Adam Moskowitz, left, and Howard Bushman, right. Courtesy photos
"Such abusive collection practices surrounding convenience fees have run rampant across the country in recent years and some courts have found them to be illegal," said Coral Gables Attorney Adam Moskowitz.
August 27, 2020 at 03:37 PM
1 minute read
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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