Fitch and Moody's warn on Ocwen

|By:, SA News Editor

Moody's earlier today said it could cut Ocwen Financial's (OCN -6%) credit rating thanks to last week's CFPB lawsuit and cease and desist orders from a number of states (which Hawaii has also joined).

Now Fitch has warned the same. S&P cut late last week.

Up for cuts, though, is Ocwen's corporate credit rating, not its servicer rating. Were the servicer rating to be cut, that could be more ominous for Ocwen's subservicing deal with New Residential (NRZ -0.6%).

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