AG Gansler Recovers Additional $88 Million for Distressed Maryland Homeowners Victimized by Ocwen Mortgage Servicing Abuses

Baltimore, MD – December 19, 2013 – (RealEstateRama) — Attorney General Douglas F. Gansler, joined by 49 other state and territorial attorneys general and the Consumer Financial Protection Bureau (CFPB), today announced a $2.1 billion joint state-federal settlement with Ocwen Financial Corp., and its subsidiary, Ocwen Loan Servicing. Maryland is projected to receive $85.7 million for first lien principal reductions for distressed borrowers and an additional payment, projected to exceed $1,000 each, for eligible Maryland borrowers whose homes have been foreclosed