Ocwen Financial Corporation of Atlanta, Georgia, and its subsidiary, Ocwen Loan Servicing, have agreed to a $2.1 billion joint, state-federal settlement with Attorney General J.B. Van Hollen, 48 additional states and the District of Columbia, and the Consumer Financial Protection Bureau (CFPB). Wisconsin consumers are projected to receive more than $13 million in reductions on mortgage principal and direct cash payments from Ocwen.
Attorney General J.B. Van Hollen announced today that more than $21.85 million dollars will be distributed to 14,723 Wisconsin residents who lost their homes to foreclosure. Payments are expected to be at least $1,480 for each foreclosed home. These payments are one aspect of relief under the National Mortgage Settlement, and will be mailed to eligible borrowers from June 10-17.
Attorney General J.B. Van Hollen Announces National Mortgage Settlement Relief Exceeds $23 Million for...
Attorney General J.B. Van Hollen announced today that Wisconsin borrowers received $23.5 million in mortgage loan-related relief in the first quarter of 2013 under the National Mortgage Settlement. Adding to previously announced totals, 3,516 Wisconsin borrowers have now claimed $167,183,021 in loan-related relief. In addition, 106 Wisconsin borrowers are in trial mortgage modifications, which will add $8 million to the State’s relief in coming months – raising the projected total to more than $175 million statewide so far.
MADISON - January 31, 2013 - (RealEstateRama) -- Attorney General J.B. Van Hollen announced today that he and other Attorneys General and the District of Columbia have reached a $120 million multi-state settlement with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DOCX. The proposed consent judgment resolves allegations that the Jacksonville-based company, which primarily provides technological support to banks and mortgage loan servicers, “robo-signed” documents and engaged in other improper conduct related to mortgage loan default servicing.
MADISON - November 20, 2012 - (RealEstateRama) -- Attorney General J.B. Van Hollen announced that Wisconsin residents have begun taking advantage of relief offered under the National Mortgage Settlement, according to a report released by the Settlement Monitor today. The five settling banks reported that, through the end of September, 2012, 1,873 Wisconsin borrowers have benefited from some type of consumer relief totaling $86,204,414 – an average of $46,025 per borrower. Additionally, over 500 Wisconsin borrowers have been approved for trial modifications which is expected to provide over $32 million in additional relief over the next months, an average of $64,869 per borrower.
MADISON, WI - October 31, 2012 - (RealEstateRama) -- John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that P. Edwin Gray, 59, Oregon, Wisconsin, was sentenced yesterday by U.S. District Judge Barbara B. Crabb to three years’ probation and ordered to pay $336,100 in restitution for his role in a mortgage fraud scheme
Wisconsin Man Charged with Racketeering, Embezzlement, Fraud and Tax Crimes in Million-Dollar Mortgage Fraud...
MADISON - July 10, 2012 - (RealEstateRama) -- Attorney General J.B. Van Hollen and Marathon County District Attorney Kenneth J. Heimerman announced the filing of a complaint today, charging Jay Fischer with racketeering, embezzlement, fraud, and tax crimes. The complaint filed in Marathon County included twenty-one felony and four misdemeanor counts.
Irvine, CA - August 2, 2011 - (RealEstateRama) -- Faris Lee Investments, the nation’s largest retail investment advisory firm, has completed the $6.6 million sale of a NNN leased, single-tenant, 30,000 square foot property occupied by Best Buy located at 7021 120th Ave. in Kenosha, WI. Built in 2008 as a new smaller, prototype store for Best Buy, the property is situated on 3.88 acre and is located at two major thoroughfares at I-94 and Highway 50. The property is part of a regional shopping center surrounded by retail, dining and hotels.
MADISON, WI - March 30, 2011 - (RealEstateRama) -- Attorney General J.B. Van Hollen today filed a lawsuit against First American Funding Company, LLC of N4365 State Highway 73, Columbus, WI for violations of the state's No-Call and Direct Marketing laws. Michael S. Eisenga is listed in the complaint as the mortgage company's owner and operator
MADISON, WI - November 24, 2010 - (RealEstateRama) -- John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Amy B. Strait was sentenced today by U.S. District Judge William M. Conley to three months in federal prison in a prosecution stemming from a federal investigation of bank fraud and tax fraud. The prison sentence will be followed by a two-year term of supervised release