If you were charged by Ocwen under a hazard, flood, flood gap or wind-only Lender Placed Insurance Policy for residential property, you may be entitled to a settlement award! Online claim filing is available…
In Lee v. Ocwen Loan Servicing, LLC, Plaintiffs allege that when a borrower was required to have insurance for his or her property pursuant to a residential mortgage or home equity loan or line of credit, and evidence of acceptable coverage was not provided (for example, when the insurance policy did not exist or had lapsed), Ocwen would place insurance in a manner such that Ocwen allegedly received an unauthorized benefit. Plaintiffs allege further that Ocwen did so primarily to receive “kickbacks” in the form of commissions or other payments from the Assurant Defendants. Plaintiffs also allege that the way in which Lender Placed Insurance policies were obtained and placed caused the rates and the amount of coverage to be excessive.
Awards will be cash or credit in the amount of 12.5% of the Net Premium charged to the claimant during January 1, 2008 through January 23, 2015 for the Lender Placed Insurance Policy by Ocwen.
Click here to see if you qualify for this settlement and fill out a claim form. It’s your money, what are you waiting for?!