Borrowers, Lenders Agree To Settle Convenience Fee Class Action Dispute

Mealey's ( May 22, 2023, 1:47 PM EDT) -- FORT LAUDERDALE, Fla. — Parties involved in a class action 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 on May 19 filed a joint notice of a proposed final approval order in a Florida federal court, agreeing to settle the case for nearly $2.8 million....