Ocwen Technology Xchange Injunctive Action Suit by Ocwen Ocwen lost the first round. See why Ocwen does what it does, their profit margin is huge. West Palm Beach Florida

ex-top dog. you never serviced a loan that had a payment not posted and the mortgagee was either unable or unwilling to send you written proof of such? sorry to hear that everyone you handled was so apathetic. if you had handled my account,your experience would have been oh-so different, on at least 1 occasion. it took (1) 2 phone calls to no avail. (2) faxed copies of both sides of cancelled check with dates proving on-time payment,to no avail. (3) a notarized copy of same check (both sides) with a letter from my bank stating the clearing status of said check all sent certified mail before your company aknowledged they would investigate further. (4) after realizing their administrative mistake,(said they applied it to the wrong account),yes the correct account # was clearly printed on the check, finally it was applied to my account. (5) story over right...... wrong, upon my annual checkup of my credit report guess what appeared, a 30 day late and 8 shiny reindeer. well of course there was nothihg you could do about it, right? so now attached to my credit report is the same info.i gave your company applied against your 30 day report. now i am curious as to why you started out as top dog, but now are relegated to ex-top dog? could it be you saw the light?... unlikley...but even i hold out hope, not that you are one but even felons have some redeeming values.

No ex top dog from a company would be so defensive if there wasn't something for them to gain -PLEASE! Get real. I have not one but 2 major companies one being an insurance company who provided me with documents and statements to prove they sent more than a half dozen times documentation to provide proof of various things to Ocwen which Ocwen then totally disregarded. So ex top dog - you are nothing but a big lying pile of big dog s**t! And I bet you smell like it too because the breath from your lies is reaking way to far across the country!

In response to your comments in your first rebuttal "Would you believe in three years not once has a borrower been able to produce any evidence even after they complained and swore and cursed."

You're a liar. An arrogant, bald-faced liar. I have reams of documented evidence which I forced Ocwen to acknowledge when I was wrapped up in my own private Ocwen Hell. And I look forward to the day when we start seeing your buddies being tossed into jail.

I'll give you this - you're consistent with your former employer's modus operandi. You're a filthy, repugnant liar.

To quote from Shakespeare with reference to Top-Dog and his comments: "Methinks he doth protest too much."

My experience is brand new with Ocwen, as I am currently involved in a purchase transaction with a client whose credit report shows a charge-off for $2688 from Ocwen for allegedly failing to make complete payment at settlement on his last loan when it was closed.

I have in my possession an entire paper trail (FROM OCWEN'S OWN RECORDS), including the payoff demand letter, the expiration on the payoff demand and the amount needed.

I have the HUD-1 settlement statement showing the amount of money paid to OCWEN TO THE PENNY. I have the date of receipt by OCWEN, ON THEIR LETTERHEAD, showing the money was paid entirely to the penny and a day ahead of schedule.

Nonetheless, OCWEN took a charge-off of $2688, dinged my clients credit record, and was stupid enough to acknowledge on their letterhead they received the correct amount of money ahead of schedule, while still insisting they took this large charge-off.

Their own documents, which they have forwarded, prove the charge-off lie. They will not, however, admit in a plain letter that the client is not guilty of a charge-off.

One can only assume that OCWEN has repeated this "charge-off" scenario many (thousands?) of times to avoid paying taxes on profit. I would be interested to know if any class-action lawsuits are available that my client might take part in.

So Top-Dog, I wonder how you would fight your own documents...? Just rhetorical, since I always tell people our business if filled with liars, cheats and thieves. You certainly prove the point.

To quote from Shakespeare with reference to Top-Dog and his comments: "Methinks he doth protest too much."

My experience is brand new with Ocwen, as I am currently involved in a purchase transaction with a client whose credit report shows a charge-off for $2688 from Ocwen for allegedly failing to make complete payment at settlement on his last loan when it was closed.

I have in my possession an entire paper trail (FROM OCWEN'S OWN RECORDS), including the payoff demand letter, the expiration on the payoff demand and the amount needed.

I have the HUD-1 settlement statement showing the amount of money paid to OCWEN TO THE PENNY. I have the date of receipt by OCWEN, ON THEIR LETTERHEAD, showing the money was paid entirely to the penny and a day ahead of schedule.

Nonetheless, OCWEN took a charge-off of $2688, dinged my clients credit record, and was stupid enough to acknowledge on their letterhead they received the correct amount of money ahead of schedule, while still insisting they took this large charge-off.

Their own documents, which they have forwarded, prove the charge-off lie. They will not, however, admit in a plain letter that the client is not guilty of a charge-off.

One can only assume that OCWEN has repeated this "charge-off" scenario many (thousands?) of times to avoid paying taxes on profit. I would be interested to know if any class-action lawsuits are available that my client might take part in.

So Top-Dog, I wonder how you would fight your own documents...? Just rhetorical, since I always tell people our business if filled with liars, cheats and thieves. You certainly prove the point.

To quote from Shakespeare with reference to Top-Dog and his comments: "Methinks he doth protest too much."

My experience is brand new with Ocwen, as I am currently involved in a purchase transaction with a client whose credit report shows a charge-off for $2688 from Ocwen for allegedly failing to make complete payment at settlement on his last loan when it was closed.

I have in my possession an entire paper trail (FROM OCWEN'S OWN RECORDS), including the payoff demand letter, the expiration on the payoff demand and the amount needed.

I have the HUD-1 settlement statement showing the amount of money paid to OCWEN TO THE PENNY. I have the date of receipt by OCWEN, ON THEIR LETTERHEAD, showing the money was paid entirely to the penny and a day ahead of schedule.

Nonetheless, OCWEN took a charge-off of $2688, dinged my clients credit record, and was stupid enough to acknowledge on their letterhead they received the correct amount of money ahead of schedule, while still insisting they took this large charge-off.

