ED Magedson – Founder
Ocwen1661 Worthington Rd. West Palm Beach, Florida USA
Ocwen Loan Servicing, Ocwen Mortgage, Ocwen India, Ocwen ltd., Ocwen Financial Ocwen is ripping people off. Ocwen is horrible. Ocwen should be sued. West Palm Beach Florida
Where to begin? Ocwen acquired our loan from Indymc in August 2013, and the problems were soon to follow. We have paid IndyMac on time for over 9 years. We have always paid by using bill pay from our bank, direct to their account. The first month went fine, and we then received a notice that our payment would be increasing because there wouldn't be enough in the escrow account to pay thetaxes and insurance.
Looking at the statement, they had made a mathmatical error by over-stating the taxes and by listing the insurance twice. We immediately called and were told to write a letter, which we did and sent it out to them, while also enclosing the tax statements coming due. We were then told they never received our documentation and to resend all the pages. Along with now we are into November and our payment was made on November 1st., we received a letter dated Nov. 7th., that they never received our payment. They received the first two (Sept-Oct) no problem, but all of a sudden we have issues.
I can see where this is going. They will try and grab more escrow, try and hide-misplace the payments they recieve. All so that they can increase their cash deposits, by charging unwarranted late-fees. Placing families under stress and possibly taking their homes away.
I'm not in a situation to refinance but I sure wish I was becauinsee the direction this relationship is headed. I really wish someone would pick up the ball and file a class-action against this company. I recently did research and found the Consumer Affairsbse where all the stories are the same about OCWEN being a lawless operation. their BBB rating is an "F", and no one can do anything, and there seems to be no protections for consumers who had their loans sold to this company. We need to take them down.
All of their customer service is done in India so you aren't speaking with anyone who can help you. All thay do is say they are sorry and will make a note. Meanwhile, the next day someone is calling you again to say that your payment hasn't been received. You again explain the situtation and again, the same thing. I am sure we will see a late fee for the payment they claim to never have received. I am no longer paying electronically. I will be paying by check.
DON'T do any business with this company. They are a SCAM, and will place you in harms way while they chase the all mighty dollar.
This report was posted on Ripoff Report on 11/15/2013 09:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen/West-Palm-Beach-Florida-33409/Ocwen-Loan-Servicing-Ocwen-Mortgage-Ocwen-India-Ocwen-ltd-Ocwen-Financial-Ocwen-is-ri-1099523. 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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