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Michael Greiner joined Angio Dynamics as CFO in August 2016, charged with the goal of helping to create a faster-moving, more efficient and growth-oriented company. Greiner talks about his role in driving culture change and focusing the finance operation to support Angio Dynamics’ internal and external growth strategy.
He also discusses the importance of using data to look around corners and identify opportunities to support the business.
“The process and paperwork behind this has gotten much more rigorous,” Ms. Backdating litigation was often consolidated into class actions or brought by shareholders on behalf of the company.
"Ocwen's indifference to such a serious matter demonstrates a troubling corporate culture that disregards the needs of struggling borrowers."Demanding that Ocwen "fix its systems without delay," Lawsky said his agency "intends to take whatever action is necessary to ensure that borrowers are protected."Ocwen, built into one of the largest U. mortgage servicers by billionaire William Erbey, a major company stockholder, initially said in a Tuesday statement that 283 New York borrowers received improperly dated letters due to software errors in the firm's correspondence system."We believe that we have resolved the letter dating issues that have been identified to date, and we continue our investigation as to whether there are additional letter dating issues that need to be resolved," the company said Tuesday.
But Ocwen later in the day said it was "aware of additional borrowers in New York who received letters with incorrect dates but does not yet know how many such letters there were." The company added that it is "working with and fully cooperating with DFS and the monitor to address their concerns."The warnings about Ocwen's business practices were the latest in a series issued by the New York regulator.
But a few days of review by the monitor found nearly 1,000 additional backdated letters, Lawsky wrote.
Additionally, some borrowers facing foreclosure got Ocwen letters notifying them of the deadline to cure their default and avoid default, but that date was months past by the time the letters arrived, Lawsky wrote.