Weiner v. Ocwen Financial Corp.
Weiner v. Ocwen Financial Corp. Notice of Pendency
Case No. 2:14-cv-02597-MCE-DB

Frequently Asked Questions

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  • If you received a notice, it is because Ocwen’s records show that you have or had a loan serviced by Ocwen Loan Servicing, LLC and that you were charged or have paid for one or more Broker Price Opinions or Hybrid Valuations from November 5, 2010 through the present. The notice explains that the Court has allowed, or “certified,” a class action lawsuit that may affect you. You have legal rights and options that you may exercise before the Court holds a trial. Judge Morrison C. England, Jr. of the United States District Court for the Eastern District of California is overseeing this class action. The lawsuit is known as Weiner v. Ocwen Financial Corp., et al., Case No. 14-cv-02597.

  • The lawsuit is about whether Ocwen unlawfully charged borrowers for certain “property valuation expenses,” including Broker Price Opinions or Hybrid Valuations, which allegedly contained undisclosed “mark-ups.” You can read the Plaintiff’s Class Action Complaint at the Important Documents page. Plaintiff claims that Ocwen unlawfully “marked-up” charges related to the Broker Price Opinions or Hybrid Valuations. 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.

  • In a class action lawsuit, one or more people called “Class Representatives” (in this case David Weiner) sue on behalf of other people who have similar claims. The people together are a “Class” or “Class Members.” The person who sued—and all the Class Members like him—are called the “Plaintiffs.” The companies they sued (in this case Ocwen Financial Corporation and Ocwen Loan Servicing, LLC) are called the “Defendants.” One court resolves the issues for everyone in the Class—except for those people who choose to exclude themselves from the Class.

  • The Court decided that this lawsuit can be a class action and move towards a trial because it meets the requirements of Federal Rule of Civil Procedure 23, which governs class actions in federal courts. Specifically, the Court found that members of the class are: (1) all residents of the United States of America 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, 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.

    More information about why the Court is allowing this lawsuit to be a class action is in the Court’s Memorandum and Order, which is available 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.

  • The Court has not decided whether Plaintiff or Ocwen is correct. By establishing the Class and issuing the notice, the Court is not suggesting that Plaintiff will win or lose this case. Plaintiff must prove his claims at trial. The trial has not yet been scheduled.

  • Plaintiff seeks an award for damages, restitution, and other relief to compensate himself and each class member for Ocwen’s allegedly unlawful acts. The Plaintiff also seeks three times the amount of money class members paid for Broker Price Opinions and Hybrid Valuations based on a statutory penalty for Ocwen’s alleged practices.

  • No money or other benefits are available now because the Court has not yet decided whether Ocwen did anything wrong, and the two sides have not reached a settlement in this case. There is no guarantee that money or benefits will ever be obtained on behalf of class members. If money or benefits become available, and you have not excluded yourself from the Class, another notification will be distributed about the available money or benefits.

  • Judge England 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.

    Imporantly, the Court’s certification Order means that if you are in any state in the United States other than California, you must have paid for a Broker Price Opinion or Hybrid Valuation during the time your loan was serviced by Ocwen Loan Servicing, LLC in order to be a part of the Class—being charged for the fee alone, without having paid the fee, will not make you a part of any Class or Sub-Class in this lawsuit unless you are a resident of California. If, however, you are a resident of the State of California, then you may be a member of the California Assessed Sub-Class if you were charged for a Broker Price Opinion or Hybrid Valuation during the time your loan was serviced by Ocwen Loan Servicing, LLC, whether or not you ultimately paid for that Broker Price Opinion or Hybrid Valuation.

  • If you are still not sure if you are included, you can get free help by calling or writing to the lawyers in this case at the phone number or address listed in Question 17.

  • You have to decide whether to stay in the Class or ask to be excluded before the trial, and you have to decide this now.

  • If you want to remain a member of the Class, you do not need to do anything at this time. If you remain a Class Member, you will be bound by the result of this lawsuit. If the lawsuit is successful, you will share in any money or benefits that are recovered. If the lawsuit is unsuccessful, you will not receive anything, and you will be barred from seeking other relief against Ocwen for the claims asserted in this lawsuit. There is no guarantee that money will ever by obtained. However, if money is obtained, you will be notified about how to obtain your share (if any) if you are a Class Member and did not exclude yourself. If you do nothing now, regardless of whether the Plaintiff wins the trial, you will not be able to sue Ocwen about the same issues that are the subject of this lawsuit. This means that with respect to the charges related to Broker Price Opinions and Hybrid Valuations at issue, if you do nothing, you will be legally bound by all of the orders the Court issues and judgments the Court makes in this class action.

  • If you already have your own lawsuit for the recovery of charges related to Broker Price Opinions or Hybrid Valuations you paid to Ocwen and want to continue with it, you needed to ask to be excluded from the class. If you excluded yourself from the class—which also means to remove yourself from the class, and is sometimes called “opting out” of the class—you will not get any money or other benefits from this lawsuit, even if the Plaintiff obtains them as a result of a trial or from any settlement (that may or may not be reached) between Ocwen and the Plaintiff. If you excluded yourself, you will not be legally bound by the Court’s orders and judgments in this class action.

    If you start your own lawsuit against Ocwen after you excluded yourself, you may have to hire and pay your own lawyer for that lawsuit, and you will have to prove your claims. If you excluded yourself so you can start or continue your own lawsuit against Ocwen, you should talk to your own lawyer soon because your claims may be limited by time and subject to a statute of limitations.

  • The deadline to exclude yourself was August 27, 2019 and has passed.

  • The Court has appointed Daniel Alberstone, Roland Tellis, and Mark Pifko of Baron & Budd, P.C. as “Class Counsel.” Their contact information is provided below in Question 17.

  • If you wish to remain a Class Member, you do not need to hire your own lawyer because Class Counsel is working on your behalf. You may make an appearance in the case through another attorney if you choose. If you wish to pursue your own case separate from this one, you needed to file a request for exclusion. If you did so, you will need to decide whether to hire your own attorney.

  • If Class Counsel obtain benefits for the Class, they will ask the Court for fees and expenses. You will not have to pay these fees and expenses. If the Court grants Class Counsel’s request, the fees and expenses would either be deducted from any benefits obtained for the Class or paid separately by Ocwen.

  • Please visit the Important Documents page, where you will find important documents related to the lawsuit, including the Court’s Memorandum and Order, the Class Action Complaint, and additional up-to-date information about the lawsuit. You should check this website regularly for updates on the case.

    You may also contact one of the following attorneys appointed by the Court to serve as Class Counsel:

    Daniel Alberstone
    Roland Tellis
    Mark Pifko
    Baron & Budd, P.C.
    15910 Ventura Boulevard, Suite 1600
    Encino, California 91436
    Telephone: (818) 839-2333
    Facsimile: (818) 986-9698

    PLEASE DO NOT CONTACT THE COURT REGARDING THIS CASE.

For More Information

Visit this website often to get the most up-to-date information.

Mail

Weiner v. Ocwen Financial Corp.
c/o JND Legal Administration
P.O. Box 91343
Seattle, WA 98111