Civil Litigation,
Banking
Aug. 8, 2022
Judge decertifies class claims against mortgage lender
Ocwen Financial is accused of improperly marking up property valuations and charging borrowers those costs.
Ocwen Financial Corp. successfully petitioned a judge to decertify a class that accused the mortgage lender of marking up property prices, arguing the plaintiffs failed to prove that each class member suffered monetary losses.
“Every class member must have suffered … monetary harm in order to establish Article III standing to proceed before this Court,” U.S. District Judge Troy L. Nunley of Sacramento wrote in his Aug. 3 order to decertify...
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