Loan Servicing Co. Investors Seek Final OK For $6M Deal
Law360, New York (October 16, 2017, 8:31 PM EDT) -- Investors in Home Loan Servicing Solutions Ltd. who accused the company and its bosses of fraud asked a Florida federal judge to grant final approval to a $6 million settlement, saying the payout is fair and recognizes the risks of moving forward with the long-running lawsuit.
The settlement, which was filed with the court in June, resolves claims related to Home Loan Servicing's alleged failure to disclose the risks that flowed from its close relationship with Ocwen Financial Corp., a mortgage originator and servicer that has gotten in trouble with regulators. Plaintiffs' attorneys at Saxena White PA will receive one-third of...
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