Ocwen has suffered some big blows in the past few years, this lates black eye cannot do them any good. My understanding is that they are still the biggest non-bank mortgage servicer. Let's hope that they start getting it right, instead of wrong.

Anyway, if Ocwen Financial Corporation (Helping Homeowners is What We Do!®) is your mortgage company, you may have recently received a claim form for you to fill out to seek a payment of $300-$3000, if you received a misdated letter from them.

Last year, the N.Y. Dept of Financial Services investigated and determined that Ocwen had back-dated certain letters to borrowers. Many of the letters concerned the denial of loan modifications, giving the borrowers only 30 days to appeal the denial. By the time the letter was received, the time to appeal had passed. Other letters provided borrowers facing foreclosure with dates to cure their loans that had already passed.

Ocwen has established a voluntary claim program to pay money to borrowers who received backdated letters. To be eligible for a payment, you: (a) must have received an incorrectly dated letter between Jan. 1, 2012 and Dec. 31, 2014 that contained a deadline for borrower action; and (b) must have subsequently been referred to foreclosure.

If you received your claim packet already, you must submit it by May 2, 2016. If you believe you are eligible and did not receive a claim form, you can go to www.ocwenmisdatedletterclaims.com and get one and also more information.

So far as I know, if you did suffer significant damages from a misdated letter, even if you accept the $300- $3000 pittance that Ocwen is offering for a misdated letter that could have cost you your house, you still have your right to sue them for your damages. If anyone has any other information about that, please update us. 

Do you have any experience with misdated letters from Ocwen or any other mortgage servicer? Do you have any other mortgage servicing issues that you would care to share? Any comments or questions, please leave them below.

Be the first to comment!
Post a Comment