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  • Report: #842066

Complaint Review: Ocwen Loan Servicing

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  • Submitted: Mon, February 20, 2012
  • Updated: Wed, January 09, 2013

  • Reported By: Betty — Notasulga Alabama U.S.A.
Ocwen Loan Servicing
P. O. Box 6440 Carol Streem, Illinois United States of America

Ocwen Loan Servicing Trying to find out if Ocwen is tied to big five, i.e. Ally/GMAC, Bank of America, Citigroup, JP Morgan Chase and Wells Fargo Carol Streem, Illinois

*Consumer Comment: Betty,

*Consumer Comment: Betty,

*UPDATE EX-employee responds: National Mortgage Settlement - Joseph Smith

*Consumer Comment: Servicer may change, but Investor will remain the same throughout life od loan

*Consumer Comment: Betty,

*Consumer Comment: FANNIE POEM......

*Consumer Comment: fannie mae

*Consumer Comment: Betty, Feel free to 'Google' this- OCWEN- WIKIPEDIA, and...

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i was unfortunate enough to get a subprime loan back in 2003 from Home Loans, B'Ham,. AL.  I have been sold on several occasions by other mortgage companies finally winding up with Ocwen. Now that the top five have settled with the Feds, I am trying to see if I can tie Ocwen to them in some way. The reason for this is that I need to get a refi based on the fact that I have a 9.04% mortgage and I am 70 years of age and do not feel I can retire with a mortgage that might adjust  to 15%.  I am filling out paperwork with the State of Alabama Attorney General's office in an effort to get something done.  My mortgage has been sold several times and was once with Countrywide.  I feel if I can tie Ocwen to them, I might have a chance at getting in on this settlement.  I have tried numerous times to get a refi to no avail.  I am always told that my investor will not allow it.  Also, I cannot even find out who the investor is.  What a travesty we have all been through.  This kind of thing should be highly prosecuted.

This report was posted on Ripoff Report on 02/20/2012 08:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Loan-Servicing/Carol-Streem-Illinois-60197-6440/Ocwen-Loan-Servicing-Trying-to-find-out-if-Ocwen-is-tied-to-big-five-ie-AllyGMAC-Ban-842066. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Betty,

AUTHOR: Karl - ()

I believe it is important that you spread your Ripoff Report all over the web at sites like Twitter and Facebook and expose these companies, because exposure is a corporation's worst fear. You can type in 284134 at this site and read what is posted in Consumer Comment #1 at Ripoff Report #284134. Here are two of the things that were stated in that consumer comment-

Quote: "Exposure is a corporation's worst fear." - November 13, 2007
Quote: "Events don't cause corporations to collapse. It's the OPINIONS of the events that trigger the collapse." - November 13, 2007

Ten months later, in September of 2008, Lehman Brothers collapsed, the stock market crashed, and the financial system in the USA and all over the world melted down. Several other large corporations were on the verge of collapsing including Fannie Mae, Freddie Mac, AIG, General Motors, and Chrysler.

Conclusion: The Harvard Business Professor was correct.
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#2 Consumer Comment

Betty,

AUTHOR: Karl - (USA)

If you would like to know why the USA is falling apart and why there will be another collapse of the system in the near future, simply 'Google' this- MELISSA WOODS BUSINESSWEEK, and go to the BusinessWeek link and click on 'View All 1001 Comments' and read what is stated in the comment on May 31, 2008 at 9:13 PM for the answer. (The comment is currently listed on 'Page 10'.)

FACT: Four months later, in September of 2008, the banking system collapsed and the stock market crashed. On September 29, 2008, the Dow Jones suffered its biggest one day loss of 777 points and the banking system in the USA collapsed. The American people were forced to bail-out the failed banking system and several Wall Street firms with hundreds of billions of dollars in taxpayer's money from the TARP.
You can 'Google' this- FRONTLINE: INSIDE THE MELTDOWN, and watch that documentary on the web for proof.

CONCLUSION: What was posted on May 31, 2008 at 9:13 PM is no longer a theory. It is a fact.

