NEW YORK – State and federal authorities are suing ocwen financial (), saying the loan servicer illegally foreclosed on at least 1,000 U.S. homeowners and mishandled millions of mortgage accounts.
Ocwen is a major player in Florida residential real estate financing. This is because after the 2008 Foreclosure Fraud Crisis, Ocwen bought huge amounts of subprime home loans from Florida lenders anxious to avoid loans considered to be at high-risk of default and foreclosure. Ocwen continued to build its mortgage servicing empire from there.
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Ocwen Improperly Foreclosed On Mortgagees, Suit Says – Law360 A proposed settlement has been reached in a class action lawsuit concerning whether Ocwen Loan Servicing, LLC ("Ocwen") properly reported mortgage interest payments to the Internal Revenue Service (IRS) for borrowers who had "Option ARM" mortgages or other negatively amortizing mortgages that were serviced by Ocwen in 2013.
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Ocwen REO. Ocwen offers both residential and commercial reo services including foreclosed property sales. Please click on either of the links below to browse our current listings or to find out more information:
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Ocwen Improperly Foreclosed On Mortgagees, Suit Says – Law360 The Texas anti-SLAPP statute has generated an enormous amount of litigation and commentary, especially with the Legislature in session and actively considering amendments.
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