Ocwen Refunded Money to Maine Borrowers Who were Illegally Foreclosed

see https://www.housingwire.com/articles/49795-ocwen-agrees-to-refund-maine-residents-to-end-foreclosure-dispute-with-the-state/

Important quotes from article:

According to the Maine Bureau of Consumer Credit Protection, Ocwen Loan Servicing instigated foreclosures on loans based on paperwork that was determined to be legally inaccurate.

According to the consent agreement, the Power of Attorney over the loans that were in the Aegis portfolio ceased to exist when the entity was dissolved in November 2012.

But in 2014, Ocwen filed foreclosure notices against a number of Maine borrowers on behalf of Aegis Lending and Aegis Funding as its “Attorney in Fact,” when in reality Aegis Mortgage and all of its subsidiaries were already defunct, which also meant that any of its claims also ceased to exist.

According to the consent agreement, Ocwen “had no authority to execute documents as an ‘Attorney in Fact’ for legal entitles which have had no corporate existence since March 13, 2012.”

Furthermore, even after state regulators brought the error to Ocwen’s attention in 2019 and its lawyers assured regulators the practice would stop, the illegal filings continued into January of 2019, an error the company defined as “inadvertent,” according to a release issued by the state of Maine.

Editor’s Note: So far as I have been able to determine, there is not a single instance in which Ocwen claimed the position of “attorney in fact” where that assertion was true. This is not a one-off case. This is the tip of the iceberg.

I have one case in litigation in which Ocwen relied for nearly 10 years on a fabricated power of attorney from Chase Bank. How do I know it was fabricated? Chase Bank had nothing to do with the loan. That was proven at trial. Thus Chase Bank could not possibly have authorized the Power of Attorney submitted in court. Yes we won that one too.

Just about everyone who is involved on a daily basis with foreclosures in which Ocwen is involved, knows that the documents were fabricated, forged, backdated and falsely presented as evidence.

Posted in Uncategorized |