CFPB Gets Consumer Claims Against Ocwen Revived (Correct)

The Consumer Financial Protection Bureau saw consumer protection claims against Ocwen Financial Corp. reinstated Wednesday, when the Eleventh Circuit said a lower court too broadly interpreted a prior settlement over Ocwen’s mortgage practices.

The CFPB can sue Ocwen for alleged violations that occurred between January 2014 and through February 2017 if they aren’t covered by the prior consent judgment’s servicing standard, monitoring, and enforcement regime, the U.S. Court of Appeals for the Eleventh Circuit held.

In 2013, the bureau sued Ocwen over its mortgage servicing practices. That suit was resolved with a settlement agreement and memorialized in a formal consent ...