Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Does anyone know what is happen with this suite in the Chicago  under Judge 'Charles R. Norgle?

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4 Justice Now
msims:
 
The last update that I received was back in December 2008. It stated the following: We filed opposition to Ocwen's motion to dismiss before the holidays and the motion is now fully pending.
 
 I'll check with LCHB LLP and see if they have more recent info and will post if/when I get anything
 
V/r,
 
4J 

 

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arkygirl
I started to post that NOTHING was going on with this case, but that would be inaccurate. SOMETHING has happened.

The great legal chess game of maneuvering and outmaneuvering continues. The lawyers throw papers, motions and tactics back and forth. The judge in this match has a timer that not only records minutes and hours, it records YEARS. Soon it will be FIVE YEARS since this thing went to Chicago, won't it? (April 2004 if memory serves).

Meanwhile, America burns to the ground and people are destroyed by crazy banks and an even crazier government. EVERYBODY pays except the perpetrators of the grand fraud that got us all here. And judges sit on their duffs, yawning their lives away, as if it is all the most insignificant thing they have ever seen.

Considering that there are judges in PA headed to jail for creating juvenile jail penalties from almost thin air for their own gain, is it too far a stretch to wonder why Judge Norgle suffers this nasty case in his court year after year? One can only ponder the possible reasons for this never ending delay in Chicago....

Judge Droney in CT was a speed demon compared to this non-movement in Chicago! We need some judicial Ex-Lax, extra strength, please. Or another really angry lawyer who will demand some action. Class action law firms don't seem to mind grand delays. I wonder if this opposition motion was the only thing filed all of last year in this case? Maybe there is some rule that says at least one thing must be filed per annum to keep it all going...and going...and going....


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hgosh
Re PA Judges - there is more to the story, it is just not at the last chapter yet.  Let me state this - the PA Judges are connected with Uncle Louie, D'Elia, Pennsylvania Gaming Commission, Fast Eddie, Tampa Florida crew, Bousalis, Abramoff, and others.  Bet if I tried, I could even link them to the Owl!.
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4 Justice Now
I know this may apply to many others as well, but once Ocwen gets involved in any way, shape or form, logic simply no applies, nor does physics for that "matter".


My opinion.

4J
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This case is up for settlement, I recieved a letter informing me that Ocwen is paying $7 million and not assuming any guilt. Lost my house cuz of this joke company and lawyers cut? 4.2MILLION!! My cut $350!! Love the courts system

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William A. Roper, Jr.

Does anybody need another better example as to WHY class actions are INEFFECTIVE as a means of obtaining redress for borrower's injuries and simply a means of enriching lawyers while actually immunizing the criminal conspirators against any real damage and restitution claims

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Sushimop
I have recieved a letter about an MDL settlement for Ocwen about 3 months ago, and I registered online for a petition to claim a settlement.  They said the last hearing was going to be on May 16th 2011, and I have not found any information on what happened to the hearing, or how much we are going to receive.  Does anyone know what happened to this settlement?  Its been about a week since the hearing of May 16th, 2011.



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I too am waiting to hear about the MDL settlement from Ocwen.  Any news?
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to whom it may concern the case on ocwen may 16th 2011 was held but the judge has not put in an order, i was waitting to hear as well and i found this out!! so we all need to get paid as well as get what is owed to us? if and when the order go as planed it will take two months till checks are sent out. this is a true on going no good for nothing company that has not helped any one! so i pray we get what little we will and i have no clue what that is either? i fall too the late fee case and i stayed option in full what ever, still i do not know if that was the right way to go? good luck

richard ruiz
rich@fctd.com
i hope and never wish for any and we all will make the best with what we got! it ant over
Quote 0 0
to whom it may concern the case on ocwen may 16th 2011 was held but the judge has not put in an order, i was waitting to hear as well and i found this out!! so we all need to get paid as well as get what is owed to us? if and when the order go as planed it will take two months till checks are sent out. this is a true on going no good for nothing company that has not helped any one! so i pray we get what little we will and i have no clue what that is either? i fall too the late fee case and i stayed option in full what ever, still i do not know if that was the right way to go? good luck

richard ruiz
rich@fctd.com
i hope and never wish for any and we all will make the best with what we got! it ant over
Quote 0 0
4JusticeNow

This case was a total joke from day one. It only victimized plaintiffs once again and provided false hope for those who didn't take the time to look into past cases settled by these law firms.

