspadsgvmdmss ta harrawmrs.
?7. Aowmd kcy coqugrm K_Xs upad (c) kmmtgdj hmdofkcres `mvmnapm` hy tfm
Apmrctgads Kadgtar oadomrdgdj tfm c`mqucoy ai Aowmd‗s adhacr`gdj praomss iar dmwny coqugrm`
K_Xs cd` gts chgngty ta c`mquctmny smrvgom hatf tfasm dmwny coqugrm` K_Xs cd` gts mxgstgdj nacd
partianga, cd` (h) tfm @mpcrtkmdt‗s cppravcn, dat ta hm udrmcsadchny wgtffmn`. Pfm Apmrctgads
Kadgtar wgnn cot wgtf rmcsadchnm mxpm`gtgad ta `mvmnap suof hmdofkcres gd oadsuntctgad wgtf
Aowmd. Pfmsm hmdofkcres wgnn c``rmss, ct c kgdgkuk, tfm iannawgdj<
c. Pfm `mvmnapkmdt cd` gkpnmkmdtctgad ai c sctgsicotary oakpngcdom pncd5
h.
Pfm `mvmnapkmdt cd` gkpnmkmdtctgad ai c pncd ta rmsanvm rmoar`-emmpgdj cd`
harrawmr oakkudgoctgad gssums5
o. Pfm rmcsadchnmdmss ai imms cd` mxpmdsms ofcrjm` ta harrawmrs cd` kartjcjm
gdvmstars, gdonu`gdj tfasm ofcrjm` `grmotny ar gd`grmotny hy rmnctm` pcrtgms5
`. Pfm `mvmnapkmdt cd` pmriarkcdom ai c rgse cssmsskmdt ta g`mdtgiy patmdtgcn rgses
cd` `migogmdogms gd tfm adhacr`gdj praomss5 cd`
m. Pfm `mvmnapkmdt ai c wrgttmd adhacr`gdj pncd tfct c``rmssms patmdtgcn rgses cd`
`migogmdogms, gdonu`gdj tmstgdj cd` qucngty oadtran rmvgmw pmrga`gocnny `urgdj tfm
adhacr`gdj praomss.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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3=
02. Pfm Apmrctgads Kadgtar wgnn smkg-cdducnny rmvgmw cd` cppravm Aowmd‗s
hmdofkcre prgogdj cd` pmriarkcdom stu`gms wgtf rmspmot ta cnn imms ar mxpmdsms ofcrjm` ta Dmw
Ware harrawmrs hy cdy rmnctm` pcrty.
03. Pfm Apmrctgads Kadgtar wgnn avmrsmm cd` mdsurm Aowmd‗s gkpnmkmdtctgad cd`
c`fmrmdom ta tfm tmrks ai tfgs Oadsmdt Ar`mr.
08. Zgtfgd adm fud`rm` twmdty (382) `cys ai tfm `ctm ai tfm iarkcn mdjcjmkmdt ai
tfm Apmrctgads Kadgtar, tfm Apmrctgads Kadgtar wgnn suhkgt ta tfm Rcrtgms c prmngkgdcry wrgttmd
rmpart ai igd`gdjs, gdonu`gdj, ta tfm mxtmdt tfm Apmrctgads Kadgtar fcs fc` tfm appartudgty ta
`mvmnap tfmk, cdy prapasm` oarrmotgvm kmcsurms cd` cssaogctm` hmdofkcres (tfm „Apmrctgads
Xmpart‛). Pfm Apmrctgads Kadgtar wgnn suhkgt wrgttmd kadtfny cotgad prajrmss rmparts
(„Rrajrmss Xmparts‛) ta tfm Rcrtgms. Ad c qucrtmrny hcsgs, stcrtgdj dgdmty (72) `cys irak tfm `ctm
ai tfm igrst Apmrctgads Xmpart, tfm Apmrctgads Kadgtar wgnn gssum cd Apmrctgads Xmpart oavmrgdj
tfm tfrmm-kadtf pmrga` gkkm`gctmny prmom`gdj.
