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A Philadelphia-area woman has filed a class action lawsuit against Ocwen Loan Servicing, LLC, accusing the mortgage servicer of taking an illegally long number of days to file documents acknowledging that she had satisfied the mortgage on her home.
Lead plaintiff Jill Dempsey alleges in the Ocwen Loan class action lawsuit that the Pennsylvania Mortgage Satisfaction Act and the U.S. Real Estate Settlement Procedures Act both require mortgage servicers ot file documents with the appropriate local officials within 60 days a mortgage is paid in full, but Ocwen allegedly failed repeatedly to respond to her requests to fill loan satisfaction papers.
Both the Pennsylvania MSA and the U.S. RESPA agree on when the clock begins on the 60-day window; it’s not following the actual payoff date, but after the customer sends a written request to the servicer, according to the Ocwen class action lawsuit.
The Ocwen Loan class action lawsuit says that Dempsey took out a $47,000 home equity line of credit in December 2004, with GMAC Mortgage Corporation, as a second mortgage secured by her home in Chester County, Penn. In February 2013, the servicing was transferred to Ocwen.
Soon after the transfer, Dempsey sought to refinance her first mortgage, and so attempted to pay off her home equity line of credit. Informed by Ocwen that the payoff amount was $14,031.75, she sent the payoff amount to Ocwen in two separate wire transfers on July 11 and July 12, 2013, according to the class action lawsuit. On July 15 and July 16, she allegedly received email confirmation that the payments had been received and her mortgage had a zero balance.
Thereafter, according to the Ocwen class action lawsuit, Dempsey made three written requests — on July 13, 2013; Aug. 15, 2013; and Sept.r 5, 2013 — but was told in one case that the filing of mortgage satisfaction documents could take “up to six months.” The documents allegedly were not filed until March 21, 2014 — 252 days following Dempsey’s first written request, or 192 days beyond the requirement by both Pennsylvania MSA and the U.S. RESPA, the Ocwen class action lawsuit claims.
Dempsey claims she suffered economic harm and actual damages, including being unable to refinance her first mortgage on her home; having to pay a higher interest rate in her first mortgage than that which she would have paid; and having to file this class action lawsuit. The class action lawsuit indicates that damages could exceed $5 million.
Dempsey seeks to represent all of the mortgage holders who paid off their Ocwen loan, but for whom Ocwen did not file loan satisfaction paperwork within 60 days — a Class that the class action lawsuit states is impossible to quantify but which could be “many hundreds and perhaps thousands of individuals” who could be identified through Ocwen’s records.
Dempsey is represented by Eric Lechtzin and Todd Collins of Berger & Montague PC.
The Ocwen Mortgage Satisfaction Class Action Lawsuit is Jill Dempsey v. Ocwen Loan Servicing LLC, Case No. 2:14-cv-02824, in U.S. District Court for the Eastern District of Pennsylvania.
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8 thoughts onOcwen Loan Class Action Lawsuit Alleges Late Mortgage Doc Filing
I had ocwen in 2016. Add me
I’m still having problems with ocwen I live in New York when are you going to stop these thieves!! ?
They kept giving me empty promises and denials of my application for modifications run around and excessive changes and everything in the end they foreclosed on me and my kids with no place to go promised me even a relocation allowance then once I left the home they claimed I didn’t qualify for the relocation allowance they are crooks and took my home from me and my kids…still haven’t been able to find another home or a possibility of buying one cause on top of it ruined my credit …I would never use them to purchase a home again…I wish I could get compensated for everything they took from me and the hell they put me and my kids threw with no place to go
Owen serviced our loan when we first t bought our house in 2000 with a 13% interest which I was told we were selling our souls to the devil.When we were late we had to pay $900.for 6 mo.but our mortgage was around 500. They were the mortgage co .from hell.They made our life a living hell as well until we refinanced it.When we bought the house ,they had an appraiser that came out to inspect to see about heaters which was wall heaters that weren’t even connected to the fuse box but he said ,oh itself that heat.They manipulated the documents which most was untrue but we needed a home badly because we had our daughter and 3 grandkids living with us.It was our first home and was naive.They had a check to hold as it was required and was not to be cashed but they cashed it the very next month.It was a good faith check.They are a very bad company to deal with and cannot be trusted.Iknow it’s to late but I still have all the documents that showed their decieve.They put us thru hell and I wish I could return the favor!!I would advise anyone to stay clear from them.
Ocwen are definitely crooks! They informed Transunion and other credit agencies my wife and I were late with 8 or more payments. In addition, Ocwen changed my escrow account to only deduct taxes and not home insurance. They repeatedly threatened us with foreclosure. They paid two different Insurance agencies Farmers and AmFam to insure the same dwelling for more than a year. They increased our mtge payment from $1055.00 to varying amounts up to and including more than $1500.00 with no explanation. I am a Vietnam Veteran on a fixed income. They continually harassed us with mail and telephone calls for months and months up to date. Our agreement was that the 1055 payment would remain the same for 2 years of the inception date and they kept raising the payment violating our agreement! They are the SCU M OF THE EARTH! I currently have an attorney looking into the matter. What creeps! They have ruined my credit so I cannot refinance my home and get away from them.
This “company” made my life a living hell . They stole my home away from my children and myself . They are thieves . Nothing but crooks !!
Biggest crooks in history pay off mortgage in jan 2014 Still dont have a clear title to my property
? We experienced this with Ocwen but it was back in the mid to late nineties. Is this to long ago?