Attorney General Kamala D. Harris Announces $2.1 Billion Mortgage Settlement with Ocwen (State of California)

(Source: State of California) SAN FRANCISCO - Attorney General Kamala D. Harris today announced a $2.1 billion multistate and federal settlement with Ocwen Financial Corporation and Ocwen Loan Servicing, LLC (Ocwen) over alleged mortgage servicing misconduct. The settlement makes California homeowners eligible to receive up to $268 million in first lien principal reductions and nearly $23 million in cash payments to borrowers. "This settlement will help homeowners who've been misled while trying to modify their Ocwen mortgages," said Attorney General Harris, "But our work isn't done. Too many California families are still ‎coping with uncooperative banks and mortgage...