OCWEN Federal Savings Bank FSB cashes checks, refuses to credit account ..Beware of getting a home loan with this outfit *EDitor's Comment

...my lawyer won a suit, that the jury decided the Consumer Protection law was VIOLATED BY OCWEN and their partner(one who serviced the loan for), Salomon Brothers, of Michigan.

I won in January of 2004. It is now one year later. Haven't seen a dime, and the most recent attorney hired by Ocwen whispered to me after court I NEVER WILL SEE MONEY.

Nor the home. The Ocwen attorney says since I am a 'poor credit risk" (gee, how did THAT happen?) that I 'would have lost the home anyhow' though I only owed about two or three years worth of payments on the home at the most!

But with the taxes always paid LATE by Ocwen, even when there was sufficient funds in my escrow account, and me footing all the 'fees' that were never accounted for... yes, the house is once again up for tax sale, though ordered by a bankruptcy judge to 'keep the taxes up.'

The attornies they hire seem to be for the sole purpose of AVOIDING. And they are good at that, paying out in excess of 100,000 dollars to avoid paying the 20,000 extra they defrauded me thru deception back oh so long ago, and holding back another 15,000 as a 'final offer'. The house could have barely been repaired for 36 grand, let alone 15!

So you see, money is no object, if you can bully your victims and drag them into court for years and years on end, having the city put your house on the 'tear down' list, and intimidate the other 98 percent into NOT suing and just giving up.

No wonder attornies didn't want the case. They know how these guys operate, and they know how to delay, because delays are to THEIR advantage... usually. Wonder if they can afford another 100,000 in legal fees.... I know my attorney is a bulldog when it comes to being screwed over, but...

Oh, and I DID complain to the Feds. They said, back in 1999, that the Ocwen PRESIDENT would be calling me.... I'm STILL WAITING! A female, claiming to be a 'vice president' asked in 2004, AFTER the lawsuit - 2nd one they lost by us by the way, "What does she want?" I told them. My house back, repaired, debt free, my lawyer paid, and I think that's a bargain, since we've had to suffer many years without our home that would have been paid off years ago.

I'm told that will never happen. Why bother with a court system if the guilty don't have to bring the victim back to their whole status before the fraud? If this was a person, wouldn't this 'person' be in jail for fraud and theft on a mass scale?

Ocwen gets NO fines, no bad publicity (they know how to bully and threaten), and they don't even have to give the money back they stole, or even pay for the damages resulting from it, because a judge seemed to delay and block any attempt to collect the money by letting the Ocwen attorney obtain MORE delays, more hearings, on a 'won' case.

The judge is retiring, after ruling my lawyer wasn't entitled to any pay even though the law for Consumer Protection DEMANDS a payment to the attorney.

The Ocwen attorney has an hourly rate he contracted as an independent, so he is motivated to spend time to delay the case,

Ocwen doesn't like to give up insurance money. They'd like YOU to repair it, and they pocket two thirds of the money! actually, they planned to take the house too knowing I didn't have enough to repair it once they MISREPRESENTED/hid nineteen grand of the repair money.

I'm glad someone thinks ocwen likes to treat her fair and square. Maybe because SHE doesn't HAVE any equity in her home. Yes, one of Ocwen's employees told me those of us with HIGH EQUITY, ie, most of our home paid for, are 'treated differently', meaning they want your house and your money for more profit, legal or not, and they have the money and the ability to hide from service (yes, they tried that too) better than any movie star has!

So, any Ocwen reps want to explain why they don't pay their bills... EVER ON TIME and BILL THEIR VICTIMS? Why they refuse to cooperate with the courts knowing how impotent some systems are? How they switch attornies and file appeal after appeal to show how 'tough' they can be?

How Ocwen can violate a court order and sell my house at auction in the year 2000 and buy it FOR THEMSELVES? When the Sheriff realized the 'mistake', the sale was voided. Ocwen claimed they 'never received service.' Then later claimed something else, though it's obvious they were SERVED PROPERLY AND LEGALLY. Another form of theft.

