MD Projected To Get $85.7M In Loan Settlement - 47 ABC - Delmarva's Choice

MD Projected To Get $85.7M In Loan Settlement

Posted: Updated:

ANNAPOLIS, Md. (AP) - Maryland is projected to receive $85.7 million as part of an agreement between 49 states and Ocwen Financial Corp. for first lien principal reductions for distressed borrowers.
    
The Consumer Financial Protection Bureau and state attorneys general announced the $2 billion deal Thursday with the Atlanta-based company, one of the largest U.S. mortgage servicers. The regulators said Ocwen pushed borrowers into foreclosure through illegal actions, such as failing to promptly and accurately credit mortgage payments.
    
Attorney General Doug Gansler has announced Maryland also will receive an additional payment projected to exceed $1,000 each for eligible Maryland borrowers whose homes have been foreclosed.
    
The agreement must be approved by a federal court in Washington.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Spring Gas Giveaway

    Spring Gas Giveaway

    Let WMDT fill up your tank! It's time for our Spring Gas Giveaway! More >>
    Enter for your chance to win a $100 Exxon/Mobil Gas Card!More >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.