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33 states go after Ocwen/PHH Mortgage over servicing fees

A coalition of 33 state attorneys general filed a motion against PHH Mortgage and its predecessor Ocwen Loan Servicing for allegedly charging unlawful servicing fees to nearly one million borrowers.

The attorney generals, co-led by New York’s Letitia James and Minnesota’s Keith Ellison, are opposing a proposed class action settlement that would permit PHH to profit from mortgage payment processing fees made by phone or online and would allow PHH to increase the fees for the remaining life of the loan.

The motion states the proposed settlement was carried out too quickly, under the pandemic’s extenuating circumstances and estimates PHH charged the details ⇒

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