Ocwen, You've already hurt me as much as you POSSIBLY CAN financially, emotionally, etc. There's nothing left for you to threaten, Ocwen. Now I am at the bottom, and can ONLY GO UP.

Ocwen, You went too far with this, and the house and legal bills are a money pit, sucking out unlawfully gained profits. You should have given me the house. You should have not worked out a deal with the insurance company,...

Tri-Star (yes, I remember you Linda! You were on 'my side' and would get me 22 grand if I shut up instead of the 35 you knew you already promised OCWEN) Insurance, and ...how many different names does this 'insurance company' have? Why is Ocwen PROTECTING this insurance company? Giving them referrals of potential clients/victims?

The State of Michigan says they were 'not licensed to be in Michigan, having voluntarily given up their license in Michigan in 1995', but the insurance bureau of the state of Michigan did absolutely NOTHING. No investigation,... kicking to the Feds... who did absolutely NOTHING.

Maybe I can put the lawsuit in my will for my grandkids....

If you are planning to refinance with a new finance company be prepared for more cost to you from a dishonest, unethical company.

My loan was sold to the sister company of Ocwen which is apparently Wilshire Credit Corporation. They charged me $25 for a pay off balance, and then gave to different amounts due. When the finance company sent pay off, they held the check and did not notify either myself of the finace company they were not excepting payment and charged me interest on the whole amount with late fees and interest rate at 13.99%.

They were rude and gave me 3 different balances all within a 3 hour period. The balance increased with each call. refusing to give me a statement of account and all charges. Costing me over $700 dollars. I would be interested in joining class action lawsuit against both companies. Any help for me?

Melissa, there is hope. Kweku Hanson is attempting to get a class action lawsuit going. Many of us who have reported here are involved. You need to find an attorney to help you. It may cost a little, but a good attorney will help you through this mess.

I just received a reply from Moss, Codilis from a dispute I filed with Ocwen. They have given another amount of money that I owe as of a certain date.

I almost had my home refinanced, hopefully the new company is attempting to continue to work to get me the loan. We'll see. But see if you can get another company to refinance you.

I found out through this refinancing that my home is worth a little more than $20,000 more than when Ocwen took over my loan from MetWest. So they would make a little money off of this house if they foreclosed and sold.

Don't lose hope. We are all in this together and we will beat them for what they are doing to all of us.

I am sitting here reading (while crying, which i've been doing ever since dealing with Ocwen!)
the stories of all the other people who have been victimized by ocwen, and reading them out loud to my husband. Neither one of us know which way to turn or what to do. Ocwen took over our mortgage about 2 years ago from New Century.

Everything i have read happened to us too. They are saying we are 3 payments behind,we have all our cashed checks to show we are not! Our last payment we sent, they sent back to us saying it wasn't enough! We pay our own taxes, and we are being charged for taxes. They called today stating if we didn't have $2600 for them tomorrow,they are going to foreclose.

We are going around trying to borrow money from family, which is the last thing i ever wated to do. We are so distraught all i keep thinking of is our home being taken away, and my 3 children not having a place to sleep! How can they do this? I have a hard time sleeping,eating, and concentrating at work which is not good for a registered nurse to be doing!

I am so glad i found this web site i was starting
to think we were the only ones, i thought i was going crazy! Now if someone could give some kind of guidance,I would gladly sue this company any
day, for this torture they are putting me and my family through,just tell were to start! Thanks for
all the input your sight has given me, I'm glad there is someone who cares!

I am old and live on a fixed income(retired), this home was left to me when my parent died.

I received a home improvement load for $40,000 from Ocwen. I falled behind in my payment and the 13.95% interest rate has never allowed me to catch-up.

My overdue loan when to their legal office where they proceeded to foreclose on my home.

I when to a friend for assistance and after contacting the legal department by certified mail Ocwen Fed Bank contacted me and suggested a Forbearance plan, this plan was to allow me to catch-up my payments in a one year period.
under this plan my Monthly payment of $468.00 went up to $770.00.

After Completion of this plan, i was sent another letter stating that i need to apply for another Forbearnce plan or Ocwen would foreclose on my home.

