“Ocwen prevails over most of CFPB’s mortgage servicing lawsuit”

By Jody Godoy | MARCH 5, 2021 | WESTLAW NEWS

A federal judge in Florida has handed a win to Ocwen Financial Corporation in the U.S. Consumer Financial Protection Bureau’s lawsuit seeking to hold the company liable for an array of alleged mortgage servicing failures, saying most of the claims are precluded by an earlier nationwide settlement.

U.S. District Judge Kenneth Marra in West Palm Beach on Thursday granted partial summary judgment to the company, represented by Goodwin Procter. The CFPB had alleged that inaccurate recordkeeping and other servicing failures had caused borrowers nationwide to be overcharged by more than $100 million and led to some illegal foreclosures.

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