On December 19, 2013, Tennessee, along with the Attorneys General of 48 states and the District of Columbia, and the Consumer Financial Protection Bureau (CFPB), reached a $2 billion joint-state federal settlement with Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing. Ocwen is the nation's fourth largest mortgage servicer. This agreement provides servicing standards to improve homeowner communications with Ocwen, and also relief to eligible homeowners through principal reduction and cash payments to foreclosed borrowers.
It will take some time for Ocwen to implement these programs and you should be contacted directly by Ocwen or the settlement administrator in 2014 if you are eligible. Ocwen borrowers should contact Ocwen at 800-337-6695 or ConsumerRelief@Ocwen.com to find out more information about principal reductions and whether they qualify under the terms of this settlement.
This list includes only significant filings and is not intended to be a complete record of the matter.