A settlement with mortgage servicer Ocwen Financial is expected to net some Oregon mortgage holders $11,000.
A multi-state investigation concluded that: Ocwen failed to accurately apply mortgage payments made by borrowers; that it charged unauthorized fees; and it provided false information to customers.
Now in a settlement with Oregon, 48 other states, DC and the feds, Ocwen has agreed to a $2 billion dollar settlement.
$23 million is expected in Oregon.
Oregon Department of Justice spokesman, Michael Kron, says there are several ways people can find out if they’re due money, “If you’re in a situation where you’re currently in your home and you want to find out if you’re eligible for your settlement, one thing you can do is look at your mortgage statement and see if you’re mortgage servicer is Ocwen,” he said.
Anyone who was foreclosed upon should be contacted directly.
The settlement is subject to approval by a federal judge.
