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Transcript of Ocwen Loan Servicing LLC, Massachusetts, Assurance
7/23/2019 Ocwen Loan Servicing LLC, Massachusetts, Assurance
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CIVIL ACTION COVER
SHEET
TRIAL C
OURT or MASSAC
I
IUSCTIS
SUPEHIOR COURT
DEPARTMENT
COUNTY: SUflfOLl{
Oc,ven Loan Servicing, LLC
PL.AiNTIFF{S)
Commonwealth ofMassaclrnsetts
DEIFENOANT(S)
ATTORNEY, FIRM NAMt, ADDRESS AND TELEPHONE
Olenn Kaplan, AAG, Office of he Attorney General
1 Ashburton Place, l 8U1 Floor,
Boston lVIA 021 OS
617-963-2453
BBO# 567308
Pl?.cc
ao
x iu one bo. only:
[ X
I
J.
FOL
Origin11l
Complaint
f
I 2.
F02 Removal
fo
Sup.Ct.
C..231.s.104
I 4. F04 DisMct Court Appeal c.231, s. 97 &104 (After trial ) (X)
I
5. F05 Reactiv:i(ed aftet· rescri.pt;relief from
judgment/
Order (Mnss.R.Civ.P.
60) · (X)
un~~
M
J 3. FOJ
Rotransti 1·
to Sup.Ct.
C.231
. .<;. l02C. (X)
L ] G Eto
Sumnrnry Process Appeal (X)
l '
l>E
OF
ACi'[QN
ANll TRACK UESlGNA'flON (See ,·everse side)
CODE NO, TYPE OF ACTION (specify) Tlv\CK
IS THIS
4
JURY CASE?
E99 Misc Other (specify) X track
A.,surance
ofDiscontinmmce,
pursuant
to
G.L. c, 93A
§5
Yes/No
No
The
following
is a full, itemized
and
detailed
statement of
the facts
on
·which
plaintiff
relies to
determine
mon~y
damages. For
this
form, disregard double
or
treble damage
claims; i ldicate
single datmig€s only.
A.
B
C.
D.
E.
F .
(Attach
ndditiom1I
Documented medical
expenses to dutc:
1. Total hospital e:;;L)eo cs
2. Tofal
Dottor
expenses
3. Total chiropractic expenses
4-. Total physical therapy expenses
5
Total
other
expenses {describe)
TORT CLAIM£
hcets as nccessut-y)
Documented lost walf~S and compeo ·ation
to
date
Oocumentctl property damage to dntc
Reasoa~biy ant.iclpalc.d future medical
and
hospital expenses
R~ason~1bly anticipated Jost wages
Other documented items
of
damnges (describe)
Subtotal
$
s ·
- - ·- ---- ----
$,
s·
---
----
$
.--- -
$
.-~-~~-~
G.
Brief
description
of
plaintiffs
injury,
in
duding nature and
extent
of
in.Jury (describe)
$
_____
_ _
Totai S
L\
CONTRACT CLAIMS
(Attach
additional
sheets as necessal-y)
Provide a deta,iled
description
of claun(s):
TOTAL
NIA
·$ ..............
PLEASE IDENTIFY,BY ASE NUMBER, N, ME A,;,'\/J) COUJlt-i'Y, ANY RELATED ACTION
PENLUNG
lNlHE Ul.'ERIOR
COURT
DEPART 'l-fENT
I hereby certify
lhatl
han complird with the requirements of Rule 5 of 1he Supre me Jud icial Com't niform Rule l on Dis1rntcRQsolutiun (SJC
Ru le 1:18) J"cquiriug that I provide my clients with information about court.co
nn
clccl ili
putc
rt$Olution scrvi n ~nd ilisi:us t•,ith thcoi rh
1lll va n W;_ CS and disad,•:mtagcs of the v111i
ou
me1fth."
Sign11luruofAt1orncynfRecord ~-;<.. .:,'
Date:
JI.me
12,2014
A. O.S.C.
3-20
07
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COMMONWEALTH OF l\.1ASSACHUSETTS
SUFfOLK, ss.
SUPERlOR
COURT
DEl?ARTivJENT OF 'fHE 'llUAL
COUR'r
14-1899 e ~
CIVJL ACTION
NO.
In
rn.
Ocwen Loan Servicing LLC
ASSURANCE OFDJ:SCONTINU.AN 'E .JUI-
,
:f
1
f
URSUANT TO G.L.
