William erbey biography

American entrepreneur

William Erbey is an American businessman and the founder of Ocwen Financial Corporation.^[2][3] Erbey made billions during the subprime mortgage crisis by positioning Ocwen to take advantage of larger banks leaving the market; however, he later lost much of his wealth amid allegations of frequent legal violations and conflicts of interest by the company.^[4][5] In 2014, these conflicts of interest led to Erbey's resignation from Ocwen's board as part of a settlement with the New York Department of Financial Services.^[6][7][8]

Ocwen Financial Corporation

Erbey was the founder of Ocwen Financial Corporation, a mortgage services company that made large amounts of money during the subprime mortgage crisis.^[2][9] In 2014 he stepped down as board chairman as part of a settlement with the New York Department of Financial Services, and resigned from positions