National Mortgage Settlement Monitoring Committee

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Ocwen fined $1 million for force-placed insurance issues

Sep 07, 2017By

Ocwen Financial will pay a fine of $1 million for running afoul of the terms of the National Mortgage Settlement by not properly refunding force-placed insurance premiums to certain borrowers during the first quarter of 2017. And because Ocwen previously failed the servicing metric in question in 2015, this most recent failure triggered a $1 million fine.