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1, Report #14525
Feb 19 2002
12:00 AM
Ocwen Continues their terror
I have written numerous letter to Ocwen and have been battling them for well over 3 years. Each and every day is an Ocwen Day. I have written the Congressman from New Jersey, 3 times, Thrift, about 3 times and finally Ocwen again just about 2 weeks ago. I would approximate a total of 60-70 letters or more have been sent to Ocwen alone. I received a reply from Ocwen attorneys today( they since changed their attorneys) and their latest response to my recent letter is simply filing for foreclsoure on my home. I guess I really ticked them off in this last letter I sent them. That's how Ocwen does their business. Just foreclose! Get her out of the way... I am tired, and I am discourgaged. Seems like no one out there is willing to help. No government agency, no lawyers, no politicians... no one. For some reason I continue to want to fight Ocwen, despite being drained all the way around. I'm not certain which step I will take next but I know there will be a next step to some where. I can not believe that all of us are getting ripped off by this so called bank and there's nothing that we can do. I guess my anger is what's keeping me motivated, yet, tired of the deception this abnk offers. God Bless All Of You Wilma Click here to read other Rip-off Reports on OCWEN Federal Bank Financial Services
Entity: Florida
2, Report #53526
Apr 18 2003
05:25 PM
Ocwen No customer service with Ocwen Orlando Florida
In trying to get to Ocwen's website, I found a complaint area regarding Ocwen and was very surprised there are so many issues with the financial company. Ocwen gives a web address, but due to bankruptcy I cannot access my account? My home went to a collection agengy (Ocwen). During the foreclosure process, attorneys representing Ocwen would not speak to me and would refer me to Ocwen, which of course began voice mail with no calls back. It then became apparent we were going to have to file Chapter 13 bankruptcy to keep the home. I received a monthly statement from Ocwen this month requesting a payment of $1,051.70 by 5/1/03, my mortgage payment is normaly $525.85. There is no true explanation as to this statement. The statement goes through bankruptsy charges that with my understanding have been taken care of two years ago with the filing of the bankruptcy. I have left two different messages on two different days waiting for a call back. I cannot understand the name nor the message of who my call is transfered to. I would like someone to explain the statement to me, before it becomes a late payment. It is nearly impossible get to a live person through Ocwen's automated system. I would like to receive information or ideas from individuals who have dealt with Ocwen. I would also like information on the class action lawsuit filed against Ocwen. Laurie Phoenix, ArizonaU.S.A.
Entity: Orlando, Florida
3, Report #301624
Jan 19 2008
02:05 PM
Ocwen help ocwen is ruthless Orlando Florida
Started in march of 2007 payment we made was reported late when in fact ocwen posted to another acc. took ten calls and over 40 hours to reach them ocwen fixed it but still posted on our credit that the payment was late. In the months of November and December of '07 we were behind in our payments due to medical reasons this being our first time ever to be late. OCWEN sent a notice of default the 24th of December saying I had to pay the past due amount 1085.06 by January 17, 08 Dec 28, 07 received a letter stating a interest rate freeze if I sent 1110.58 by December 31, 07 which I did by overnight mail. I was all current as I thought when I received a letter January 7, 08 stating ocwen did not received in it there within a specified time frame but they cashed the check and posted it December 31, 07 OCWEN said they were going to send the signed agreement with the check back to me which they have not nor posted to the acc correctly. I was sent four different acct statements with different amounts to pay. I finally got though to them and Ocwen stated they receive nothing and told me that January payment would go to fees that we owed but would not tell me how much. There is much more to the story but I am now trying to work with our fair housing to get results. I would love to be involved in a class action lawsuit Recardo toledo, OhioU.S.A.
Entity: Orlando, Florida
4, Report #176500
Feb 16 2006
09:38 AM
Ocwen ocwen ripoff Orlando Florida
we found out that my mother is losing her house and ocwen refuses to speak with her all because they wanted $4000 not telling her what is was for she asked for a payment process for the $4000 and they never got back to her. since july she hasn't recieved a bill but she still sent her payments in and after 2 months she recieved them back, she never got a notice of foreclosure she got a call at work from the local police department saying they were being evicted now the house is locked up with all my mothers possesions. ocwen lawyer called and told her theres nothing she can do about it just move on. Lindsey weirton, West VirginiaU.S.A.
