A $2.1 billion settlement between 49 state attorneys general and Ocwen Financial Corp. will result in $39.8 million in loan principal reductions for Connecticut borrowers, Attorney General George Jepsen announced.
The settlement resolves allegations that the country’s fourth largest mortgage servicer was involved in premature or unauthorized foreclosures and used deceptive and false documents and affidavits — including the infamous practice of “robosigning.”
In additional to principal reductions, approximately 1,612 Connecticut borrowers will be eligible for a cash payment from a national pool of $125 million. The payments are expected to exceed $1,000.
Jepsen said the settlement does not bar affected borrowers from suing Ocwen.
Borrowers can contact Ocwen at 800-337-6695 or at ConsumerRelief@Ocwen.com