Their own documents, which they have forwarded, prove the charge-off lie. They will not, however, admit in a plain letter that the client is not guilty of a charge-off.

One can only assume that OCWEN has repeated this "charge-off" scenario many (thousands?) of times to avoid paying taxes on profit. I would be interested to know if any class-action lawsuits are available that my client might take part in.

So Top-Dog, I wonder how you would fight your own documents...? Just rhetorical, since I always tell people our business if filled with liars, cheats and thieves. You certainly prove the point.

To quote from Shakespeare with reference to Top-Dog and his comments: "Methinks he doth protest too much."

My experience is brand new with Ocwen, as I am currently involved in a purchase transaction with a client whose credit report shows a charge-off for $2688 from Ocwen for allegedly failing to make complete payment at settlement on his last loan when it was closed.

I have in my possession an entire paper trail (FROM OCWEN'S OWN RECORDS), including the payoff demand letter, the expiration on the payoff demand and the amount needed.

I have the HUD-1 settlement statement showing the amount of money paid to OCWEN TO THE PENNY. I have the date of receipt by OCWEN, ON THEIR LETTERHEAD, showing the money was paid entirely to the penny and a day ahead of schedule.

Nonetheless, OCWEN took a charge-off of $2688, dinged my clients credit record, and was stupid enough to acknowledge on their letterhead they received the correct amount of money ahead of schedule, while still insisting they took this large charge-off.

Their own documents, which they have forwarded, prove the charge-off lie. They will not, however, admit in a plain letter that the client is not guilty of a charge-off.

One can only assume that OCWEN has repeated this "charge-off" scenario many (thousands?) of times to avoid paying taxes on profit. I would be interested to know if any class-action lawsuits are available that my client might take part in.

So Top-Dog, I wonder how you would fight your own documents...? Just rhetorical, since I always tell people our business if filled with liars, cheats and thieves. You certainly prove the point.

The most interesting reading I have seen in a while is how OCWEN came about, UK based originally to financing the buy from Scotland to buyers in the US.

And really interesting is what Ocwen is doing to the real estate appraisers, major consolidation there. Kinda looks like a conflict of interest and anti trust issues.

It just get better and better

Mr. Mutt,

Are you really such a fool that you would think anyone here would be so irrational or naive that they would, mistake the lies you spew forth as the truth (obviously, on behalf of your Ocwen cronies)? You may be able to hide your name for now but you cannot hide the truth. I have read many of the complaints posted here and have yet to find any that substantiate your assertion that the authors even suggest they should not be responsible for any legally incurred debt. By the way, the only reason why McDonalds was ordered to pay such a high award by the courts was because they had received over thirty thousand complaints previously and failed to take action. It took that high of an award just to get their attention. Maybe they thought they were above the law too. I don't like being crude but I suggest you do what you do best and go lick your balls and stop wasting our time.

I'm not sure who Ex-Top Dog is, I've been trying to figure it out. But, there are very few managers (or higher) who work(ed) at Ocwen who really know what goes on. Most Ocwen management walk around with their head in the sand, adding up what their bonus is going to be. The only people who really know what goes on are 1) the agents 2) the supervisors and 3) (occasionally) floor managers. Every manager who is in WPB or who is in a glass office in Orlando pretend to be completely clueless. A while back I was chatting with an internal auditor and he related to me that Ocwen's collections practices boarder on harrassment. He said he tried to talk to Scott Conradson (who used to be the Orlando VP) about it, but was shot down. I know that the person who used to be the Research manager (BC) out right lies about the OTS numbers and told bold face lies to her superiors about the OTS complaints. She and her favorite supervisor would spend a lot of time "cooking" the books when an audit was near. However, management loves her and worships the ground she walks on. Probably because she will take the heat if anything ever happens, and they will not. The very few employees left here in the US know that their time is limited. India does most of the collecting, etc. Granted, there is gossip, there are people who say things because they may not like this person or that person. But, if you keep your mouth shut, do your job and pretend to be invisible, they forget that you are there and put down their guard and you begin to learn things. Nothing surprises me anymore, I've heard it all.

Just a word of advice if you think there is something wrong with your loan, refinance as quickly as possible. But make sure it's with a mortgage company that services their own loans, Wells Fargo, Countrywide, etc. Good luck!

Here is just one example of Ocwen ripping off people who pay on time....

Attorney Catey Doyle (left) helped Anthony and Jenny Parrott of Milwaukee remove unwarranted charges tacked on by their old mortgage-servicing company.

It took lawyers and a judge to rescue Anthony and Jenny Parrott from foreclosure after a run-in with their mortgage servicer, they say, as their granddaughter Alssya, 4, listens.

Quotable

Borrowers are making payments on time, but the way servicers apply them, it doesn't look like it.

- Jim Stanek,
fair lending specialist


Three Milwaukee families said they were done a disservice by the companies collecting - but not always properly recording - their monthly loan payments.

Their experiences suggest some problems in the mortgage servicing business, said Catey Doyle, an attorney with Legal Aid Society of Milwaukee Inc. Her organization handled all three family's problems - which date back to 2002 - with their mortgage servicing companies.

"It used to be whoever had your loan did your servicing," Doyle said. "But now we have service companies who don't own the loan. They make money by collecting payments, but they make a lot of money when the payments aren't on time - late fees, inspection fees, all kinds of fees. And they want those fees."

Even when they haven't earned the fees, according to Jenny and Anthony Parrott of Milwaukee.

"Every payment was on time," said Anthony Parrott, 49. "I've got the receipts. But there was one (in 2002) they were missing. I get this call one night saying, 'You're being foreclosed.' "

For about a year, he said, "it was back-to-back calls, and they kept saying they were foreclosing."

