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Ocwen Forced Placed Lender Insurance Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

This class action alleges that Ocwen Loan Servicing required home-loan borrowers to pay for lender-placed insurance (LPI) policies from Assurant companies in such a way that Ocwen received a “kickback” commission or other payment. It also claims that the rates and amount of coverage were excessive. The Assurant companies included in the class action are the following:

  • Assurant
  • American Security Insurance Company
  • Voyager Indemnity Insurance Company
  • Standard Guaranty Insurance Company
  • American Bankers Insurance Company of Florida
Docket Number:

0:14-cv-60649-JAL

Company: Ocwen

Filing Deadline: December 14, 2015

Class Period: January 1, 2008 to January 23, 2015

Objection Deadline: May 12, 2015

Exclusion Deadline: May 12, 2015

Final Approval Hearing: January 23, 2015

Proof of Purchase:

Claim form and affirmations; for those who paid premiums, verification of identity

Eligibility:

You may be eligible if you were an Ocwen borrower within the US between January 1, 2008 and January 23, 2015 who was charged by Ocwen for a hazard, flood, flood-gap, or wind-only LPI policy on a residential property. 

Typical Settlement Amount:

12.5% of the Net Premium charged to the claimant during the Class Period for the LPI

Total Settlement Amount: NA

Class Representative Proposed Incentive Fee:

$5,000

Law Firms:
Harke Clasby & Bushman
Kozyak Tropin & Throckmorton
Podhurst Orseck

Claim Form: Lee/Ocwen Settlement Claim Form

Case Name: Lee v. Ocwen Loan Servicing, LLC,

Settlement Website: www.LeeSettlementInfo.com

Claims Administrator:
Rust Consulting, Inc.

Claims Administrator Contact Information:

Lee Settlement Center

c/o Rust Consulting, Inc.

P.O. Box 2225

Faribault, MN 55021-1625

Tags: Forced Placed Insurance, Your Home