Mishandled Loan Doesn't Warrant $3M Verdict, 7th Circ. Told

Law360 (September 16, 2019, 7:22 PM EDT) -- A mortgage servicer urged the Seventh Circuit on Monday to reverse or reduce a $3 million punitive damages award won by a woman who claimed the company mishandled her account, saying there was no evidence its officers or directors knew about the problems with her loan.

The matter stems from a mistake made by an Ocwen Loan Servicing LLC employee who incorrectly coded Monette Saccameno's bankruptcy discharge as a dismissal, causing the company's records to reflect that she was delinquent. The company continued to pursue her for debts paid through her Chapter 13 bankruptcy process, and after a series of collection...

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