Ocwen, Assurant to pay $140 million to settle force-placed insurance suit

Ocwen Financial and Assurant agreed to pay $140 million to settle a massive class-action lawsuit, which accused Ocwen of artificially inflating the cost of force-placed insurance in exchange for kickbacks from Assurant. The settlement agreement, which is awaiting final approval from federal court in Florida, resolves claims of 399,843 homeowners who allege they were overcharged for insurance.