ED Magedson – Founder
Ocwen Loan Servicing, LLCPalm Beach Boulevard, FL Carol Stream, Illinois USA
Ocwen Loan Servicing, LLC, Morgan Stanley Investment Bank, Ocwen Will Stoop To Any Level of Crimanality to Make a Buck Carol Stream Illinois
Ocwen took over servicing my mortgage loan in 2012 and I've paid ever since.
This company will try anything to make more money off my account while proactively working to keep me from qualifying for refinance.
In July 2012 they received my payment as they had directed. I paid with money order and cashiers check as instructed by Ocwen and they held the payment in a suspense account for several months, reporting me as delinquent on my credit report. I've worked with this company on at least 4 occassions to repair their "mistake" but the "mistake" keeps occurring. Delinquencies on my credit report keep appearing to prevent me from re-fiinancing my loan which I am trying to do now.
Additionally, Ocwen added fees arbitrarily and increased the interest rate they charged me on the loan by one full percentage point - without my knowledge or notification. I realized it when looking over my statement, which I do very carefully each month now that I know what an awful company they are. They did return loan to original interest rate after I disputed their right to do so. But the point is... this company practices criminal conduct as a regular part of their business plan. Beware, leave asap. I hope there is a class action lawsuit, I'd love to be party to it. This company is despicable, I'd be embarressed to work for it.
This report was posted on Ripoff Report on 09/29/2013 11:36 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Loan-Servicing-LLC/Carol-Stream-Illinois-60197-6440/Ocwen-Loan-Servicing-LLC-Morgan-Stanley-Investment-Bank-Ocwen-Will-Stoop-To-Any-Level-1088141. 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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