Two major mortgage processors agreed to pay $12.5 million to settle a nationwide class action alleging they engaged in abusive collection practices by charging “convenience”and “processing” fees to clients to process mortgage payments on time.

The defendants, PHH Mortgage Corp. and OCWEN Loan Servicing, will pay mortgage loan credits or cash refunds of 28% or 18% to class members who paid convenience fees to make telephone or web-based mortgage payments.

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