CIMPTER
93A
r.,:N · 1
1
rr
1L11r' ·· 1.11'-'IL
N
j r.·1.,i-j~.2l
,k
,J:r·I I r.v I
•.,
I·
I INTRODUCTIO -
,1t<: Myir
.1
T1t>
,l'F:_ _
1.
I>urslliil1t
to provisions of
the
Mas::mclm<,;e1.ts
011stu11er ·
1
rotei;tiou Ac' ,
G. L.
c. 9 A, § 6
the Commonweal-th
of Massa.ch.usctts
(the
'CC0mmonwealth")
by and through Attorney General
Maitha Coakley,
conduc1ed a11
invest.igation of tl1e fore
lotmry of Lno1tgages Ot.l Massaclrnsells
properties serviced
by Ocv{en
oan Servicing LLC ("Ocwen") a:nd,
in particular,
of
he
assignments executed
by
Ocwen
with
respect to
such propert
ies
and
of
lh
e
not ices
of
defou
It
provid d byor on bo:lbalf of Ocwcn to Massachusetts homeowners. Additionally, the
Corumonwealll1 co.ntluc ted 1:1n invesiigati u of unlawful foreclosures i·1.itiated or adva.11c~d by
Litton
Loan Servicing Limit
i:.:d
Partnership
("Litton··) where
the
foreclosing
entities we.re not the
transferee:-, asi::ignees, m,dJ t J,oldei:s
ofi
he rn.ortgage at il1e lime
of
the publication of lhe fo st
notice of snle pursuaut to
GL.
c. 244, 14 (hereinafter " be investigations;). At all l'elevaut
fanes,
Ocwen
is
1he
su
.ccesso
-in-inte.rest
to
Litton.
2.
In.
resolntio:u of
U1ese
i.ssue-
s,
and taking
into
tonsidetation
Oowen.'s
acsistan.ce and
cooperation,
I.he
Office
of
the Attorney General (the "AGO") agrees to accept this Assurance of
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I isco11lim.mnce ( A
OD
) on the ienns a
ml
conditions co ntained herein.
Th
e
AG
O ond OcweL1
voluntarily
e
nter int{ thls AOD.
II.
STATEMENT
Oll
LLEG TIONS
3. This
AOD
is
made
without
any
trial or adjudication or finding
of any
issue
of
fact t law,
and
is
i10t
a
final otder of
any court. Ocwen enters into
this AOD
for settle1n~nt purposes
only
and neither
admits nor denies
the AGO's
allegations.
4.
Prior
to foreclosing on Ocwen~serviced tn;ortgages on Massachusetts homes, Ocwen
executes
assignments
of
mortgages
on
bel1alf
of
the
assignors and/or their nomi11ees.
As
a
result
of he investigations, the Attorney General alleges thaJ certain assignments of mortgage exec1,1ted
by Ocwen
and
filed in the Massachusetts Registry of Deeds were not properly executed, fo
violation ofM
. G. L c. 93A, section 2.
5.
Prior
to foreclosing
on
Ocwen-serviced mortgages
on
Massachusetts
homes, Ocwen
provides notice
to
the homeowners
of
default, which includes a stated period during which the
homeowners
are
permitted
to
cure
the
default.
As
a
result
of
th~ investigations,
the
Attorney
Genetal alleges
that
ce1:tafo notices of defau lt 1nailed
by
Oc\ven t reside11ts .of the
Conuuonwealth
of n s.saclrnsetts
di
rl not fo y
comply v;; Jth
appli
cahl e
statutes
rmd tegl1 la
tians
conceming the opportunity provided to the
borrower
to cure the default, in. violation
of
M. G.
L.
c. 93A, section :2
,
6, As a result of he inve Stigations, the ttorney General alleges
that
Littoh initiated or
advanced foreclosures
tesulting
in
completed
foreclosure
sales where
th(}
fdteclosing
-entity
was.
not
the
a<,signee;
transferee, and/or holder of
the mortgage at
the tithe
of
th~ publfoation.of the
first
notice of
sale pursuant to G.L. c. 244, §
4
( Unlawful Foreclosure i).
Tlus co~1d,uctres:ulted
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in void foreclos
ur
es where title to the uufawfu
y foreel.osed
upon
real property v,ras rendered
neither m
ar
ketable, nor insu
rab
le.
