What is this lawsuit about?

This lawsuit is known as Weiner v. Ocwen Financial Corp., et al., Case No. 14-cv-02597. The lawsuit is about whether Ocwen improperly over-charged borrowers for certain “property valuation expenses,” including Broker Price Opinions and Hybrid Valuations, which allegedly contained undisclosed “mark-ups.” The Court has allowed the Lawsuit to be a class action on behalf of (1) all U.S. residents who have or had a loan serviced by Ocwen and who paid for one or more Broker Price Opinions or Hybrid Valuations charged by Ocwen through Altisource Portfolio Solutions S.A. ("Altisource"), from November 5, 2010 through the present and (2) all California residents who have or had a loan serviced by Ocwen and who were charged for one or more Broker Price Opinions or Hybrid Valuations charged by Ocwen through Altisource from November 5, 2010 through the present. You can read the Plaintiff’s Class Action Complaint at the Important Documents page.

Ocwen contends that all of its policies and procedures related to Broker Price Opinions and Hybrid Valuations complied with the law. Ocwen denies all the claims in the lawsuit and that it has done anything wrong. 

Ocwen has not been ordered to pay any money, and there has not been a settlement of this case. Accordingly, there are no damages or monetary benefits available now and no guarantee there ever will be. However, because the case was certified as a class action, your legal rights are affected, and you have a choice to make now.

Who is included?

The Court decided that all individuals who meet the following requirements are members of the Nationwide Class:

All residents of the United States of America who have or had a loan serviced by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC and who paid for one or more Broker Price Opinions or Hybrid Valuations charged by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC through Altisource, from November 5, 2010 through the present.

The Court has additionally certified the following sub-classes:

California Paid Sub-Class: All residents of the State of California who have or had a loan serviced by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC and who paid for one or more Broker Price Opinions or Hybrid Valuations charged by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC through Altisource, from November 5, 2010 through the present.

California Assessed Sub-Class: All residents of the State of California who have or had a loan serviced by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC and to whom charges for one or more Broker Price Opinions or Hybrid Valuations were assessed to their mortgage account by Ocwen Financial Corporation or Ocwen Loan Servicing, LLC through Altisource, from November 5, 2010 through the present.

Lawyers must prove the claims against Ocwen at a trial, but the trial date has not yet been set. If money or other benefits are obtained from Ocwen, you will be notified about how to ask for a share.