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Pam Biondi Briefing: Ocwen Financial Corporation Sued for Alleged Mortgage Servicing Misconduct

[vc_row][vc_column][vc_gallery interval=”3″ images=”80534″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]This week I filed an action against Ocwen Financial Corporation for the company’s alleged mortgage servicing misconduct. My office, along with the Florida Office of Financial Regulation, filed the complaint claiming that Ocwen failed to adequately perform basic mortgage servicing functions, causing widespread errors and financial harm to Florida borrowers. We are seeking financial and other relief for harmed borrowers and an order preventing Ocwen from servicing loans in violation of our state and federal law.

It is my office’s duty to protect the more than 125,000 Ocwen borrowers in Florida. Since 2014, when we first entered the multistate settlement with Ocwen, we have listened to Ocwen’s promises that they would “right the ship” and resolve the improper mortgage servicing and foreclosure misconduct that has plagued it. Enough is enough. Florida’s distressed Ocwen borrowers should no longer have to endure costly servicing errors and unfair practices.

Despite the $2.1 billion national settlement reached with Ocwen in 2014 addressing the company’s mortgage servicing misconduct, Ocwen allegedly continued to violate consumer protection laws. According to the complaint my office filed yesterday, Ocwen harmed Floridians by filing illegal foreclosures, mishandling loan modifications, misapplying mortgage payments, failing to pay insurance premiums from escrow and collecting excessive fees.

We will continue to work with the Florida Office of Financial Regulation and our other state and federal partners to ensure Floridians are protected from mortgage servicing and foreclosure abuses. I encourage Florida homeowners who may have been harmed by Ocwen’s actions or other unfair business practices to file a complaint by visiting MyFloridaLegal.com or calling (866) 9-NO-SCAM.[/vc_column_text][/vc_column][/vc_row]

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