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The lawsuit sought $1.5 billion in punitive and exemplary damages but was settled out of court for an undisclosed sum. On December 19, 2013, California Attorney General Kamala D. Harris announced a $2.1 billion mortgage settlement with Ocwen Financial Corporation and Ocwen Loan Servicing over alleged mortgage servicing misconduct. California ...
The Consumer Financial Protection Bureau (CFPB), together with attorneys general and state banking regulators in 49 states, and the District of Columbia obtained a Consent Judgment requiring Ocwen Financial Corporation—who at the time, was the largest nonbank mortgage loan servicer in the country—and its subsidiary, Ocwen Loan Servicing, to ...
The bank's mortgage-servicing rights were sold to Litton Loan Servicing (owned at the time by Goldman Sachs, now owned by Ocwen). In June 2009, the company agreed to a legal settlement with the State of Massachusetts regarding predatory lending practices. They agreed to pay $10 million in consumer relief, civil penalties and costs.
More than 4 million Americans gouged by credit repair companies including Lexington Law and CreditRepair.com will soon collectively receive $1.8 billion in refund checks, the Consumer Financial ...
Navient, one of the largest student loan-servicing companies in America, will have to pay up after being sued for unfair practices. Attorneys claimed Navient enticed federal student-loan borrowers ...
Goldman Sachs's (GS) mortgage-servicing business has temporarily suspended evictions and foreclosures in a number of unnamed states, the investment bank disclosed in a regulatory filing today.
A mortgage servicer is a company to which some borrowers pay their mortgage loan payments and which performs other services in connection with mortgages and mortgage-backed securities. The mortgage servicer may be the entity that originated the mortgage, or it may have purchased the mortgage servicing rights from the original mortgage lender. [1]
Judge Shelley C. Chapman, of the U.S. Bankruptcy Court for the Southern District of New York, has ordered HSBC and Litton Loan Servicing (a Goldman Sachs subsidiary) to send officers with some ...