July 2001: Enter 12 month Forbearance Plan; Payment of $468.68 when to $770.00.
June 2002: Request and received written confirmation that the plan was on time and would expire 8/1/02, payment would return to $468.68.
August 21, 2002: Recived letter from Ocwen stating that i owned them $5,493 in back payments and that i needed to applied for a FORBEARANCE PLAN.

i borrowed the money to pay them last year, i don't know what to do this year.
What's the plan ?????: i'm in.

I have appreciated your comments having had your identical problems and addional ones of my own with Ocwen. I am fighting them now with the FEDS. Check out RESPA laws. They are federal laws that govern the practices of title companies, mortgage companies, real estate companies, etc.

For example, they are required by law to post you payment in a timely fashion. They cannot change the terms of your original deed of trust and note.

They cannot take monies from you that you sent in towards your mortgage payment and use it for other purposes without notifying you. And if they do take monies, it cannot exceed 6% of your yearly escrow projection.

Fight them with the FEDS, I am. It takes time to download the complaint form and send it in, but if enough of us do it we can nail the B______s.

Look, I have been dealing with these nasty folks for some time. I am suing them. I'm being told that I should have done this, done that,... their habit of refusing to respond is their way to avoid the nasty lawsuits that follow when it is revealed that they pay the property taxes late, add fees they refuse to account for that prolong your indebtedness, cash checks and don't post them, misrepresent insurance amounts and fail to put the home owner's name on the policy so they can get a "sweetheart deal", etc. I've experienced it all in the short time they have handled my mortgage.



What about a class action suit, guys? I'm afraid to put my name on this because I know these folks are doing their best to intimidate me with their lawyers - three so far I've dealt with. LEts unite and put these folks out of the business of defrauding customers... Though I'm being offered a deal, it's not enough to make up for what they have done to my family and their home. It's not enough for the pain they have caused. They barely want to acknowledge the fact they withheld funds legally due!. Greedy creeps. Manipulative in nature, they know how to play phone tag... carefully word letters to appear they are complying when they clearly are not complying with the law. The state officials and federal officials find excuses to ignore the complaints!



A class action suit is the only way to stop them. Email me, and I'll talk to my attorney. Enough emails and we can request a class action suit with a bigger law firm over here. Let's try and stop them. It's too late for my kids... they have suffered a great deal as have I. Our life savings was in our home... Nothing can replace a childhood of shelters, cheap housing, numerous moves, and callous opportunists who only see the bottom line opportunity of lying, and lying, and misleading, etc. Yes, you Ocwen folks were called, and called, and called, and all you did was mislead, and HIDE. Then claim I never complained! Numerous certified letters meant nothing, absolutely nothing to Ocwen!



They don't want to hear from you. They have the power to make you homeless and poor and they profit from those who have much equity in their home.



If interested email:

OCWENclassaction@ripoffreport.com

In addition to all the hundreds of complaints we have received on Ocwen Bank in the form of Rip-off Reports, we also receive hundreds of e-mails daily asking for our help to fix this problem.



We have contacted Ocwen on many occasions to arrange a wholesale settlement and they have promised us numerous times that they would settle and they have reneged. They have also had their attorneys threaten us.



Having said that, they also try to post to each and every complaint with the following bogus and useless message:



-----------------------

"If you have a concern regarding the servicing of your loan,

E-mail Address: Customerrelations@ocwen.com



Toll Free Phone #: 1-800-804-5561

Mailing Address: Ocwen Federal Bank FSB,

Attention: Research Department, 12650

Ingenuity Drive, Orlando, FL 32826



We strive to provide each of our customers with the utmost in customer care and professionalism and are eager to address any issue or concern that you feel has not been appropriately addressed."

---------------------

We know that they reportedly have no intention of resolving these matters. Victims identify no answer on that phone line for several minutes and in some cases almost an hour. Additionally, other victims post that they have received no response to their correspondence after Rip-off Report posted their comments.



We cannot and as a matter of policy will not post these bogus memos at great expense to our time and resources.



EDitor's Staff

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www.ripoffreport.com



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Remember.

Don't let them get away with it!

Make sure they make the Rip-off Report.

