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Home » Store » Servicing » Ocwen Settles HAMP Lawsuit; Avoids Downgrade

Ocwen Settles HAMP Lawsuit; Avoids Downgrade

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Ocwen Financial faced mixed results in servicing litigation recently while avoiding further downgrades of its corporate issuer default rating. Last week, Ocwen announced that it had agreed to settle two lawsuits brought by the Department of Justice involving the Home Affordable Modification Program and FHA mortgages. The pending $30 million settlement involves alleged violations of the False Claims Act, among other issues. The lawsuits were brought in 2012 by ...
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