Pension Fund Fights To Keep Ocwen ERISA Suit Alive

Law360 (April 20, 2020, 3:58 PM EDT) -- A union pension fund's trustees have urged a New York federal judge not to sink their suit accusing Ocwen Financial Corp. of exploiting homeowners during the 2008 financial crisis, arguing the mortgage lender is trying to skirt its responsibilities under federal benefits law.

In a corrected memorandum on Saturday, trustees of the United Food & Commercial Workers Unions & Employers Midwest Pension Fund shot back at a summary judgment bid from Ocwen, which fought back against accusations of mismanaging the underlying mortgages of various trusts the fund invested in.

While Ocwen and fellow defendant Wells Fargo have argued that the mortgages...

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