U.S. Markets closed

Ocwen, Altisource drop after NY probe finds potential conflict

Shares of Ocwen Financial (OCN) are off their earlier highs after a probe by New York financial regulator Ben Lawsky has reportedly found potential conflicts of interest in Ocwen's operations. The probe showed that Ocwen’s chief risk officer also served in the same role at Altisource Portfolio Solutions (ASPS), and that the officer was removed as a result, according to a letter sent to Ocwen that was cited by Bloomberg. In afternoon trading, Ocwen is down 0.6% to $39.28, while Altisource is down 6% to $109.68.