Ocwen Loan Servicing fees settlement

Ocwen Loan Servicing agreed to a class action lawsuit settlement to resolve claims it charged illegal fees for broker price options (BPOs) and hybrid valuations.

The settlement benefits individuals with a loan Ocwen serviced and whom it charged for one or more BPOs or hybrid valuations through Altisource between Nov. 5, 2010, and Sept. 29, 2017.

The settlement also benefits a California subclass of California residents with a loan Ocwen services and whom it charged for one or more BPOs or hybrid valuations between Nov. 5, 2010, and Sept. 29, 2017.

Plaintiffs in the home loan fee class action lawsuit claim Ocwen Loan Servicing and Ocwen Financial overcharged borrowers for BPOs and hybrid valuations through undisclosed markups. According to the class action lawsuit, Ocwen should have disclosed these fees.

Ocwen is a non-bank mortgage servicing company that operates under the brands PHH Mortgage and Liberty Reverse Mortgage.

Ocwen hasn’t admitted any wrongdoing but agreed to pay an undisclosed sum to resolve the class action lawsuit.

Under the terms of the settlement, class members can receive $60 for each BPO fee they paid and $70 for each hybrid valuation fee they paid. Members of the California assessed subclass can receive reversals or credits in these same amounts for any assessed fees they did not pay.

Ocwen also agreed to modify its disclosures to better inform consumers about the reconciliation service vendors add to BPO and hybrid valuation products.

The deadline for exclusion and objection is July 12, 2024.

The final approval hearing for the settlement is scheduled for Sept. 5, 2024.

To receive a settlement payment, class members must submit a valid claim form by Sept. 29, 2025.

Who’s Eligible

Individuals with a loan Ocwen serviced and whom it charged for one or more BPOs or hybrid valuations through Altisource between Nov. 5, 2010, and Sept. 29, 2017.

California subclass: California residents with a loan Ocwen services and whom it charged for one or more BPOs or hybrid valuations between Nov. 5, 2010, and Sept. 29, 2017.

Potential Award

Varies

Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

09/29/2025

Case Name

Weiner v. Ocwen Financial Corporation, et al., Case No. 2:14-cv-02597-DJC-DB, in the U.S. District Court for the Eastern District of California

Final Hearing

09/05/2024

Settlement Website

OcwenFeeSettlement.com

Claims Administrator

Ocwen Fee Settlement
c/o JND Legal Administration
P.O. Box 91338
Seattle, WA 98111
[email protected]
888-995-0316

Class Counsel

Daniel Alberstone
Roland Tellis
Mark Pifko
Peter Klausner
BARON & BUDD PC

Defense Counsel

Richard A Jacobsen
ORRICK HERRINGTON & SUTCLIFFE LLP

Melinda L Haag
Randall S Luskey