May 18, 2018 / 9:13 PM / 3 months ago

New force-placed insurance lawsuit for mortgage giant Ocwen Financial

Mortgage servicer Ocwen Loan Servicing has been hit with a proposed class action in Los Angeles federal court accusing it of overcharging homeowners for property insurance, the latest of several legal actions over its so-called force-placed insurance.

Filed on Thursday on behalf of thousands of California homeowners, the lawsuit said Florida-based Ocwen took kickbacks on insurance that mortgage borrowers were forced to buy when their own policies lapsed, then passed the cost of the kickbacks on to the borrowers.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2rS4QUG

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