Opinion ID: 169778
Heading Depth: 5
Heading Rank: 1

Heading: Ocwen Financial Corporation

Text: Ocwen Financial Corporation is a holding company based in Florida. It is required and the agent performing the REO property evaluation is likely to get the listing on the property. -5- the parent company to the two other defendants in this case, the Bank and Ocwen Technology. The Ocwen entities are primarily operated by brothers W illiam and John Erbey. W illiam Erbey was chief executive officer and chairman of the Bank at all relevant times. The Bank’s valuation department purchased loan pools requiring updated BPO s. The bulk of its BPO s were purchased through national vendors, such as Cartel, from 1993 through 1999. In 1995, the Bank created a computer system called Order Tracking, in which it kept names of its vendors and follow ed the progress of its orders. In mid-1999, the B ank created a new division, Ocw en Realty Advisors (O cwen Advisors). Bill Krueger, formerly with the Bank’s valuation department, was appointed the Director of Ocwen Advisors and was tasked with reorganizing the department. The goal was to transition the valuation department from its status as a historical cost center, providing support to its acquisition department, to a division providing services to clients for a fee.