'fact' (definition) - A thing done as a crime.
Page 44, Webster's Ninth New Collegiate Dictionary

Happy New Year to you and your family!
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#3 UPDATE EX-employee responds

National Mortgage Settlement - Joseph Smith

AUTHOR: National Mortgage Settlement Linked - (United States of America)

Go to LinkedIn, it's free and the NMS group is public. The government's Monitor is sponsoring a working session and this is what he wants to hear, so he can help. LinkedIn is simple - don't worry about the hundred profile questions, skip to the end and just add your email and contact info.

Good luck,
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#4 Consumer Comment

Servicer may change, but Investor will remain the same throughout life od loan

AUTHOR: BuyerBeware - (United States of America)

I work for one of the big 5... While Ocwen is your servicer, your servicer can change numerous times throughout the life of your loan. The investor should always be the same throughout the life of the loan. If you call your servicer, they should be able to easily tell you who the investor is (or at least I can at my job).

As far as connecting Ocwen to one of the big 5: they are a smaller servicer, but may be connected to one of the bigger companies. For instance, Wells Fargo may be the Trustee on your loan. Maybe they do not service your loan, but technically their name may be on you mortgage ("As Trustee"). The Trustee is different from the investor, however.

If you want to know who the investor is for your loan, try calling your servicer, and they should be able to tell you if the investor is FNMA, FHLMC, GMAC, etc.
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#5 Consumer Comment

Betty,

AUTHOR: Karl - (USA)

It appears that the majority of the banking system in the USA is out to scam as many innocent and unsuspecting Americans as possible in order to make profits, according to information that is available on the web.

Feel free to 'Google' the following eight videos and documentaries and watch them on the web for proof-

1) RON PAUL'S BROTHER ON FEDERAL RESERVE SYSTEM
2) FRONTLINE: MONEY, POWER AND WALL STREET
3) FRONTLINE: THE WARNING
4) FRONTLINE: INSIDE THE MELTDOWN
5) WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO
6) FULL SHOW: HOW BIG BANKS ARE REWRITING THE RULES OF OUR ECONOMY
7) FRONTLINE: THE CARD GAME
8) MUNGER: CUT BANKING SECTOR 80%

Happy Holidays!
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#6 Consumer Comment

FANNIE POEM......

AUTHOR: Karl - (USA)

is available at this website.

Just type in 502469 at this site and it appears as 'Consumer Comment #6' at Ripoff Report #502469.

Thank You

WELCOME TO AMERICA- OUR GOVERNMENT IS BEING CONTROLLED BY A CARTEL OF CORRUPT, GREEDY, AND INEPT BANKERS WHO ALSO CONTROL WALL STREET, THE MAINSTREAM MEDIA, AND MUCH OF THE LEGAL SYSTEM AND THESE BANKERS ARE OBVIOUSLY MANIPULATING THE PRICE OF OIL AGAIN, JUST AS THEY WERE DOING IN 2008 PRIOR TO THE MELTDOWN OF THE BANKING SYSTEM AND THE STOCK MARKET CRASH, WHICH TOOK PLACE IN SEPTEMBER OF 2008
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#7 Consumer Comment

fannie mae

AUTHOR: Daniel - (U.S.A.)

go to their web site and look up your loan  theres an area to enter info  if not them then check freddy mac 
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#8 Consumer Comment

Betty, Feel free to 'Google' this- OCWEN- WIKIPEDIA, and...

AUTHOR: Karl - (USA)

go to that site to learn more about them.

It appears that Ocwen purchased Litton Loan Servicing from Goldman Sachs in 2011. Ocwen also purchased Saxon Mortgage Services from Morgan Stanley in 2011, according to the information at the Wikipedia site.

Feel free to stay at this site and type in the following and read the Ripoff Reports from people all over America for important information-

GOLDMAN SACHS
MORGAN STANLEY
LITTON
SAXON
OCWEN

P.S. If you want to know why oil prices have been rising dramatically in the past few weeks, simply 'Google' this- DID SPECULATION FUEL OIL PRICE SWINGS, and watch that 60 Minutes segment on the web. (Goldman Sachs and Morgan Stanley were two of the banks named in that video.)
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