Mortgage Borrowers Seek Approval Of $2.8M Convenience Fee Settlement

Mealey's (October 20, 2022, 11:13 AM EDT) -- FORT LAUDERDALE, Fla. — A judge should preliminarily approve a nearly $2.8 million revised class action settlement between borrowers and mortgage loan servicers PHH Mortgage Corp. and Ocwen Loan Servicing LLC over the loan servicers’ alleged charging of illegal “processing fees” to the borrowers for paying their mortgage loans over the telephone or online because the revised settlement avoids “features of the previously proposed settlement that gave the Court pause” and meets all statutory requirements for approval, lead plaintiffs argue in a motion filed in Florida federal court....