 

 

QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS

NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

A federal court authorized this notice. This is not a solicitation from a lawyer.

YOU SHOULD READ THIS NOTICE CAREFULLY

BECAUSE IT WILL AFFECT YOUR LEGAL RIGHTS.

TO: Individuals with a home mortgage loan serviced by Ocwen Federal Bank FSB and/or Ocwen Loan Servicing, LLC ("Ocwen") between January 1, 2001 and June 10, 2010 who were assessed: (1) four or more late fees that were not cancelled or forgiven and/or (2) premiums for forced-placed insurance which insurance was not flat-cancelled with all premium charges reversed and/or (3) bankruptcy-related costs and fees in excess of $150 if the borrower was current at the time of the bankruptcy filing and/or in excess of $600 if the borrower was delinquent at the time of filing.

If this Notice was addressed to you, you are a member of a proposed Settlement Class, unless: (1) you have previously received a loan modification in connection with a loan currently serviced by Ocwen; (2) you are currently on a forbearance plan with Ocwen; (3) you have already granted Ocwen a full release which would bar claims related to those asserted in the MDL Actions described below; or (4) you are subject to a judgment in previous litigation which would bar such claims.

PURPOSE OF THIS NOTICE

This Notice informs you about a class action lawsuit and proposed Settlement. Currently pending in the United States District Court for the Northern District of Illinois is a multidistrict action entitled In re Ocwen Federal Bank FSB Mortgage Servicing Litigation, MDL No. 1604, Lead Case No. 04-2714. This action consists of a number of individual actions and putative class action lawsuits that were filed in various jurisdictions and consolidated into the multidistrict proceeding (the "MDL Actions"). On January 12, 2011, Judge Charles Norgle tentatively approved a proposed Settlement in the MDL Actions. This Notice advises you of the benefits that may be available to you under the proposed Settlement and your rights and options as a Settlement Class Member, and notifies you that a hearing will be held to approve the Settlement.

WHAT ARE THE MDL ACTIONS ABOUT?

The MDL Actions allege that Ocwen and the firm Moss Codilis Stawiarski Morris Schneider & Prior, LLP ("Moss Codilis") (collectively, "Defendants") engaged in unfair and/or unlawful practices related to servicing home mortgage loans and collecting debts with respect to such loans. Ocwen and Moss Codilis deny that they have done anything wrong. However, to avoid the expense, inconvenience and interference with their business operations created by the MDL Actions, they have concluded that it is in their best interests to settle the Actions on the terms summarized in this Notice.

The Settlement was reached through arms’-length negotiations between the parties after consultations with experts and the exchange of information. The Court has determined that the Action should proceed as a Class Action for purposes of Settlement only, with certain plaintiffs representing the Settlement Class. The Court has granted preliminary approval of the settlement, subject to a final hearing discussed below.

THE PROPOSED SETTLEMENT

The parties have agreed to the Settlement generally described below:

The Settlement consists of cash benefits in the amount of $7,000,000 and non-cash benefits in the form of late fee waivers and deficiency waivers. The Settlement Class is divided into two groups of individuals. One group QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

of individuals includes members of the Settlement Class who were assessed (1) at least two premiums for forced-placed insurance, which insurance was not later flat-cancelled with all premium charges reversed; (2) a total of more than $1,000 in default and delinquency fees; or (3) bankruptcy-related costs and fees in excess of $150 if the loan was current at the time of the bankruptcy filing or in excess of $600 if the loan was delinquent at the time of filing. These individuals are eligible to be Full Participants under the Settlement and may qualify to receive a late fee waiver, a deficiency waiver, or a cash payment of up to $350.00 in exchange for a full release of any and all claims that they have against Defendants.

