Washington, D. The new Agency alleges one to Ocwen’s years of common problems, shortcuts, and you may runarounds cost specific consumers money although some their houses. Ocwen presumably botched first functions including giving perfect month-to-month statements, properly crediting costs, and you can dealing with fees and insurance policies. Presumably, Ocwen and illegally foreclosed to the struggling borrowers, overlooked buyers problems, and you can marketed off the servicing liberties to money without totally revealing the fresh errors they built in borrowers’ suggestions. The latest Florida Attorneys General grabbed an identical action against Ocwen today in the a special lawsuit. Of numerous county economic government are individually providing give it up-and-desist and you can licenses revocation instructions facing Ocwen for escrow administration and you can licensing factors today.
“Ocwen enjoys several times made errors and you may removed shortcuts at each phase of mortgage repair techniques, costing some users money while some their homes,” said CFPB Movie director Richard Cordray. “Borrowers don’t have any say more exactly who characteristics their home loan, so that the Agency will remain vigilant to be sure it rating fair therapy.”