Oaktree Capital Management cashed in during the U.S. housing crisis, buying up distressed assets at bargain prices. But critics say the holders of Oaktree’s mortgages are suffering because the Los Angeles-based investment firm misused a federal program to buy up the properties.

One of those people, a 64-year-old nurse from the Cylburn neighborhood in Park Heights, stood in City Hall yesterday alongside of several City Council members and union and community allies.

When Sandra Cohen’s income plummeted after the private duty patient she cared for died in 2009, she tried unsuccessfully to get the Bank of America to modify her loan. Cohen said she was thrilled when Oaktree’s servicer, Selene Finance, bought the loan, lowering her payments to $800 a month.

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