Alaska is part of a $2-Billion Dollar Settlement with the Ocwen Financial Corporation

The State of Alaska has joined a national settlement with a large mortgage company accused of misconduct. The settlement is for $2.1-billion dollars. The Ocwen Financial Corporation and several subsidiaries allegedly were involved in misconduct that let to premature and unauthorized foreclosures. As part of the settlement Ocwen will provide an estimated $950-thousand dollars in principal reduction to troubled borrowers in Alaska. Ocwen is scheduled to contact borrowers about principal reductions but borrowers can also call a special phone number that has been set up at 1-800-337-6695.