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Ocwen Loan Servicing has set aside $100 million to voluntarily settle accusations that borrowers may have received misdated letters from the company that resulted in a referral for foreclosure.
New York Department of Financial Services Superintendent Benjamin Lawsky initiated allegations against Ocwen of backdating potentially hundreds of thousands of letters to borrowers which was likely to cause them “significant harm.”
According to Lawsky, these borrowers received a letter from Ocwen which denied a mortgage loan modification and informed the recipient that they had 30 days to file an appeal. However, the letters were allegedly dated more than 30 days prior to the mailing date so that by the time borrowers received the denial, the 30 days to file an appeal had already passed.
In a statement given by Ocwen on the Misdated Letter Claim Program website, the company says it “sincerely regrets any difficulty these letters may have caused and is committed to preventing such errors in the future.”
Borrowers have until May 2, 2016 to file a Claim Form to receive payment from Ocwen. According to the loan company, the majority of claims are reviewed and processed within 180 days after submission.
UPDATE: On Oct. 24, 2016, Top Class Actions viewers who submitted timely and valid claims for the Ocwen misdated letters claim program started receiving checks worth as much as $2,000!
Who’s Eligible
Eligible Ocwen borrowers included in this program are all individuals who received a misdated letter between Jan. 1, 2012 and Dec. 31, 2014 and were subsequently referred for foreclosure.
Potential Award
$300 – $3,000
Individuals who believe they were negatively affected by the Ocwen misdated letter and submit a Claim Form are expected to receive a payment between $300-$3,000 per loan.
Proof of Purchase
N/A
To receive payment from this program, individuals must file a Claim Form. Those who are able to attach copies of Ocwen letter(s) showing the misdated document, will have their Claim Form processed quickly. Regardless, Claims will be considered even if documents are not provided.
Claim Form Deadline
05/02/2016
Case Name
N/A
Settlement Website
Claims Administrator
Ocwen Misdated Letter Claims
PO Box 4349
Portland, OR 97208-4349
877-919-9184
info@OcwenMisdatedLetterClaims.com
Fax: 1-844-898-4508
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124 thoughts onOcwen Misdated Letters Claim Program
So people lost their homes because of their mistake…and $300-$3,000 is supposed to make up for it? Has anyone else gone after them for more??
Hey SG I been telling everyone something need to be done this is not right. Now Lee Steetlement paid there people 5,000 off the top but all they want to send homeowners is 300.00 that’s a bunch of S that’s not right yea some lost there homes and you’re so right but a lot of them still waiting what is 300.00 when Lee Steetlement people got 5,000 off the top like I said everybody all of us homeowners need to hire a lawyer that will work for the victims and will treat everyone Fair file a law suite against Lee Steetlement and Ocwen we can talk about this matter today and next year but we need to make a stand because this is not right if we all can come together we can stop this and send a message telling them we the homeowner not going to take this BS lieing down any more
Owen wil not disclose the process of determining how they determine who receives what amount. Does anyone know where else to inquire.
I called again today and requested that they look into my claim as the 180 days has passed and they said they would put in a request to do so and would get back to me middle of next week.
Have you heard back?
I called today and was told my claim was still in review, and that they have started to mail out settlement checks.
I was also informed that if a claim was denied that they would send out a denial letter. This is taking WAY too long.
My next mortgage will definitely NOT be through Ocwen, Best of luck to you all !
I’d like to know what determines the amount of the check?
You should contact Ocwen with any specific questions about your claim. Here’s the contact information: http://www.ocwenmisdatedletterclaims.com/en/Home/ContactUs. Good Luck!
They don’t offer any details….just general information. Guess it’s a “wait & see.”
I hate that I had to do a short-sale because of my modification being denied 3 times.
I think I want to contact my attorney….I had to give up my family’s home on family land….
Same happened to me
Got my check for $3000 yesterday. Went to deposit it (at the same bank the check was from) only to find out they have put a hold on it, don’t know for how long yet. Go figure, even once I get the check I STILL have to wait. Has anyone else ran in to there being a hold put on it? My check said “for deposit only” so I had no choice but to deposit it.
Linda, I also received a check for 3000.00, it was placed on a seven day hold at my bank.
My bank was going to put a 10 day hold on it, that was why I went to the bank that issued the check and opened an account with them to deposit it. Luckily, even though they told me there would be a hold, it was available the next day.
UPDATE: On Oct. 24, 2016, Top Class Actions viewers who submitted timely and valid claims for the Ocwen misdated letters claim program started receiving checks worth as much as $2,000!
Got my check on Monday October 24th, 2016 for $600.00 I live in California.
Received my check yesterday.
Be patient the checks are coming soon.
SHOCKER!! I got a $2,000 check
Received our check today. We live in Indiana. $300.00