IF THIS NOTICE WAS ADDRESSED TO YOU, YOU ARE ELIGIBLE TO BE A FULL PARTICIPANT UNDER THE SETTLEMENT AND TO RECEIVE A WAIVER OF 50% OF THE AMOUNT OF LATE FEES OWED ON YOUR LOAN, UP TO $1,000. If the Settlement obtains final approval and you do not opt out, Ocwen will automatically waive 50% of the late fees on your loan, up to $1,000 in exchange for a Full Release. This waiver will be automatic and you do not have to do anything to receive it. In addition, you have the option to submit a claim for a share of a $1,000,000 Statutory Settlement Fund, as discussed below.

You have the option to decline the late fee waiver for which you are eligible. Whether or not you choose to accept the late fee waiver, you also have the option to submit a claim to receive a share of the Statutory Settlement Fund, described below.

The other group of individuals includes all other members of the Settlement Class who do not satisfy any of the three above criteria for Full Participant eligibility. These Settlement Class Members are called Limited Participants. Limited Participants (as well as Full Participants) are each eligible to claim a share of a $1,000,000 Statutory Settlement Fund which will be divided equally among those who submit a claim against the fund, but not to exceed $1,000 per claimant. This $1,000,000 Statutory Settlement Fund will be created from the $7,000,000 cash amount paid by Defendants as part of the Settlement. In exchange for the opportunity to make a claim for a portion of the Statutory Settlement Fund, all Limited Participants (as well as Full Participants) release their claims against Defendants for statutory damages under the Fair Debt Collections Practices Act ("FDCPA") and the Real Estate Settlement Procedures Act ("RESPA"). Limited Participants will retain all other rights they may have against Defendants. In the event that more than 200,000 individuals submit a claim against the Statutory Settlement Fund (which would result in payments of less than $5 per claimant), the entire Statutory Settlement Fund will be donated to a 501(c)(3) non-profit organization to be approved by the Court. In the event that less than 1,000 individuals claim against the Statutory Settlement Fund, any amounts remaining in excess of $1,000 multiplied by the number of claimants will be donated to a 501(c)(3) non-profit organization to be approved by the Court.

The parties have agreed that, subject to the Court’s final approval, certain plaintiffs who brought claims shall be entitled to incentive awards of up to $7,500 each in recognition of the amount of time and effort expended by these plaintiffs in acting as class representatives and/or in litigating their claims against Defendants. The parties also have agreed that, subject to the Court’s final approval, Settlement Class Counsel shall be entitled to an award of attorneys’ fees and costs of up to $4,250,000 which the parties agreed represents a fair amount commensurate with the nature of the MDL Actions, the amount of attorneys’ fees and costs incurred to date, and the results achieved for the members of the Settlement Class – i.e., the Statutory Settlement Fund, the opportunity for cash payments to certain Full Participants, the cash-equivalent benefits to qualifying Full Participants (late fee waivers worth approximately on average $200 and deficiency waivers of the entire amount of the borrower’s deficiency balance), and servicing practice changes (all details are in the Settlement Agreement at http://www.OcwenMDLSettlement.com). The attorneys’ fees and costs will be deducted from the $7,000,000 cash amount paid by Defendants as part of the Settlement. The payment of attorneys’ fees and costs will not affect the $1,000,000 allocated to the Statutory Settlement Fund discussed above. The payment of attorneys’ fees and costs will also not affect the non-cash benefits, including deficiency waivers and late fee waivers, available under the Settlement, or the servicing practice changes. QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

IF YOU DECIDE YOU WOULD LIKE ASSISTANCE IN DETERMINING WHETHER TO ACCEPT THE LATE FEE WAIVER AVAILABLE TO YOU UNDER THIS SETTLEMENT, YOU MAY CONTACT A HUD-CERTIFIED HOUSING COUNSELOR AT 800-569-4287 WHO CAN ASSIST YOU IN MAKING THIS DECISION.

