The Los Angeles law firm of Glancy Binkow & Goldberg LLP notified HLSS shareholders that it has a filed a class action lawsuit against Home Loan Servicing Solutions (HLSS), a firm with strong business ties to Ocwen. The lawsuit alleges that HLSS failed to disclose to is its investors the extent that its business depended on Ocwen, as well as the now well-publicized extent of Ocwen‘s problems.
In late 2014, Ocwen paid $150 million to settle allegations by the office of Benjamin Lawsky, New York’s Superintendent of Financial Services. Ocwen‘s CEO, William Erbey, resigned – not only from Ocwen but also as the non-executive chairman on the HLSS board.
Read the original article in DSNews.