November 29, 2019 / 9:22 PM / 9 days ago

7th Circuit slashes homeowner’s punitive damages award in suit against Ocwen

A federal appeals court on Wednesday cut a $3 million award of punitive damages against Ocwen Loan Servicing to $582,000, but rebuffed the company’s attempt to eliminate it.

The 7th U.S. Circuit Court of Appeals rejected Ocwen’s argument that mere negligence or “human error” caused employees to threaten homeowner Monette Saccameno with foreclosure for several years after she brought her account current through a Chapter 13 bankruptcy plan, and to ignore her repeated requests for a correction.

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