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CFPB, Florida Sue Ocwen For Mortgage Servicing Issues – Law360 By Evan Weinberger. The consumer financial protection Bureau on Thursday sued mortgage service.
State and federal authorities have sued mortgage. Ocwen borrowers should no longer have to endure costly servicing errors and unfair practices," Florida Attorney General Pam Bondi said in a.
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The CFPB’s suit was filed in the U.S. District Court for the Southern District of Florida, naming Ocwen and two of its subsidiaries–Ocwen Mortgage Servicing, Inc. and Ocwen Loan Servicing, LLC.
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The CFPB claims that it uncovered "substantial evidence that Ocwen has engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process." Recently, Ocwen.
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Florida Attorney General Pam Bond and Florida’s Commissioner of Financial Regulations filed its lawsuit against Ocwen and two mortgage servicing subsidiaries Ocwen Loan Servicing and Ocwen Mortgage Servicing for filing illegal foreclosures and other issues. The CFPB and Florida’s actions came within an hour after 20 states, led by North.
It’s been a decidedly rough afternoon for Ocwen Mortgage Servicing, Inc. (NYSE: OCN), as the multistate servicer was hit with a federal lawsuit from the Consumer Financial Protection Bureau – and, in separate actions, lost its ability to gain new mortgage servicing rights in more than 20 states*, including North Carolina and Wisconsin.