Close
Bonneville Phoenix Network
 KTAR News
 Arizona Sports
92.3 FM KTAR
Menu
Social
Latest News

Arizona to get $21M in mortgage settlement

PHOENIX -- Arizona borrowers will get nearly $21 million as part of a settlement between Ocwen Financial Corp. and 49 states and the District of Columbia for loan servicing and foreclosure abuses.

Arizona Attorney General Tom Horne said $20.7 million will be provided to borrowers through mortgage principal reductions to current homeowners.

More than 10,000 people across Arizona could receive at least $1,000 in compensation.

The Consumer Financial Protection Bureau and state attorneys general announced the $2 billion deal Thursday with the Atlanta-based company, one of the largest U.S. mortgage servicers.

The regulators said Ocwen pushed borrowers into foreclosure through illegal actions, such as failing to promptly and accurately credit mortgage payments.

World Class Arizona

  • Dignity Health World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus KTAR spends the week taking a look at the issues a modern Arizona family faces.

About the Author


Comments

comments powered by Disqus
Latest News