![]() ![]() The deal also stipulates that Ocwen must forgive over $198 million of mortgagers’ debt via loan modifications. The consent order requires Ocwen to pay $20 million in restitution to its borrowers and another $5 million in civil penalties, attorney’s fees, and costs of an administrator to oversee the completion of the restitution payments. Ocwen Loan Servicing LLC (“Ocwen”) came to an agreement to pay a $225 million settlement to restore the company’s license to service mortgages in California following allegations by the California Department of Business Oversight (“DBO”) that it had backdated loan payment notices.
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