A group of institutional investors who set out to nail beleaguered financial services company Ocwen Financial Corp. came up empty-handed.
Atlanta-based Ocwen, which has a loan servicing operation in West Palm Beach, was featured prominently in the robo-signing scandal, facing regulatory sanctions and consumer allegations of unethical servicing. The company seemed headed for another public relations blow when a minority group of institutional investors behind 119 residential mortgage-backed securities trusts worth about $82 billion sought to oust Ocwen from servicing the portfolio.