Entity: Orlando, Florida
5, Report #366559
Aug 25 2008
11:03 AM
OCWEN OCWEN cheats people Orlando,Florida
Okay, so for the last three years, I have sent my payments in to Ocwen and usually have to wait three weeks for the payment to go through. This month, they ran my check through, and of course having paid my other bills, it didn't clear. I called them to see what needed to be done, having called my bank first, telling me that the check was returned to them. So I called them. This was the 21st of August. I talked to an agent (in a different country) who told me that it hadn't shown as returned, however if it does, (which my bank said did), then there would be a charge for the returned check, which was $25.00. So, knowing that the bank had returned the check to them, I went to the bank, and had a money order done in the amount needed, and sent it off to them, that day. Today, August 25th, I check my bank account, and I am in the hole, again, because they reran the check, which the bank had returned to them..... They're excuse, was that they never had it in their records that the check was returned to them. But they tried to tell me that I tried to have them take a payment by phone, which never happened, I don't like doing things that way, so why would I even go there? Then they tried to say that the payment would apply to September, well hello, if it didn't work the first time, how would it work the second time??? Now, this is a financial institution, wouldn't you think the agents would have up to date information as to when a payment has gone through, or if it didn't pass through the bank?? Am I giving our financial departments too much credit for hoping that they know what they're doing???? Apparently so. And how convenient it was because I was a male, they finally found a male to have me deal with, every female I spoke to wouldn't even respond to me. I found that to be quite amusing. Noone else could argue with me, so find the one in the bunch who could. Not that I could understand HALF of what he said?! Oh, yeah, and trying to get ahold of someone in the US who ould handle this account personally??? Not going to happen! Jdsid Denver, ColoradoU.S.A.
Entity: Orlando,, Florida
6, Report #901301
Oct 08 2012
12:03 PM
Ocwen Ocwen pretending to help homeowners , Internet
Ocwen is my loan processor - they're motto is helping homeowners is what we do but it should be pretending to help homeowners is what we do. After becoming unemployed I sought out a loan modification to my mortgage of which Ocwen is the loan processor.  I applied for HAMP and HARP which I didn't qualify for because when I got married my underwater property became a secondary residence.  I applied for an internal modification which they first told me that I qualified for but then said that I didn't because the owner of the loan said I didn't meet their financial guidelines even though I've never missed a payment and have excellent credit.  After six months of lost paperwork, requests for forms that don't exist, telling me that they will send information that they don't, etc. they said that the rules have changed and wanted me to start all over again.  Rather than spending another six months wasting my time with countless phone interviews and paperwork I checked it out for myself.  I still don't qualify for HAMP for the same reasons as before and I don't qualify for HARP 2.0 because my loan is not owned by Fannie Mae or Freddie Mac.  Ocwen refused to divulge the owner of my loan although they did pretend to send me the information twice.  I had to find out the owner of the loan myself through the MERS system at http://www.mersinc.org/  Whether Fannie Mae or Freddie Mac backs the loan can also be researched online at http://harp-mortgage.com/who-owns-my-loan/ - I also called them both to make sure.  If you're in the same boat, research the information yourself because Ocwen will take six months of pretending to help before telling you they can't help you.  It took me two days to research it myself.  How does such an incompetent company survive?
Entity: Internet, Internet
7, Report #98417
Jul 11 2004
08:14 AM
Ocwen Federal Bank ripoff Ocwen Florida
no paper work sent to me nothing in writing George birmingham, AlabamaU.S.A.
Entity: Ocwen, Florida
8, Report #730173
May 17 2011
08:48 AM
Ocwen Ocwen Loan Servicing LLC FTC Investigates Ocwen for Wrong Doing's Internet
Ocwen is currently being Investigated by the FTC..Now is your chance to make a difference.. Spread the Word!Anyone wanting to file a compliant with the FTC about Ocwen should send a letter to:Joel Winston associate director Federal Trade Commission 600 Pennsylvania Avenue, NW Washington, DC 20580 (202) 326-2222 www.ftc.govJoel Winston, associate director of the FTC, confirmed the probe and said agency officials are looking at more than one potential target as part of their mortgage-servicing investigation. He declined to identify any other companies being scrutinized by the FTC.The FTC has taken several actions in recent years against questionable practices by home-loan servicers, which collect mortgage payments and handle foreclosures on behalf of mortgage-loan investors.Ocwen is the 15th-largest mortgage servicer, according to Inside Mortgage Finance, a mortgage-industry newsletter. The company services $72 billion in loans and had net income of $38 million in 2010 on revenue of $360.4 million.I am Not an attorney and I don't Not give legal advice...
