Weiner v. Ocwen Financial Corporation, et al.
Ocwen Fee Settlement
Case No. 2:14-cv-02597-DJC-DB

Welcome to the Ocwen Fee Settlement Website

If you have or had a loan serviced by Ocwen Loan Servicing, LLC and you paid for Broker Price Opinions or Hybrid Valuations between 2010 and 2017, you may be entitled to the benefits of a class action settlement.

What is This Class Action About?

Plaintiff alleges that Ocwen Loan Servicing, LLC and its parent company Ocwen Financial Corporation (together, “Defendants” or “Ocwen”) over-charged borrowers for certain property valuation expenses, including Broker Price Opinions (“BPOs”) or Hybrid Valuations (“Hybrids”), which Plaintiff alleges contained undisclosed “mark-ups.” Ocwen denies Plaintiff’s claims, and all alleged wrongdoing associated with Plaintiff’s claims. The Court has not decided who is right or wrong. Instead, the Parties have agreed to the Settlement to avoid the costs, risk, and delays associated with continuing this complex and time-consuming litigation.

How Do I Know if I Am a Member of the Settlement Class?

The Court certified a Nationwide Settlement Class that includes all residents of the United States of America who have or had a loan serviced by Ocwen and who paid for one or more BPOs or Hybrids charged by Ocwen through Altisource, from November 5, 2010 through September 29, 2017, the date of the class certification order in this action. The Court also certified a California Settlement Sub-Class that includes all residents of the State of California who have or had a loan serviced by Ocwen and to whom charges for one or more BPOs or Hybrids were assessed to their mortgage account by Ocwen through Altisource, from November 5, 2010 through September 29, 2017. The Nationwide Settlement Class and California Settlement Sub-Cass are collectively the Settlement Class.

What Does the Settlement Provide?

If approved, the Settlement will provide:

  • A $60 reimbursement for each BPO fee that Settlement Class Members paid during the class period;
  • A $70 reimbursement for each Hybrid fee that Settlement Class Members paid during the class period;
  • Reversals and/or credits for any California Sub-Class Members who continue to have loans serviced by Ocwen, in the amount of $60 for each BPO and $70 for each Hybrid fee that was assessed to the Class Member during the class period but for which the Class Member has not paid; and
  • Defendants’ modification of disclosures to borrowers in valuation-related correspondence and reports, and in any applicable fee schedules, to identify, as applicable, the “reconciliation” service added by vendors to BPO and Hybrid products.

 

FILE A CLAIM

Legal Rights and Options

Option/Deadline Description
File a Claim
Deadline: September 29, 2025
To receive a payment from the Settlement, you must submit a valid claim electronically or postmarked by September 29, 2025. By submitting a claim, you give up your right to sue or continue to sue Defendants for the claims in this case.
Request Exclusion
Deadline: July 12, 2024
To remove yourself from the Settlement (“opt out”), you must submit an exclusion request by July 12, 2024. If you exclude yourself, you will receive no payment from the Settlement, but this is the only option that will allow you to keep your right to sue or continue to sue Defendants for the claims in this case.
Object
Deadline: July 12, 2024
If you do not exclude yourself from the Settlement, you may object or tell the Court what you do not like about the Settlement. If you object, you must still submit a claim to receive a payment. Objections must be submitted by July 12, 2024.
Do Nothing If you do nothing, you will receive no payment from the Settlement and you will give up your right to sue or continue to sue Defendants for the claims in this case.
Attend a Hearing
September 19, 2024, at 1:30 p.m. PT
The Court will hold a Final Approval Hearing to consider whether to give final approval to the Settlement. You or your attorney may ask to speak at the hearing at your own expense, but you do not have to. To do so, you must file with the Court, by on or before July 12, 2024, a notice of intent to appear at the Final Approval Hearing.

For More Information

Visit this website often to get the most up-to-date information.

Mail
Ocwen Fee Settlement
c/o JND Legal Administration
P.O. Box 91338
Seattle, WA 98111