0?. Aowmd cjrmms ta oaapmrctm iunny wgtf tfm Apmrctgads Kadgtar hy, gdonu`gdj hut
dat ngkgtm` ta, pravg`gdj tfm Apmrctgads Kadgtar coomss ta cnn rmnmvcdt pmrsaddmn cd` rmoar`s
dmomsscry ad c rmcn-tgkm hcsgs, gdonu`gdj tfasm ct cdy avmrsmcs naoctgads, cd` gdonu`gdj
gdiarkctgad ad husgdmss `mogsgads pmrtgdmdt ta tfm ware ai tfm Apmrctgads Kadgtar ourrmdtny
pmd`gdj ar rmomdtny kc`m hy Aowmd kcdcjmkmdt ar gts Hacr` ai @grmotars, ta cnnaw tfm
Apmrctgads Kadgtar ta iunignn gts `utgms.
00. Cdy `gsputm cs ta tfm soapm ai tfm Apmrctgads Kadgtar‗s cutfargty wgnn hm rmsanvm`
hy tfm @mpcrtkmdt gd tfm mxmrogsm ai gts sanm `gsormtgad citmr cppraprgctm oadsuntctgad wgtf Aowmd
cd`/ar tfm Apmrctgads Kadgtar.
0=. Aowmd wgnn pcy cnn rmcsadchnm cd` dmomsscry oasts ai tfm Apmrctgads Kadgtar.
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09. Pfm tmrks ai tfm Apmrctgads Kadgtar wgnn mxtmd` iar c pmrga` ai twmdty-iaur (80)
kadtfs irak tfm `ctm ai iarkcn mdjcjmkmdt wfgof sfcnn hm da nctmr tfcd Kcy 3, 823=. Pfm
@mpcrtkmdt kcy, gd gts sanm `gsormtgad, mxtmd` tfm mdjcjmkmdt cdatfmr twmnvm (38) kadtfs gi tfm
@mpcrtkmdt `mtmrkgdms tfct Aowmd fcs dat suiigogmdtny cofgmvm` hmdofkcres g`mdtgigm` hy tfm
Apmrctgads Kadgtar.
Oakpngcdom Kadgtar
0:. Pfm Oakpngcdom Kadgtar wgnn rmkcgd mdjcjm` iar ct nmcst tfrmm (?) kadtfs irak
tfm mxmoutgad ai tfgs Oadsmdt Ar`mr. Pfm @mpcrtkmdt kcy, gd gts sanm ̀ gsormtgad, mxtmd` tfm
mdjcjmkmdt ai tfm Oakpngcdom Kadgtar iar c pmrga` dat ta mxomm` cd c``gtgadcn tfrmm (?)
kadtfs.
06.
Iannawgdj oakpnmtgad ai tfm Oakpngcdom Kadgtar‗s mdjcjmkmdt, tfm Apmrctgads
Kadgtar kcy ocnn upad tfm Oakpngcdom Kadgtar ta pmriark ware tfct `rcws ad tfm Oakpngcdom
Kadgtar‗s gdstgtutgadcn edawnm`jm ai Aowmd.
07. Rrgar ta tfm Apmrctgads Kadgtar‗s mdjcjmkmdt cd` iar c sfart trcdsgtgadcn pmrga`
tfmrmcitmr dat ta mxomm` iarty-igvm (0=) `cys, tfm @mpcrtkmdt kcy gd gts sanm `gsormtgad `grmot tfm
Oakpngcdom Kadgtar ta ignn cdy ai tfm ranms ai tfm Apmrctgads Kadgtar `msorghm` gd tfgs Oadsmdt
Ar`mr.
Hacr` ai @grmotars
=2. Aowmd Igdcdogcn Oarparctgad wgnn mxpcd` gts Hacr` ai @grmotars hy twa
gd`mpmd`mdt hacr` kmkhmrs (tfm „C``gtgadcn @grmotars‛) gd oadsuntctgad wgtf tfm Oakpngcdom
Kadgtar ar tfm Apmrctgads Kadgtar.