It took lawyers and a judge to save the Parrotts from foreclosure. Their mortgage servicing company, Ocwen Federal Bank FBS of West Palm Beach, Fla., paid the couple a $12,000 settlement. Deborah A. Blommer, an attorney in Brookfield who represented Ocwen in the case, said "our client prohibits us from making any comment on these type situations."

To Mr. Hound - As you well know, a loan servicer makes it's profit be servicing loans (applying the payments properly - principal, interest, tax escrow, insurance escrow, MI, etc.) and while the margin is small, they make a profit on the volume. In the case of a few, they increase their margins with ancillary services (title, insurance, home warranties, etc.) and still run an upfront business with all of this information disclosed. But a couple found they can dramatically increase their profit margins with extra fees (late fees, pay off fees, attorney fees, etc.).

And if they manage to delay the deposit of just one payment check from each mortgage and back charge a late fee, they can triple or better their margins. Remember a few years ago when Ocwen was buying non performing loans to foreclose and resell the property. Why did they stop? They couldn't make money reselling. By the way, since Ocwen is supposed to be a bank, could you direct me to a branch so I can open a checking account? And even though I live in Palm Beach County, I have never been an Ocwen employee but I sure know a lot of ex employees.

Ill feelings towards their mortgage servicer?
Give me a break.
Don't you have some, "WORTHY" causes that you can donate your time to?
Homeless shelters are packed. Go visit one, and come back and tell us about your experience.
How dare you come to this forum and defend this company!
Fraud, is Fraud, is Fraud, PERIOD.
P.S.
The fact that you are even posting here tells me that Ocwen is AFRAID.

Who cares you ask? Obviously many people care one way or the other about Ocwen. I just felt like shedding some light on some matters. Why do you object?

Many people do not know Ocwens capacity with respect to their mortgage. If you didn't find any of what I said enlightening than you already knew what I wrote. I am almost certain that at least one person that read the reply I posted is more educated than before reading it.

Again, I am an Ex Employee who couldn't care less if the Ocwen building caught fire and all the records inside it were lost in a blaze. I just despise ignorance and if you read most of the posts they are primarily one sided and portray Ocwen as a sinister monster when the reality is if people did what they agreed to they wouldn't have ill feelings towards their mortgage servicer.

Ex Top Dog or Current Top Dog, which is it? Doesn't matter, you are full of fleas, lies, and poop!

We ALL know what Ocwen is SUPPOSED to be doing; it is the fact that Ocwen does what it wants and what is profitable for it that gets Ocwen into trouble.

If you ever worked there, you are certainly dumber than a box of hair not to have caught on to the scam in a whole two and a half years!

Here's how the fraud works, since you seem to be having trouble catching on.

Ocwen and its partners-in-crime originating lenders "forget" to send out the obligatory RESPA letters informing borrowers of the loan-servicing transfers. That almost always guarantees that at least one payment gets sent to the "old" servicer, setting the stage for the rest of the scam.

Ah, ha! The borrower is technically one payment behind already. That one payment sent to the old servicer evaporates into thin air. The old servicer no longer has an account for the borrower, you see, and does not know what to do with it. All the records are gone. It falls into the deep pockets and is absorbed without credit to the borrower's account. Or, if it does get forwarded to Ocwen it is, of course, late.

The game is now afoot in earnest. Maybe Ocwen cannot find any proof of hazard insurance, so it adds that to the balance. Seems the old servicers are really terrible about forwarding that proof of insurance.

Payments received by Ocwen's non-servicing center are now being split into pieces-parts. A little bit to late fees, a little bit to legal fees (which Ocwen has not even incurred yet)and a little bit to often unnecessary hazard insurance. Maybe Ocwen better set up an escrow account for good measure, too, whether it is warranted or not, so a little bit goes there.

Oh, dear! Ocwen cannot apply what is now only a small part of a payment to a borrower's account. What to do, what to do? Ocwen knows! It will tuck it away into a suspense account. Nothing gets credited to the borrower's account that way! Oh, joy, says Ocwen! We have the money and the borrower gets no credit; how much better can it get??!!

Now Ocwen is dinging the borrowers credit report, showing the borrower to be three, four, five months behind on mortgage payments.

It usually takes Ocwen six months or less to railroad a borrower into forbearance or foreclosure using this method.

Ocwen loves forbearance agreements. They are the lifeblood of the company, they are the profit makers. Ocwen prepares a list of supposed fees owed by the borrower...late fees, legal fees (which Ocwen still has not incurred), insurance fees, escrow fees, whatever it can pack on there, as much as it can pack on there.

Sometimes Ocwen opts to skip attempting to collect forbearances and goes straight for the foreclosure.

Ocwen has an allergy to writing letters for any purpose. Ocwen wants to do everything over the phone so it can tell any lie or promise anything because Ocwen knows that phone conversations are rarely admissible in court. Anyone who ever spoke to you, Top Dog, was undoubtedly lied to in various ways by you. The borrower has no way of knowing that his payments are being split up into various pots and the remainder put into suspense.

Somehow the borrower becomes aware that there is a problem. Sometimes this happens when the sheriff makes a visit, sometimes it is when the borrower reads that he is in foreclosure in the local paper. Sometimes it is a notice from a credit card company informing the borrower that it is raising his interest rates through he roof due to past due mortgage payments. Maybe the borrower requested a copy of his credit report for reasons of his own.

Or Ocwen might even get around to writing a letter at this point to clue the borrower in on the status. Ocwen now has the upper hand to demand thousands in fees of all kinds, so has no problem with letting the cat out of the bag now.

The borrower goes through his records and finds all the checks which are endorsed by Ocwen. He may or may not find that one canceled check that got sent to the originating lender after the transfer was made, but that is still only one payment. How can he possibly be in foreclosure?

