Ocwen Financial Corp Forced-Place Insurance Class Action

We are pursuing a class action against Ocwen Financial Corp. for its improper force placed insurance practices (sometimes called “lender placed insurance”). Recently the federal judge overseeing the case upheld many of the claims in the case and allowed it to proceed. When a borrower’s homeowner’s, hazard, flood or wind insurance policy lapses, the bank or servicer may “force place” insurance on the borrower.  However, many banks and servicers have turned this into a profit center by placing that insurance through their own affiliates at premiums rates that are significantly higher than market rates.  By doing this, the banks and servicers are able to profit because the higher premiums flow to the banks and servicers through the insurance agents that are affiliated with the banks and servicers.

If you are an Ocwen Financial Corp customer and believe you have been harmed through the bank’s forced place insurance practices, fill out this form, and someone from our firm will contact you shortly.

    Any information that you submit will be maintained as confidential. If Squitieri & Fearon, LLP, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Squitieri & Fearon, LLP will contact you to discuss the matter and whether to establish an attorney client relationship.