State Of New York Awarded $150 Million In Foreclosure Settlement

December 27, 2014

Ocwen, an Atlanta-based firm, will pay New York’s Department of Financial Services (DFS) $150 million awarded due to their wrongful foreclosure activity.

According to a court filing, the lawsuit accused Ocwen of commiting fraud by overcharging borrowers in order to drive up its own profits.  The suit stated that Ocwen’s practices “exemplify how America’s lending industry has run off the rails.”

More information about the Ocwen Foreclosure Settlement can be found by visiting Reuters.

If you are concerned about a foreclosure, please contact us for a free consultation while the law is still on your side.


Reach Out to an Oakland Real Estate Attorney Today

Disputes concerning real estate can have a significant financial impact on individuals and businesses alike. If there is a dispute and it appears that a compromise is not possible, it may be necessary to initiate litigation. This could mean participating in settlement or mediation talks or even bringing a formal lawsuit to civil court.

An Oakland real estate lawyer may be able to help. They are prepared to take the lead in settlement talks that could help to avoid costly court cases. However, if the case does go to court, they will take every step necessary to protect your rights. Contact us now to learn more.