Homeowners Sue Ocwen Over Denied HAMP Modifications

Law360, New York (April 10, 2012, 6:16 PM ET) -- Aggrieved homeowners hit a pair of Ocwen Financial Corp. subsidiaries with a putative class action Friday, alleging the mortgage servicers wrongfully denied them permanent loan modifications under the federal Home Affordable Modification Plan and sought to profit from needless delays.

Brought in New York federal court by Andrew and Rosie Cavaciuti, the suit contends that Litton Loan Servicing LP and Ocwen Loan Servicing LLC “engaged in an array of unfair, deceptive and misleading practices and breaches of duty” by collecting exorbitant fees while stringing along homeowners...
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