CARSON CITY, Nev. (AP) -- Some Nevada homebuyers will see mortgage relief through a national settlement announced with Ocwen Financial Corp.
State Attorney General Catherine Cortez Masto says the Atlanta-based loan mortgage servicer will provide about $32.7 million in principal reduction for Nevada borrowers.
The deal was announced Thursday by the Consumer Financial Protection Bureau and 49 state attorneys general.
Regulators said Ocwen pushed borrowers into foreclosure through illegal actions, such as failing to promptly and accurately credit mortgage payments.
Consumers with valid claims also may be eligible for a cash payment, expected to exceed $1,000.