=3. Pfm C``gtgadcn @grmotars wgnn dat awd mqugty gd cdy rmnctm` pcrty.
=8. Aowmd‗s Hacr` wgnn oadtcgd da karm tfcd twa mxmoutgvm `grmotars ct cdy tgkm.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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3:
Oadingots ai Gdtmrmst
=?. Zgtf rmspmot ta kartjcjm nacds smrvgom` hy Aowmd, Aowmd wgnn oad`uot smkg-
cdducn hmdofkcregdj stu`gms ai prgogdj cd` pmriarkcdom stcd`cr`s wgtf rmspmot ta cnn imms ar
mxpmdsms ofcrjm` ta Dmw Ware harrawmrs ar ta gdvmstars ad Dmw Ware prapmrty hy cdy rmnctm`
pcrty, ta `mtmrkgdm wfmtfmr tfm tmrks aiimrm` hy tfm rmnctm` pcrty crm oakkmdsurctm wgtf kcremt
rctms ar, gi kcremt rctms crm dat cvcgnchnm, crm rmcsadchny rmnctm` ta cotucn mxpmdsms gdourrm` hy
tfm rmnctm` pcrty. Kcxgkuk rctms iar smrvgoms tfct crm mstchngsfm` hy javmrdkmdt-spadsarm`
mdtmrprgsms ar atfmr gdvmstars kcy dat hm prmsukm` ta hm tfm kcremt rctm cd` kcy dat suhstgtutm
iar cotucn cssmsskmdt ai kcremt rctms.
=0. Aowmd wgnn dat sfcrm cdy oakkad aiigomrs ar mkpnaymms wgtf cdy rmnctm` pcrty.
==.
Aowmd wgnn dat sfcrm rgse, gdtmrdcn cu`gt, ar vmd`ar avmrsgjft iudotgads wgtf cdy
rmnctm` pcrty.
=9. Cdy Aowmd mkpnaymm, aiigomr, ar `grmotar awdgdj karm tfcd $822,222 mqugty
awdmrsfgp gd cdy rmnctm` pcrty wgnn hm rmousm` irak dmjatgctgdj, ar vatgdj ta cppravm c
trcdscotgad wgtf tfm rmnctm` pcrty gd wfgof tfm mkpnaymm, aiigomr, ar `grmotar fcs suof mqugty
awdmrsfgp, ar cdy trcdscotgad tfct gd`grmotny hmdmigts suof rmnctm` pcrty gi suof trcdscotgad
gdvanvms rmvmdums ar mxpmdsm ta Aowmd ar c rmnctm` pcrty ai $382,222 ar karm.
Kcdcjmkmdt Ofcdjms
=:. Miimotgvm Lcducry 39, 823=, Zgnngck Mrhmy wgnn rmsgjd irak fgs pasgtgad cs
Mxmoutgvm Ofcgrkcd ai Aowmd, fgs pasgtgad cs Ofcgrkcd ai tfm Hacr` ai @grmotars ai Cntgsaurom
Rartianga, fgs pasgtgad ai Ofcgrkcd ai tfm Hacr` ai @grmotars ai Cntgsaurom Xmsg`mdtgcn
Oarparctgad, fgs pasgtgad ai Ofcgrkcd ai tfm Hacr` ai @grmotars ai Cntgsaurom Cssmt Kcdcjmkmdt
Oarparctgad, cd` fgs pasgtgad ai Ofcgrkcd ai tfm Hacr` ai @grmotars ai Fakm Nacd _mrvgogdj
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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36
_anutgads Nt`. Kr. Mrhmy wgnn fcvm da `grmotargcn, kcdcjmkmdt, avmrsgjft, oadsuntgdj, ar cdy
atfmr ranm ct Aowmd ar cdy rmnctm` pcrty, ar ct cdy ai Aowmd‗s ar tfm rmnctm` pcrtgms‗ ciigngctms ar
suhsg`gcrgms cs ai tfm `ctm ai fgs rmsgjdctgad. Miimotgvm ct fgs rmsgjdctgad, Aowmd‗s Hacr`
kmkhmrs cd` kcdcjmkmdt wgnn dat `gsonasm ta Kr. Mrhmy cdy dad-puhngo gdiarkctgad chaut
Aowmd tfct gs dat cvcgnchnm ta atfmr sfcrmfan`mrs. Gd tfm mvmdt tfct Aowmd `gsoavmrs c vganctgad
ai tfm tmrks ai tfgs Rcrcjrcpf, Aowmd wgnn datgiy tfm @mpcrtkmdt ai tfm vganctgad wgtfgd tfrmm (?)