Ill. TERMS
OF
THE
AGREEMENT
7.
The AGO agrees that
it will
not
file
this agreement until such time as the
United
States
Distri ct Court for the District ofWashingtOll, D.C. has approved entry
of
a Consent Judgment
resolvi.rtg claims by
the
Cort:unonwealth and munerous other states and federal agencies (the
National Settlement ). For purposes of clarity, the Consent Judgment is anticipated to be filed
on
December 19, 2013. Should
the
Consent Judgn1ent not be filed
by
January 15, 2013, the
AGO
may in
its
discretion rescind this AOD.
8.
At a date
to be
agreed upon
\Vi th the
AGO
but in
no circumstances later
than
five business
days after the filing of this AOD, Ocwen shall pay a total of$3,700,000,
of
which $3,000,000
shall be paid
to
an independent trust ( Fund ) for purposes
of
making payments as set
fo1th
in
this AOD. This payment shall be separate
and
apart from, and not altered by, any amount l)aid
y
Ocwen in
the
National Settlement.
The Fund
shall be overseen
y
an independent trustee
( Tiustee')) to be mutual ly agreed
upon by
the
AGO
and Ocwen (neither party shall
1U1reasonably ,:,,ithhold con.seJ1t
wi1hin three business days
of
the filing
ofthis AOD. f
he
AGO
and Ocwen are unable to agree on
the
identity
of
the Trustee, the AGO shall choose the
Trustee in its sole discretion. The Trustee shall deposit the
Fund
into interest
bearing
accounts;at
the
direction
of
the
AGO
such that all
of
the funds
are
folly guaranteed
y
the Federal Deposit
Insurance Corporation
or the United States Department
of
the
Treasury.
The
Trustee
will
make
investments of
and disbursements from
the
Fund only with the consent
of
the
AGO and
may vary
from the investment criteria of this paragraph only with the consent
of
the AGO. The Trustee
shall
distribute the monies as directed y the
AGO
for co11Sumer relief to homeowners who were
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foreclosed on
y
Ocwen or received notices
of
default
from
Ocwen, and, pursuant
to ]\ LG L
c.
12 §4A, for implementation of this AOD and related purposes at the sole discretion CJf and in a
manner
prescribed by,
the
AGO.
9.
\Vhcn it makes payments to homeowners the Trustee shall include a cover Jetter
accompanying
such payment.
Such
cover letters shall be drafted
by Ocwen
and
provided to the
AGO
.in
advance for the AGO's
approvals.
The final ·wording
of
such
cover
letter shall be
approved y the
AGO before
stich
cover letter is delivered and
the
accompanying
payment
is
made
. 10. Tvm years after the date of this AOD, the Trustee shall cancel any remaining uncashed
or
returned
checks for payments
sent
to homeowners, and
pay
the
sum of
cancelled checks
a.nd
ny
and all
interest generated
on the Fund to
the
AGO. Between
the date
( Receipt
Date )
that the
Trustee
pays
the sum of
the
cancelled checks and interest generated
on
the
Fund
( Residual .
Funds ) to
the
AGO
and
three years
from
ei1lry of the AOD, the
AGO
shall
hold
the Residual
l?W1ds
in
an
interest bearing account.
Between the
Receipt Date and three yeru·s from entry
of the
AOD, at the AGO's
discretion,
the
AGO
shall
release
available funds
to
the appi:opriate
ho1neowners.
If
any
of he
Residual Funds, including any interest generated
on
the Residllal
Pm1ds, paid pursuant to
this
paragraph remain
in
the
AGO's possession
as
of
three years from
entry
of
this A.OD Ocwen agrees
that the
AGO
shall retain said
funds as
a grunt from Ocwen
l lder M.G·.L.
c.12, §
4A to pay any uncornpensuleu
implementation
costs
of
the
AGO under this
AOD and
for investigation and
mediation of related financial
services issues. OC\ven
agre~s that
the AGO may,
in
its
sole
discretion, transfer
any p01tion
of his grant to the general fund of he
Commonwealth.
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11. In com1ection with the Commonwealth's Uhl awful Foreclosure claims; the remaining
700,000 shall
be
paid to the Conuncmwealth
of
Mru;sachusetts, ptu-suant
to M G L c.
12
§
4A,
to be distributed
by
the Attorney General, at her sole discretion for investigation, mediation, arrd
enforcement ofrelated consurner issues or as a grant
to
the general fund
of
the Commonwealth.
