Ocwen Refunded Money to Maine Borrowers Who were Illegally Foreclosed

see https://www.housingwire.com/articles/49795-ocwen-agrees-to-refund-maine-residents-to-end-foreclosure-dispute-with-the-state/

Important quotes from article:

According to the Maine Bureau of Consumer Credit ProtectionOcwen Loan Servicing instigated foreclosures on loans based on paperwork that was determined to be legally inaccurate.

According to the consent agreement, the Power of Attorney over the loans that were in the Aegis portfolio ceased to exist when the entity was dissolved in November 2012.

But in 2014, Ocwen filed foreclosure notices against a number of Maine borrowers on behalf of Aegis Lending and Aegis Funding as its “Attorney in Fact,” when in reality Aegis Mortgage and all of its subsidiaries were already defunct, which also meant that any of its claims also ceased to exist.

According to the consent agreement, Ocwen “had no authority to execute documents as an ‘Attorney in Fact’ for legal entitles which have had no corporate existence since March 13, 2012.”

Furthermore, even after state regulators brought the error to Ocwen’s attention in 2019 and its lawyers assured regulators the practice would stop, the illegal filings continued into January of 2019, an error the company defined as “inadvertent,” according to a release issued by the state of Maine.

Editor’s Note: So far as I have been able to determine, there is not a single instance in which Ocwen claimed the position of “attorney in fact” where that assertion was true. This is not a one-off case. This is the tip of the iceberg.

I have one case in litigation in which Ocwen relied for nearly 10 years on a fabricated power of attorney from Chase Bank. How do I know it was fabricated? Chase Bank had nothing to do with the loan. That was proven at trial. Thus Chase Bank could not possibly have authorized the Power of Attorney submitted in court. Yes we won that one too.

Just about everyone who is involved on a daily basis with foreclosures in which Ocwen is involved, knows that the documents were fabricated, forged, backdated and falsely presented as evidence.

10 Responses

  1. […] via Ocwen Refunded Money to Maine Borrowers Who were Illegally Foreclosed — Livinglies’s Weblog […]

  2. Neil is 100 percent correct i have been fighting ocwen for 5 plus years because of fabricated documents in Texas. What people need to watch for is the switch of servicer from ocwen to PHH mortgage or a new one i just received “New Rez LLC” and just remember those fake documents havent changed. They are just trying to hide behind a different name.

  3. And I repeat — Maine is one good state. Case law out of Maine is pretty good. Perhaps, the only state to “get it.”

    We should all move to Maine. Beautiful state.

  4. Thanks Brian Tracy — This is not limited to Aegis. There are numerous assignments (oh- really all of them) linked to obsolete POAs for non bank originators that filed assignments linked to those obsolete POAs for entities no longer in business.

    We know that ALL those non bank originators shut down quickly when the financial crises was exposed. They were either acquired, went to bankruptcy, or disappeared into thin air.

    Title insurers obliged back then. This is NO longer the case. They now know better.

    THANK YOU!!!!

  5. The link to the consent agreement from the article isn’t working for me ,, here it is from the state of Maine.. ==> http://www.maine.gov/tools/whatsnew/attach.php?id=1415351&an=1

  6. Well in California there still doing these illegal foreclosures and getting away with it “Donald duck” can foreclose in California no one helps or cares! They then auction them off on hutbz there real estate company which Ocwen owns and there title company which Ocwen owns. Web of illegal activity if you ask me..

  7. I am in Texas and have argued the fabrication of Ocwen’s documents for the last 5 years. Recently however it appears they are trying to hide behind the PHH mortgage name vs Ocwen in all documents. However 3 weeks ago i received a letter from a new alleged servicer named “New Rez LLC” claiming servicing rights From PHH mortgage only to have another letter this week stating its back to PHH mortgage. Either they have officially confused themselves or they are trying to confuse the market and trying to disassociate Ocwen name on these accounts they know are loaded with illegal documentation.

  8. Would this extend to Countrywide as well, being defunct 5 yrs before assigning to the wrong company in BOA and then to wonderful Greentree, then , Ditech and then two collectors, whom in the last doc added the note, that was not originally assigned anywhere?

  9. Good job Neil — And, you are correct, likely all the assignments on these “crisis” loans were recorded without valid POA as the entity was either defunct or in bankruptcy.

    Title insurers are reluctant today to rely upon POAs. But, during and after the crisis — anything went.

    Credit to Maine to — they seem to be one state where the law still applies.

    Java — in your case, I think you need more than a POA.


  10. Wouldn’t Specialized Loan Servicing need a POA from Fannie Mae as well ?????

    And the AOM was assigned with No POA from Bank Of America NA , as it should have been Bank of America Home Loans , an entirely different entity !!!!!!!

    The Debt Collection lowlife attorney just says they have a POA with no proof !!!!! How does one demand them to produce, when the judge couldn’t care less ???

Contribute to the discussion!

%d bloggers like this: