$2 Billion Settlement by Mortgage Servicing Giant Ocwen Financial

Mortgage servicing giant Ocwen Financial Services has reached a national settlement over alleged improprieties by the company and its subsidiaries related to mortgage servicing and foreclosure practices. The settlement, following a joint investigation by the Consumer Financial Protection Bureau, state...

Bank of America Wins Reversal of Sanctions in Mortgage Foreclosure Case

An intermediate appellate court in New York has reversed a trial court’s decision sanctioning Bank of America for its actions in a home mortgage foreclosure case. The trial court had decided that the bank’s refusal to consider a reduction in principal owed by the homeowner, John A. Lucido...