The borrower thinks that somehow a payment got misapplied somewhere along the way and it will be a simple matter to call the non-servicing center and straighten it out. The call is made and some guy in India answers the phone. Some guy who barely understands English and cannot seem to make heads or tails of what the borrower is trying to say. All this guy can do is look at the computer screen and tell the borrower that his computer shows no payments applied for the past four or five months.

The guy in India has no way of knowing that Ocwen has applied the payments to this, that and the other bogus BS accounts, so he doggedly repeats over and over "Your account shows no payments applied for four months".

At first the borrower tells the guy that he is looking at the canceled checks, the payments have been made, where are they? The guy in India (who may not even have figured out at this point that he works for a company that has crookery down to a fine art) is still repeating his mantra "The computer shows no payments applied for four months" until the borrower realizes that he is getting nowhere and hangs up in frustration.

Outsourcing has worked wonderfully for Ocwen because by spreading things all over the world, no one knows where these payments are going or how they are being split up.

This is the point that many panicky borrowers call a lawyer. This is the signal for Ocwen to begin Stage Two: the Evasion Game.

Ocwen will file motion after motion to get the case thrown out of court. Ocwen will claim that it was not informed of the current suit and needs more time to prepare. Ocwen will delay until the end of the world. Ocwen will foreclose before anything can get accomplished in court using these methods.

At this point, with the house gone, the borrower often gives up and drops the suit which has become moot and tries to move on with his life. Life is tough for the borrower now. It is hard to rent an apartment with a bad credit report. He has no hope of rebuilding any credit for a long, long time. Maybe his family has been destroyed due to the stress of trying to save his home.

Quite often, Top Dog, Ocwen will pick these properties up for itself at sheriff's auction really cheap. So your statement that Ocwen does not gain by foreclosure is not entirely true. The property is then resold for a tidy profit, dragging another unsuspecting victim into the meat grinder.

Or perhaps Ocwen might "happen" to wind up with an entire neighborhood of repo'd homes. If the location is desirable, Ocwen may develop that property itself. You do know that Ocwen does development, don't you?

So, Top Dog, maybe you can get a grip on how this all works from this brief summary.

I find it amazing that any EX-employee of this life-sucking company would spend time at this board trying to defend Ocwen. Ocwen follows a carefully calculated plan of fraudulent activity to make a profit for itself any way it can.

I must conclude that you are still connected to Ocwen in some way to show yourself here yapping proudly about being part of one of the greatest crooked companies in America today!

Why don't you go get a flea bath and maybe when you get rid of the annoying bites and itching, you can spend some time thinking about how many lives you have helped to ruin.

Shame on you!

Ex Top Dog or Current Top Dog, which is it? Doesn't matter, you are full of fleas, lies, and poop!

We ALL know what Ocwen is SUPPOSED to be doing; it is the fact that Ocwen does what it wants and what is profitable for it that gets Ocwen into trouble.

If you ever worked there, you are certainly dumber than a box of hair not to have caught on to the scam in a whole two and a half years!

Here's how the fraud works, since you seem to be having trouble catching on.

Ocwen and its partners-in-crime originating lenders "forget" to send out the obligatory RESPA letters informing borrowers of the loan-servicing transfers. That almost always guarantees that at least one payment gets sent to the "old" servicer, setting the stage for the rest of the scam.

Ah, ha! The borrower is technically one payment behind already. That one payment sent to the old servicer evaporates into thin air. The old servicer no longer has an account for the borrower, you see, and does not know what to do with it. All the records are gone. It falls into the deep pockets and is absorbed without credit to the borrower's account. Or, if it does get forwarded to Ocwen it is, of course, late.

The game is now afoot in earnest. Maybe Ocwen cannot find any proof of hazard insurance, so it adds that to the balance. Seems the old servicers are really terrible about forwarding that proof of insurance.

Payments received by Ocwen's non-servicing center are now being split into pieces-parts. A little bit to late fees, a little bit to legal fees (which Ocwen has not even incurred yet)and a little bit to often unnecessary hazard insurance. Maybe Ocwen better set up an escrow account for good measure, too, whether it is warranted or not, so a little bit goes there.

Oh, dear! Ocwen cannot apply what is now only a small part of a payment to a borrower's account. What to do, what to do? Ocwen knows! It will tuck it away into a suspense account. Nothing gets credited to the borrower's account that way! Oh, joy, says Ocwen! We have the money and the borrower gets no credit; how much better can it get??!!

Now Ocwen is dinging the borrowers credit report, showing the borrower to be three, four, five months behind on mortgage payments.

It usually takes Ocwen six months or less to railroad a borrower into forbearance or foreclosure using this method.

Ocwen loves forbearance agreements. They are the lifeblood of the company, they are the profit makers. Ocwen prepares a list of supposed fees owed by the borrower...late fees, legal fees (which Ocwen still has not incurred), insurance fees, escrow fees, whatever it can pack on there, as much as it can pack on there.

Sometimes Ocwen opts to skip attempting to collect forbearances and goes straight for the foreclosure.

Ocwen has an allergy to writing letters for any purpose. Ocwen wants to do everything over the phone so it can tell any lie or promise anything because Ocwen knows that phone conversations are rarely admissible in court. Anyone who ever spoke to you, Top Dog, was undoubtedly lied to in various ways by you. The borrower has no way of knowing that his payments are being split up into various pots and the remainder put into suspense.

Somehow the borrower becomes aware that there is a problem. Sometimes this happens when the sheriff makes a visit, sometimes it is when the borrower reads that he is in foreclosure in the local paper. Sometimes it is a notice from a credit card company informing the borrower that it is raising his interest rates through he roof due to past due mortgage payments. Maybe the borrower requested a copy of his credit report for reasons of his own.

Or Ocwen might even get around to writing a letter at this point to clue the borrower in on the status. Ocwen now has the upper hand to demand thousands in fees of all kinds, so has no problem with letting the cat out of the bag now.

