Hopefully Michigan foreclosure victims will see news like this.

North Carolina homeowners are set to get claim forms for the mortgage servicing giant Ocwen mortgage company.

More than 3,400 North Carolinians who might be eligible for payments from a national mortgage settlement with Ocwen Financial Corp. should start receiving claim forms this week, Attorney General Roy Cooper’s office said Tuesday.

Announced in December, the $2.1 billion settlement involving Ocwen and two companies it purchased resolves claims that consumers were harmed by mortgage-servicing practices that included robo-signing of foreclosure documents, unauthorized fees and the failure to apply mortgage payments in a timely and accurate manner.

As part of the settlement reached with the Consumer Financial Protection Bureau and attorneys general from 49 states and the District of Columbia, Ocwen has agreed to pay $125 million to refund approximately 184,000 U.S. borrowers.

According to Cooper’s office, affected borrowers will likely receive refunds of $679 to $1,235 apiece. Payment amounts will depend on how many people submit claims by a deadline of Sept. 15, the office said.

Payment checks are expected to be mailed to borrowers in late 2014 or early 2015.

“Foreclosures can be devastating to individual families, their neighborhoods and communities,” Cooper said in a statement. “With this settlement, people who lost their homes to foreclosures done wrong can get some money back.”

Claims packages will be sent to North Carolina borrowers who lost their home to foreclosure between Jan. 1, 2009, and Dec. 31, 2012, and whose loans were serviced by Ocwen, Litton Loan Servicing and Homeward Residential Holdings, formerly known as American Home Mortgage Servicing, Cooper’s office said.

Approximately $2 billion of the national settlement is expected to be used to help borrowers avoid losing their homes to foreclosure by reducing the principal on their loans. North Carolina is receiving $26 million of the settlement for that purpose.

In addition to the Ocwen deal, North Carolina has participated in other settlements over mortgage practices.

This news could be very good news for homeowners that want to stop foreclosure in Michigan.

This could be good news for Michigan homeowners wanting to stop foreclosure. This news really shows that Ocwen mortgage company screwed over many homeowners and foreclosed on homes when they shouldn’t have. There are thousands of homeowners that failed to stop foreclosure in Michigan due to mortgage companies like this one. Residents of the state of Florida are now one step closer to receiving settlement checks from Ocwen Financial Services (OCN), as claim forms have been sent to more than 26,000 Florida residents who lost their homes due to “mortgage servicing misconduct and foreclosure abuse,” according to Florida Attorney General Pam Bondi.
In December, Ocwen agreed to a $2.1 billion settlement that stemmed from a Consumer Financial Protection Bureau investigation into its servicing practices.
As part of that settlement, the company agreed to pay $125 million to homeowners who had their homes foreclosed on by Ocwen from January 1, 2009 to December 31, 2012.

“Deceptions and shortcuts in mortgage servicing will not be tolerated,” said CFPB Director Richard Cordray said at the time. “Ocwen took advantage of borrowers at every stage of the process. Today’s action sends a clear message that we will be vigilant about making sure that consumers are treated with the respect, dignity, and fairness they deserve.”
Nationally, there were an estimated 183,984 loans foreclosed on by Ocwen during that time. Florida’s share was the second highest in the county with more than 26,000 borrowers affected. Floridians are eligible to receive $17.8 million of the $125 million set aside for homeowners.
According to Bondi’s office, the payment to individual claimants will depend on the number of claims filed but is projected to exceed $1,000. Packages including a claim form and instructions have begun to be mailed out to Florida’s eligible borrowers.
“This settlement fund provides Floridians who lost their homes to foreclosure some financial relief for mortgage servicing misconduct and foreclosure abuse,” Bondi said. “I strongly encourage all eligible Floridians to submit claim forms by the Sept. 15 deadline.”
Payment checks will be mailed to the claimants beginning in early December.

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