A national loan servicing company will pay $34,000 in civil penalties and investigative costs, and refund or credit 24 Maine residents more than $50,000 in attorney fees they were assessed when their homes were foreclosed upon.
The Maine Bureau of Consumer Credit Protection said that under a consent agreement signed last week Florida-based Ocwen Financial Corp. has admitted that it pursued foreclosures against Maine homeowners based on paperwork the state found to be legally defective.
Consumer protection officials said Ocwen’s illegal filings continued into January of this year, even after the company’s lawyers had assured state regulators that the practice would stop. Ocwen said the additional filings were inadvertent.
This article appears through a media partnership with Maine Public.