New York homeowners would share more than $2.9 million of a nationwide settlement with Atlanta-based mortgage giant Ocwen Financial Corp. under a deal worked out by 49 attorneys general and the Consumer Financial Protection Bureau (CFPB), according to Attorney General Eric Schneiderman.
The agreement would provide $2 billion in loan modification relief to Ocwen customers and another $127 million in refunds to alleged victims of the company’s foreclosure practices. Every state but Oklahoma was involved in crafting the settlement, which is subject to approval by a judge in the U.S. District Court for the District of Columbia.
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