Ocwen Accused Of Forcing Costly Insurance On Homeowners

Law360, New York (March 28, 2012, 7:43 PM EDT) -- Ocwen Financial Corp. was slapped with a putative class action Tuesday in New York alleging it imposed expensive hazard insurance on homeowners who failed to obtain policies, joining a growing list of top mortgage servicers sued over the practice.

Lead plaintiff Sira Rohoman said she received a mortgage on a Bronx property in 2007. As the loan servicer, Ocwen was allowed to obtain hazard insurance for Rohoman under a force-placed policy if she failed to get one herself.

Rohoman signed up for hazard insurance in October...
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