Diedrich v. Ocwen Loan Servicing, LLC

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In 2007, the Diedrichs executed a mortgage note. Ocwen began foreclosure proceedings in 2010. The Diedrichs entered into a loan modification agreement in 2011. After the Diedrichs began making payments pursuant to that agreement, they became concerned about whether their escrow account was being correctly administered and whether they were being charged improper fees. On February 22, 2013, the Diedrichs sent Ocwen a letter, requesting standard information about their account including the names of employees working on their account, the history of payments from their escrow account, and a statement of interest rates, as permitted by the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C. 2605(e)(1)(B). On March 7, Ocwen responded with a form letter, setting forth Ocwen policies regarding information requests; another later, dated March 30, stated that Ocwen would take another 15 days, as permitted by RESPA, to review the inquiry. On April 22, Ocwen sent a letter stating that it could not identify a problem with the account and asking the Diedrichs to identify which month and report they disputed, explain the dispute, and send evidence. The Diedrichs sued, alleging violations of RESPA. The Seventh Circuit affirmed, agreeing that Ocwen’s responses were insufficient and violated RESPA, but that the allegations of damages were “conclusory and vague.” View "Diedrich v. Ocwen Loan Servicing, LLC" on Justia Law