Report: #833266

Complaint Review: Ocwen Loan Services LLC

  • Submitted: Fri, February 03, 2012
  • Updated: Fri, February 03, 2012
  • Reported By: Hardworking homeowner — Phoenix Arizona U.S.A.
  • Ocwen Loan Services LLC
    PO BOX 24646
    West Palm Beach, Florida
    United States of America

Ocwen Loan Services LLC OCWEN Unethical, Untrustworthy, Trapped with them West Palm Beach, Florida

Show customers why they should trust your business over your competitors...

Saxon sold our first mortgage to Ocwen in 2010. We had to

have the Texas BBB and Arizona Dept of Financial Institutions help us in the

battle about our mortgage payments. Since at least 2004 we have been 2 months

ahead on all our mortgage payments even as our mortgage got sold to other

companies. Maybe we had an unconscious sense that we would need this security

buffer.... Anyway Saxon tried to hide the fact we were 2 months ahead just

before we went to Ocwen. Long story short Saxon had to be forced to 'fess-up

and then Ocwen had to be forced to accept the proof staring them in the face.

Since then, almost every month we have to battle with the

Ocwen reps to prevent our 2-month security buffer from being eradicated. They

think they're so slick -- they'll send statements two months in a row with the

same due date listed (i.e.: statement in June says next payment due Sept 1st

& then statement in July says same due date despite payment being made). We

strongly advise to insist on having correct paperwork & statements from

them -- don't just go along with incorrect documents; they'll try to use it

against you later, saying that your doing so 'proves' you were in agreement

with whatever stunt they've pulled on you.

This year our second mortgage went from Litton to Ocwen as

well. We have the same 2-month security buffer payments on the second mortgage

also, and of course Ocwen routinely attempts to eradicate those. Thought it was

a hassle before, having to fight with Ocwen reps over our payments for the

first mortgage once every month -- now it's twice every month because of the

second mortgage.

Reading about all the things Ocwen has done to other people

makes us feel fortunate .... all you folks, once you get back to being

stabilized in home ownership again some day, if you can come up with the extra

cash (maybe via cash-back option on a refinance, which is how we did it way

back in 2004) set yourself up a security buffer. It will make it at least a

little bit harder for unscrupulous mortgage companies to come stomp on you

& steal from you.

We are upside-down on our mortgage, so we can't refinance.

We would in a heartbeat just to get away from Ocwen. There is news about a new

program being proposed that will let even people upside-down on their mortgages

refinance (it was in the news on 1 Feb 12). Our first thought was, yay! we'll

have to try that if the proposal is approved -- now our second thought is maybe

we'd better not try it, since we're stuck with Ocwen and they're so likely to

use it as an opportunity to take our buffer away either as a required part of

the bargain or via underhandedness. We don't want to end up in a worse


Does anyone know of a truly ethical, highly regarded

mortgage company out there? Especially with operations based in the US?

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This report was posted on Ripoff Report on 02/03/2012 08:34 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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