Monette Saccameno v. U.S. Bank N.A., trustee and Ocwen Loan Servicing LLC 7th Circuit Affirms $582,000 Punitive Damages Against Ocwen

Posted on December 3, 2019 by Neil Garfield

“We are not sure how many human errors a company like Ocwen gets before a jury can reasonably infer a conscious disregard of a person’s rights, but we are certain Ocwen passed it,” Circuit Judge Amy St. Eve wrote, joined by Circuit Judges William Bauer and Michael Brennan. [e.s.]

Editorial Note: Any lawyer who thinks these cases cannot be won and cannot be profitable for the lawyer and the client is simply not paying attention to the facts. While the size of the award was slashed to the amount of compensatory damages awarded by the jury, the larger point is that the assumption that punitive damages will not be granted is just plain wrong. A lawyer on full contingency in this case would have received over $400,000 in fees.

see Ocwen’s Attempt to Eliminate Punitive damages Rejected

From Westlaw:

The jury awarded Saccameno $500,000 in compensatory damages under the FDCPA and RESPA. It awarded another $82,000 in compensatory and $3 million in punitive damages under ICFA.

On appeal, Ocwen challenged only the punitive award, arguing that the 37:1 ratio of punitive to compensatory damages under ICFA was so large that it constituted a deprivation of property without due process of law.

Saccameno said the true ratio was 5:1, based on the aggregate compensatory award. The 7th Circuit said that under either calculation, $3 million was too much.

The Supreme Court has warned that punitive awards generally should not exceed a “single-digit” multiple of compensatory damages, and if the compensatory award is “substantial,” a 1:1 ratio might be “the outermost limit.”

Reducing the punitive award to $582,000 provided a 1:1 ratio to the “considerable compensatory award” under Saccameno’s aggregate approach and a single-digit, 7:1 ratio under Ocwen’s “claim-by-claim” approach, the 7th Circuit concluded.

The case is Monette Saccameno v. U.S. Bank N.A., trustee and Ocwen Loan Servicing LLC, 7th U.S. Circuit Court of Appeals, No. 19-1569.

For Saccameno: Nick Wooten and Mohammed Badwan of Sulaiman Law Group
For Ocwen: Anton Metlitsky and Ephraim McDowell of O’Melveny & Myers

Practice Note: Under the peculiar reasoning of the Supreme Court it might be tactically better to seek and obtain nominal damages then seek a high amount of punitive damages without the constraint of measurement against a “substantial” award of compensatory damages.

Also suits against the trustees and possibly the stockbrokers (“investment banks”) might also yield better results inasmuch as the truth about their behavior is more egregious, if you can prove it. At least Ocwen was pretending to do something real.

And remember what Eric Holder (former U.S. Attorney General) said: “Sue the individuals.”

 

 

For information on foreclosure defense call us at 800-459-1215. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.

 

 

 

DON'T LET THE BANKS TRICK YOU!

Get the FACTS & Evidence to win the legal remedy that you deserve today.

get-started-now

 

 

 

FRAUD STOPPERS Can Help You Stop Foreclosure and Mortgage Fraud

If you or anyone you know is facing foreclosure, or has already lost a property to foreclosure, and want to sue for mortgage fraudforeclosure fraud, wrongful foreclosure, or quiet title to your home FRAUD STOPPERS PMA can help you save time and money and increase your odds of success getting the legal remedy that you deserve. If you have received a Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) and you want to know how to respond to the Notice of Default (NOD) or a Foreclosure Notice (Foreclosure Complaint) join FRAUD STOPPERS PMA today because FRAUD STOPPERS has a proven system to help you fight to save your home from foreclosure and sue for mortgage fraud. FRAUD STOPPERS turnkey Quiet Title Lawsuit package or Wrongful Foreclosure Lawsuit package includes a court ready complaint (petition for damages), Bloomberg Securitization Audit, Expert Witness Affidavit, Application for Temporary Restraining Order (to stop a foreclosure sale or stop an eviction), Lis Pendens (to cloud the marketability of the title to the real property), and Pro Se legal education material that can show you how to win a Quiet Title Lawsuit or win a Wrongful Foreclosure Lawsuit. This entire court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package can help you save money in legal fees and help you increase your odds of success. Join FRAUD STOPPERS PMA today and get mortgage fraud analysis and the facts and evidence you need to get the legal remedy you deserve at www.fraudstopper.org/pma

 

 

FRAUD STOPPERS PMA

Feel free to connect with us . . .

Address: Birch Tree MO 65438
Phone: 800-459-1215
Email: Info@FraudStoppers.org

 

 

 

Fraud Stoppers Logo

DISCLOSURE: NOTICE OF Copyright © 2019  FRAUD STOPPERS, FRAUD STOPPERS PMA. Disclaimer: Any information or answers are provided for informational purposes only, does not constitute legal advice, and does not create PMA-Member relationship. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Legal Information is NOT Legal Advice: This site provides “information” that is only designed to help users safely cope with their own general legal needs. Legal information is NOT the same as legal advice — the application of law to an individual’s specific circumstances. FRAUD STOPPERS is a National Private Members Association (PMA). PLEASE TAKE NOTICE OF THE FOLLOWING MARS Disclosure[s] 12 C.F.R. 1015.: (1) FRAUD STOPPERS PMA is NOT Affiliated with any Government Agency or Any Bank Lender; (2) Even if YOU Accept any of  FRAUD STOPPERS PMA Products or Services Your Lender May Choose to NOT Change Your Loan.  FRAUD STOPPERS products and services are only available to Active Members of the FRAUD STOPPERS PRIVATE MEMBERS ASSOCIATION. To join FRAUD STOPPERS PMA click here: https://www.fraudstoppers.org/members-only/

 

 

close

Enjoy this blog? Please spread the word :)

Visit Us
Follow Me
Tweet