August 18, 2019
State Latest News | Chellie Pingree | Bangor Metro | Paupers' Grave | Today's Paper

Loan servicer will pay penalties after admitting to illegally foreclosing on Mainers

Jon Elswick | AP
Jon Elswick | AP

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.

 



Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like