Entity: , Internet
9, Report #942695
Sep 17 2012
08:15 PM
Ocwen Ocwen loan servicing Ocwen hurting people not helping Internet
Ocwen said that they don't want to foreclose on you but they will if you have equity in your home. I paid everything they wanted and returned it back saying that they need more the they lost 15,000 dollars of mine and admitted that I showed proof of it and said that they can't find it. The banks found it twice how cant they find it?? They forced my home to foreclose on my home and sold it. When my lawyers call them they said that it was wrong to foreclose and that it will take another 20 days to find that money. After they sold my house. This is wrong at any level so why hasn't the us government stepped in to solving the problem for Americans. While so many people are victims of this evil and hainish act of curlity to Americans?? It's not right I'm standing up to fight it and wish for all Americans to do the same We have rights United we stand All for one and one for all.
Entity: , Internet
10, Report #269096
Aug 21 2007
09:31 AM
Ocwen Federal Bank/Ocwen Financial They got me , too. Orlando Florida
Ocwen got me also. I refinanced thru New Century Mortgage, who subsequently sold the mortgage to Ocwen Federal Bank. I was going along fine until about a six months later when my mortgage payment went from 1500 to 2000. I called and asked what had happened and they told me there was an escrow defeciency and had to raise the payment. With the new higher payment, I got one month behind, and was immediately put into foreclosure. I called again and was put into a forebearance agreement, which required a 3000 immediate payment, and then monthly payments of 2600. This was an agreement to stop forclosure proceedings, and to pay own the escrow defeciency. About 6 months after that, I found out that the escrow was never paid down, and that all of the money had gone to interest payments. After a year of trying in vain to save my home from foreclosure by paying almost twice the mortgage payment required, I lost the home in July of 2006. I attempted to sell the property via a quick sale to realize a small protion of the equity I had built. I bought for $175,000 and the value at this time was around $255,000. I was not allowed by Ocwen to realize any profit, or they would not allow the closing. I was told by Dan Begley, Ocwen Collections, that I will walk away with nothing or not at all. I ended up on the streets because of terror tactics and shady business prcatices. I want to get them for what they did! Lakewoodfool Aurora, IllinoisU.S.A.
Entity: Orlando, Florida
11, Report #300334
Jan 15 2008
05:36 PM
Ocwen, Ocwen Mortgage, Ocwen Financial Corp. Ocwen Orlando, Florida
Physically, mentally & emotionally tired of going in circles with this company and ready to get a lawyer. I am ready for a class action against this company to start here. I feel like they try and add all these bogus fees in addition to my mortgage to either; make it impossible for me to ever own my home or to foreclose on me and sell it. I can never get an answer for all these fees from the customer service reps. Tired. Martha Los Angeles, CaliforniaU.S.A.
Entity: Orlando, Florida
12, Report #589139
Apr 03 2010
07:27 AM
Ocwen / OCWEN LOAN SERVICING SHEISTERS - VERY BAD, Internet
OCWEN is bad news!!!!! We bought our house at the peak of the market with a 10% down payment.  We subsequently refinanced to fix all the problems of the house.  We also spent more money in securing our slopes since we are on the hills.  Our home value have declined by 30% based on our purchase price - 40% at the refinanced loan amount. We tried to modify our loan while current but nobody would even talk to us.  We wiped out all our savings already. Last year, November 2009, we were at the final stages of modification negotiation with SAXON.  We hired a lawyer to help us - same lawyer who helped us with our Bankruptcy. Everything was supposed to be in order but at the last hour it was sold to OCWEN Loan Servicing.  New negotiations have been initiated.  Meantime, they have sent an Auction Date notice for Mar 4, 2010.  Our lawyer and I scrambled to provide them all the documents need, financial hardship letter, financials, etc.  We were told that it will be submitted for processing and the sale date will be postponed to April 5th, 2010.  Second week of March they wanted us to submit more paperwork as the Manager is rejecting the terms. We re-submitted. We found out on April 1st (I thought it was an April Fool's joke) from our lawyer that he has not heard from them and they are not returning his phone calls and they are proceeding with the sale on Monday. Friday, April 2nd we were forced to file a Chapter 13.  I personally called OCWEN to find out what was happening.  They said that our lawyer should have told us that they are rejecting any offers even if we have income.  We showed them bank statements for 6 months to show income.  They said since it is our own business - they cannot modify.  They said sorry but we cannot - WE WILL NOT - help you!  Our lawyer is furious.  I will submit an Affidavit about our experience so I can join a lawsuit against them. This is ridiculous!!! 
