CFPB Faces Decision On Continuing Ocwen Mortgage Servicing Suit

The Consumer Financial Protection Bureau will have until later this month to determine whether to continue its mortgage servicing lawsuit against Ocwen Financial Corp. after a federal judge in Florida ruled that the bureau had filed a too-broad “shotgun complaint.”

U.S. District Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida gave the CFPB until Sept. 27 to refile a more focused complaint against Ocwen, one of the country’s largest mortgage servicers. The bureau alleged in an April 2017 lawsuit that Ocwen failed to send accurate, timely monthly statements and credit some borrowers’ payments, ...