In December 2014, Ocwen Financial Corporation and Ocwen Loan Servicing, LLC (“Ocwen”), a New York State-licensed mortgage banker and mortgage loan servicer, entered into a Consent Order with the New York Department of Financial Services (“NYDFS”), the state agency responsible for supervising and regulating Ocwen. Under the Consent Order, Ocwen is required to make a payment to the borrowers on any home mortgage loans in New York for which it filed a foreclosure action or completed a foreclosure sale during the period January 1, 2009 through December 22, 2014.

Under the Consent Order, two types of payments are available to current and former Ocwen-serviced borrowers in New York:

  1. $10,000 for each home foreclosed upon by Ocwen between January 1, 2009 and December 22, 2014, as set forth in Paragraph 24(b)(i) of the Consent Order; and
  2. The balance of a $50 million fund distributed equally for each foreclosure action filed by Ocwen between January 1, 2009 and December 22, 2014 in which Ocwen did not complete such foreclosure, as set forth in Paragraph 24(b)(ii) of the Consent Order.

The first checks are scheduled to be mailed in January of 2016. Additional check mailings will occur in the months to follow.

If you believe you may be eligible for payment, please call 1-877-541-3110 (Monday–Friday 9:00 a.m.–9:00 p.m. Eastern Time and Saturday 8:00 a.m.–4:00 p.m. Eastern Time) or send an email to info@OcwenNYDFSPayments.com.

For additional information, please click on any of the links at the top of this page.

Questions? Call 1-877-541-3110 or email info@OcwenNYDFSPayments.com