Powell v. Ocwen Financial Corporation
Case Number:
23-999
Court:
Nature of Suit:
3791 LABOR LAWS-Retirement Act 1974
Companies
Sectors & Industries:
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March 26, 2026
2nd Circ. Reopens Mortgage-Backed Securities ERISA Suit
The Second Circuit on Thursday revived a federal benefits lawsuit against Wells Fargo and Ocwen accusing the companies of mishandling home loans tied to a union pension fund's investments, overturning a lower court ruling that handed the bank and loan servicing companies a pretrial win in the proposed class action.
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September 05, 2024
2nd Circ. Chilly To Mortgage-Backed Securities ERISA Suit
The Second Circuit appeared unlikely Thursday to revive a union pension fund's suit looking to hold Wells Fargo and Ocwen Financial Corp. liable for losses on mortgage-backed securities, with two judges signaling the risky loans the fund sued over might not be covered by federal benefits law.