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ยป VISIT US ONLINE @ DSNEWS.COM 79 IN THE NEWS Ocwen to Pay $3.7M to Massachusetts Homeowners Ocwen, the nation's fourth largest mortgage servicer, has agreed to pay $3.7 million to resolve allegations that it failed to give notice to homeowners and that the company unlawfully foreclosed on properties in Massachusetts. e announcement came from the state's attorney general, Martha Coakley, who alleged the non-bank servicer failed to follow Massachusetts law when handling certain mortgage loans. e Massachusetts AG charged the company with failing to send state- mandated notices to homeowners in default, as well as failing to execute proper mortgage assignments. Furthermore, a company acquired by Ocwen, Litton Home Servicing Limited Partnership, allegedly initiated foreclosures when it did not hold the actual mortgages. e AG's office alleged that Litton's actions resulted in void foreclosure, which affected the marketability and insurability of the titles. "Massachusetts homeowners faced unnecessary challenges due to these companies' failure to provide proper notices and by initiating illegal foreclosures," Coakley said. "is agreement provides for direct relief for affected borrowers and requires that Ocwen undertake efforts to repair problem titles in the Commonwealth." Ocwen will pay $3 million to Massachusetts homeowners, while $700,000 will go directly to the state. Maine RANK: 5 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 2.56% 3.89% 5.5% YEAR AGO 2.51% 5.36% 6.7% YEAR-OVER-YEAR CHANGE 2.2% -27.4% -1.2% Top County WASHINGTON COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.38% 9.82% YEAR AGO 3.25% 13.06% YEAR-OVER-YEAR CHANGE 4.1% -24.8% Top Core-Based Statistical Area LEWISTON-AUBURN, ME 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.26% 5.73% YEAR AGO 3.31% 7.05% YEAR-OVER-YEAR CHANGE -1.5% -18.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Maryland RANK: 10 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 3.04% 2.37% 5.8% YEAR AGO 3.70% 3.88% 6.7% YEAR-OVER-YEAR CHANGE -18.0% -38.9% -0.9% Top County CAROLINE COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 4.33% 5.48% YEAR AGO 5.01% 6.95% YEAR-OVER-YEAR CHANGE -13.6% -21.2% Top Core-Based Statistical Area CAMBRIDGE, MD 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.77% 3.87% YEAR AGO 3.98% 7.09% YEAR-OVER-YEAR CHANGE -5.4% -45.5% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Massachusetts RANK: 27 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 3.48% 1.42% 5.5% YEAR AGO 3.31% 2.30% 7.1% YEAR-OVER-YEAR CHANGE 5.2% -38.0% -1.6% Top County FRANKLIN COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 5.54% 2.94% YEAR AGO 5.10% 3.60% YEAR-OVER-YEAR CHANGE 8.7% -18.5% Top Core-Based Statistical Area SPRINGFIELD, MA 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 5.89% 2.53% YEAR AGO 5.04% 3.63% YEAR-OVER-YEAR CHANGE 16.9% -30.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Massachusetts Baris Berk United Brokers 1725 Revere Beach Prkwy Everett, MA 02149 617.389.2700 tel 617.461.4238 cell 617.389.5656 fax reomaster@live.com www.unitedbrokersworld.com New Hampshire RANK: 35 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 2.07% 0.99% 4.4% YEAR AGO 2.07% 1.50% 5.2% YEAR-OVER-YEAR CHANGE -0.2% -34.1% -0.8% Top County SULLIVAN COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.35% 1.78% YEAR AGO 2.59% 2.51% YEAR-OVER-YEAR CHANGE 29.2% -29.0% Top Core-Based Statistical Area BERLIN, NH-VT 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.14% 2.09% YEAR AGO 2.50% 2.50% YEAR-OVER-YEAR CHANGE 25.7% -16.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics.