Joint Release: AG Van Hollen and DFI Secretary Peter Bildsten Announce $2.1 Billion Joint, State-Federal Settlement with Ocwen to Address Mortgage Servicing and Foreclosure Wrongs

MADISON – December 20, 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 J.B. Van Hollen, 48 additional states and the District of Columbia, and the Consumer Financial Protection Bureau (CFPB). Wisconsin consumers are projected to receive more than $13 million in reductions on mortgage principal and direct cash payments from Ocwen.