No Surprise: Ocwen & US Bank Hit by $3.8 Million Verdict in Chicago Federal Trial For Violations in Fake Foreclosure

“The jury, after deliberating for approximately 7 hours, determined that Ocwen breached its contract, violated RESPA for failing to adequately respond to Saccameno’s Qualified Written Request, violated the FDCPA and committed both unfair and deceptive acts in violation of the Illinois Consumer Fraud Act.  Monette Saccameno was awarded $500,000.00 in compensatory damages, $70,000.00 in non-economic damages, $12,000.00 in economic damages and $3,000,000.00 in punitive damages. Nicholas Heath Wooten, Esq.Ross Michael Zambon, Esq., and Mohammed Omar Badwan, Esq. led the litigation team on behalf of Saccameno.”

And I ask again: WHY DO OCWEN DOCUMENTS AND “BOARDING PROCESS” GET ANY LEGAL PRESUMPTION ON SCANT TESTIMONY AND EVIDENCE THAT WOULD NOT BE ACCEPTED AS FOUNDATION IN ANY COURT OTHER THAN ONE IN FORECLOSURE PROCEEDINGS? With this verdict and dozens of other verdicts, settlements, lawsuits and whistleblower  news stories has establishing a crystal clear pattern of conduct of fake foreclosures based upon false documentation, false posting of payments and a clear mission to seek foreclosure whether the homeowner is current in payments or not.

The many cases akin to this one against OCwen and US Bank should be served up to judges hearing foreclosure cases with a single message: the foreclosures you are allowing are wrongful. Your decisions are giving rise to many lawsuits for damages.

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THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

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Hat Tip Greg da’ Goose

Case Number: 1:16-cv-05278
Court: Illinois Northern
Nature of Suit: 423(Bankruptcy Withdrawl)
Companies:
Ocwen Financial Corporation
U.S. Bancorp

see OCWEN BANGED WITH $3.8 MILLION VERDICT

This case shows that juries are still angry about the 2008 meltdown and that the entire burden was shifted to homeowners and taxpayers — who “bailed out” financial institutions that had no losses.

And it also shows that lawyers can get rich by charging contingency fees in wrongful foreclosure actions that most lawyers avoid or rush to settlement. It provides ample encouragement for homeowners to sue and for lawyers to take the cases.

So for those of you who are  contemplating filing a wrongful foreclosure action against Ocwen, or U.S. Bank or any of the other players that are acting in concert with Ocwen, here is a case that no doubt will be settled under “seal of confidentiality” (like thousands of others). I think it is high time for borrowers to pool their complaints in either a class action or mass joinder action.

And here are some of the causes of action that could be filed that a federal jury found were reasons enough to award $500,000 in compensatory damages and $3 Million in punitive damages:

  1. Breach of contract
  2. RESPA violation (failure to respond to QWR)
  3. FDCPA violations
  4. Violation of state law — Illinois Consumer Fraud Act: Unfair and deceptive acts.

There are many other causes of action that could be filed. Each case needs to be evaluated as to which causes of action are most appropriate for the subject “loan”, most of which have resulted in substantial verdicts.

And don’t forget the role of US Bank whose name is used as trustee of a trust that  either doesn’t exist, doesn’t own the debt or both. US Bank is paid a fee to pose as trustee not to BE trustee.

See also

https://www.prnewswire.com/news-releases/atlas-consumer-law-secures-3-582-000-jury-verdict-obtained-by-monette-saccameno-a-resident-of-cook-county-illinois-and-against-ocwen-loan-servicing-llc-a-national-mortgage-loan-servicer-300628541.html

https://cookcountyrecord.com/stories/511388869-jury-awards-3-5m-to-woman-who-claimed-loan-servicer-mishandled-mortgage-during-after-chapt-13-bankruptcy

Ocwen (OCN) Receives Daily News Sentiment Rating of 0.15
https://www.thelincolnianonline.com/2018/04/13/ocwen-ocn-receives-daily-news-sentiment-rating-of-0-15.html

https://www.leagle.com/decision/infdco20180410901

Saccameno v. Ocwen Loan Servicing, LLC et al, No. 1:2015cv01164 – Document 265 (N.D. Ill. 2018)
DEFENDANTS’ MOTION FOR JUDGMENT AS A MATTER OF LAW Document #: 265 Filed: 04/09/18
https://www.gpo.gov/fdsys/pkg/USCOURTS-ilnd-1_15-cv-01164/pdf/USCOURTS-ilnd-1_15-cv-01164-3.pdf

Saccameno v. Ocwen Loan Servicing, LLC et al, No. 1:2015cv01164 – Document 231 (N.D. Ill. 2018)
MEMORANDUM Opinion and Order Signed by the Honorable Joan B. Gottschall on 3/9/2018
https://cases.justia.com/federal/district-courts/illinois/ilndce/1:2015cv01164/306387/231/0.pdf?ts=1520678019

Saccameno v. Ocwen Loan Servicing, LLC et al, No. 1:2015cv01164 – Document 152 (N.D. Ill. 2017)
MEMORANDUM Opinion and Order Signed by the Honorable Joan B. Gottschall on 11/8/2017
https://cases.justia.com/federal/district-courts/illinois/ilndce/1:2015cv01164/306387/152/0.pdf?ts=1517249686

Saccameno v. Ocwen Loan Servicing, LLC et al, No. 1:2015cv01164 – Document 75 (N.D. Ill. 2015)
MEMORANDUM Opinion and Order Signed by the Honorable Joan B. Gottschall on 11/19/2015
https://cases.justia.com/federal/district-courts/illinois/ilndce/1:2015cv01164/306387/75/0.pdf?ts=1448015323

