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Violation Tracker Individual Record

Company: Ocwen Financial Corporation
Current Parent Company: Ocwen Financial
Penalty: $11,600,000
Year: 2020
Date: October 15, 2020
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Violation Description: The agreement between Florida and Ocwen provided at least $8.6 million in consumer relief, including $2.1 million to Floridians who were harmed as a result of Ocwen's alleged servicing failures, including untimely payments of borrowers' insurance premiums, improper imposition of lender-placed insurance and overcharging for property preservation inspections. Other benefits included at least $1 million in mortgage loan modifications and approximately $5.5 million in late fee waivers for eligible borrowers. Ocwen also agreed to pay more than $3 million in civil penalties and reimbursement for the Attorney General's fees and costs.
Level of Government: state
Action Type: agency action
Agency: Florida Attorney General
Civil or Criminal Case: civil
Facility State: Florida
HQ Country of Current Parent: USA
HQ State of Current Parent: Georgia
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.