Last year, along with authorities from 49 states and the District of Columbia, we ordered Ocwen Financial Corporation and Ocwen Loan Servicing to provide $ 125 million to foreclosure victims.
The National Ocwen Settlement Administrator is responsible for handling settlement claims and has created a website with information for consumers who were harmed by Ocwen’s actions.
Submit your claim online or by mail
The National Ocwen Settlement Administrator has contacted foreclosed borrowers and mailed notice packages last week. Once the materials arrive, you can submit your claim online. You’ll need your personalized claimant ID number (located on the form you receive in the mail) to complete your submission. Be sure to submit the online claim form by September 15, 2014.
If you choose to submit your claim form by mail, follow the instructions in the materials you receive in the mail from the National Ocwen Settlement Administrator. Claim forms submitted by mail must be postmarked by September 15, 2014.
You won’t receive a settlement if you don’t file your claim. All eligible borrowers who submit valid claims will receive an equal share of the $ 125 million. If you receive payments, you will not have to release any claims and will be free to seek additional relief in the courts.
Filing a claim is free
Watch out for scammers claiming that they will help you with your claim. When large numbers of consumers get refunds, scammers sometimes pop up. The scammer may charge you a fee or try to steal your personal information. If someone tries to charge you, tries to get you to disclose your personal information, or asks you to cash a check and send a portion to a third party in order to “claim your refund,” it’s a scam. Call us at (855) 411-2372.
Still have questions?
If you have questions about your claim, eligibility, or the settlement, check out the commonly asked questions or call the National Ocwen Settlement Administrator at (866) 783-5382, Monday through Friday, 7 a.m. – 7 p.m. CT.
Continue Reading
Today, we’re releasing our third Snapshot of Complaints Received from Servicemembers, Veterans and their Families. The report details the data and trends from consumer complaints we’ve received from members of the military community since July 2011.
Here are just a few highlights:
- Debt collection complaints have continued to rise since our last report, and now make up 39 percent of total complaints. It is our largest category of complaints from the military community.
- Credit reporting remains a top category of concern. 72 percent of these complaints are about incorrect information on credit reports. This remains a significant issue for the military community, one that we highlighted earlier this year.
- Student loans are another concern. 49 percent of these complaints are about problems dealing with a lender or servicer. In these complaints, we continue to see long-standing trends, such as servicemembers complaining about not being provided their Servicemembers Civil Relief Act rights.
This year our report also highlights our outreach efforts that allowed us to connect with thousands of members of the military community, as well as three of our enforcement actions that recovered millions of dollars for affected consumers, primarily servicemembers, veterans, and their families. These figures represent the positive impact of the work we continue to do on behalf of those who serve.
Problems with account services
Basic account servicing stands out as a significant area of concern for servicemembers. Most consumers can call their financial institution, visit a branch, or connect online to try and get the help they need to maintain their account. Unfortunately, for military personnel and their families, the realities of military life, including deployments, frequent moves, and a high operational tempo, can sometimes make access to those services extremely challenging.
We found that servicemembers were often subject to a variety of account maintenance or penalty fees, as well as account-access restrictions, which were triggered due to aspects of their military service.
These problems raise concerns that financial institutions may not have a true understanding of the servicing needs of their military customers and may lack proper procedures and protections for them. Detailed examples of servicemember experiences can be found in Section II of the report.
Check out the snapshot to learn more.
We’re listening
As always, if you have a problem with a consumer financial product that you can’t resolve on your own; or if you know someone in that situation, please remember that you can submit a complaint online or by calling (855) 411-2372. We make your voice heard.
