Fitch puts Ocwen on watch

Fitch Ratings said it has placed the B ratings of Ocwen Financial Corp. and its wholly owned, primary operating subsidiary, Ocwen Loan Servicing, LLC on rating watch negative.

Rated secured and unsecured debt is similarly affected by these actions, the agency said.

The negative watch follows a third letter sent to Ocwen by the New York Department of Financial Services alleging material weaknesses in the company's servicing practices, the agency said.

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