11th Circuit Panel Sends Res Judicata Ruling In CFPB Suit Back To District Court

Mealey's (April 8, 2022, 1:41 PM EDT) -- ATLANTA — A federal district court erred in granting summary judgment in favor of mortgage loan servicer Ocwen Financial Corp. and several of its affiliates in a Consumer Financial Protection Bureau (CFPB) lawsuit over the defendants’ mortgage-servicing practices based on res judicata because the court improperly determined that the CFPB’s 2013 complaint controlled and not the subsequent settlement agreement memorialized in a consent agreement reached between the parties, an 11th Circuit U.S. Court of Appeals panel ruled April 6 in vacating and remanding....