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: 
financial 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 Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.