Attorney General Bondi and OFR Commissioner Breakspear Announce $2.1 Billion State-Federal Settlement with Ocwen Mortgage

TALLAHASSEE, Fla. – December 19, 2013 – (RealEstateRama) — Ocwen Financial Corporation of Atlanta, Georgia, and its subsidiary, Ocwen Loan Servicing, have agreed to a $2.1 billion joint state-federal settlement with Attorney General Bondi, 48 additional states, the District of Columbia, and the Consumer Financial Protection Bureau. The settlement resolves allegations of mortgage servicing misconduct by Ocwen and two companies later acquired by Ocwen, Homeward Residential Inc. and Litton Home Servicing LP. Ocwen specializes in servicing high-risk mortgage loans.