The borrower goes through his records and finds all the checks which are endorsed by Ocwen. He may or may not find that one canceled check that got sent to the originating lender after the transfer was made, but that is still only one payment. How can he possibly be in foreclosure?

The borrower thinks that somehow a payment got misapplied somewhere along the way and it will be a simple matter to call the non-servicing center and straighten it out. The call is made and some guy in India answers the phone. Some guy who barely understands English and cannot seem to make heads or tails of what the borrower is trying to say. All this guy can do is look at the computer screen and tell the borrower that his computer shows no payments applied for the past four or five months.

The guy in India has no way of knowing that Ocwen has applied the payments to this, that and the other bogus BS accounts, so he doggedly repeats over and over "Your account shows no payments applied for four months".

At first the borrower tells the guy that he is looking at the canceled checks, the payments have been made, where are they? The guy in India (who may not even have figured out at this point that he works for a company that has crookery down to a fine art) is still repeating his mantra "The computer shows no payments applied for four months" until the borrower realizes that he is getting nowhere and hangs up in frustration.

Outsourcing has worked wonderfully for Ocwen because by spreading things all over the world, no one knows where these payments are going or how they are being split up.

This is the point that many panicky borrowers call a lawyer. This is the signal for Ocwen to begin Stage Two: the Evasion Game.

Ocwen will file motion after motion to get the case thrown out of court. Ocwen will claim that it was not informed of the current suit and needs more time to prepare. Ocwen will delay until the end of the world. Ocwen will foreclose before anything can get accomplished in court using these methods.

At this point, with the house gone, the borrower often gives up and drops the suit which has become moot and tries to move on with his life. Life is tough for the borrower now. It is hard to rent an apartment with a bad credit report. He has no hope of rebuilding any credit for a long, long time. Maybe his family has been destroyed due to the stress of trying to save his home.

Quite often, Top Dog, Ocwen will pick these properties up for itself at sheriff's auction really cheap. So your statement that Ocwen does not gain by foreclosure is not entirely true. The property is then resold for a tidy profit, dragging another unsuspecting victim into the meat grinder.

Or perhaps Ocwen might "happen" to wind up with an entire neighborhood of repo'd homes. If the location is desirable, Ocwen may develop that property itself. You do know that Ocwen does development, don't you?

So, Top Dog, maybe you can get a grip on how this all works from this brief summary.

I find it amazing that any EX-employee of this life-sucking company would spend time at this board trying to defend Ocwen. Ocwen follows a carefully calculated plan of fraudulent activity to make a profit for itself any way it can.

I must conclude that you are still connected to Ocwen in some way to show yourself here yapping proudly about being part of one of the greatest crooked companies in America today!

Why don't you go get a flea bath and maybe when you get rid of the annoying bites and itching, you can spend some time thinking about how many lives you have helped to ruin.

Shame on you!

Ex Top Dog or Current Top Dog, which is it? Doesn't matter, you are full of fleas, lies, and poop!

We ALL know what Ocwen is SUPPOSED to be doing; it is the fact that Ocwen does what it wants and what is profitable for it that gets Ocwen into trouble.

If you ever worked there, you are certainly dumber than a box of hair not to have caught on to the scam in a whole two and a half years!

Here's how the fraud works, since you seem to be having trouble catching on.

Ocwen and its partners-in-crime originating lenders "forget" to send out the obligatory RESPA letters informing borrowers of the loan-servicing transfers. That almost always guarantees that at least one payment gets sent to the "old" servicer, setting the stage for the rest of the scam.

Ah, ha! The borrower is technically one payment behind already. That one payment sent to the old servicer evaporates into thin air. The old servicer no longer has an account for the borrower, you see, and does not know what to do with it. All the records are gone. It falls into the deep pockets and is absorbed without credit to the borrower's account. Or, if it does get forwarded to Ocwen it is, of course, late.

The game is now afoot in earnest. Maybe Ocwen cannot find any proof of hazard insurance, so it adds that to the balance. Seems the old servicers are really terrible about forwarding that proof of insurance.

Payments received by Ocwen's non-servicing center are now being split into pieces-parts. A little bit to late fees, a little bit to legal fees (which Ocwen has not even incurred yet)and a little bit to often unnecessary hazard insurance. Maybe Ocwen better set up an escrow account for good measure, too, whether it is warranted or not, so a little bit goes there.

Oh, dear! Ocwen cannot apply what is now only a small part of a payment to a borrower's account. What to do, what to do? Ocwen knows! It will tuck it away into a suspense account. Nothing gets credited to the borrower's account that way! Oh, joy, says Ocwen! We have the money and the borrower gets no credit; how much better can it get??!!

Now Ocwen is dinging the borrowers credit report, showing the borrower to be three, four, five months behind on mortgage payments.

It usually takes Ocwen six months or less to railroad a borrower into forbearance or foreclosure using this method.

Ocwen loves forbearance agreements. They are the lifeblood of the company, they are the profit makers. Ocwen prepares a list of supposed fees owed by the borrower...late fees, legal fees (which Ocwen still has not incurred), insurance fees, escrow fees, whatever it can pack on there, as much as it can pack on there.

Sometimes Ocwen opts to skip attempting to collect forbearances and goes straight for the foreclosure.

Ocwen has an allergy to writing letters for any purpose. Ocwen wants to do everything over the phone so it can tell any lie or promise anything because Ocwen knows that phone conversations are rarely admissible in court. Anyone who ever spoke to you, Top Dog, was undoubtedly lied to in various ways by you. The borrower has no way of knowing that his payments are being split up into various pots and the remainder put into suspense.