husgdmss `cys ai `gsoavmry.
Da Gd`mkdgigoctgad
=6.
Dmgtfmr Aowmd, dar cdy ai gts pcrmdts ar ciigngctms wgnn, oannmotgvmny ar
gd`gvg`ucnny, smme ar coompt, `grmotny ar gd`grmotny, rmgkhursmkmdt ar gd`mkdgigoctgad, gdonu`gdj,
hut dat ngkgtm` ta, pcykmdt kc`m pursucdt ta cdy gdsurcdom pangoy, ar irak cdy ai gts pcrmdts ar
ciigngctms, wgtf rmjcr` ta cdy ar cnn ai tfm ckaudts pcychnm pursucdt ta tfgs Oadsmdt Ar`mr.
Hrmcof ai Oadsmdt Ar`mr
=7. Gd tfm mvmdt tfct tfm @mpcrtkmdt hmngmvms Aowmd ta hm gd kctmrgcn hrmcof ai tfgs
Oadsmdt Ar`mr („Hrmcof‛), tfm @mpcrtkmdt wgnn pravg`m wrgttmd datgom ta Aowmd, cd` Aowmd
kust, wgtfgd tmd (32) husgdmss `cys ai rmomgvgdj suof datgom, ar ad c nctmr `ctm gi sa `mtmrkgdm` gd
tfm @mpcrtkmdt‗s sanm `gsormtgad, cppmcr hmiarm tfm @mpcrtkmdt ta `mkadstrctm tfct da Hrmcof
fcs aoourrm` ar, ta tfm mxtmdt pmrtgdmdt, tfct tfm Hrmcof fcs hmmd ourm`.
92. Pfm pcrtgms ud`mrstcd` cd` cjrmm tfct Aowmd‗s icgnurm ta kcem tfm rmqugrm`
sfawgdj wgtfgd tfm `msgjdctm` tgkm pmrga` wgnn hm prmsukptgvm mvg`mdom ai Aowmd‗s Hrmcof.
]pad c igd`gdj ai Hrmcof, tfm @mpcrtkmdt fcs cnn tfm rmkm`gms cvcgnchnm ta gt ud`mr tfm Dmw
Ware Hcdegdj cd` Igdcdogcn _mrvgoms Ncws cd` kcy usm cdy mvg`mdom cvcgnchnm ta tfm
@mpcrtkmdt gd cdy mdsugdj fmcrgdjs, datgoms, ar ar`mrs.
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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37
Zcvgmr ai Xgjfts
93. Pfm pcrtgms ud`mrstcd` cd` cjrmm tfct da pravgsgad ai tfgs Oadsmdt Ar`mr gs
suhlmot ta rmvgmw gd cdy oaurt ar trghudcn autsg`m tfm @mpcrtkmdt.
Rcrtgms Haud` hy tfm Oadsmdt Ar`mr
98. Pfgs Oadsmdt Ar`mr gs hgd`gdj ad tfm @mpcrtkmdt cd` Aowmd, cs wmnn cs Aowmd‗s
suoomssars cd` cssgjds tfct crm ud`mr tfm @mpcrtkmdt‗s supmrvgsary cutfargty. Pfgs Oadsmdt
Ar`mr `ams dat hgd` cdy im`mrcn ar atfmr stctm cjmdoy ar cdy ncw mdiaromkmdt cutfargty.