Entity: , Internet
13, Report #77850
Jan 22 2004
06:51 PM
Ocwen Collection Agency ripoff Ocwen collection hell Orlando Florida
I would like to know if it is too late to get involved in the class action suit against Ocwen? What do I need to do? I feel as if I am fighting them on my own and yes I am scared! I get on this website at least three times a day to try and figure some way out of their grip!!! They had us in foreclosure in December which literely scared me to death...I have never been in that situation in my life especially when I did not see it coming. My husband was suppose to be paying the mortgage payment but as I know now he does not have all his facilities at times. We are now paid ahead to March and they (Ocwen) still have almost $900.00 of our money tied up in a suspense account...WHAT THE HELL IS THAT? They won't give it back. I have asked about it twice now and get some lame excuse. I guess the suspense is who pocket it will go in for their little bonus??? I called the Federal Trade Commission and filed a complaint and now I have got a letter from the Supervisor of Thrift saying I e-mailed the FTC. Right there is one lie!!! Who can you trust?? The SOTHrift wants a signed letter from me with my return address on it...as if they don't have it, they are the one's writing me! They are to investigate my problems with Ocwen...yea, right.I will eventually write them back along with copies to my Attorney General. At this point I feel very overwhelmed! My credit is completely ruined. Then you have all kinds of people calling you (yes, I am on the no call list) trying to sell you credit cards OH but first they want your checking account number so they can rob you also! When Ocwen put our house into foreclosure we had people coming to our DOOR trying to buy our house and they were going to lease it back to us. I left work early one day because I believed my husband was going to sign it over to them. Now my husband of 27 years wants a separation. THANK YOU OCWEN FOR THE HELL YOU HAVE MADE MY LIFE!! Me, join a class action suit? You better believe it! Please tell me what I need to do. Jodi Knoxville, TennesseeU.S.A.
Entity: Orlando, Florida
14, Report #172555
Jan 20 2006
11:23 PM
Ocwen News stories about Ocwen West Palm Beach Florida
BE SURE TO CHECK SOUTH FLORIDA BUSINESS JOURNAL ONLINE FOR 1st Story on Sunday 12/22/06 Voice of the People Ocwen, Allegations of Fraud, Malice, Misrepresentation and Manipulation. Ocwen Financial Corporation (Ocwen) is a vertically integrated multi-billion dollar, publicly traded (NYSE: OCN) financial services holding company, engaged in a variety of businesses related to mortgage servicing, real estate asset management, asset recovery and technology. Headquartered in West Palm Beach, Florida, Within a 12 month period this company has lost two major lawsuits alleging fraud, malice, misrepresentation and manipulation totaling $14.5M. Other allegations have been made by former and current employees including the intentional destruction of information, and document forgery. Why do so many people claim that Ocwen is ripping them off and wrongfully foreclosing on their homes? Is Ocwen really the bad guy? Or are their customers failing to meet their obligations and looking for a quick court buck? This is the first in a series of stories about this company, Ocwen services sub-prime mortgages. This means they service mortgages for people that have had trouble paying their bills in the past. And Ocwen services a lot of these, nearly 400,000 customers. As part of this investigation we decided to review a typical Ocwen customer, and a not so typical Ocwen customer. We will call them Mr. Smith and Mr. Jones (these are real Ocwen customers) who have ask to not be identified because of pending legal action. Mr. Smith just had the loan servicing rights acquired by Ocwen in August of 2005. Mr. Smith has homeowners insurance through Prudential, his premiums are paid and current. In September of 2005 Mr. Smith paid his regular monthly bill to Ocwen with his old account #. Mr. Smith had not received his new payment information from Ocwen and did not want to be late on his payment. Ocwen cashed this payment and on Sept 22nd sent him a letter (to the wrong address), stating he was late on house payment this letter did not contain his new account and payment information. Mr. Smith contacted Ocwen numerous times in writing and on the phone trying to resolve this matter. Many times Mr. Smith would be routed to customer representatives that spoke very poor or unintelligible English or would be disconnected. In October Mr. Smith still had not received his new payment information and again sent another payment to Ocwen, which again they cashed and again sent a letter, this time threatening foreclosure. In November of 2005 Mr. Smith finally received his payment information, the statement showed he was 4 months behind (yes 4 months when he had only been