RELEASE OF CLAIMS

If the Settlement is granted final approval, all Settlement Class Members, including both Full Participants and Limited Participants, will be deemed to have released, relinquished and discharged Defendants and Defendants’ Related Parties from any and all claims for statutory damages under FDCPA and RESPA based on alleged conduct that occurred up to and including June 10, 2010. Limited Participants will otherwise retain their rights against Defendants and Defendants’ Related Parties, including the right to sue for actual damages under FDCPA and/or RESPA, and/or other claims arising out of state or federal law, to the extent such claims may exist.

In addition to releasing their claims for statutory damages under FDCPA and RESPA, Full Participants will also release any and all claims that they have against Defendants and Defendants’ Related Parties, including any unknown claims, arising out of, or related to, the facts and/or claims alleged in the MDL Actions arising out of state or federal law, including but not limited to (i) any and all claims related to Defendants’ mortgage servicing activities, including but not limited to claims relating to Defendants’ calculation, collection, handling, application and/or crediting of mortgage payments; assessment of any related fees, costs, late fees, insurance premiums, attorneys’ fees, foreclosure-related fees and costs, broker price opinion fees, appraisal fees, property inspection fees, forbearance fees, prepayment penalties, bankruptcy-related fees and costs and other similar fees and costs; practices relating to the forced-placement of hazard and/or flood insurance including the amount of and/or assessment and/or collection of any and all premiums relating to the same; administration of escrow accounts; initiation of default and foreclosure proceedings including any fees and costs associated therewith; reinstatement and payoff procedures, including any fees and costs associated therewith; credit reporting practices; (ii) any and all claims related to Defendants’ debt collection activities; and (iii) any and all claims that were or could have been brought against Defendants or Defendants’ Related Parties in the MDL Actions ("Full Release").

Full Participants shall be deemed to have waived the provisions, rights and benefits of California Civil Code § 1542, which provides: A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

IF YOU DO NOT OPT OUT OF THIS SETTLEMENT AND THE SETTLEMENT IS APPROVED, YOU WILL BE A FULL PARTICIPANT SUBJECT TO THE FULL RELEASE DESCRIBED ABOVE.

FINAL HEARING

A final hearing will be held before Judge Charles Norgle on May 16, 2011 at 11:00 a.m., to determine whether the proposed Settlement is fair, reasonable and adequate and should be finally approved. The hearing will take place at Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604 Courtroom 2341. You are not required to attend the hearing in order to participate in the Settlement.

WHAT YOU CAN DO

1. Do Nothing. You may take no action in response to this Notice. If you take no action, 50% of the late fees on your loan (up to $1,000) will be automatically waived after the Settlement is finalized. If you take no action and the Settlement is approved, you will be deemed to have granted Defendants and their Related Parties a Full QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

Release, as described above and more fully at http://www.OcwenMDLSettlement.com. However, if you do nothing, you will not be eligible to receive a pro rata share of the $1,000,000 Statutory Settlement Fund to which you are otherwise entitled, as described more fully above.

2. Opt Out. If you do not want to be a Full Participant under the Settlement, you can choose to opt out. If you opt out, you will not receive a late fee waiver. If you opt out, you will still be a Limited Participant under the Settlement. You will be eligible to make a claim against the Statutory Settlement Fund. If you opt out and the Settlement is approved, you will be deemed to have released your claims for statutory damages under the FDCPA and RESPA as described above, regardless of whether you make a claim against the Statutory Settlement Fund. In order to opt out and indicate whether you would like to claim against the Statutory Settlement Fund, you must complete and return the enclosed Claim Form (or fill out a Claim Form online at http://www.OcwenMDLSettlement.com). Unless you complete and return the enclosed Claim Form, you will be considered a Full Participant if the Settlement obtains final approval, and you will receive a late fee waiver in exchange for a Full Release.

