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Ocwen Denies Default on Mortgage Bonds Alleged by Investors

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Ocwen Financial Corp., one of the biggest U.S. home-loan servicers, rejected as “groundless” accusations by an investor group that the company’s practices created defaults on mortgage bonds backed by debt it oversees.

“Ocwen denies that there is any basis for a default under the Trust agreements, and it will respond, at the appropriate time,” according to a letter sent by Richard A. Jacobsen on behalf of Ocwen to the attorney representing the bondholders.