Two unsettling incidents since OCWEN bought my mortgage from another company.
1) OCWEN required proof of insurance when they purchased the mortgage. I provided that.
Then months later I received a notice that they did not receive proof of HAZARD insurance and that my monthly mortgage payment was being increased to cover the shortfall in my TAX escrow account which they accessed to pay the premium for theis HAZRD policy.
It runs out that the HAZARD insurance is something that the condominium association carries. I then provided proof of this to OCWEN. Mind you, I spoke to three different departments trying to piece this all together.
I never received a reversal of funds that were overpaid. No one would do that. Every agent said that it did not matter if I spoke to a supervisor, the reply would be the same.
2)In June I enrolled in the accelerated payment program(which I thought was through OCWEN as the information came with the OCWEN name on it).
The regular June payment which was on an ACH automatic pay, had to be taken even though the program for the bi-weekly payments would begin June 15th.
As I had done this type of accelerated pay program with another mortgage lender in the past, I assumed that once the b-weekly payments started the regular payment would be stopped internally.
Well, last week I saw a pending payment that would be my regular mortgage payment post to my checking account. I IMMEDIATELY called OCWEN and stated my concern. I was told that it was my reponsibility to cancell the automatic regular payment; that the accelerator program was a separate company.
I was then told to provide proof of that regular payment; even though OCWEN's automated system announced to me that the payment had been received. Further, that the "Research Department", to which I faxed a copy of my bank statement with the payment amount showing, would take 15 days to investigate the matter and decide whether a reversal was possible.
After three days and multiple phone calls, I thought of calling the accelerated payment program(it took the OCWEN agent 10 minutes to retrieve this contact number for me). I inquired about suspending the next payment which is coming out of my account in two more days. Unfortunately, they require two business days to make that happen.
Had the OCWEN agent suggested that I call the accelerated payment program directly when I first contacted them, I could have at least helped my current cash flow problem.
So, OCWEN has any extra payment, an extra $200, and it's my fault.
I did not ask for this mortgage to be sold. I have not had such problems in the past with the previous company.