Ocwen Federal Bank ripoff Unrealist, Unethical and can't be legal! Orlando Florida

I can begin to understand the frustration of those trying to contact the OTS, but it can be done.

After a ridiculous "ring around the rosy" series of e-mails, voice mails, missed calls, holidays (both scheduled and unscheduled) and weekend breaks, I finally made contact with a real live person at the OTS!

(In all fairness, some of the delays were my own fault. Life sometimes interferes.)

For those trying to reach the OTS via the 800 number without success, my advice is to send an e-mail to the complaint department at the OTS:

consumer.complaint@ots.treas.gov

You will get a response and most likely the name of a real person and a direct phone number to that person, so be sure you reference the Supervisory agreement so your contact is aware of your issue. The representative may even offer to call you, as this one did.

The conversation was both disappointing and enlightening at the same time. I got the standard "We are not allowed to discuss specifics. Please access the TSR reports, the 10K reports, and Fitch."

(Fitch??? Mwahahaha! The "servicers' w***e"? I think not, but....)

I did ask some general questions and got some good answers.

Section 9. SERVICE PROVIDERS:OUTSOURCING. The responsibilities agreed to in this
Agreement on by the Bank and its institution-affiliated parties are applicable to the Bank's
service providers in connection with their services performed on behalf of the Bank. The
outsourcing of activities by the Bank to service providers shall in no way relieve the Bank of its responsibilities under this Agreement.

If any affiliate of Ocwen is servicing for Ocwen FSB, it is bound by this agreement.

The OTS is auditing this agreement and Ocwen FSB as an ongoing effort.

Most informative was realizing that the OTS is aware of many of the poor servicing practices used by Ocwen. The representative I spoke with actually named some things I have seen over and over in these reports: notably, putting payments into suspense accounts without notification, leaving the borrower to believe that the payment has been applied to their loan, and returning payments with no explanations enclosed. Both are considered violations of best practices.

My best advice is this...contact the ombudsman at Ocwen first, keeping detailed records of your contacts. Write down names, dates, times and conversation pertinent to your problem if doing this by phone. Follow up with written letters always and address them to the attention of the ombudsman.

If you cannot resolve your issue there, send that complaint e-mail to the OTS at the address above in order to get the name of someone to contact. Describe your issue and inability to get it resolved through Ocwen and ask to send documentation in writing to the attention of that representative at the OTS.

Then do just that.

Keep in mind that the OTS is as bound by this agreement as Ocwen and is obliged to follow up on your complaint.

The problem lies in whether or not the OTS is still willing to blindly and passively believe in Ocwen's innocence in all things.

This particular OTS representative led me to think that the "protective wall" has some cracks in it now and the OTS is more aware than it would even like to be.

The system is far from perfect, but we will all have to work with what we have at any given time. Use this tool to your advantage.

There was one statement made by the OTS rep that really got my attention: "Using bad servicing practices to create forecloses is not socially acceptable".

I am in total agreement.

Those of you "burned" before this agreement came into being can and should contact Kweku Hanson to see about joining the ongoing lawsuit. Contact info:

Mr. Kweku Hanson
487 Main Street, Suite #2
Hartford, Connecticut 06103 leagltek@mindspring.com

Hope this will help someone and good luck.

Robin,

I think I may have some interesting information about Ocwen's Fort Lee, NJ connection. When Ocwen bought my mortgage from HUD back in 1996, all the papwerwork came from Fort Lee, NJ, and that's also where my payments were originally sent to until it was changed to Orlando, and now Los Angeles.

From what I've been able to find out, Ocwen's Articles of Incorporation are in New Jersey. That is where their charter is. When I called the OAG here in Illinois, they tell me that Ocwen is a New Jersey based bank, NOT Florida. The Florida offices are "service centers". Their "legal" address is:

Ocwen Federal Bank FSB
2400 Lemoine Ave.
Fort Lee, NJ 07024
201-944-1637

If you have any luck of contact with the OTS, I would love to hear about it. I've tried, to no avail.

To the Victim in Phoenix.

I think I can solve the mystery of the interest arrearages. I filed for HUD assignment back in 1993 when my area was involved in the floods as I had lost my job and fallen 2 months behind. My lender, a "regular" finicial institution, was looking at foreclosure.

It took HUD 6 months to approve my application for assignment, which already put me 6 months in arrears. BUT, the biggest shock came when I got my first statement from HUD at the end of 1994. HUD was applying funds from my payments to the principal and property taxes ONLY. What would have been the interest portion of the funds went to "administrative costs". By the time my mortgage was sold to Ocwen 2 years later, I had close to $12,000 in arrearages due to the interest not being paid.

This is something HUD never tells anyone when they go into HUD assignment. Suddenly, my loan that was only 2 months in arrears (that HUD assignment was supposed to help with), is now "sub-prime" and sold off to a predator like Ocwen because of the arrearages caused by HUD themselves. This time I did I have to file for bankruptcy to keep from loosing my house.

Since I live so close to Chicago, I would love to go to court and stand up for all those that can't be present.

It's time to start applying pressure on those in high places to file criminal charges against the scumbags that have been running Ocwen for so so many years without any resisdence at all. It's time to take action any way possible to get their attention and keep it. We shall show the truth to all those who have doubted and mistreated us without cause. With all the help of our honest and brave Mr. Hanson, Rip-off Report, Robin, and so many others we shall put them in there place, behind bars and back under the rocks from which they have climbed.