Somehow the borrower becomes aware that there is a problem. Sometimes this happens when the sheriff makes a visit, sometimes it is when the borrower reads that he is in foreclosure in the local paper. Sometimes it is a notice from a credit card company informing the borrower that it is raising his interest rates through he roof due to past due mortgage payments. Maybe the borrower requested a copy of his credit report for reasons of his own.

Or Ocwen might even get around to writing a letter at this point to clue the borrower in on the status. Ocwen now has the upper hand to demand thousands in fees of all kinds, so has no problem with letting the cat out of the bag now.

The borrower goes through his records and finds all the checks which are endorsed by Ocwen. He may or may not find that one canceled check that got sent to the originating lender after the transfer was made, but that is still only one payment. How can he possibly be in foreclosure?

The borrower thinks that somehow a payment got misapplied somewhere along the way and it will be a simple matter to call the non-servicing center and straighten it out. The call is made and some guy in India answers the phone. Some guy who barely understands English and cannot seem to make heads or tails of what the borrower is trying to say. All this guy can do is look at the computer screen and tell the borrower that his computer shows no payments applied for the past four or five months.

The guy in India has no way of knowing that Ocwen has applied the payments to this, that and the other bogus BS accounts, so he doggedly repeats over and over "Your account shows no payments applied for four months".

At first the borrower tells the guy that he is looking at the canceled checks, the payments have been made, where are they? The guy in India (who may not even have figured out at this point that he works for a company that has crookery down to a fine art) is still repeating his mantra "The computer shows no payments applied for four months" until the borrower realizes that he is getting nowhere and hangs up in frustration.

Outsourcing has worked wonderfully for Ocwen because by spreading things all over the world, no one knows where these payments are going or how they are being split up.

This is the point that many panicky borrowers call a lawyer. This is the signal for Ocwen to begin Stage Two: the Evasion Game.

Ocwen will file motion after motion to get the case thrown out of court. Ocwen will claim that it was not informed of the current suit and needs more time to prepare. Ocwen will delay until the end of the world. Ocwen will foreclose before anything can get accomplished in court using these methods.

At this point, with the house gone, the borrower often gives up and drops the suit which has become moot and tries to move on with his life. Life is tough for the borrower now. It is hard to rent an apartment with a bad credit report. He has no hope of rebuilding any credit for a long, long time. Maybe his family has been destroyed due to the stress of trying to save his home.

Quite often, Top Dog, Ocwen will pick these properties up for itself at sheriff's auction really cheap. So your statement that Ocwen does not gain by foreclosure is not entirely true. The property is then resold for a tidy profit, dragging another unsuspecting victim into the meat grinder.

Or perhaps Ocwen might "happen" to wind up with an entire neighborhood of repo'd homes. If the location is desirable, Ocwen may develop that property itself. You do know that Ocwen does development, don't you?

So, Top Dog, maybe you can get a grip on how this all works from this brief summary.

I find it amazing that any EX-employee of this life-sucking company would spend time at this board trying to defend Ocwen. Ocwen follows a carefully calculated plan of fraudulent activity to make a profit for itself any way it can.

I must conclude that you are still connected to Ocwen in some way to show yourself here yapping proudly about being part of one of the greatest crooked companies in America today!

Why don't you go get a flea bath and maybe when you get rid of the annoying bites and itching, you can spend some time thinking about how many lives you have helped to ruin.

Shame on you!

Ex Top Dog or Current Top Dog, which is it? Doesn't matter, you are full of fleas, lies, and poop!

We ALL know what Ocwen is SUPPOSED to be doing; it is the fact that Ocwen does what it wants and what is profitable for it that gets Ocwen into trouble.

If you ever worked there, you are certainly dumber than a box of hair not to have caught on to the scam in a whole two and a half years!

Here's how the fraud works, since you seem to be having trouble catching on.

Ocwen and its partners-in-crime originating lenders "forget" to send out the obligatory RESPA letters informing borrowers of the loan-servicing transfers. That almost always guarantees that at least one payment gets sent to the "old" servicer, setting the stage for the rest of the scam.

Ah, ha! The borrower is technically one payment behind already. That one payment sent to the old servicer evaporates into thin air. The old servicer no longer has an account for the borrower, you see, and does not know what to do with it. All the records are gone. It falls into the deep pockets and is absorbed without credit to the borrower's account. Or, if it does get forwarded to Ocwen it is, of course, late.

The game is now afoot in earnest. Maybe Ocwen cannot find any proof of hazard insurance, so it adds that to the balance. Seems the old servicers are really terrible about forwarding that proof of insurance.

Payments received by Ocwen's non-servicing center are now being split into pieces-parts. A little bit to late fees, a little bit to legal fees (which Ocwen has not even incurred yet)and a little bit to often unnecessary hazard insurance. Maybe Ocwen better set up an escrow account for good measure, too, whether it is warranted or not, so a little bit goes there.

Oh, dear! Ocwen cannot apply what is now only a small part of a payment to a borrower's account. What to do, what to do? Ocwen knows! It will tuck it away into a suspense account. Nothing gets credited to the borrower's account that way! Oh, joy, says Ocwen! We have the money and the borrower gets no credit; how much better can it get??!!

Now Ocwen is dinging the borrowers credit report, showing the borrower to be three, four, five months behind on mortgage payments.

It usually takes Ocwen six months or less to railroad a borrower into forbearance or foreclosure using this method.

Ocwen loves forbearance agreements. They are the lifeblood of the company, they are the profit makers. Ocwen prepares a list of supposed fees owed by the borrower...late fees, legal fees (which Ocwen still has not incurred), insurance fees, escrow fees, whatever it can pack on there, as much as it can pack on there.

Sometimes Ocwen opts to skip attempting to collect forbearances and goes straight for the foreclosure.