3. Submit A Claim For A Share Of The Statutory Settlement Fund. As described above, you can submit a claim against the Statutory Settlement Fund even if you do not want to be a Full Participant under the Settlement. However, you also have the option of submitting a claim against the Statutory Settlement Fund even if you do want to be Full Participant under the Settlement. If you want to receive a waiver of 50% of the late fees of your loan (of up to $1,000) and claim a share of the Statutory Settlement Fund, you must complete and return the enclosed Claim Form (or fill out a Claim Form online at http://www.OcwenMDLSettlement.com). If you do not submit a claim form, you will not receive a share of the Statutory Settlement Fund.

4. Object To The Settlement. If you want to object to the terms of the Settlement, you must follow the procedures set forth below. You do not need to appear in court to file an objection. If your objection is rejected, you will be bound by the final judgment just as if you had not objected. If you want an opportunity to appear in court and object, you must make a request to appear and specifically set forth each reason for your objection in writing. You must file this writing with the Court and serve copies of the same upon Plaintiffs’ Class Counsel and Defendants’ counsel and the Court at the addresses listed below, all of which must be postmarked by March 28 2011: Settlement Class Counsel

Niall McCarthy

Cotchett, Pitre & McCarthy

San Francisco Airport Office Ctr.

840 Malcolm Road, Suite 200

Burlingame, CA 94010

Kelly Dermody

Lieff, Cabraser, Heimann & Bernstein

275 Battery Street, 29th Fl.

San Francisco, CA 94111

Defendants’ Counsel

Brian P. Brooks

O’Melveny & Myers LLP

1625 Eye Street N.W.

Washington, D.C. 20006

David Chizewer

Goldberg Kohn

55 East Monroe Street, Suite 3300

Chicago, IL 60603

Court

Clerk of the Court

United States District Court for the Northern District of Illinois

Everett McKinley Dirksen Bldg.

219 South Dearborn St.

Courtroom No. 2341

Chicago, IL 60603

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4JusticeNow

This case was a total joke from day one. It only victimized plaintiffs once again and provided false hope for those who didn't take the time to look into past cases settled by these law firms.

 

 

QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS

NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION

A federal court authorized this notice. This is not a solicitation from a lawyer.

YOU SHOULD READ THIS NOTICE CAREFULLY

BECAUSE IT WILL AFFECT YOUR LEGAL RIGHTS.

TO: Individuals with a home mortgage loan serviced by Ocwen Federal Bank FSB and/or Ocwen Loan Servicing, LLC ("Ocwen") between January 1, 2001 and June 10, 2010 who were assessed: (1) four or more late fees that were not cancelled or forgiven and/or (2) premiums for forced-placed insurance which insurance was not flat-cancelled with all premium charges reversed and/or (3) bankruptcy-related costs and fees in excess of $150 if the borrower was current at the time of the bankruptcy filing and/or in excess of $600 if the borrower was delinquent at the time of filing.

If this Notice was addressed to you, you are a member of a proposed Settlement Class, unless: (1) you have previously received a loan modification in connection with a loan currently serviced by Ocwen; (2) you are currently on a forbearance plan with Ocwen; (3) you have already granted Ocwen a full release which would bar claims related to those asserted in the MDL Actions described below; or (4) you are subject to a judgment in previous litigation which would bar such claims.

PURPOSE OF THIS NOTICE

This Notice informs you about a class action lawsuit and proposed Settlement. Currently pending in the United States District Court for the Northern District of Illinois is a multidistrict action entitled In re Ocwen Federal Bank FSB Mortgage Servicing Litigation, MDL No. 1604, Lead Case No. 04-2714. This action consists of a number of individual actions and putative class action lawsuits that were filed in various jurisdictions and consolidated into the multidistrict proceeding (the "MDL Actions"). On January 12, 2011, Judge Charles Norgle tentatively approved a proposed Settlement in the MDL Actions. This Notice advises you of the benefits that may be available to you under the proposed Settlement and your rights and options as a Settlement Class Member, and notifies you that a hearing will be held to approve the Settlement.

