Will pay $15 million to U.S., $15 million to consumers
Ocwen Financial disclosed Thursday morning that it will pay $30 million to settle a pair of lawsuits that accused the nonbank of falsely certifying that it was in compliance with Federal Housing Administration and Home Affordable Modification Program rules.
Ocwen revealed the settlement in a filing with the Securities and Exchange Commission.
In the filing, Ocwen stated that it reached an agreement in principle to settle two related cases, U.S. Ex rel. Fisher v. Homeward Residential, Inc., et al and U.S. Ex rel. Fisher v. Ocwen Loan Servicing, LLC, et al, which are referred to as the Fisher Cases.