IV
COOPERATION
12. Ocwen shall fully cooperate with the AGO in: its implenier1tatio11 of this AOD. Ocwen
agrees to respond to reasonable requests frorn the Attorney General for
fofom1ation
or
documentation related to
the
implementation of this AOD.
V SERVlCER STANDARDS
13.
In
addition to
any standards
established by the National
Settlement,
Ocwen agrees to
comply with the
follo·wing
standards
related to
Massachusetts mortgages serviced
by
Ocwen:
(1) Foreclosure documents Assigrun.ents and
other
documents
filed
in connection
with foreclosure proceedings in Massachusetts wjll be signed by the Ocwen employee
whose name apJ:5ears on the document and; if notarized, will be sl gned in front of he
Notary Public whose name appears on the document, all such signatlu·es
to
be affixed
priol'
to
the initiation of any
foreclosui:e proceeding;
(2) No/ice
ofdefim t.
All notices
of. llcfauH JJI OViclt:.Ll
by
lr 11
behalf of Ocwen
\\rilJ
coru1)ly
wilh
the
P.rovl ions
of
G.
L
c.
244,
secti
35A.
VI
RESOLUTION OF
CLAIMS AS TO
LITTON LOAN
SERVICING Lll\fiTED PART NERSIDP
14
With respect to loans serviced
by Litton
where an Unlawful
Foreclosui>e occun-ed,
to
be
identified by the Attorney General, Ocwen ,vill undertake an-investigation as to the status of
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those loans antl determine whether it curren1ly bns or has ever llacl servicing rights as
tu
those
loans. For l
ofill.S
which Ocwcn cuucntly bas or pi:cviously had
servicing
rights
(U1e ~ldenl.ified
Loans,,), Ocwen will undertake best e(101is 1.o determine whether corrective act i
on
hos been
completed, curing any title defocts ~esu l
ti.ng
frm :n (he Unlawful Forec osur<:.
15. For Identified Loans as
to
which no con·ective ac io11bas been taken, or col1'cctivc aclio.n
lrns not been completed., Ocwen
will
uudertf.lkc bes1 efforts to correct the
Unlawful ForeclosLlre
and eusure 1hal
lht:
chain
of
itle
to.
the affected
real
propeity is
rnarkciaule
aml
irumrable.
Such.
con:cctivc action muy incluJe, t Li::rnul
1:imite<l.
to,
outaining
a release
deed fron1 the
prcvi0\.18
mmtgagor, junior lien
holders or any intc
·csicd
party; ascertaining whether proper title bas
been
or may be conveyed
by
completi(m
of
a f01:eclosure by entry; completing a reforeclosuro Ott the
ptoperty; facilitating authoriz..1.tion from the cuneni no te bolder to allow the assignee of the
erroneously forcelosed mortgage the abHity to reforeclose on the mortgage.
l 6. For Identified Loans where in1'urnnc
e
coverogo
exists to c
Tect the
Un I awfu.1
Foreclosure, Ocweu may call upon lbe iJ1surer to assist in any correcti
ve
action.
17.
Jn
the
eveutfuat MassacJrnsetts
enacts legislation
th ::it
provide.,; a statutory means
for
foreclosi:ug parties to cure
pr
iol invafol or uuJawfol
.COrec1osu
res, Lhen Otwen sh.all
be
pemultcd
to
use the
cuTc
mechanism provided by the statu
te.
18. Ocwen will jmmediately undertake c01T0ctivc action and use it-: bestef
fo1 t'3
to complete
the corrective action in a timely mrumer. 00wen agrees
to
prov ide qµarterly J'epo.rts to
1he
Attorney Oeneral 011 tbc·status
of
the corrective action with respect to lhe Identified l~oans.