WHAT ARE THE MDL ACTIONS ABOUT?

The MDL Actions allege that Ocwen and the firm Moss Codilis Stawiarski Morris Schneider & Prior, LLP ("Moss Codilis") (collectively, "Defendants") engaged in unfair and/or unlawful practices related to servicing home mortgage loans and collecting debts with respect to such loans. Ocwen and Moss Codilis deny that they have done anything wrong. However, to avoid the expense, inconvenience and interference with their business operations created by the MDL Actions, they have concluded that it is in their best interests to settle the Actions on the terms summarized in this Notice.

The Settlement was reached through arms’-length negotiations between the parties after consultations with experts and the exchange of information. The Court has determined that the Action should proceed as a Class Action for purposes of Settlement only, with certain plaintiffs representing the Settlement Class. The Court has granted preliminary approval of the settlement, subject to a final hearing discussed below.

THE PROPOSED SETTLEMENT

The parties have agreed to the Settlement generally described below:

The Settlement consists of cash benefits in the amount of $7,000,000 and non-cash benefits in the form of late fee waivers and deficiency waivers. The Settlement Class is divided into two groups of individuals. One group QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

of individuals includes members of the Settlement Class who were assessed (1) at least two premiums for forced-placed insurance, which insurance was not later flat-cancelled with all premium charges reversed; (2) a total of more than $1,000 in default and delinquency fees; or (3) bankruptcy-related costs and fees in excess of $150 if the loan was current at the time of the bankruptcy filing or in excess of $600 if the loan was delinquent at the time of filing. These individuals are eligible to be Full Participants under the Settlement and may qualify to receive a late fee waiver, a deficiency waiver, or a cash payment of up to $350.00 in exchange for a full release of any and all claims that they have against Defendants.

IF THIS NOTICE WAS ADDRESSED TO YOU, YOU ARE ELIGIBLE TO BE A FULL PARTICIPANT UNDER THE SETTLEMENT AND TO RECEIVE A WAIVER OF 50% OF THE AMOUNT OF LATE FEES OWED ON YOUR LOAN, UP TO $1,000. If the Settlement obtains final approval and you do not opt out, Ocwen will automatically waive 50% of the late fees on your loan, up to $1,000 in exchange for a Full Release. This waiver will be automatic and you do not have to do anything to receive it. In addition, you have the option to submit a claim for a share of a $1,000,000 Statutory Settlement Fund, as discussed below.

You have the option to decline the late fee waiver for which you are eligible. Whether or not you choose to accept the late fee waiver, you also have the option to submit a claim to receive a share of the Statutory Settlement Fund, described below.

The other group of individuals includes all other members of the Settlement Class who do not satisfy any of the three above criteria for Full Participant eligibility. These Settlement Class Members are called Limited Participants. Limited Participants (as well as Full Participants) are each eligible to claim a share of a $1,000,000 Statutory Settlement Fund which will be divided equally among those who submit a claim against the fund, but not to exceed $1,000 per claimant. This $1,000,000 Statutory Settlement Fund will be created from the $7,000,000 cash amount paid by Defendants as part of the Settlement. In exchange for the opportunity to make a claim for a portion of the Statutory Settlement Fund, all Limited Participants (as well as Full Participants) release their claims against Defendants for statutory damages under the Fair Debt Collections Practices Act ("FDCPA") and the Real Estate Settlement Procedures Act ("RESPA"). Limited Participants will retain all other rights they may have against Defendants. In the event that more than 200,000 individuals submit a claim against the Statutory Settlement Fund (which would result in payments of less than $5 per claimant), the entire Statutory Settlement Fund will be donated to a 501(c)(3) non-profit organization to be approved by the Court. In the event that less than 1,000 individuals claim against the Statutory Settlement Fund, any amounts remaining in excess of $1,000 multiplied by the number of claimants will be donated to a 501(c)(3) non-profit organization to be approved by the Court.

