Ocwen and related slump as Lawsky pens a letter

|About: Ocwen Financial Corporation (OCN)|By:, SA News Editor

It's more declines for the "Ocwen complex" as New York DFS boss Ben Lawsky sends a letter to Ocwen Financial (OCN -2.8%) about a "troubling transaction" with Altisource Portfolio Solutions (ASPS -9.6%) involving force-place insurance.

"This complex arrangement appears designed to funnel as much as $65M in fees annually from already-distressed homeowners to Altisource for minimal work."

Altisource Asset Management (AAMC -6.9%), Altisource Residential (RESI -5.2%), Home Loan Servicing Solutions (HLSS -0.3%)

Not part of the Ocwen group, but also worth watching: Nationstar Mortgage (NSM -2.3%) and Walter investment (WAC -2.9%).