Goldman Sachs Escapes HAMP Suit, Ocwen Still Fighting

Law360, New York (March 3, 2014, 7:49 PM EST) -- A New York federal court on Monday dismissed claims against The Goldman Sachs Group Inc. but kept alive claims against an Ocwen Financial Corp. subsidiary in a class action alleging homeowners were misled over loan modification agreements negotiated under the federal Home Affordable Modification Plan.

U.S. District Judge Edgardo Ramos, in a 52-page decision, dismissed liability claims against Goldman Sachs and its former subsidiary Litton Loan Servicing LP, and claims against Ocwen Financial, but left breach of contract claims against Ocwen Financial subsidiary loan servicer Ocwen Loan Servicing LLC. The class action alleges that the loan servicers failed to live up...

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