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Ocwen Financial Corp. on Oct. 24 apologized to borrowers who received backdated letters from the company denying their mortgage loan modifications and promised to get to the bottom of what it called a "mistake."
The Georgia-based company will hire an independent firm to investigate why the letters were backdated and how it took so long to fix the issue. Ocwen traditionally dated its letters when an official decision was made, it said in an open letter to customers, and then sent them out within the...