FIS expensed strip clubs, padded timesheets during Ocwen audit, lawsuit claims

Mortgage

Auditors performing a review of Ocwen Financial Corp. padded timesheets and claimed excessive and improper expenses, including lengthy travel and meals at strip clubs and casinos, according to a lawsuit filed against Fidelity Information Services LLC.

The California Department of Business Oversight selected FIS to review servicing practices of mortgages in the state in June 2015. Ocwen was to pay for the independent audit, which was budgeted to cost nearly $45 million and take two years to review 50,000 loans.

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