The parties have agreed that, subject to the Court’s final approval, certain plaintiffs who brought claims shall be entitled to incentive awards of up to $7,500 each in recognition of the amount of time and effort expended by these plaintiffs in acting as class representatives and/or in litigating their claims against Defendants. The parties also have agreed that, subject to the Court’s final approval, Settlement Class Counsel shall be entitled to an award of attorneys’ fees and costs of up to $4,250,000 which the parties agreed represents a fair amount commensurate with the nature of the MDL Actions, the amount of attorneys’ fees and costs incurred to date, and the results achieved for the members of the Settlement Class – i.e., the Statutory Settlement Fund, the opportunity for cash payments to certain Full Participants, the cash-equivalent benefits to qualifying Full Participants (late fee waivers worth approximately on average $200 and deficiency waivers of the entire amount of the borrower’s deficiency balance), and servicing practice changes (all details are in the Settlement Agreement at http://www.OcwenMDLSettlement.com). The attorneys’ fees and costs will be deducted from the $7,000,000 cash amount paid by Defendants as part of the Settlement. The payment of attorneys’ fees and costs will not affect the $1,000,000 allocated to the Statutory Settlement Fund discussed above. The payment of attorneys’ fees and costs will also not affect the non-cash benefits, including deficiency waivers and late fee waivers, available under the Settlement, or the servicing practice changes. QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

IF YOU DECIDE YOU WOULD LIKE ASSISTANCE IN DETERMINING WHETHER TO ACCEPT THE LATE FEE WAIVER AVAILABLE TO YOU UNDER THIS SETTLEMENT, YOU MAY CONTACT A HUD-CERTIFIED HOUSING COUNSELOR AT 800-569-4287 WHO CAN ASSIST YOU IN MAKING THIS DECISION.

RELEASE OF CLAIMS

If the Settlement is granted final approval, all Settlement Class Members, including both Full Participants and Limited Participants, will be deemed to have released, relinquished and discharged Defendants and Defendants’ Related Parties from any and all claims for statutory damages under FDCPA and RESPA based on alleged conduct that occurred up to and including June 10, 2010. Limited Participants will otherwise retain their rights against Defendants and Defendants’ Related Parties, including the right to sue for actual damages under FDCPA and/or RESPA, and/or other claims arising out of state or federal law, to the extent such claims may exist.

In addition to releasing their claims for statutory damages under FDCPA and RESPA, Full Participants will also release any and all claims that they have against Defendants and Defendants’ Related Parties, including any unknown claims, arising out of, or related to, the facts and/or claims alleged in the MDL Actions arising out of state or federal law, including but not limited to (i) any and all claims related to Defendants’ mortgage servicing activities, including but not limited to claims relating to Defendants’ calculation, collection, handling, application and/or crediting of mortgage payments; assessment of any related fees, costs, late fees, insurance premiums, attorneys’ fees, foreclosure-related fees and costs, broker price opinion fees, appraisal fees, property inspection fees, forbearance fees, prepayment penalties, bankruptcy-related fees and costs and other similar fees and costs; practices relating to the forced-placement of hazard and/or flood insurance including the amount of and/or assessment and/or collection of any and all premiums relating to the same; administration of escrow accounts; initiation of default and foreclosure proceedings including any fees and costs associated therewith; reinstatement and payoff procedures, including any fees and costs associated therewith; credit reporting practices; (ii) any and all claims related to Defendants’ debt collection activities; and (iii) any and all claims that were or could have been brought against Defendants or Defendants’ Related Parties in the MDL Actions ("Full Release").

Full Participants shall be deemed to have waived the provisions, rights and benefits of California Civil Code § 1542, which provides: A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

IF YOU DO NOT OPT OUT OF THIS SETTLEMENT AND THE SETTLEMENT IS APPROVED, YOU WILL BE A FULL PARTICIPANT SUBJECT TO THE FULL RELEASE DESCRIBED ABOVE.