V
. RELEASE AND MISCELLANEOUS PROVISIONS
19
. 111e A
GO
will no
l
proceed \viih
oi: institute
a
civil
action or proceeding. based upon
M.G.L,
c. 93A or any other statute or reg
ulatio
. , or common law, against Ocwen,
its
patent
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corporations,
affiliates,
subsidiaries and
subdivi.~ions, officers, employees
or
shareholders,
as
well as any of its successors, assigns, and/or pmchasers
of
all
or
substantially all of its assets, for
Ocwen s
conduct p1ior to the
entTy of
this
AOD
rela
.ted to the execution or
recordation of
assignment of
mortgage
or tl1e
sending
or
failure
to
send
of ally
required notices 1 )ertaining
to
foreclosure. Provided, however, that nonvithstanding the terms of his release
and of
any other
provision
of this A.OD this re~ease shall not apply to, or preclude any action brought by the
Attorn.ey General
to
enforce Oc,ven s obligations contained in
thisJ\OD
and shall
not
apply to;
Obligations
of
Homeward Residential Holdings, Inc. pursuant to the Settlement
Agreement entered
into
between American
Home
Mortgage Servicing,
Inc.
< 1nd the
Comn:i.onwealth
ofMassachnsetts w.ith an
effective date
ofNovernber
G
2011.
Further,
in the event ilmt
Ocwen
voluntarily transfers the servicing
of the
Identified Loans, the
obligations set
forth
in
Section
VI
of
this AOD
shall be assumed
by any
tnmsfercc or
successor-
in-interest.
n
the event of an irivoluntary transfer of servicing, Ocwcn agrees to use its
best
efforts
i)
to
complete
conective
action to cure
any
title defects resulting from
the
Unlawful
Foreclosure
prior
to
the
transfer of
servidng
or (ii) to request the transfer
of
servicing for
the
Identified Loan
be delayed so as to
allow
Ocwen to complete
the
corrective action described
in
Section VI.
20. All of the documents produced
by Ocwen in
response to
the
i nvestigation ancl/or
at
the
request of the AUorney
General
or the
Attorney
Gc11craFs
staff
are exempt from
disdosu:te
pursuant
to G.
L.
c. 93A, section 6 (6).
f
he Attorney General is required
by
any
court
order or
government
agency to produce
any such
document >, the Attorney General shall
promptly
notify-
Ocwen
of the
ordered
disclosure at
least
thirty 3 0) days prior to th0 disclosure,
or
if he
order
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L:equires
disclosure in less thnn 30 days, ns soon as
1)racticahlc
prior to ihc ordered
di..sclosure,
so
bat
Ocweumake
::;eek jw.Iicial intcrvcnli0n.
21. The AOD ( .Ons1itu(cs the entire agreement between the AGO and Ocwen and sup~rsedes
any prio1 communicalion, 1.mdetstru1ding., or agreements, whether writ1en or oral, co.nceming tb~
subject mailer
of
the AOD. Thi~: AOD can be modified or
:i1. ippleu1entcLI
only by a
written
docwnent sig:ne-ll by ,ill
parties,
exc;ept.
thattime dendlines in
paragraph 8of
this
A.OD ma)r
be
extended or
modified,
as
<let<:.mnined y lhc
AGO in
i1 s soJe
discretion.
Amendments
or
sup_p
emruHs rn~y
be ex.ecute<l
in
sepfttalc
cmmterpn.rrs,
witb sig11atmcs con.v~yed
y
mail m· hy
fausimile, electronic mail, or oilier clectronia. means.
22. ·nus OD may be signed inmnJUpJe
cotmterpmts,
ea(;b
or
which
wi
ll be con side.red an
orlgina.1 and
al]
of which, when
considered
together, will
constitn
l:e
a whol
e. This AOD will 1;,c
effective upon
ex_ecut
iop by aJl parties bere;to
.
23: Ocwen
and 1he AGO
represent
ru1d
watra.nt
thnt
th
ey hnvcihe full
legal power,
ca~acity,
and authority to bin.d the
parties
fol.
whicb,
they are
executing lhis AOD.
24. This AOD and itsprovisions will be effective on the date that
it
is filed
in
the Superior
Comi for
811ffoJk
County.
25. Dy i:;igning
bclow,
OC wen ;;tgrees
lo
comply with
all
of
the
terms
of
this
AOD
.
Any
violation
of
this AOD may be pursued h a civil aotiou or proceeding under G.L. c. 93A. hcreaUer
commenee-ll by lh~
AGO.
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Office
of
the
A~orney
General for
M assachusctts
./ /
By: _ d:.. .__ Pr
Glenn
Iup
lau (BAO 567308)
AsslsiantAllo iney
Gerieral
One As
11bu
rt0n Place
Boston, MA 021
OS
617
-
727-22.
00
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Name: Timatl,yM. Hayes
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2002 S wn.mit Bl rd F l 6
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