Ocwen has an allergy to writing letters for any purpose. Ocwen wants to do everything over the phone so it can tell any lie or promise anything because Ocwen knows that phone conversations are rarely admissible in court. Anyone who ever spoke to you, Top Dog, was undoubtedly lied to in various ways by you. The borrower has no way of knowing that his payments are being split up into various pots and the remainder put into suspense.

Somehow the borrower becomes aware that there is a problem. Sometimes this happens when the sheriff makes a visit, sometimes it is when the borrower reads that he is in foreclosure in the local paper. Sometimes it is a notice from a credit card company informing the borrower that it is raising his interest rates through he roof due to past due mortgage payments. Maybe the borrower requested a copy of his credit report for reasons of his own.

Or Ocwen might even get around to writing a letter at this point to clue the borrower in on the status. Ocwen now has the upper hand to demand thousands in fees of all kinds, so has no problem with letting the cat out of the bag now.

The borrower goes through his records and finds all the checks which are endorsed by Ocwen. He may or may not find that one canceled check that got sent to the originating lender after the transfer was made, but that is still only one payment. How can he possibly be in foreclosure?

The borrower thinks that somehow a payment got misapplied somewhere along the way and it will be a simple matter to call the non-servicing center and straighten it out. The call is made and some guy in India answers the phone. Some guy who barely understands English and cannot seem to make heads or tails of what the borrower is trying to say. All this guy can do is look at the computer screen and tell the borrower that his computer shows no payments applied for the past four or five months.

The guy in India has no way of knowing that Ocwen has applied the payments to this, that and the other bogus BS accounts, so he doggedly repeats over and over "Your account shows no payments applied for four months".

At first the borrower tells the guy that he is looking at the canceled checks, the payments have been made, where are they? The guy in India (who may not even have figured out at this point that he works for a company that has crookery down to a fine art) is still repeating his mantra "The computer shows no payments applied for four months" until the borrower realizes that he is getting nowhere and hangs up in frustration.

Outsourcing has worked wonderfully for Ocwen because by spreading things all over the world, no one knows where these payments are going or how they are being split up.

This is the point that many panicky borrowers call a lawyer. This is the signal for Ocwen to begin Stage Two: the Evasion Game.

Ocwen will file motion after motion to get the case thrown out of court. Ocwen will claim that it was not informed of the current suit and needs more time to prepare. Ocwen will delay until the end of the world. Ocwen will foreclose before anything can get accomplished in court using these methods.

At this point, with the house gone, the borrower often gives up and drops the suit which has become moot and tries to move on with his life. Life is tough for the borrower now. It is hard to rent an apartment with a bad credit report. He has no hope of rebuilding any credit for a long, long time. Maybe his family has been destroyed due to the stress of trying to save his home.

Quite often, Top Dog, Ocwen will pick these properties up for itself at sheriff's auction really cheap. So your statement that Ocwen does not gain by foreclosure is not entirely true. The property is then resold for a tidy profit, dragging another unsuspecting victim into the meat grinder.

Or perhaps Ocwen might "happen" to wind up with an entire neighborhood of repo'd homes. If the location is desirable, Ocwen may develop that property itself. You do know that Ocwen does development, don't you?

So, Top Dog, maybe you can get a grip on how this all works from this brief summary.

I find it amazing that any EX-employee of this life-sucking company would spend time at this board trying to defend Ocwen. Ocwen follows a carefully calculated plan of fraudulent activity to make a profit for itself any way it can.

I must conclude that you are still connected to Ocwen in some way to show yourself here yapping proudly about being part of one of the greatest crooked companies in America today!

Why don't you go get a flea bath and maybe when you get rid of the annoying bites and itching, you can spend some time thinking about how many lives you have helped to ruin.

Shame on you!

Maybe you simply did not understand what you read. Ocwen business model forces people into foreclosure using deceptive an illegal business pratices.

This is how they make money on mortagages, the legal fees I quoted is the budget for their INTERNAL COUNCIL, not outside council. This company is involved in over 26,000 lawsuits nationwide.

This should be the leading indicator that this company is doing something wrong (as in illegal).

If you truly are an EX employee, why are you harrassing Richard?
Move on buddy.
To Richard,
I wouldn't respond to this Ocwen TROLL.
You know what you are doing, they don't. Perhaps that is why the TROLL is here posting against you.
Perhaps this company is afraid.

I am sorry and withdraw my opening statement from my last post, you no longer sound educated.

For starters when having a debate (one you started) it is good practice to address what your opponent says to you, similar to the way I tore apart your statements. Unless of course you cannot do so which would mean that I am accurate because you are unable to discredit what I said and you lost the debate.

Secondly I am trying for the life of me to understand your response and I am unable to do so. You can call me stupid which is fine being that I have already insulted your intelligence but it would be more productive to the thread if you could clarify exactly what you are saying. Primarily so I can discredit that as well. Maybe you did not have the time to put your thoughts together well enough before you made it official and rebuttaled. Or maybe that is all you can say to what I wrote. In any case what I wrote is the truth and is important that people know so they can understand.

Ocwen services loans similar to the way Jiffy Lube services cars. Ocwen abides by the instructions the original mortgage holder (or their successors) place before them. Ocwen does own a tiny portion of their own loans. A tiny portion! I had to throw that in because you love numbers so much I am sure you can inform us all the exact number of loans Ocwen actually owns.

Lastly, I am an Ex-Employee of Ocwen and could care less what their future holds. I used to be on the phone talking to hundreds of account holders a month trying to work out arrangements with them. The only complaints I had (three in 2 and one half years) were from people that were completly unreasonable and could not see or admit the wrong of their ways. I only reply because I get aggravated reading these ridiculous posts and I am one of those people in life that never get something for nothing. I pay all of my debts because I value my credit rating and my relationship with lenders. If I am late on a payment I call my lender and close them on working with me. I do not ignore them and hope for the best. Richard, do you honestly believe that people that are in foreclosure are not to blame? Who should be blamed if not the person responsible for signing the mortgage note? Do you think that a person delinquent on their mortgage is not delinquent on their other liabilities? Please, respect the website and reply to my statements in both my replies not just this one. If not for me than to the open forum, you have the mic make your fellow Ocwen bashers proud.

