Ocwen Financial Is Protecting Shareholder Interests, But Not As Much As HLSS (Update: Class Action Suit)
- Mr. Erbey is the chairman for both OCN and HLSS. OCN’s controls on management are better than the industry norm, but still have room for improvement.
- In HLSS, the requirements for “Arm’s-length” transactions are clearly spelled out. In OCN, the wording is weaker so it appears there might be a tiny bit of wiggle room.
- Allowing competing employment is a serious problem.