Ocwen will fight CFPB plan for homeowner relief fund

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WEST PALM BEACH, Fla. (CN) – In a lawsuit brimming with claims of wrongful foreclosures, deceptive, unfair and incompetent debt collection, the Consumer Financial Protection Bureau says more than 300,000 homebuyers in the past two years have complained about Ocwen Financial, one of the largest nonbank mortgage servicers in the country.

Ocwen Financial Corporation (NYSE: OCN) today issued the following statement in response to the legal action filed by the Consumer Financial Protection Bureau (CFPB) related to allegations.

Foreclosure Relief for Homeowners With Ocwen Mortgages By Amy Loftsgordon , Attorney Many borrowers who had mortgages serviced by Ocwen, which is the largest non-bank mortgage servicer in the country, received mortgage relief as a result of a national settlement that occurred in December of 2013.

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Coverage of federal case Consumer Financial Protection Bureau v. OCWEN Financial Corporation, Inc. et al, case number 9:17-cv-80495, from Florida Southern Court.

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We took steps to re-start lending to families and businesses, stabilize our major financial institutions, and help homeowners stay in their homes and pay their mortgages. We also passed the largest.

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 · LANSING – Attorney General Bill Schuette today announced a $550 million joint state-federal settlement with SunTrust Mortgage Inc. to address mortgage-related abuses.The settlement is expected to bring millions of dollars’ worth of additional foreclosure-relief benefits to thousands of Michigan homeowners.

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