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NY Banking Dept Reaches Servicing/Foreclosure Practices Agreement with Goldman, Litton, Ocwen

Superintendent of Financial Services Benjamin Lawsky announced that New York’s Department of Financial Services and Banking Department have entered into an agreement with Goldman Sachs (GS.

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New York State Superintendent of Financial Services Benjamin M. Lawsky has announced that New York’s Department of Financial Services and the New york state banking department have entered into an agreement with Goldman Sachs Bank, Ocwen Financial Corporation and Litton Loan Servicing LP to adhere to landmark new Mortgage Servicing Practices.

The agreement, which New York financial services superintendent Benjamin Lawsky reached with Goldman and Ocwen Financial Corp., contains several measures to strengthen the oversight of foreclosure proceedings. It also will allow Goldman’s planned sale of its Litton Loan Servicing LP unit to continue.

Goldman Sachs, Ocwen Financial Corp. and Litton Loan Servicing will end robo-signing practices and write down as much as $53 million in unpaid principal on New York mortgages as part of an eight.

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Goldman Sachs and New York State’s superintendent of financial services have reached a settlement agreement to end the practice known as "robo-signing" where bank employees signed foreclosure documents without reviewing the case files as required by law. According to Reuters, Goldman will compensate some aggrieved borrowers "for wrongful foreclosures" and the agreement will allow.

By Tom Braithwaite in New York. Goldman Sachs agreed to pay fines and reduce outstanding debt for some homeowners as part of a deal with regulators that allows the Wall Street bank to exit the.

The New York State Department of Financial Services and Banking Department have entered into an agreement with Ocwen Financial Corp., Goldman Sachs Bank and Litton Loan Servicing LP to adhere to what the state describes as ‘landmark new mortgage servicing practices.’ The agreement was required by the departments as a condition to allowing Ocwen’s acquisition [.]

This proxy statement and the accompanying materials are being made available to Nationstar Mortgage Holdings. and practices, including our enterprise-wide compliance risk management system..

Goldman Sachs agreed to pay fines and reduce outstanding debt for some homeowners as part of a deal with regulators that allows the Wall Street bank to exit the mortgage servicing business but.

A New York state banking regulator said on Thursday that it had reached a pact with Goldman Sachs Group Inc on foreclosure processes that will allow the planned sale of its Litton Loan Servicing.

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