Ocwen pays Massachusetts $3.7 million to resolve foreclosure claims

Ocwen to Pay $3.7 Million to Settle Massachusets Claims. Ocwen Financial Corp. (OCN) agreed to pay $3.7 million to end a Massachusetts lawsuit claiming it didn’t give homeowners required notices and illegally foreclosed on properties, the state’s attorney general said. Under the deal, homeowners will get $3 million of the settlement, with the balance going to the state, Attorney General.

Ocwen Financial Corp, the fourth largest mortgage servicer in the United States, has agreed to pay the state of Massachusetts $3.7 million to resolve claims that it failed to provide adequate notices to homeowners as required under the law and illegally foreclosed on properties.

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