Litton Loan Servicing and Ocwen Force-Placed Insurance Litigation
Berger Montague served as class counsel in a lawsuit against Litton Loan Servicing and related entities and insurers in the United States District Court for the Southern District of New York alleging that Litton Loan Servicing LP, Ocwen Financial Corporation and others schemed to require their mortgage borrowers to buy force-placed (also known as lender-placed) insurance while taking kickbacks from the insurers. The Litton defendants reached a nationwide class action settlement that created a $4.1 million common fund for the benefit of the borrower class.
In August 15, 2016, the Court granted final approval to that settlement.
In a related matter in the United States District Court for the Southern District of Florida, Berger Montague worked with class counsel in that matter to settle the Ocwen claims from the New York case as part of a nationwide class action settlement which made $140 million available to affected borrowers.
Berger Montague’s Predatory Lending and Borrowers’ Rights group vigorously represents homeowners against major banks. To find out about investigations, as well as pending and settled cases, please visit our Predatory Lending and Borrowers’ Rights page.