a customer for 3) in his payments and fees had been added that he did not understand, such as homeowners insurance and legal fees and late payment fees, totaling almost $2600. Mr. Smith made another payment in Nov 2005 which was returned by Ocwen stating they could not accept partial payments. Mr. Smith was now receiving nearly daily calls from Ocwen collections, and Mr. Smith responded in writing trying to rectify the situation. In December Mr. Smith received another statement again with a promise of foreclosure and new fees added in order to become current Ocwen now claimed he had to pay a sum of almost $3600. Now these fees were different from the statement he had received the month before for the same items. Homeowners insurance went up $120, legal fees increased by $277 and the house payment itself went down by $38. Mr. Smith wanted to refinance, but it appears Ocwen has already contacted the Credit Bureaus and reported him being late, he can't get refinanced. How is this possible? A former employee claims he knows exactly how it's possible. The RealServicing software used by Ocwen and the Nightly Processing that reconciles the loan accounts doesn't work and hasn't for several years. That's why customers get different payment information from month to month. It was a running joke in IT on how long the system would be down everyday when it ran. This whole process generated huge error logs that no one ever reviewed and it had been clear to everyone involved in the process that it has major problems. Ocwen has sued a former consultant that performed a review on this software claiming he has posted confidential information on the Internet and reported this information to Government Agencies and this consultant has already testified in a case against the company in which Ocwen was hit with a $3 Million verdict in Guzman V. Ocwen. This testimony was specific on the problems with Ocwen software and account reconciliation. We contacted this consultant for comment and were informed that because of an Injunction granted to Ocwen he could not discuss the matter, and was prevented from testifying in another case in which he was listed as a witness and the jury awarded the plaintiff $11.5 Million in damages in Davis V. Ocwen. However a hearing was being set to Vacate the Injunction that prevented the consultant from discussing the details of his work at the company. Other former and current employees have confirmed this information and noted that Management has been aware of these issues at the highest levels inside the company. Two employees have even tried to get the company to take action to resolve the problems but have not been successful. WOW. If the company is aware of these problems why haven't they done something to fix it? Ocwen has not responded to these specific issues yet but has commented and currently claim that they are not intentionally foreclosing on homes. The CEO William Ereby has stated publicly that the company doesn't make money on foreclosures that their profit comes from servicing the loans themselves. If this is true then why are their an overwhelming number of reports freely available on the internet that confirm the Mr. Smith experience with the company? Why are there so many lawsuits pending against Ocwen? Next month we will continue this series on Ocwen and report on Mr. Jones a very unusual Ocwen customer. Burt Turnerwood, TexasU.S.A. Click here to read other Rip Off Reports on OCWEN Federal Bank Financial Services
Entity: West Palm Beach, Florida
15, Report #248654
May 14 2007
05:47 PM
Ocwen Ocwen resulted in negative escrow Ripoff Carol Stream Illinois
I was sold to Ocwen about a year ago and ever since there has been problems. I have a impound account for insurance only because to have taxes and insurance was out of my price range. Well besides them losing my paperwork everymonth, having to use my cell phone at every break and lunch period I had to Call to fix the problem and run up my cell phone bill. I went to pay my taxes, mind you early, I found out they were already paid. I contacted Ocwen and they said they paid them. When I asked why they said I must have an impound for taxes Which I didn't. To make a long story short, a few months later my insurance company sent me a bill saying I needed to pay them. Once again I contacted Ocwen, and of course was put on hold, hung up on, and then finaly spoke to somebody that was so hard to understand it made things soooo much worse. Finally we sorted through that and they told me that infact I don't have an impound for taxes, insurance only. My escrow is in the negative and now they are making ME pay about $200 more a month to cover there mistake. This is the worst company in the world. Do not accept there mortgage, if they buy you try everything you can to get away from them!! My marriage and home life has suffered so much because of this company. Jolene Pollock Pines, CaliforniaU.S.A.