Gosh lets see, a company is in business to make money. So lets justify a profit margin by using applications that fail 14468 (their numbers) times in a one year period. Or is down so often that it has an outage 98% of every business week of the year. And this is the primary loans and collections application.

And then lets have our collections agent intentionally deceive people calling into that department so we can charge illegal fees or begin foreclosure on them. I stood two feet from the manager of the collections department in Orlando while she instructed her agent to do that when REAL Servicing was down.

And then lets hire independent consultants to review our environment and when the company willfully deletes data to hide the poor management skills and knowledge (and violate a few federal laws as well), lets go ahead and falsify documents in court in such a sloppy manner that a 3rd grader could see it.

Gosh its really okay for you to call me a d**k if I can call you a thief and a crook for supporting these kind of business ethics to justify a profit.

You would be a good EX at Ocwen. And I am going to willing to bet the judge is going to agree when the exhibits are filed and the motion is heard.

Gosh lets see, a company is in business to make money. So lets justify a profit margin by using applications that fail 14468 (their numbers) times in a one year period. Or is down so often that it has an outage 98% of every business week of the year. And this is the primary loans and collections application.

And then lets have our collections agent intentionally deceive people calling into that department so we can charge illegal fees or begin foreclosure on them. I stood two feet from the manager of the collections department in Orlando while she instructed her agent to do that when REAL Servicing was down.

And then lets hire independent consultants to review our environment and when the company willfully deletes data to hide the poor management skills and knowledge (and violate a few federal laws as well), lets go ahead and falsify documents in court in such a sloppy manner that a 3rd grader could see it.

Gosh its really okay for you to call me a d**k if I can call you a thief and a crook for supporting these kind of business ethics to justify a profit.

You would be a good EX at Ocwen. And I am going to willing to bet the judge is going to agree when the exhibits are filed and the motion is heard.

Gosh lets see, a company is in business to make money. So lets justify a profit margin by using applications that fail 14468 (their numbers) times in a one year period. Or is down so often that it has an outage 98% of every business week of the year. And this is the primary loans and collections application.

And then lets have our collections agent intentionally deceive people calling into that department so we can charge illegal fees or begin foreclosure on them. I stood two feet from the manager of the collections department in Orlando while she instructed her agent to do that when REAL Servicing was down.

And then lets hire independent consultants to review our environment and when the company willfully deletes data to hide the poor management skills and knowledge (and violate a few federal laws as well), lets go ahead and falsify documents in court in such a sloppy manner that a 3rd grader could see it.

Gosh its really okay for you to call me a d**k if I can call you a thief and a crook for supporting these kind of business ethics to justify a profit.

You would be a good EX at Ocwen. And I am going to willing to bet the judge is going to agree when the exhibits are filed and the motion is heard.

Richard, I just have to respond.....

You appear somewhat educated so I will truly enjoy making your last thread sound ridiculous.

For starters, you seem perturbed that Ocwen is in business to make money. Can you please name one business that is not in it for the money? If you are able to name such a business I am almost certain they will not be around for long. Please leave the Salvation Army out of this they do not count.

Secondly, Ocwen does not reap the reward of legal fees, they collect them to pay the blood thirsty attorneys that perform the foreclosure proceedings. Are you an attorney Richard? Maybe you can speak to your Attorney peers across the nation and lobby for them to decrease fees. I wonder how successful you will be with that. While we are on the topic of Attorneys, lets not forget that in today's day and age anybody can sue anybody for any given reason. Remember the woman that sued McDonalds because she spilt her coffee on her lap. It just goes to show you how ridiculous the judicial system is. I can't believe a judge would even hear that case let alone award her the winner. A disclaimer now appears on coffee cups to inform people that the coffee they ordered is hot. Truly absurd but she won and it was an attorney that won the case for her. An attorney that charged a sizable fee I am sure. Enough about that I am sure my point was received.

Lastly, lets say Ocwen did make a mistake posting a payment, losing a payment, whatever the case may be. That is one Payment not four plus payments (what is the minimum necessary to foreclose in some states). Do you honestly feel that people should not be accountable for their actions? I worked at Ocwen, if a borrower claimed they made a payment that didn't post to their loan, I would simply ask for evidence of such. Would you believe in three years not once has a borrower been able to produce any evidence even after they complained and swore and cursed. Why do you think that took place? I'll tell you why, because we live in a society where people want something for nothing and you know it. Whether it be not to pay a mortgage payment, or multiple payments, or not to pay a fee or cost due. People time and time again try to get away with whatever they can. I serviced loans at Ocwen that were over 300 payments delinquent. Imagine that for one moment, what possible good reason can you think of for not paying your mortgage in 10 years. It is sickening and it ruins it for the average person that is having a tough time paying their bills. Ocwen will work with borrowers to keep them in their home but it must be on Ocwens terms, that is just the way it is.

Before I go, one last thing .... Let's remember Ocwen services the loans they do not own them. So when a property goes to auction and the foreclosure attorney's outbid all the other parties in attendance, Ocwen does not take ownership of the property. The property goes to the mortgage holder, ex. Wells Fargo, Delta Funding, etc. Once ownership goes to the bank, the house is than fixed and sold on the open market by a Realtor, the funds go to the mortgage holder to help satisfy the debt owed on the property. More often than not, the houses are dilapidated and are in need of extensive improvements to be sold on the market leaving a deficit in which the mortgage holder has to absorb. So, please keep all these points in mind for the next time you decide to post a one-sided thread. By the way, are you one of those high paid attorneys the world can do without?