Ocwen Settles Backdating Allegations in CA

Ocwen Inks $225M Deal Over Backdating Calif. Loan Docs
– Law360

Law360 covered Manatt’s representation of Ocwen Loan Servicing LLC against allegations brought by the California Department of Business Oversight that the mortgage servicer backdated mortgage payment notices. Manatt’s Donna Wilson, co-chair of the firm’s financial services litigation and enforcement practice, represented Ocwen in the matter.

On February 17, Ocwen agreed to a $225 million deal to settle the claims. The settlement marks an end to all allegations that Ocwen committed violations of state and federal laws and regulations and restores the company’s ability to service new California mortgages.

Read the article here

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