Entity: Carol Stream, Illinois
16, Report #98330
Jul 10 2004
07:20 AM
Ocwen wilshire ocwen West Palm Beach Florida
We had a loan with Ocwen and they were always saying we were behind on our payments. We had to enter into 2 forebearance plans and pay 1500.00 each time just to keep our house. Then the payments went up each time. We finally refinanced away from them in 2003 and when we paid the loan off we were charged $24,000.00 in extra charges. We paid it just to get away. I called and got a summary of what we paid and it might as well be greek. I am going to get a professional to look at it. Also we paid 6000.00 for (misc)fees. Also we were charged 9000.00 in interest for 5 months of 2003. I KNOW this is way too much interest for only 5 months. Will take this as far as I need to to be refunded my money. Terry Lynchburg, OhioU.S.A.
Entity: West Palm Beach, Florida
17, Report #289990
Dec 08 2007
04:02 PM
Ocwen mortgage help for single mom Ocwen says NO ! Orlando Florida
Ms. Razzx- I am not your mortgage servicer. You need to get in touch with an attorney right away for legal help. RHLS cannot represent you directly. We can only give you advice about your HEMAP application, where you can get legal and other help and information, etc. Donald Marritz, staff attorney Regional Housing Legal Services (((ROR REDACTED))) -----Original Message----- From: (((ROR REDACTED))) Sent: Friday, December 07, 2007 3:46 PM To: (((ROR REDACTED))) Subject: Message from HEMAP Applicant Applicant's problem relates to: Application Applicant's message: after being denied HEMAP , and before appeal today 12/7/07 Mr Begley , Please inform me to the status of my mortgage agreement . As it seems terms were broken on your end . My agreement was for the 5th ,Ms White promised me she stopped the sheriff sale in writing on several occasions on the 15th of November .The sale was on the 4th . I contacted the sheriffs office , as 2 large men were here today , to change the locks on my new door ! You excepted my fax , with the forbearance plan , & the UPS tracked you received my payment of $1840. I am unable to reassure my self & my son that we are safe tonight in this house as these men were truly scary . And I am threatened . I abided by your agreement again , I am not writing you again , or calling OCWEN . You will get my payment by Jan 1, 08 as in the agreement . I will attain attorney w/ the help of the sheriffs office. I am a single mom ,on social security disability . My minor son has anaphylaxis and spinal bifidia . We are alone in the bills & the morgage , but are trying very hard to work with them . Day to day for the last 2 years I have been uncertain as to whether or not we will have a home . At lat contact I was told my home was sold before my forebarence agreement was term ? ! This morning 2 men came to lock us out of our home , after I paid the down payment & signed the agreement and faxed in to OCWEN I still do not know? Mrazzi phila, PennsylvaniaU.S.A. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Entity: Orlando, Florida
18, Report #316340
Mar 09 2008
09:40 PM
Ocwen Bank Ocwen stole my home Orlando Florida
We were having financial difficulties when we were solicited by phone to refinance our house. The folks soliciting us said we could get some money to help us at the time because there was some equity in our home. They also said we could do the refinance with no docs, that is, with no income verification. This seemed like a great idea to us, we thought the money we would get would not only hold us over until we got new jobs and got our finances in order, and we would even have enough money to also pay our monthly mortgage on time in the interim. All this would help us in through our financial difficulties and we would qualify for a new refinance with these folks after 18 months of steady payments. We thought it was going to help us. This is not really the case. We had no idea what we were getting ourselves into. After getting excited about the much needed money that would be coming soon to help us and quite involved with fulfilling the requests that the soliciting folks were asking for, and not getting any information from them about the new loan specifics and how we would be affected by them. So there we were on the day the notary came to the house, signing this paperwork that we had been jumping through hoops to qualify for and seeing the real terms for the first time. Terms that we were not familiar with since all that we had been told or asked for was stuff to get money from the equity in our home and we figured everything would be okay. Everything was not okay. It turns we ended up upside down in our new loan right from the start. Not only that, but there was also a balloon payment due at the end of this 40 year loan that could buy a whole other house. This was handled by the notary at the signing by pointing out that after a period of steady payments, we could easily refinance again, and the balloon payment would go away and maybe even a better interest rate etcgreat we had that guaranteed refinance offer from them in 18 months, money to pay the mortgage from the equity, we thought it would be okay. Not okay. We were upside down in the loan from signing, something they failed to mention, an astronomical balloon payment hanging out there and on top of all that, a 3,200 new mortgage payment that we were not expecting. As our old payment was 1,300, this was a payment spike we quickly discovered would not be carried far by the money that we got from equity. So after the papers were signed we started being billed by some new folks- Ocwen our new loan servicing company and a debt collection agency at that. This is before we ever made a mortgage payment, let alone got behind with late payments. So we made some payments and somehow even when we paid on time by phone even to make sure the payment would be on time (a service