PHILADELPHIA, May 19, 2014 /PRNewswire-USNewswire/ -- On behalf of homeowners, the law firm of Berger & Montague, P.C. has filed a class action complaint in the U.S. District Court for the Eastern District of Pennsylvania. The complaint alleges that Ocwen Loan Servicing, LLC ("Ocwen") violated the law by failing to timely present to county clerks documents proving that mortgage loans have been satisfied.
The complaint is brought on behalf of Pennsylvania homeowners whose mortgage loans have been serviced by Ocwen and who paid in full all amounts due under their mortgages pursuant to a payoff quote provided by Ocwen. These homeowners subsequently requested that Ocwen record a document proving that the mortgage loan has been satisfied and paid off. But Ocwen failed to do so within 60 days of its receipt of the borrower's written request. On this basis, plaintiff alleges that Ocwen has violated Pennsylvania's Mortgage Satisfaction Act, and the federal Real Estate Settlement Procedures Act.
Failure by the mortgage servicer to timely file the mortgage satisfaction document can affect a homeowner's ability to refinance his or her home and have other serious consequences.
If you have paid off a mortgage loan that was serviced by Ocwen, and you believe that Ocwen failed to timely file a loan satisfaction document with the county recorder's office where your mortgage was recorded, please contact plaintiffs' counsel, Eric Lechtzin of Berger & Montague, P.C. at 888-891-2289 or 215-875-3038, or, by e-mail, at firstname.lastname@example.org. A copy of the Complaint can be viewed on the firm's website at www.bergermontague.com or viewed in the Court's files. The docket number is 2:14-cv-02824-RBS.
Berger & Montague, P.C. also is investigating similar claims, throughout the United States, relating to the practices of the following mortgage servicers:
- Bank of America, N.A.
- CitiMortgage, Inc.
- HSBC Mortgage Corporation
- JPMorgan Chase Bank, N.A.
- Wells Fargo Bank, N.A.
Berger & Montague, P.C., with over 50 attorneys, represents plaintiffs in complex and class action litigation. The firm has played lead roles in major cases for over 40 years, resulting in recoveries of billions of dollars for its clients and the classes they represent.
SOURCE Berger & Montague, P.C.