Wells Fargo, Ocwen Hit With FCA Suit Over Freddie Claims

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Wells Fargo, Ocwen Hit With FCA Suit Over Freddie Claims
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Two homeowners have told a New York federal court that Wells Fargo & Co. and Ocwen Financial Corp. illegally collected payments on mortgages they fraudulently declared in default, according to a False Claims Act suit made available Tuesday.Originally filed under seal in September 2014, plaintiffs Mr. and Mrs. Schiano claim the companies diverted a payoff they had made for refinancing their home and told the loan’s owner, government sponsored entity Freddie Mac, that the pair had defaulted...