Part of settlement terms Attorney General Biden secured calls for Delawareans who had mortgages serviced by Ocwen and lost home to foreclosure to receive payment

WILMINGTON – First State consumers who are eligible for a direct payment as part of the $7 million settlement Attorney General Beau Biden reached with Ocwen Financial should soon be receiving their checks, Biden announced Monday.

More than 200 Delawareans will receive checks of approximately $1,200 under the settlement, which Biden, 48 other attorneys general and the federal government reached with Ocwen in December 2013 to resolve allegations that the financial institution’s misconduct contributed to the housing crisis. The settlement holds Ocwen accountable for past mortgage servicing and foreclosure abuses, provides relief to homeowners, and stops future fraud and abuse.

The payments are going to Delawareans who had mortgages serviced through Ocwen or one of two subsidiaries and lost their homes to foreclosure between January 2009 and December 2013. The checks should all be in the mail by Tuesday. In addition to these direct payments, Ocwen was also required to provide financial benefits, such as principal reductions, to homeowners who still hold an Ocwen mortgage as well as make significant customer service improvements.

“Our financial system only works when everyone plays by the rules and there must be accountability when the rules are broken,” said Biden, who has secured more than $185 million for Delaware in settlements with banks whose conduct helped cause the housing crisis. “The funds we have secured in these settlements provide financial benefits to consumers as well as resources to strengthen communities harmed during the housing crisis.”

Ocwen specialized in servicing high-risk mortgage loans. Ocwen’s misconduct resulted in premature and unauthorized foreclosures, violations of homeowners’ rights and protections, and the use of false and deceptive documents and affidavits, including robo-signing.

Ocwen customers eligible for the payments should already have been contacted. Consumers can contact Ocwen at 1-800-337-6695 or ConsumerRelief@Ocwen.com.  Borrowers having difficulty contacting Ocwen or who have questions should contact Biden’s office by calling the Attorney General’s Office of Foreclosure Prevention at 1-800-220-5424.

WILMINGTON – Delaware homeowners who are behind on mortgage payments, face foreclosure, or have questions about their mortgage can meet face-to-face with mortgage lenders at free housing workshops next week in Dover and Newark, Attorney General Beau Biden announced today.

Homeowners can attend the events on March 22 to discuss their loans with their banks, connect with a non-profit housing counselor, get information from the Attorney General’s Office and Delaware State Housing Authority about government programs, and learn how to prevent foreclosure-related frauds and scams.

“Attending one of these workshops is the first step a homeowner can take to avoid foreclosure,” Biden said. “These events will help homeowners learn about the resources and programs available to help them keep their homes and receive immediate on-site assistance from a variety of housing professionals that we have brought together.”

At each workshop, mortgage servicers, state employees, and HUD-certified housing counselors will discuss mortgage modifications, government homeowner programs, and foreclosure scams. No reservations are needed. Workshops will take place as follows:

Saturday, March 22, 2014

9 a.m. – 1 p.m.

Delaware Technical and Community College – Terry Campus Training Center, 100 Campus Dr., Dover.

3 p.m. – 7 p.m.

University of Delaware’s John M. Clayton Hall, 100 Hollowell Dr., Newark

Homeowners who wish to meet on-site with their mortgage servicer should bring information about current income and details about their current mortgage, including loan number, monthly payment, interest rate, and loan balance.

Delawareans who have questions about next week’s workshops should call the Delaware Homeowner Relief Hotline at 1-800-220-5424 or Attorney General Biden’s Office of Foreclosure Office at 302-577-8393, e-mail mortgage@delaware.gov, or visithttp://www.delawarehomeownerrelief.com.

Wilmington – Attorney General Beau Biden today announced that free state housing workshops will take place next week to assist homeowners who have fallen behind on their mortgage payments and face foreclosure.  Both workshops – to be held Monday in Wilmington and Tuesday in Dover – bring together mortgage servicers, state employees, and HUD-certified housing counselors who will discuss mortgage modifications, government homeowner programs, and foreclosure scams with homeowners.

“I urge Delawareans who are facing the loss of their home to foreclosure and who have had difficulty discussing their mortgage with their bank to attend our free workshops, where homeowners can meet face-to-face with their lenders and receive in-person assistance from housing counselors, staff from my office, and other housing professionals,” Biden said.

No reservations are needed to attend the workshops, which will take place as follows:

Monday, November 18, 2013

3 – 7 pm

Chase Center on the Riverfront

815 Justison Street, Wilmington

Tuesday, November 19, 2013

1 – 7 pm

Modern Maturity Center

1121 Forrest Avenue, Dover

Homeowners who wish to meet on-site with their mortgage servicer should bring information about current income and details about their current mortgage, including loan number, monthly payment, interest rate, and loan balance.

The workshops are made possible through “Delaware Homeowner Relief”, a partnership between the Attorney General’s office and the Delaware State Housing Authority which supports housing counseling, education and outreach, foreclosure mediation, mortgage fraud investigation and prosecution, emergency mortgage assistance, manufactured housing lot rent assistance, and servicer events, where homeowners can meet personally with representatives from mortgage lenders to work toward a resolution to their mortgage crisis.  The programs it supports are funded in part with a portion of funds Delaware received through the 2012 Multistate Mortgage Foreclosure Settlement between the federal government and five of the nation’s largest mortgage-servicing banks.

For more information about next week’s workshops, to learn more about state foreclosure prevention programs, or if you believe you have been the victim of a mortgage fraud or scam, call the Delaware Homeowner Relief Hotline toll-free at (800) 220-5424 or visit www.DelawareHomeownerRelief.com.

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