Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Would someone please explain what is going on with Ocwen this week and what this might mean to homeowners caught in their trap?  

UPDATE 1-Ocwen Financial receives bid from CEO-led group

NEW YORK, Jan 15 (Reuters) - Ocwen Financial Corp (OCN.N: Quote, Profile, Research) said on Tuesday that it had received a proposal from a group led by Chief Executive William Erbey, Oaktree Capital Management and Angelo, Gordon & Co to buy the loan servicing company for $7 per share in cash, or about $438 million based on the amount of stock outstanding.

Ocwen shares closed at $3.98 on Monday. The stock was up $2.27, or 57 percent, at $6.25 in morning New York Stock Exchange trade.

Ocwen's board has formed a special committee of independent directors to consider the proposal. The committee has retained Evercore Group as financial advisor. (Reporting by Mark McSherry and Jonathan Keehner; Editing by Lisa Von Ahn)

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If Im reading this right, Erby just converts some of his 13,000,000 in shares and takes over the servicing unit, and still leaves several hundreds of thousands of shares for himself.  They brought in outside people to maybe give the appearance that thier was no conflict of interest with the remaining stock holders?
Just a thought.  Oh Remember the connections here with MGIC/Litton LOAN and CBASS!
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They want to take it private to not have to report to the SEC.

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