All of you are right.

Never, ever trust Ocwen or the OTS. They have been too slippery in the past.

BUT, this agreement, used in the correct manner and with competent advice, may be a powerful weapon.

Or it could have no more bang than a dud firecracker. I do not know if it has been put to the test yet.

The first thing I would do would be to write letters to both the OTS and Ocwen outlining my problems and referencing the agreement the entire time.

If your problem is with forced-placed insurance, reference Section 4, which deals with that issue. Continue in this manner with any other problems until you know you have convinced both Ocwen and the OTS that you are aware of this agreement and understand it.

(I have a sinking feeling that any person who seeks help without doing this will be swept under the rug, as always. If you don't know, I don't think they will tell.)

This agreement is signed by Robert Albanese and William Erbey. Failure to comply by either organization might open up a nasty can of worms for them, even on a personal level.

If you do not get action, get an attorney!

Ocwen loves to yak on about how the "deadbeat borrowers" signed a legally-binding contract with a lender, yadda, yadda...OTS loves to elude the problem.

Now these deadbeat organizations have done the same; they have signed an agreement.

Hold them to it as ruthlessly as they do you! Give them no quarter and ram it down their throats at every opportunity.

Call the ombudsmen several times a day at each organization. Write massive amounts of materials reminding them of their obligations to take care of these matters.

One caveat: This agreement covers Ocwen Federal Savings Bank in Fort Lee, NJ. I have looked for victims that are having their loans serviced by this bank. I have not found any.

I strongly suspect that all the loan servicing is being done by Ocwen Financial in Florida, which may or may not be covered by this agreement. The obscure language in the agreement is not clear on this point.

Queries to the OTS asking point-blank which of Ocwen's affiliates and subsidiaries are bound by this agreement have not received so much as a courtesy "bot" reply, and I have sent the inquiries for the past two business days.

Today, I will call the OTS and see what intrinsic value this agreement truly has within it. Somebody is going to answer some questions TODAY!

Even if Ocwen were to go by this agreement with the OTS, how is that going to help us that have already lost our homes?

I called the OTS about a year and 1/2 ago and they told me to sit tight and they would not let me lose my home of 18 years. In the meantime they asked me to send them proof of all my payments and any other documents. I did this religiously and made copies of everything I sent them.

For the first time I felt like someone was helping me and on my side. Mr.David Rollins(Consumer Affairs) even gave me his phone number in case I had to get a hold of him immediately. He also told me he would not let Ocwen take my home.

March 5,2003 the constable knocked on my door and told me I had 15 minutes to get out. I think all I did was help Mr. Rollins and the OTS to get more info to help Ocwen rather rhan help me. Since then I have never been able to get a hold of Mr. Rollins and my family is homeless.

I think about all that equity, I think about all the days we starved just to make a house payment, I think about all the holidays and all the crisises and all the good times in our home. And now I think about how they just took that all away from us and left me with nothing to start over with. I have never loathed anyone or anything like I do them.

They are a polithera of class actions against these , in my opinion, crimminal organizations throughout the US. Mr. Hanson is an Attorney who has been fighting these greedy bastards for quite sometime now with very little help. In my opinion he is a good man who is truely seeking justice in this case. Not just for himself, but for all involved. The defendents in this case have no respect for the law, as I see it. and need to be put away for a very long time. The amount of restitution that it would take help all the people that they have destroyed due to there unlawful actions and fraudulant scheme is more that they could ever emagine. No person of family should be treated in the way that Ocwen and it's cronies have treated so many honest hard working americans in the name of "subprime Lending". Bill and his staff should receive the same level of scrutiny as the other terrorists that extort money from honest people.


P.S. For the OTS "Too little to late. When are you going to open your eyes and stop playing games and do your job.

Victim,

Ocwen and the OTS entered into a Supervisory Agreement on April 19, 2004(OTS docket No. 04592) in which Ocwen promises to never engage in unethical, immoral, and downright illegal behavior toward borrowers ever again.

You know, all that behavior it claimed in the courtroom in Hartford that it never dabbled in to begin with.

The OTS in turn seems to be promising to ensure that Ocwen toes the line in that regard.

Pardon me if I sound jaded, skeptical, and just plain sick and tired of all the hoopla. Having been a follower of the Ocwen Circus for some time now, I trust them not at all. Nor do I trust the OTS until they are put to the test and have passed it.

So, please invoke this sacred Agreement and see if the OTS upholds its duties. See if Ocwen knows how to operate in an honest manner (Ocwen might be a bit afraid of setting precedent by admitting that it can operate professionally, so I imagine this test will make Ocwen wildly uncomfortable).

Please attempt this and follow it with vigor. Hold the feet of the OTS and the feet of Ocwen to the fire until they yell. Tighten the thumbscrews if you have to. Give then a real acid test.

Let Ocwen and the OTS know that the citizens of this country will no longer accept lip-service to ideals, but now expect action!

(Sorry, been awhile since I ranted about this horrible company in this forum and I got a little carried away.)

The Agreement can be read on the OTS site at this url:

http://164.109.25.59/docs/93606.pdf

And please return here and let us know if you receive the fair and ethical treatment this document promises.

Good luck!

Your story is exactly the same as mine...word for word. The only difference is that they took my home(of 18 years)and put my family on the street. We are now "sharing" a residence with this women that took us in. Is there anymore news on the proceedings? Is there anything else we can do?