we also paid Ocwen for) the payments would not be on time. The checks by phone or eft bounce or the check number would be wrong etcfrustrating and after awhile a pattern we noticed. When we finally realized even our on time payments were not on time we were already in a big mess. And of course Ocwen would not admit or fix any of these mysteriously late payments. Pile on bank fees and Ocwen's fees and we very quickly had real payments that were late because we were out of money, all the while getting negative credit reporting too for the real late payments and otherwise. We were facing foreclosure. So we called Ocwen and requested assistance and got it, in the form of a forbearance plan that would only go into effect with a down payment. Thank the LORD, we were able to scrape together the down payment which was a miracle. Because being so behind in our payments our new payment was 3,600. And we thought 3,200 was difficult to come up with! We made a couple of payments and ended up in default again. Meanwhile, our account had not ever been escrowed to cover taxes and insurance even though we had sent in all the required information and the request. Because of being in default they didn't do it. So there we were facing foreclosure again, now all this insurance stuff is coming to the house like they are going to insure for themselves because it's going to be sold but they would not do it for us before but they charged us fees and sent tons of mail about it. So the sale date is a few days away and we really don't want to lose our house but we have no money and we are so confused and frustrated dealing with this company we don't know what to do. We decide to give them a call, and they offer us a loan modification agreement but we need 3,545 down and to receive from them sign and fax back to them these agreement papers. We sell family heirlooms we would never had considered to part with because we are facing homelessness. Thank the LORD, we were also able to get a loan for the remainder and pay the day of the sale. We call them and tell them the Moneygram payment has been sent, where is this agreement paperwork they insist had to be signed and sent back for the terms we agreed upon to be valid. It comes a few days later and we don't know if the house is still ours, the paperwork has different terms then what they told us on the phone like no mention of dropping the balloon payment off of the loan, a .05% difference higher rate than what they said and oddly enough portions about binding and inuring to our heirs and forever signing away all of our rights no kidding- FOREVER! So here we are out heirlooms, 3,545 not knowing if the house even belongs to us anymore and being asked to sign this crazy agreement that not only doesn't say what they promised it asks us to give up all of our rights forever and those of our heirs! Frederick vacaville, CaliforniaU.S.A. Click here to read other Rip Off Reports on OCWEN Federal Bank Financial Services
Entity: Nationwide
19, Report #408998
Jan 07 2009
12:43 AM
OCWEN Loan Modification From Ocwen - Very Very Terrible Service !!!! Orlando, Florida
I recently was approved for a loan modification from Ocwen. They requested I put down a down-payment for X amount, but needed for me to sign a loan modification agreement first before I pay this down-payment. They mention I should recieve this loan modification agreement within 7 to 10 business days. I wait and wait and still no loan modification in the mail. I call and let them know I've not received the loan modification agreement, so they said they will go ahead and re-mail the loan modification agreement. Till this day 10 business days have passed and I have not received this loan modification agreement by mail so I called back the second time and told them just to e-mail it to me instead, this was just getting ridiculous. The loan modification was supposed to have already been signed and sent (faxed) back by a specific date. Now that I've printed it from the email, I call Ocwen to notify I recieved the loan modification agreement by email FINALLY and they told me its too late to send it in....what kind of crap is that ! * This company is terrible all together, customer service is terrible / they have a I dont care about you type of atitude. They just do NOT understand and care. I've had Countrywide in the past, there customer service were pretty sharp compared to these knuckle-heads..... * The Feds Need To Shut This Company Down - Too Much Bad Is Coming From This Company And VERY Low Confidence w/ Among Its Customers/Consumers ! Jon Colorado, ColoradoU.S.A.
Entity: Orlando, Florida
20, Report #14235
Feb 15 2002
12:00 AM
Ocwen Rip-off - I was not employed by Ocwen
I would just like to clear my report on 2/13 up....I was never employed by Ocwen. I worked for a company in Texas that serviced Ocwens accounts nation wide..(insurnace inspections, and regular inspections, etc...) I was only trying to state that it was also impossible to please their customer serivce employees..And I lost my job because of them ...They said that I was not basically dropping everything for them... I also had to speak to their mortgage account holders, on a daily basis. They would tell me stories of how they could never reach anyone by phone or e-mail, at Ocwen..And left me holding the bag, with angry homeowners on the phone yelling at me about Ocwen. When in reality we were only the servicing company that was contrated by Ocwen to inspect homes. I do not want anyone to think that I know anything about their inter office workings. I just simply came across this web-site, read the complaints, and felt sorry for everyone who has to deal with them monthly, or daily... I hope that this problem is solved sooonnnn. I wish I could help... Tammt Conroe, Texas
Entity: Nationwide
21, Report #10804
Jan 06 2002
12:00 AM
Ocwen - Can you believe the rebuttal Ocwen sent me?!!!!
