I have two mortgages that were taken over by Ocwen Loan Servicing. I set both of them up for automatic ACH withdral. Both loans are ARMS and one of them just adjusted so my July payment was going to go up by about $80. I looked at my bank statement and saw that one of the loans was paid on the 10th of the month but the other was not. So today I thought I should call them to find out why the ACH didn't happen. After dealing with their phone system for about 5 minutes, I finally got a representative and asked why the payment didn't go thru. She had to put me on hold and then came back to me to explain that because the payment changed due to the ARM readjustment, the ACH didn't happen. I asked if she could just have the system pull it out today and she said no but I could make a payment over the phone plus a $19 fee. I asked her if it didn't sound ludicrous that I've set myself up on ACH and then Ocwen's system fails and I have to pay a fee. She responded that their ACH system didn't know that the payment amount changed. I replied that Ocwen is the one that sent me the notice that my payment would change, how could they not know? Well, it's two different systems. So every six months, when there is a re-adjustment of my payment amount, I'm supposed to call to make a payment even though I have it set up on ACH. Yup, that's what I have to do. I asked to speak to a supervisor and he's busy now but will call me back before the end of the day.
To add insult to injury, I got a call about 30 minutes later from Ocwen trying to sell me another service. With such a display of incompetence, why would I buy more services from them - plus I had already asked them to stop calling me 2 weeks ago. Sounds like I need to reach out to my city's Banking regulation group to let them know. Sounds like predatory practices to me.