Ocwen Loan Settlement – You may be entitled to receive a payment

As part of a $225 million settlement the Department of Business Oversight (DBO) reached with Ocwen Loan Servicing, LLC, in 2017, the DBO received $20 million to distribute to California borrowers who had mortgages serviced by Ocwen during a specific time period. The DBO has mailed thousands of checks to borrowers who met the eligibility criteria, however, more than $3.2 million remains unclaimed by 5,250 eligible consumers.

If you wish to speak with someone about your eligibility criteria, check status, or claim validity, please contact us at (866) 275-2677 or Ask.DBO@dbo.ca.gov

After another attempt to reach those entitled to the unclaimed funds, the remaining money will be turned over to the California State Controller’s Office (SCO). Consumers wishing to claim their appropriated settlement will then need to submit a claim through the SCO’s Unclaimed Property process.

Announcements:

March 23, 2020 – [tenative] The DBO has mailed out a second round of letters for unclaimed settlements.

July 26, 2018 – The DBO reached an agreement with Ocwen Loan Servicing, LLC, regarding its mortgage servicing practices. If you are an affected borrower, you do not need to file a claim to receive a payment. All payments have been mailed. The payment checks from the DBO list a Utah address.

March 30, 2018 – Postcards were mailed to eligible borrowers, identifying eligibility as a borrower under the settlement.

Last updated: Mar 19, 2020 @ 3:47 pm

Approved by Jim Sweeney 1/2020