News & Analysis as of

Ocwen

Cadwalader, Wickersham & Taft LLP

Wire You Foreclosing?

Does a lender have the right to foreclose its mortgage if a payoff of such mortgage is made by wire transfer, but the payment does not make it to the lender’s account? A recent case, heard on appeal by the New York Supreme...more

Cadwalader, Wickersham & Taft LLP

State Attorney General Insider – Winter 2020-2021 | December 2020 | Issue No. 3: Notable Cases

Notable Cases - Here are a few of the major cases of interest within the state Attorneys General community that are receiving significant press coverage. ...more

Cadwalader, Wickersham & Taft LLP

State Attorney General Insider – Winter 2020-2021, Issue No. 3: Notable Cases

Notable Cases - Here are a few of the major cases of interest within the state Attorneys General community that are receiving significant press coverage. ...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending May 1, 2020

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Real Property Update - Foreclosure / Note: Trial court could not challenge authenticity of note as copy where borrower had not pleaded defenses and lender was not afforded advanced notice of dispositive issue to be tried -...more

Mayer Brown

Seventh Circuit Agrees With Mayer Brown Amicus Brief That $3 Million Punitive Damages Award Was Unconstitutionally Excessive

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Last summer, my colleague C.J. Summers and I posted a report about Saccameno v. U.S. Bank National Association, a Seventh Circuit case in which we had filed an amicus brief on behalf of the Chamber of Commerce of the United...more

Cadwalader, Wickersham & Taft LLP

2019 Year in Review: Securitization Litigation and Regulation

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect.  A...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

Carlton Fields on

Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Robins Kaplan LLP

Financial Daily Dose 11.14.2019 | Top Story: Fed Chair Talks Economy and Rates During Congressional Testimony

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Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending September 27, 2019

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Real Property Update - Construction Lien: a delinquency charge of 1.5 percent found in materialman's contract with general contractor is not a finance charge recoverable under the materialman lien statute, Florida Statutes...more

Robins Kaplan LLP

Financial Daily Dose 10.7.2019 | Top Story: Talks Between GM and UAW Falter as Strike Hits Fourth Week

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Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the two sides “appeared to make in recent days,” a troubling sign as the strike heads into its 4th week....more

Burr & Forman

Middle District of Florida Holds Aspect Dialer is Not an ATDS under the TCPA

Burr & Forman on

In addressing cross motions for summary judgment in BONNIE BROWN & JAMES BROWN, Plaintiffs, v. OCWEN LOAN SERVICING LLC, Defendant., 8:18-CV-136-T-60AEP, 2019 WL 4221718 (M.D. Fla. Sept. 5, 2019) (“Browns v. Ocwen”) on...more

Carlton Fields

Financial Services Update: Week Ending September 6, 2019

Carlton Fields on

Financial Services Update - TCPA / ATDS: lender's dialer equipment not an ATDS because it is not capable of generating and dialing random or sequential numbers - Brown v. Ocwen Loan Serv. LLC, No. 8:18-cv-136-T-60AEP (M.D....more

Maynard Nexsen

The CFPB’s Enforcement Case against Ocwen Financial Corporation – 18 Month Checkup

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In the spring of last year, the Consumer Financial Protection Bureau (“CFPB”) filed an enforcement action against Ocwen Financial Corporation (“Ocwen”) and its subsidiaries for violation of mortgage servicing rules. The suit...more

Womble Bond Dickinson

Unprecedented Settlement Rejection: Court Refuses to Approve $17.5MM TCPA Settlement on Current Record–Says “Good Chance” that...

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Oh dear. Oh dear me. The Hon. Matthew Kennelly has already made quite the mark on TCPAland. He handed down the big Arranda  ruling that turned Spokeo-based TCPA arguments into minced meat. And he recently prevailed over the...more

A&O Shearman

Southern District Of Florida Dismisses Putative Securities Class Action, Finding Vague And Generalized Statements Regarding...

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On Monday, April 30, 2018, Judge Robin L. Rosenberg of the United States District Court for the Southern District of Florida dismissed a consolidated putative securities class action against financial services company Ocwen...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As has been buzzed about for several months, music-streaming startup Spotify has officially filed [directly] a prospectus for its listing on the New York Stock Exchange....more

Goodwin

Southern District of California Dismisses TCPA Claims on Standing Grounds

Goodwin on

On November 16, 2017, the Southern District of California dismissed TCPA claims on standing grounds, finding that the plaintiff had not alleged a concrete injury. In Selby v. Ocwen Loan Servicing, no. 3:17-cv-00973 (S.D....more

Maynard Nexsen

Update on The CFPB’s Enforcement Case against Ocwen Financial Corporation

Maynard Nexsen on

Ocwen Financial Corporation (Ocwen) is one of the country’s largest nonbank mortgage loan servicers, and it has had its hands full the last six months. On April 20, the Consumer Financial Protection Bureau (CFPB) filed an...more

Dorsey & Whitney LLP

Ocwen Predictably Reaches High-Dollar TCPA Settlement Following Class-wide Preliminary Injunction

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By the time the gavel struck back on June 26, 2017, another high-dollar TCPA settlement was inevitable. On that date, Judge Matthew F. Kennelly of the Northern District of Illinois entered an order preliminarily certifying a...more

Mintz - Securities Litigation Viewpoints

Phantom Recusal Policy Leads to Partial Summary Judgment for Plaintiffs in the Ocwen Securities Litigation

In a June 13, 2017, ruling on a motion for partial summary judgment in the Ocwen Financial Corp. Securities Litigation (the “Ocwen Litigation”), the United States District Court for the Southern District of Florida determined...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Goldman Sachs’ recent purchase of $2.8 billion in Venezuelan bonds has been kicking around the headlines for a few days now. Here’s what’s at stake for the country and the bank....more

A&O Shearman

Virgin Islands District Court Dismisses Securities Fraud Claims For Failure To Allege Falsity And Loss Causation

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On April 6, 2017, Judge Harvey Bartle III, sitting by designation in the United States District Court for the District of the Virgin Islands, dismissed a putative class action against Altisource Asset Management Corporation...more

Goodwin

Ninth Circuit Affirms Dismissal of Default Servicing Class Action

Goodwin on

Last month, the Ninth Circuit affirmed dismissal of a putative class action that challenged certain fees imposed for property inspections conducted after the named plaintiffs had defaulted on their mortgages. Demonstrating...more

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