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U.S. Securities and Exchange Commission
Glitches, complaints plague Ocwen, other mortgage servicers
Glitches, complaints plague Ocwen, other mortgage servicers

Tyesha Hansborough and her husband, Christley Paton, had paid the property insurance on their Inglewood home along with their mortgage, putting the money in escrow like most homeowners. Trouble is, the couple said, their mortgage servicer — Ocwen Financial Corp. — didn't pass that money on to the insurance company for this year's premiums. They battled unsuccessfully for months to reinstate the lapsed policy without additional costs, the couple said. Ocwen instead imposed so-called force-placed insurance — expensive coverage that protects the lender's interest but doesn't shield the homeowners from loss. "There have been so many...

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