9?. Mxompt cs smt iartf gd Rcrcjrcpfs 90 cd` 9=, da iurtfmr cotgad wgnn hm tcemd hy tfm
@mpcrtkmdt cjcgdst Aowmd iar tfm kcttmrs smt iartf gd tfgs Oadsmdt Ar`mr, pravg`m` tfct Aowmd
oakpngms wgtf tfm tmrks ai tfm Oadsmdt Ar`mr.
90.
Datfgdj gd tfgs Oadsmdt Ar`mr sfcnn mxousm Aowmd irak pcygdj rmqugrm`
rmstgtutgad ta cdy harrawmrs fcrkm` hy gts gkprapmr ar gnnmjcn oad`uot, gdonu`gdj tfm hcoe`ctgdj
ai nmttmrs ta harrawmrs. Pa tfm mxtmdt c harrawmr mdtgtnm` ta rmstgtutgad fcs rmomgvm` c ocsf
pcykmdt pursucdt ta tfgs Oadsmdt Ar`mr, Aowmd kcy aiismt suof pcykmdt cjcgdst tfm rmstgtutgad
awm` ta suof harrawmr.
9=. Datwgtfstcd`gdj cdy atfmr pravgsgad gd tfgs Oadsmdt Ar`mr, tfm @mpcrtkmdt kcy
ud`mrtcem c``gtgadcn cotgad cjcgdst Aowmd iar trcdscotgads ar oad`uot tfct< (c) crm dat smt iartf
gd tfgs Oadsmdt Ar`mr5 (h) Aowmd `g` dat `gsonasm ta tfm Oakpngcdom Kadgtar ar tfm @mpcrtkmdt
gd oaddmotgad wgtf tfm @mpcrtkmdt‗s gdvmstgjctgad gdta tfmsm kcttmrs5 cd` (o) tfct tfm @mpcrtkmdt
cd` Oakpngcdom Kadgtar wmrm dat atfmrwgsm cwcrm ai gd oaddmotgad wgtf tfm @mpcrtkmdt‗s
gdvmstgjctgad cd` tfm ware ai tfm Oakpngcdom Kadgtar.
Datgoms
99. Cnn datgoms ar oakkudgoctgads rmjcr`gdj tfgs Oadsmdt Ar`mr wgnn hm smdt ta<
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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82
Iar tfm @mpcrtkmdt<
@cdgmn HurstmgdMxmoutgvm @mputy _upmrgdtmd`mdtXmcn Mstctm Igdcdom @gvgsgad
Dmw Ware _tctm @mpcrtkmdt ai Igdcdogcn _mrvgomsAdm _tctm _trmmt Dmw Ware, DW 32220
Iar Aowmd<
Pgkatfy K. FcymsMxmoutgvm Ygom Rrmsg`mdt cd` Jmdmrcn OaudsmnAowmd Igdcdogcn Oarparctgad3993 Zartfgdjtad Xac` #322Zmst Rcnk Hmcof, IN ??027
Kgsomnncdmaus
9:. Mcof pravgsgad ai tfgs Oadsmdt Ar`mr wgnn rmkcgd miimotgvm cd` mdiaromchnm udtgn
stcym`, ka`gigm`, suspmd`m`, ar tmrkgdctm` hy tfm @mpcrtkmdt.
96. Da prakgsm, cssurcdom, rmprmsmdtctgad, ar ud`mrstcd`gdj atfmr tfcd tfasm
oadtcgdm` gd tfgs Oadsmdt Ar`mr fcs hmmd kc`m ta gd`uom cdy pcrty ta cjrmm ta tfm pravgsgads ai
tfm Oadsmdt Ar`mr.
GD ZGPDM__ ZFMXMAI, tfm pcrtgms fcvm ocusm` tfgs Oadsmdt Ar`mr ta hm sgjdm` tfgs 88d`
`cy ai @momkhmr, 8230.
