July 7, 2014
Las Vegas, NV – Nevada Attorney General Catherine Cortez Masto announced that claims forms for payment under the $2.1 billion Ocwen national mortgage foreclosure settlement have been sent to approximately 5,200 Nevada eligible borrowers who lost their homes to foreclosure.
Nevadans who lost their home to foreclosure between January 1, 2009 and December 31, 2012 and whose loans were serviced by Ocwen Loan Servicing, Litton Loan Servicing LP, or Homeward Residential Holdings LLC (previously known as American Home Mortgage Servicing Inc. or AHMSI) received a bilingual English/Spanish package containing a letter from Attorney General Masto, a claim form and instructions in the mail around June 27. Click here to see a sample document.
“I hope this settlement will help Nevada borrowers who lost their homes to foreclosure due to unscrupulous mortgage servicing practices,” said Masto. “I will continue working to ensure Nevada homeowners are better protected. As with all big news, scammers will try to take advantage of unsuspecting people. That is why we encourage people who think they may have encountered a scam to contact my office or Home Again. The benefit of contacting Home Again is that people can determine what state or federal assistance may be available to them beyond this national mortgage foreclosure settlement.”
Consumers MUST submit a claim form online at www.nationalmortgagesettlement.com or by mail using the prepaid envelope provided by Sept. 15.
Individual consumers will likely receive payments of between $679 and $1,235, depending upon how many eligible people submit claims. Payment checks are expected to be mailed in late 2014 or early 2015.
Rust Consulting will be administering the claims on behalf of Ocwen. People with questions can call toll free 1-866-783-5382, in English and Spanish, Monday through Friday from 7:00 a.m. to 7:00 p.m. Central time or email settlementadministrator@nationalocwensettlement.com.
Ocwen agreed to the settlement with 48 additional states, the District of Columbia, and the Consumer Financial Protection Bureau (CFPB). Ocwen will provide troubled borrowers with an estimated $32,706,241 million in first lien principal reductions, and loans will be eligible to receive a cash payment.
Home Again Nevada: Free claim form assistance available
The one-page claim forms are simple to complete. However, Nevada borrowers who have questions or need help filing their claim can contact the settlement administrator or Home Again: Nevada Homeowner Relief Program, sponsored by the Nevada Attorney General’s Office. Home Again makes it easier to determine what state or federal assistance may be available to them. For more information contact 1-855-HLP4NEV (1-855-457-4638) or visit the website: homeagainnevada.gov. Home Again is open to all Nevadans, but is designed specifically to help those working toward homeownership, individuals seeking to restore their credit, and homeowners interested in modifying a home loan.
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