US Government Publishing Office
15-1164 – Saccameno v. Ocwen Loan Servicing, LLC et al
https://www.gpo.gov/fdsys/granule/USCOURTS-ilnd-1_15-cv-01164/USCOURTS-ilnd-1_15-cv-01164-0

23 Responses

  1. Ian — who did they claim is the “holder” for the xxxx Trust? Ocwen? Option One? AHMSI? SPS?

    Like

  2. Congratulation Ian luckily u found decend lawyer Nick Wooten

    Like

  3. Oops, sorry I didn’t edit out the spellcheck changes. It’s annoying to have to do this all the time.

    Like

  4. Aah, Ocwen getting hit with some fraud charges is a good thing- when they filed against me through their law firm, Moss, Chili’s, Swaroski(sp), using vivid numbers and a broken chain of title evident in the courthouse instrument summary list, I couldn’t find an attorney who had ever heard of a mortgage-backed security, or who had ever thought that a “bank” as they kept referring to Ocwen as, would ever attempt to defraud a borrower. Luckily I was able to pay off their bloated claim, at which point they (Ocwen) passed the mortgage servicing rights to Option One, who later passed it to AHMSI,who later passed it to SPS, who have informed me in writing that the “investor” is xxxxxx, a non-existent “Trust” as it turns out.
    Well there is still hope, thanks to lawyers like Nick Wooten. Ain’t life grand!

    Like

  5. OK –
    if you click on your underlined screen name “Papergate” on this blog you will see that is how you registered yourself here and it take one to nowhere… – just a factual observation..
    hugs
    gg

    Liked by 1 person

  6. Never had a wordpress.com webpage thanks though

    Like

  7. Papergate
    just so you know, your link to papergate.wordpress.com dead ends and has no web page anymore…
    greg/boots

    Like

  8. @neidermeyer – these real McCoy case docs should be helpful!

    Like

  9. Sending docs on flash drives in mail. Thanks for offer!

    Like

  10. Papergate

    Because the files will be huge in size, if you don’t already have one, i volunteer to host a Google Drive with your Zip file of all the case docs that people who donate $25 for access can then download (of course, after you indicate donation has been received). It will be much larger than what email allows.

    best!
    CementBoots

    Like

  11. @ papergate ,, I’ll take a set.. about to go NUCLEAR on OCWEN this June/July $25 is a bargain… sending you an email ..

    Liked by 1 person

  12. @Kalifornia: will let you know when file is ready – send note papergate @ aol.com for details. Thanks!

    Like

  13. Nick Wooten is a great attorney. He was one of the first to face off against the big banks. I hated it when he moved away from Alabama but understand he needed to go where he could have the biggest impact in fighting fraud. Good luck Mr. Wooten, keep fighting the good fight.

    Like

  14. Reblogged this on Deadly Clear.

    Like

  15. Congratulation Monte u r lucky w yr lawyer! & her honrable Joan! Wish all the foreclosure victim all over get justice

    Like

  16. @ Papergate

    $25.00 is standing by for delivery.

    Liked by 2 people

  17. thanks papergate!

    Like

  18. We’re not DONE yet (not down).

    Liked by 1 person

  19. This is a really important case to study folks – we are compiling all the documents from 1st CMP to last entry – 277 docs – if anyone wants copies of the entire file – (no repeat or immaterial docs) reply by making a comment – we are asking $25 per request; the costs are now way over $300 and we’re not down – the documents are valuable lessons . . . including Ocwen’s own reports about ‘damages’ claimed and how Ocwen tries to destroy issues of damages – new tactics of diminishing homeowner damage claims – learn now before you go into the weeds about damages . . . you can upload your own copies of the entire file but it takes hours and tedious strategy and will cost a lot.

    Another interesting study is the jury docs.

    Just saying…

    We have a copy of the entire file index if you want to review just ask.

    Liked by 1 person

  20. Now, this result has to spread over all the courts in the U.S. Ten years of wrongful foreclosures is a crime against humanity.

    Liked by 1 person

  21. here’s the final order/judgment!

    https://www.courtlistener.com/recap/gov.uscourts.ilnd.306387/gov.uscourts.ilnd.306387.277.0.pdf

    JUDGMENT is hereby entered in favor of the plaintiff, Monette E. Saccameno and against defendants, Ocwen Loan Servicing, LLC and U.S. Bank National Association on Count I and against defendant, Ocwen Loan Servicing, LLC on Counts II and IV. Plaintiff is awarded actual damages on Counts I, II and IV in the amount of $500,000; in favor of the plaintiff, Monette E. Saccameno and against defendants, Ocwen Loan Servicing, LLC and U.S. Bank National Association on Count III in the amount of $12,000 for economic loss and $70,000 for non-economic loss. Plaintiff is awarded punitive damages in the amount of $3,000,000. Post-judgment interest accrues on the amount of the judgment at the rate provided by law from the date of this judgment. Plaintiff shall recover costs from defendants. Civil case terminated. Signed by the Honorable Joan B. Gottschall on 4/13/2018. Mailed notice(mjc, ) (Entered: 04/13/2018)

    Liked by 1 person

  22. $3.8 Million for a fine is a JOKE on ALL Levels! What that shows is that NOBODY took this seriously! Ocwen has been trying to steal MY home for years! ALL Federal organizations as well as The Federal Court in my class action have all ignored the facts! They have ALLOWED Ocwen to run amok! There is NO Justice inside the courts! That IS a fact! $3.8 billion would be correct! NOTHING Less! Anything in the teeny millions is a HUGE slap on the wrists! It’s NOTHING to these evil fraudsters!

    Liked by 4 people

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