FINAL HEARING

A final hearing will be held before Judge Charles Norgle on May 16, 2011 at 11:00 a.m., to determine whether the proposed Settlement is fair, reasonable and adequate and should be finally approved. The hearing will take place at Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604 Courtroom 2341. You are not required to attend the hearing in order to participate in the Settlement.

WHAT YOU CAN DO

1. Do Nothing. You may take no action in response to this Notice. If you take no action, 50% of the late fees on your loan (up to $1,000) will be automatically waived after the Settlement is finalized. If you take no action and the Settlement is approved, you will be deemed to have granted Defendants and their Related Parties a Full QUESTIONS? CALL 1-877-803-7677 TOLL FREE OR VISIT http://www.OCWENMDLSETTLEMENT.COM

Release, as described above and more fully at http://www.OcwenMDLSettlement.com. However, if you do nothing, you will not be eligible to receive a pro rata share of the $1,000,000 Statutory Settlement Fund to which you are otherwise entitled, as described more fully above.

2. Opt Out. If you do not want to be a Full Participant under the Settlement, you can choose to opt out. If you opt out, you will not receive a late fee waiver. If you opt out, you will still be a Limited Participant under the Settlement. You will be eligible to make a claim against the Statutory Settlement Fund. If you opt out and the Settlement is approved, you will be deemed to have released your claims for statutory damages under the FDCPA and RESPA as described above, regardless of whether you make a claim against the Statutory Settlement Fund. In order to opt out and indicate whether you would like to claim against the Statutory Settlement Fund, you must complete and return the enclosed Claim Form (or fill out a Claim Form online at http://www.OcwenMDLSettlement.com). Unless you complete and return the enclosed Claim Form, you will be considered a Full Participant if the Settlement obtains final approval, and you will receive a late fee waiver in exchange for a Full Release.

3. Submit A Claim For A Share Of The Statutory Settlement Fund. As described above, you can submit a claim against the Statutory Settlement Fund even if you do not want to be a Full Participant under the Settlement. However, you also have the option of submitting a claim against the Statutory Settlement Fund even if you do want to be Full Participant under the Settlement. If you want to receive a waiver of 50% of the late fees of your loan (of up to $1,000) and claim a share of the Statutory Settlement Fund, you must complete and return the enclosed Claim Form (or fill out a Claim Form online at http://www.OcwenMDLSettlement.com). If you do not submit a claim form, you will not receive a share of the Statutory Settlement Fund.

4. Object To The Settlement. If you want to object to the terms of the Settlement, you must follow the procedures set forth below. You do not need to appear in court to file an objection. If your objection is rejected, you will be bound by the final judgment just as if you had not objected. If you want an opportunity to appear in court and object, you must make a request to appear and specifically set forth each reason for your objection in writing. You must file this writing with the Court and serve copies of the same upon Plaintiffs’ Class Counsel and Defendants’ counsel and the Court at the addresses listed below, all of which must be postmarked by March 28 2011: Settlement Class Counsel

Niall McCarthy

Cotchett, Pitre & McCarthy

San Francisco Airport Office Ctr.

840 Malcolm Road, Suite 200

Burlingame, CA 94010

Kelly Dermody

Lieff, Cabraser, Heimann & Bernstein

275 Battery Street, 29th Fl.

San Francisco, CA 94111

Defendants’ Counsel

Brian P. Brooks

O’Melveny & Myers LLP

1625 Eye Street N.W.

Washington, D.C. 20006

David Chizewer

Goldberg Kohn

55 East Monroe Street, Suite 3300

Chicago, IL 60603

Court

Clerk of the Court

United States District Court for the Northern District of Illinois

Everett McKinley Dirksen Bldg.

219 South Dearborn St.

Courtroom No. 2341

Chicago, IL 60603

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