More than 2 years ago, Ocwen bought my mortgage, and I have had nothing but trouble from them ever since. To start with, Ocwen changed my due date, from the 15th of the month to the 4th.



This meant that instead of being able to pay them out of my 2nd paycheck of the month, I needed to pay them out of my first paycheck. But with all my other bills due at the first of the month, I could not do this.



The only thing Ocwen would do for me is to inform me that I could do a speed pay over the phone, and my payment would be posted to my account within 1 business day. This option cost me an extra $5 a month if I used the pre-recorded speed-pay system, or an extra $10 a month if I talked to an actual person.



On months when my second paycheck fell between the 20th and the 27th days of the month, I had no choice but to paid the $32 late fee. Even though I paid via speed pay every month, I received over a hundred phone calls from Ocwen starting on the 5th of every month (at both work and home), demanding their money. When I pointed out to them that I paid around the 15th of the month via speed-pay, and ask that they not call me, I was informed that theirs was an automated dialing system and that that was just the way it worked.



The only way I was able to stop the hassling phone calls at work was to change jobs, and to refuse to give them my new work phone number.



This morning, in an attempt to talk to a living person, it took me over fifteen minutes to get through their massive phone system of pre-recorded messages. When I finally reached someone, he was cold to the point of being rude and did nothing to help resolve the issue. For those who think Ocwen is a "helpful" and "good" company, you are truly lucky.



As for me, I consider them the worst financial organization that I've ever had the great displeasure to deal with.

Donald, Posting of payments is not the only problem with this Co. Do you have an ARM (Adjustable Rate Mortgage)?



And do they go Up over 14% interest without notifying you. When interest rates are lower than they have been in years?



Do you pay youre Insurance&Taxes only to have them add Insurance to your Escrow @ an astronomical price,even after your Agent faxes them binders numerous times? I



s the correct amount being applied to your principle & not all to interest?Have you ever requested a statement to check these things only to be led through a telephone maze?



I advise you to refinance stat for the sake of you & your family. That is if they havent already ruined your credit while you thought you were getting excellant service.

You have only been with them a year. Give them time, they'll show you their true colors. I felt the same way for a while. EVERYTHING you read in these reports are unfortunantly very true. I wish you continuing good luck with these people.

This is just fantastic! The first and rare indeed! I wonder if it's a company spy! If your tellin the truth tells us a little about your loan. Like what type? How long whats your house worth and what did you pay? And most important, where are you from. You can be assured that we are not makeing up these stories. I believe I wrote in about 2 weeks ago searching for a happy camper and I think there may be one. Will see!

Robert L, Ocwen Expert

OCWEN took over my account about a year ago. I have not one time had any problems with the posting of my payments. I send the payment in about 4 days before the first and they are usually posted by the 4th of each month.



Also I have had telephone contact with these people and they have always been helpful and courteous.



Is this a isolated incident or frequently happening?

MY HOME EQUITY LOAN WAS SOLD TO OCWEN BY DELTA FUNDING A FEW MONTHS AGO. DELTA WAS ALWAYS KIND AND WORKED THINGS OUT WITH ME. MY PAYMENT HAS A 15 DAY GRACE PERIOD. IT IS DUE ON THE 1ST OF THE MONTH. SINCE IT HAS BEEN WITH OCWEN IT TAKES ABOUT 12 DAYS FOR THEM TO PROCESS IT AND I RECEIVE A LETTER BEFORE THE 15 DAY GRACE PERIOD. WHEN I CALLED SEVERAL TIMES THEY ADVISED ME TO SEND MY PAYMENT 14 DAYS AHEAD OF TIME. WHY DOES IT TAKE SO LONG TO POST A PAYMENT? I HAVE OTHER PAYMENTS AND NONE TAKE THAT LONG. WHAT IS THE PROBLEM? I WOULD NEVER DO BUSINESS WITH THIS COMPANY AGAIN. EG. MAILED PAYMENT OF THE 1ST, 6TH RECEIVED A LETTER, POSTMARKED THE 12TH AND MY PAYMENT REACHED MY BANK ON THE 13TH. WHAT IS WORK WITH THAT SCENARIO? WHAT IS THE REMEDY TO THIS?