Ocwen Views Recent Settlement as Vindication from Investor’s Allegations of Default

first_img  Print This Post Ocwen Views Recent Settlement as Vindication from Investor’s Allegations of Default About Author: Brian Honea Related Articles Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Ocwen Financial Corporation views the agreement between Home Loan Servicing Solutions (HLSS) and Deutsche Bank announced earlier this week as a chance to dismiss a private investment firm’s accusations of default against Ocwen, according to an announcement from Ocwen.New York-based private investment firm BlueMountain Capital, a purported holder of notes issued by HLSS Servicer Advance Receivables Trust (HSART) wrote a letter last month accusing Ocwen, the largest non-bank mortgage servicer in the United States, of breach of contract and default on certain notes serviced by HLSS.  Ocwen subsequently issued a statement vowing to “vigorously defend itself” against BlueMountain’s accusations.Earlier this week, HLSS announced an agreement with Deutsche Bank, the indenture trustee for HSART, regarding similar claims of default by BlueMountain. The parties agreed they would not initiate any judiciary proceedings with regards to the merit of BlueMountain’s allegations, and HLSS agreed to allow Deutsche Bank to withhold excess funds that would otherwise be eligible for distribution from the HSART trust to HLSS, according to an announcement from HLSS.Ocwen announced that it consented to the agreement between the parties, believing that the agreement gave the servicer and the involved parties to dispel “false accusations of a default under the HSART Indenture,” according to Ocwen.”Ocwen refutes BlueMountain’s allegations and believes no event of default has occurred under the HSART Indenture,” Ocwen said in the statement issued Wednesday.  “As previously stated, Ocwen will continue to vigorously defend against BlueMountain’s campaign, as a short seller of Ocwen stock, to undermine Ocwen’s share price and financial position through misleading and inaccurate press releases.”One of the largest HLSS shareholders, New York-based investor Mangrove Partners, wrote two letters to the HLSS Board of Directors earlier this month requesting that HLSS terminate its relationship with Ocwen due to the embattled Atlanta-based servicer’s much-publicized regulatory troubles in the last year. Last week, a Los Angeles law firm announced a class action lawsuit against HLSS over its relationship with Ocwen. Tagged with: BlueMountain Capital Deutsche Bank Home Loan Servicing Solutions Non-Bank Servicers Ocwen Financial Corporation Sign up for DS News Daily center_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Ocwen Views Recent Settlement as Vindication from Investor’s Allegations of Default Governmental Measures Target Expanded Access to Affordable Housing 2 days ago BlueMountain Capital Deutsche Bank Home Loan Servicing Solutions Non-Bank Servicers Ocwen Financial Corporation 2015-02-19 Brian Honea in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Previous: Study: Household Formations Have Returned to Pre-Recession Levels Next: DS News Webcast: Friday 2/20/2015 February 19, 2015 1,183 Views Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Foster to seek re-election following successful first term

first_imgBERBICE Cricket Board (BCB) president Hilbert Foster has signalled his intentions to seek re-election for another two terms, as the board prepares to host their Annual General Meeting (AGM) on Sunday, December 22.In a release from the BCB, Foster stated that he was fully prepared to walk away after his highly successful first term but agreed to the request of countless clubs, young cricketers, cricket officials and parents as they were concerned about Berbice Cricket returning to a state of dormancy.Foster, who is also the Secretary/CEO of the Rose Hall Town Youth & Sports Club, MS, took over the leadership of BCB February 18, 2018, at a Special Election ordered by Guyana’s High Court. Moves, such as a drive which raked in over $20M in cash from hosting over 60 tournaments at the Under-13, U-15, U-17, U-19, U-21, Double Wicket, Primary School, Secondary School, Female, Intermediate, Internal Zone, Inter-Village, Second Division and First Division levels were all works of Foster during his tenure.Berbice players are also being recognised at the West Indies level in record numbers with the following players been called up over the last two years at different levels: Devendra Bishoo, Romario Shepherd, Gudakesh Motie, Anthony Bramble, Shemaine Campbelle, Sheneta Grimmond, Shabika Gajnabi, Isiah Thorne, Kevlon Anderson, Rampersaud Ramnauth, Jonathan Rampersaud and Kevin Umroa. They were also included in training camps. The BCB head stated he has no intention of campaigning for the position as his unmatched achievements spoke for themselves. The 13 clubs and three sub-associations have to decide if they want to return to the sad state of the recant past or to see more progress over the next two years.Foster plans to run for the period 2020–2021 and plans to host at least 25 tournaments per year at the different levels, continue the 2-Day tournament, carry on upgrading the BCB office, expand the countywide coaching programme, hold more cricket tournaments and assist clubs in the riverine area as well as construct an all-weather practice centre.He plans to assist clubs with proper youth structure, cricket gear for promising youth players and mentoring of young leaders at the BCB.last_img read more

Ghana Rugby Eagles Prepare For International Battles

first_imgThe Ghana Rugby national men’s fifteens and women’s sevens teams, the Ghana Eagles, gathered at the Accra Sports Stadium on Saturday 24 September 2016 to play trial matches in preparation for upcoming international clashes.The ladies sevens team led by Kukua Aggrey and Rafatu Inusah, played two matches during the men’s 15s match break and another one after the men.According to Simba Mangena, one of the men’s fifteens Ghana Eagles coaches, there has been a general improvement in communication in all departments with good coordination in the back three.Mangena said that Cosmos flanker Raymond Ata had a sterling performance which showed in his good work rate off the ball. In addition there has been good improvement in tactical play at the lineout. According to Mangena, areas that need attention are urgency at the breakdown, decision making in attack, final passes after breaking the defence line and running lines. Amuzuloh Salim, another Ghana Eagles coach, said that the trial match went well despite an early shock try from the B team. According to him the coaches are in general satisfied that they have two strong sides that provide the technical bench with options should it be required.“We appreciate the opportunity and will be very happy if more such trial matches can be scheduled so that the players get to know each other very well,” he said.The captain of the A team, Michael Ako Wilson, said that he was happy with the levels of discipline and communication and the fact that no injuries were recorded.“As the playing body we see a great future for Ghana Rugby and all players must be ready to go that extra mile with the administration to achieve the best for the nation in the upcoming international matches against Niger, Togo and Nigeria,” he said.The period from now to December will be a very busy time for the Ghana Rugby family with U20 and women’s sevens trials coming up, followed by another men’s fifteens trial match, an international friendly against Niger on the 2nd of October and the possibility of further international matches as part of the just established WARS (West Africa Rugby Series) tournament organisation. The Ghana Rugby Club Championship (GRCC) is also scheduled to kick off with ten Club teams from the Greater Accra Rugby Association (GARA) and CentWest that will battle for top honours in this year’s league.The GRCC was won by Conquerors SC earlier this year when they dethroned previous champions Cosmos Buffalos RFC.last_img read more