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Maryland to receive $88 million of $2.1 billion national settlement
Maryland to receive $88 million of $2.1 billion national settlement

Maryland expects to receive about $88 million of a $2.1 billion national settlement reached with Ocwen Financial Corp. over "systematic misconduct" in the mortgage servicer's handling of loans. Announced Thursday, the deal settles a federal complaint brought by the Consumer Financial Protection Bureau and officials from Washington, D.C., and every state except Oklahoma. It alleged Ocwen, the largest non-bank servicer of home mortgages, committed a range of unlawful acts, including improperly rejecting loan modifications, charging customers inappropriate fees and failing to maintain accurate account statements. The agreement brings a non-bank servicer under federal...

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