The New York Department of Financial Services is including several stipulations with its approval of Goldman Sachs’ sale of its Litton Loan Servicing unit to special servicer Ocwen Financial.

Goldman Sachs has agreed to principal reductions of $ 53 million on Litton mortgages. In addition, the agreement forged between Goldman and New York’s banking superintendent addresses the illegal practice of robo-signing and includes rules to ensure only the note-holder pursues foreclosure actions. Article Feed