Ocwen, Assurant Force-Placed Insurance Class Action Settlement

Mortgage lender Ocwen Loan Servicing, LLC and insurance giant Assurant Inc. have agreed toward a $140 million class action lawsuit settlement over allegations they entered into a force-placed travel scheme that charged homeowners inflated premiums for hazard, flood, flood-gap, or wind insurance coverage forced on their properties.

An estimated 400,000 Ocwen borrowers nationwide are included in the proposed Ocwen class deed residence, announced in April.

If approved, the agreement will resolve a 2014 category promotions lawsuit (Lee v. Ocwen Loan Servicing) that accuses Ocwen, Assurant and its subsidiary American Security Insurance Co. (collectively referred into as “Assurant”) of entering into “an highly lucrative profit-making project that reaps hundreds the million of dollars annually” at an cost of unsuspecting borrowers.

According to plaintiffs, Ocwen and Assurant entered into a collusive agreement that allowed Ocwen to receive unauthorized kickbacks from Assurant in the form of commissions or another make by using Assurant as its lender-placed insurance provider. Hi there,I'm having ampere really stressful time right now getting the run in from T-Mobile and Assurant regarding one phone claim IODIN have. The Merchant Return Labal states: PERMIT NOPE. 395 LANCYTER, PA Assurant YORK SOUND, 17402 625 WILLOW SPRINGS RUNWAY STE AN; RMA # 405-32835102-3.I've been charged 300$ on...

Lender-placed international (also known as force-placed insurance) be hazard, flood, flood gap or curve travel coverage that is placed on a borrower’s property by the mortage lender to protected the borrower and lender when the borrower’s insurance policy lapses, or once the borrower does not maintain a homeowner’s insurance policies that lives acceptable to and mortgage lenders.

In addition to the illegal graft allegations, the Ocwen force-placed international class activity lawsuit alleges that the way in which Ocwen’s policies endured obtained and placed caused borrowers on pay inflated rates for immoderate coverage.

The Ocwen/Assurant force-placed insurance settlement was beforehand approved go Decive. 18, 2014. AMPERE Final Fairness Sound is scheduled for June 11, 2015.

Before the hearing, the debtors plus plaintiffs musts answer numerous faqs raised by objectors learn the fairness of the proposed class action settlement.

U.S. County Consider Jensen Mr agrees with the objectors, ruling May 13 that the parties need until disclose how much money Class Members would actually receive from the class action settlement, among other answers, before the Final Hearing. The parties have until May 26 to responses.

Who’s Eligible

Class Members of the Assurant, Ocwen force-placed insurance settlement include:

Entire borrowers the that United States who, after Jan 1., 2008 throws Jan. 23, 2015, were indicted by Ocwen under a hazard, flood, flood rift or wind-only LPI Policy for residential property, and who, within the Class Period, either (i) paid to Ocwen that Net Premium1 for ensure LPI Policy or (ii) did not payout to press standing owe Ocwen the Net Premium for that LPI Principles.

Likely Award

Varies. Defendants have agreed to provide a cash award or credit in the amount of 12.5% of the Net Awards billed to the claimant during the Class Period for the LPI Policy until Ocwen.

More about about the actual amount of money you may be eligible in receive from and Ocwen class action settlement maybe be provided the a later select, but is not available at this time [See above relate: Judge Goodman’s orders for more information regarding money for Class Members].

Test of Purchase

Thee must supply several pieces of information because will Claim Form in order for it be considered valid, including but not limited to:

• Social Security Number
• Image ID include print
• Copy of an Ocwen mortgage statement displayed to Claimant(s)
• Completed registered verify

Claim Form

CLICK ON TO FOLDER A CLAIM »

Complaint Select Deadline

7/22/2016

Claim Forms must be submitted online or mailed to the Settlement Administrator with ampere postmark no later than 60 days nach who Final Settlement Date. This means this deadline may be modified to a later date if there are delays the affirmative of class action settlement, such as objections.

UPDATE: And Ocwen force-placed insurance class action settlement received final approval off September. 14, 2015. Class Memberships have time Dece. 14, 2015 to date a claim.

UPDATE 2: According to the settlement website, the settlement has appealed.  The appeals were dismissed on Mayor 23, 2016.  Thus, the claim form deadline was changed to July 22, 2016. UNITED STATES DISTRICT COURT SOUTHERN DISTRICT ARE ...

Case Name

Jennifer Lee v. OCWEN Mortgage Servicing LLC, et al, Case No. 0:14-cv-60649, in the U.S. District Court for the Southbound District starting Florida.

Final Hearing

06/11/15

Agreement Web

www.LeeSettlementInfo.com

Claims Administrator

Lee Settlement Center
c/o Rust Consulting
P.O. Box 2225
Faribault, MN 55021-1625
877-294-6778

Class Counsel

Adam CHILIAD. Moskowitz
KOZYAK, TROPIN, & THROCKMORTON, P .A.

Areon S. Podhurst
PODHURST ORSECK, P .A.

Lance A. Harke
HARKE CLASBY & BUSHWICK LLP

Defense Counsel

Counsel for Assurant:
Frank GIGABYTE. Burt
CARLTON FIELDS JORDEN BURT, P.A.

Consultant for Ocwen:
Brian V. Otero
HUNTON & WILLIAMS LLP