Florida attorney general targets mortgage service provider for alleged misconduct

Florida Attorney General Pam Bondi announced April 20 that her office, along with the Florida Office of Financial Regulation Commissioner Drew J. Breakspear, has filed a lawsuit against Ocwen Financial Corporation of West Palm Beach and its subsidiaries, Ocwen Loan Servicing LLC and Ocwen Mortgage Servicing Inc., for alleged mortgage servicing misconduct.

“It is my office’s duty to protect the more than 125,000 Ocwen borrowers in Florida. Since 2014, when we first entered the multistate settlement with Ocwen, we have listened to Ocwen’s promises that they would ‘right the ship’ and resolve the improper mortgage servicing and foreclosure misconduct that has plagued it,” Bondi said. “Enough is enough. Florida’s distressed Ocwen borrowers should no longer have to endure costly servicing errors and unfair practices.”

The complaint alleges the defendants violated the Real Estate Settlement Procedures Act, the Florida Deceptive and Unfair Trade Practices Act and Chapter 494, Florida Statutes. Ocwen purportedly failed to provide basic services related to its mortgage products, which led to major financial harm for its customers.

“Protecting Florida consumers is a top priority at the Office of Financial Regulation,” Breakspear said. “We appreciate the partnership of Attorney General Bondi in this joint effort to take action against Ocwen and prevent further harm to Floridians. Florida continues to focus on assisting homeowners in our state who have made or currently make mortgage payments to Ocwen.”

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