VA Residents Receiving Mortgage Settlement Checks

RICHMOND, Va. (AP) – More than 2,300 Virginians are receiving checks as part of a national settlement with a major sub prime mortgage servicing company.

Attorney General Mark Herring says checks of about $1,150 are now being distributed and should be received by consumers in the coming weeks.

The money is going to borrowers who had mortgages serviced by Ocwen Financial Corporation and two affiliated companies, Litton Loan Servicing LP, and Homeward Residential Holdings LLC, and who lost their homes to foreclosure over a four-year period beginning in 2009.

Ocwen agreed to the $2.1 billion settlement after state and federal investigations resulted in allegations of many violations of in its servicing of mortgages and its foreclosure procedures.


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