Mortgage servicer Ocwen Financial Corp. was ordered to pay $268 million in principal reductions and nearly $23 million in reimbursements to California homeowners foreclosed on between January 1, 2009 and December 31, 2012.
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JPMorgan Chase has all but recovered the entire $13 billion Justice Department settlement through a three percent stock price increase.
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Now that Chase’s $13 billion settlement with the Justice Department is official, lets put it in perspective.
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Mortgage servicers have published an itemized list of the payments they will make to wronged borrowers as a result of a multi-billion dollar settlement reached earlier this year.
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