Ocwen Financial Corp

WASHINGTON -- The Federal Reserve says Morgan Stanley will review foreclosures carried out by its old mortgage subsidiary and reimburse any homeowners...

Banks and servicers have fleeced nearly $4 billion from homeowners on false hope and empty promises. For the relative few, like my wife and I who received permanent mortgage modifications after a 15-month battle, the fight is far from over.

Ocwen Financial is responsible for 45 percent of all the successful loan modifications in the country. Wow, 45 percent. If I hadn't almost flunked math, I'd think that was almost half.

My wife and I have been involved in negotiations with our loan servicer for over a year now. It seems that the deck, as Arianna points out, is most certainly stacked against us

Freddie Mac introduced a loan modification pilot program, but it outsourced the job to a subprime loan servicer with a history of customer dissatisfaction and run-ins with the federal government.