Idaho part of nationwide foreclosure settlement

Idaho part of nationwide foreclosure settlement

Idaho part of nationwide foreclosure settlement

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by KTVB

KTVB.COM

Posted on December 19, 2013 at 4:53 PM

BOISE -- Some Idahoans will get mortgage reductions as part of a settlement over allegations of misconduct by Ocwen Financial Corporation.

Ocwen, which is based in Atlanta, Georgia, agreed to pay more than $2 billion in the settlement with Idaho, 48 other states, the District of Columbia and the Consumer Financial Protection Bureau.

A complaint filed in federal court alleges that Ocwen's misconduct resulted in premature and unauthorized foreclosures, as well as the use of false and deceptive documents.

Idaho Attorney General Lawrence Wasden says the settlement includes an estimated $3.7 million in first lien mortgage principal reductions for Idaho borrowers.

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