OCWEN FILES MOTIONS FOR RESTRAINING ORDERS AND INJUNCTIONS AGAINST ILLINOIS AND MASSACHUSETTS MORTGAGE REGULATORS

WEST PALM BEACH, Fla., April 25, 2017 (GLOBE NEWSWIRE) — Ocwen Financial Corporation, (NYSE:OCN) (Ocwen or the Company), today announced the filing of two emergency motions requesting immediate court action restraining the cease and desist orders brought by the Illinois Department of Financial and Professional Regulation, Division of Banking and the Commissioner of Banks of the Massachusetts Division of Banks.

As discussed in today’s legal filings, Ocwen believes that the Illinois and Massachusetts orders will cause significant harm to the consumers in those states, including potentially those consumers with pending mortgage applications, and those seeking loan modifications. Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the Company. The allegations at issue do not arise out of a recent assessment of Ocwen’s business activities. Instead, they come from a 2015 multi-state examination of the Company’s mortgage servicing business by the Multi-State Mortgage Committee (MMC), which covered Ocwen’s activities from January 2013 to February 2015. The MMC concluded its examination well over a year ago, in December 2015.

Over the course of almost two years, Ocwen and the Company’s Board of Directors have been in regular communication with its state mortgage regulators, including those in Illinois and Massachusetts. During those communications, Ocwen shared information regarding the significant operational and programmatic enhancements that the Company has made. For example, as it relates to borrower escrow accounts, one of the primary areas of concern in the orders at issue, independent reviews have consistently confirmed Ocwen’s escrow practices are in line with common industry standards for timeliness and accuracy.

Read on.

 

ATTENTION: Maryland residents if you have, or you had a mortgage loan serviced by Ocwen you may be eligible for a significant discount on the mortgage loan. 

 

As you know Ocwen is in hot water for its loan servicing and loan modification practices and they may be very open to negotiating a significant discount on the loan. For example Michael C in Baltimore, MD received an Ocwen Discount Payoff Agreement stating he has been approved for a discounted payoff amount of $7,000, on a loan that was more than $200,000!

Ocwen Discount Payoff Agreement
Ocwen Buyout

Ocwen may be offering these extreme discounted payoff amounts for Maryland residents at this time because of recent developments and news stories related to Maryland’s cease-and-desist order for Ocwen.

If you are a Maryland homeowner who currently has, or had, a mortgage loan serviced by Ocwen and you are late on your mortgage payments, facing foreclosure, or you have lost your home to foreclosure, register for a free mortgage fraud analysis right now using the form below and FRAUD STOPPERS PMA will conduct a free Bloomberg Securitization Search and mortgage fraud investigation to determine what potential causes of action your mortgage loan qualifies for.

FRAUD STOPPERS PMA FREE FRAUD ANALYSIS

If you are in foreclosure or you have lost your home to foreclosure and you want to sue for mortgage fraud or foreclosure fraud, FRAUD STOPPERS PMA can help you save time and money, and increase your odds of success, with a court ready Quiet Title or Wrongful Foreclosure lawsuit package. 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) call FRAUD STOPPERS PMA today because our prove system can help you fight to save your home from foreclosure fraud and/or mortgage fraud. Our court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Packages includes a turnkey 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 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 is only $1495 and can help you save thousands of dollars in legal fees and help you increase your odds of success. For payment options or more information on this court ready Quiet Title Lawsuit Package or Wrongful Foreclosure Lawsuit Package please contact FRAUD STOPPERS PMA today at 844.372.8378 or open a case file for a Free Mortgage Fraud Analysis and Bloomberg Securitization Search to see if your current mortgage loan situation qualifies for a Quiet Title or Wrongful Foreclosure lawsuit here: https://www.fraudstoppers.org/free-mortgage-fraud-analysis/

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