Biden Secures $7 Million For Delaware Borrowers

Delaware Attorney General Beau Biden hasannounced that Ocwen Financial Corporation and its subsidiary, Ocwen Loan Servicing, will provide $7 million to Delaware borrowers in the latest effort by his office to hold accountable those responsible for the mortgage foreclosure crisis. Today’s announcement with the nation’s fourth largest mortgage servicer is part of a national $2.1 billion national settlement with 49 states and the federal Consumer Financial Protection Bureau which holds Ocwen accountable for past mortgage servicing and foreclosure abuses, provides relief to homeowners, and stops future fraud and abuse.

“Our financial system only works when everyone follows the rules, and this settlement holds a financial institution accountable for breaking the rules and inflicting harm on homeowners and the economy,” Biden said. “The financial relief that my office has secured for Delawareans is a direct result of our ongoing investigations into the conduct that led to the economic crisis and our continued commitment to hold those responsible accountable for their actions.”
More