Andrew Cuomo & NY Consumers Lose Their Financial BFF With NYDFS Benjamin Lawsky’s Departure

ICYMI-Last week, John Wilen at Forbes wrote a great piece about New York State Department of Financial Services Superindentent Benjamin Lawsky who will be leaving Governor Andrew Cuomo’s administration in January.

In being tapped by Andrew Cuomo in 2011, Lawsky soon went after Nationstar after receiving hundreds of complaints from New York homeowners about being jerked around by Nationstar in modification negotiations and foreclosure cases.

Lawsky soon became a blazing hemorrhoid on the rotund posterior of OCWEN CEO William Erbey by blocking OCWEN from purchasing mortgage servicing rights from Wells Fargo earlier this year. Last month, Lawsky launched an investigation into Ocwen’s use of sending out back dated default notices. This investigation caused Ocwen’s stock to lose nearly 40% of it’s value in three days.

Read more of the Forbes article here