How Many Lawsuits Have Been Filed Against Ocwen Federal Bank?


Quick Answer

The parent company of Ocwen Federal Bank, Ocwen Financial, had 331 active pending lawsuits against it as of January 2006. The total number of lawsuits filed isn't available, according to the South Florida Business Journal. Federal regulators shut down the Ocwen Federal Bank subsidiary.

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Full Answer

In 2013, the Consumer Financial Protection Bureau and attorneys generals in 49 states filed suit against Ocwen Financial, a mortgage loan servicer, for extensive misconduct. In 2014, the U.S. District Court in the District of Columbia ordered the company to reduce borrower principal by $2 billion and refund $125 million to 185,000 customers who had lost their homes to foreclosure.

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