Maryland to Receive Nearly $86 Million From National Settlement with Mortgage Servicer

DECEMBER 20

Baltimore – Maryland will receive nearly $86 million to provide relief for distressed borrowers under a joint federal-state settlement with Ocwen Financial Corp. and its subsidiary Ocwen Loan Servicing, Attorney General Douglas Gansler announced.

The settlement brings new resources to Maryland’s foreclosure prevention efforts, already ranked among the most effective in the nation.

The $85.7 million will be used for first lien principal reductions for distressed borrowers and to provide a payment to eligible Maryland borrowers whose homes have been foreclosed.

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