To make a bad situation worse, my complaint was responded to by an extremely illiterate agent of the company. If you want a good laugh, go read it! Only goes to show what kind of company we're dealing with! Click here to read other Rip-off Reports on OCWEN Federal Bank Financial Services
Entity: Nationwide
22, Report #680348
Jan 08 2011
12:05 PM
Ocwen OCWEN = WE CON SCRAMBLED West Palm Beach , Florida
OCWEN ARE THE WORDS "WE CON" SCRAMBLED
Entity: West Palm Beach, Florida
23, Report #731241
May 19 2011
04:36 PM
ocwen Financial OCWEN THEIVES Internet, Florida
Ocwen bought my loan from a previous lender in 2008. I was about to be approved for a loan mod when this happened. Then I had to start all over with Ocwen. After many goose chases and a year later ocwen granted me a loan mod.I lost my job in summer of 2010 and had tenants placed in the house. They abandoned it in Jan 11 and left it damaged so badly that I cannot rent it again.Ocwen wants to foreclose. I get it. However, I asked for a deed in lieu of and was told I had to list my property for 3 months before I would be considered for it. No realtor will list it cause I have no access to it (home).Ocwen has been giving me yet another run around. I was told by one cs rep that he would email the property management dept so I could get into to clean and show my home. That was two weeks ago.Last week I was told that never happened and yet another request has been put through. Do you think I have been contacted?? Then I find out that this person with keys to the house was there 2 days ago. He has never called me. I left a message for a supervisor yesterday and still have not been contacted. This is a ploy for them to steal my house and then come after me later for the balance owed. I need help. I have no income and a daugher to raise. Who will help me? I feel helpless.
Entity: Internet, Florida
24, Report #755624
Jul 20 2011
09:15 AM
OCWEN Ocwen doesn't have to play by the rules Internet
I am trying to pay my mortgage off with this company and the account number and ABA number provided by OCWEN is valid however, it is not accepting wires.  No one will tell us why, I just heard the banker talking that there is some sort of hold and they don't accept incoming wires. It appears that just possibly someone has put a freeze on their accounts??? I spoke with the Office of Credit Consumer Commissioner this morning as was told that the reason no one can seem to get anything done with any regulatory company is because Ocwen does not have to play by the rules. They are not regulated and do not have to answer to any one. This person stated that this is part of the reason there are so many lawsuits pending against Ocwen across the US is because they for some reason do not have to answer to any one. Why can't the FEDS make them accountable?
Entity: , Internet
25, Report #1070695
Jul 28 2013
05:43 AM
OCWEN OCWEN IS RIPING PEOPLE OFF Imperial Missouri
My loan was transfered to OCWEN Loan about a year ago and they raised my loan by 200.00 dollars. At the time I didn't give it much thought. I should have. Then in Feb. 2013 I got a notice stating that I was late sending my payment in. So the next month, I made sure that I was several days early. I got another statement stating I was late again. So this time I sent my payment in express mail overnight. They didn't cash my check until after the 17th of April. I was so mad. I called them. All I got was an East Indian who could hardly speak English. I got the run around. In May I called them again. All I got was the automated system. I made the payment again by express mail. Ounce again they didn't cash the check until the 17th. I called agian and couldn't get anything but the automated system. This is BS. Unfortunately my wife passed away on May 27th 2013. So I moved into an apartment which is cheaper by a long shot. OCWEN can have the house. Good luck to them getting their money. They can have one of their East Indians or their Germans move in. For all of you who are dealing with OCWEN and are in the same situation, do yourself a favor, if you can, wait until they foreclose and then file chapter 7. OCWEN seems to have a habit of letting people file bankruptcy and then foreclosing and slaping the homeowner with a bunch of legal BS. I feel sorry for the hardworking American these days. It seems as if we are the Minority now.
Entity: Imperial, Missouri

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