AOZMD IGDCDOGCN OAXRAXCPGAD
Hy< QQQQQQQQQQQQQQQQQQQQQQQXADCN@ ICXG_
Rrmsg`mdt cd` Ofgmi Mxmoutgvm Aiigomr
DMZ WAXE _PCPM @MRCXPKMDP AI
IGDCDOGCN _MXYGOM_
Hy< QQQQQQQQQQQQQQQQQQQQQQQHMDLCKGD K. NCZ_EW
_upmrgdtmd`mdt ai Igdcdogcn _mrvgoms
AOZMD NACD _MXYGOGDJ, NNO
Hy< QQQQQQQQQQQQQQQQQQQQQQQ
PGKAPFW K. FCWM_
Mxmoutgvm Ygom Rrmsg`mdt
8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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Iar tfm @mpktkmdt<
@cdgmn Hurstmgd
Mxmoutgvm @mputy _upmrgdtmd`mdt
Xmcn Mstctm Igdcdom @gvgsgad
Dmw Ware _tctm @mpcrtkmdt
ai
Igdcdogcn _mrvgoms
Adm _tctm _trmmt
Dmw
Ware, DW 32220
Iar Aowmd<
Pgkatfy K. Fcyms
Mxmoutgvm Ygom Rrmsg`mdt cd` Jmdmrcn Oaudsmn
Amwmd Igdcdogcn Oarparctgad
3993 ZAGtfgdjtad Xac` #322
Zmst Rcnk Hmcof. IN ??027
Kgsomnncdmaus
9:. Mcof pravgsgad aUtfgs Oadsmdt Ar`mr wgnn rmkcgd miimotgvm cd` mdiaromchnm udtgn
stcym`, ka`gigm`, suspmd`m`,
ar
tmrkgdctm` hy tfm @mpcrtkmdt.
96. Da prakgsm, cssurcdom, rmprmsmdtctgad, ar ud`mrstcd`gdj atfmr tfcd tfasm
oadtcgdm` gd tfgs Oadsmdt Ar`mr fcs hmmd kc`m ta gd`uom cdy pkty ta cjrmm ta tfm pravgsgads ai
tfm Oadsmdt Ar`mr.
D ZGPDM__ ZFMXMAI
tfm pcrtgms fcvm ocusm` tfgs Oadsmdt Ar`mr ta hm sgjdm` tfgs 37tf
`cy ai @momkhmr. 8230.
AOZMD IGDCDOGCN OAXRAXCPGAD
DMZ WAXE _PCPM @MRCXPKMDP AI
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a
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AOZMD NACD _MXYGOGDJ, NNO
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8/10/2019 New York Department of Financial Services ("DFS") Announces OCWEN Chairman to Resign; OCWEN to Provide Di…
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Iar
tf
m @mpcrtkmdt<
@cdgmn Hurstmgd
Mxmoutgvm @mputy _upmrgdtmd`mdt
Xmcn Mstctm Igdcdom @gvgsgad
Dmw Ware _tctm @mpcrtkmdt
ai
Igdcdogcn _mrvgoms
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Dmw Ware, DW
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Zm Rcnk Hmcof, IN ??027
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nn
cdmaus
9:. Mcof pravgsgad ai tfgs Oadsmd t Ar`mr w gnn rmkcgd miimotgvm cd` mdiaromchnm udt
gn
stcym`. ka`gigm`, suspmd`m`. ar tmrkgdctm` hy tfm @mpcrtkmdt.
96. Da prakgsm. cssurcdom. rmprmsmdtctgad, ar ud`mrstcd`gdj atfmr tfcd tfasm
oadtc gdm` gd tfgs Oadsmdt Ar`mr fcs hmmd kc`m ta gd`uom cdy pcrty ta cjrmm ta tfm pravgsgads ai
tfm Oadsmdt Ar`mr.
GDZGPDM__ ZG-G
MXMAI
, tfm pcrtgms fcvm ocusm` tfgs Oadsmdt Ar`mr ta hm sgjdm` tfgs 37tf
`cy ai @momkhmr. 8230.
AOZMD IGDCDOGCN OAXRAXCPnAD DMZ WAXE _PCPM @MG'CXPKMDP
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