Wilbur Ross Steps Down From Ocwen’s Board, other public companies

Wonder if the fact that many states hold the manager and officers of LLC personally liable for the costs and damages of deceptive business practices had anything to do with his departure?

Justice League

SEC.gov:

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 20, 2014, Wilbur L. Ross, Jr. notified the Board of Directors (the “Board”) of Ocwen Financial Corporation (the “Company”) of his decision to resign as a director on the Board effective immediately as a result of his election as Vice Chairman of Bank of Cyprus and the requirements of certain European regulations which limit directorships of bank officers. Mr. Ross is simultaneously resigning from the board of directors of several other public companies. Mr. Ross’ decision to resign as a director was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies or practices.

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2 thoughts on “Wilbur Ross Steps Down From Ocwen’s Board, other public companies

  1. So the old bad debt collector resigns almost exactly 2 years to the day after he sold his portfolio of AHMSI owned junk mortgages to OCWEN ,, sounds like he fulfilled a condition of the sale to me.. Wilbur graduated from buying old charged off Sears card debt at 2.75% on the dollar to buying fully paid off notes where the homeowners legitimately owe nothing, paid off in full by AIG and others for 22.5% on the dollar and pushing the poor homeowners into BK with deceptive servicing practices… Now that the well has run dry and he has foreclosed on all the weak hands he sells to OCWEN and bails at the first opportunity..

  2. Remember when he promoted Mr.Friedman who worked at the old American Home Mortgage in 2004 to the new American Home Mortgage Servicing Inc. in 2007 while they told the borrower they had nothing to do with the old American Home Mortgage. What a crock of lies as they even kept the old American Home Mortgage servicer open in Irving Texas . Fat chance the borrower was ever going to get a modification.

    Mr. Friedman employment History
    http://www.zoominfo.com/s/#!search/profile/person?personId=700366951&targetid=profile

    Mr.Friedman Testimony:
    “…we would like to inform you that AHMSi is a large, non-prime residential loan servicer that does not originate loans and did not originate any of the loans it currently services.”

    Never mind the FACT that he worked at the old American Home Mortgage.

    Mr.Friedman Testimony
    http://oversight.house.gov/wp-content/uploads/2012/01/20100624Friedman.pdf

    Also – “American Home Mortgage actually originated the majority of its loans in 2006 on a “stated income” basis without verifying the borrower’s income.”
    See here:
    http://www.sec.gov/news/press/2009/2009-92.htm
    So who were the borrowers that were defrauded ?

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