Ocwen pays Massachusetts $3.7 million to resolve foreclosure claims

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The settlement required Ocwen to provide the following forms of relief to eligible borrowers. Ocwen Provided Cash Payouts to Borrowers Who Lost Their Homes to Foreclosure. The settlement required Ocwen to pay $125 million to certain borrowers who went through a foreclosure between January 1, 2009 and December 31, 2012.

One of the biggest non-bank mortgage servicers in the U.S. Ocwen Financial Corp. (OCN) agreed to settle a Massachusetts lawsuit related to mortgage handling by paying $3.7 million

BOSTON (Legal Newsline) – Massachusetts Attorney General Martha Coakley announced a $3.7 million settlement on Monday with a mortgage servicer to resolve allegations it failed to provide certain.

Ocwen to Pay $3.7 Million to Settle Massachusets Claims. Ocwen Financial Corp. (OCN) agreed to pay $3.7 million to end a Massachusetts lawsuit claiming it didn’t give homeowners required notices and illegally foreclosed on properties, the state’s attorney general said. Under the deal, homeowners will get $3 million of the settlement, with the balance going to the state, Attorney General.

and Ocwen Loan Servicing, LLC (collectively, "Defendant" or "Ocwen") violated, among other laws, the Unfair and Deceptive Acts and Practices laws of the Plaintiff States and the Consumer Financial Protection Act of 2010. WHEREAS, the parties have agreed to resolve their claims without the need for litigation;

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Under the terms of the consent judgment, Ocwen will pay $2 million in restitution to resolve allegations that it violated state law and committed unfair and deceptive practices by charging massachusetts homeowners for unnecessary fees and overpriced force-placed insurance policies.

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