Ocwen Federal Bank ripoff ripoff business from hell Orlando Florida

Have I got a story to tell about "OCWEN"! I prefer to wait until the coming "LAWSUIT"! With their practices, it is a matter of time. I've made 90 mortgage payments on time, to an "OCWEN" account, and they report it to the credit bureaus wrong, to hurt my credit, so I'll only refinance with them. Fat chance of me ever doing business with "OCWEN".

My mother and father passed away and left me a home. The deed/title was free and clear. I wanted to make some improvements to the home. Not only had I lost my parents but I was going through a divorce. My credit was not that good, but found a company who would finance the home. They kept the morgage only one month before selling it to Ocwen. The very first payment I sent was to the original morgage company.

Ocwen for several months, kept chargeing me late fee's saying I had never paid the first month, even though I sent copies of everything I had. Finally, someone found that they had changed my account # and didnt transfer the payment. But they never removed all the late charges. Thing went pretty good for about 4 months.

Then a late payment again... I went on a forebearence payment plan because I could not find the receipt for one of my monthy payments. I started paying them quick collect to avoid late charges, however, more came, attorneys letters etc. Now Three years later I am forced to sell my home. I owe like $5,000 more than the original loan.

I don't understand how i can pay for 3 years and owe more than I borred. But to get out from under Ocwen, I don't have a choice. Now I have lost the only thing my parents left me because of Ocwen. They do lie, the have so many trumpt up charges. Never in my life have I had this type of experience. It is ashame that hard working people have to go through this.. why isnt someone doing anything about it??

I am a former realestate agent and have read the comments with interest. I have a friend looking at a forclosure financed by OCWEN. It is a definite red flag and makes me more curious as to details of the property foreclosure. I suggest to anyone who feels they have been wronged by this company to immediately contact your State Attorney General's Office of Consumers Affairs and file a complaint. I have helped many clients in the past thru this process. It takes patience but has been well worth it in the long run. Ask them who else you might file a complaint with thru the Federal Government. Good Luck.

Yes we currently do have our morgage with Ocwen as well, they started their crap a few years ago with the holding of payments and stating that we were late. They hit us with the highest interest rates and late fees I ever did see. We called daily hoping that someone in that company would be helpful. Finally they said "Sure we will put you on a forbearance plan" well with that they put a comment on our TRW stating that the house is in the process of a foreclosure. That same statement has been on our TRW for 4 1/2 years.

They call everyday from the 2nd to the 15th of every month stating that they have not received our payment, meanwhile California receives payment on maybe the 4th and for some reason their computers in Fl. dont show payments until whenever.

Between the threatening letters, and constant tape recorded messages/employee phone calls we did try to refinance the house and like everyone else is going through Ocwen is making it impossible. One day we shall get away from those bastards, one way or another. As far as the comments made by the Ex-employee fraud- Im glad that you made soooo much money from Ocwen that you had a chance to sock money away for the unforeseeable future, but like the majority of the middle class who suffer just making enough to include putting a good meal on the table is how many of us live in America.

Not everyone is looking for a hand out, but when those loyal customers suddenly have a problem and the lending institution tells them to go scratch - eventually they too will have their own problems, or shall I say opportunities to stand on the unemployment line, after enough people do their homework regarding Ocwen Morgages they will surely take their business elsewhere, and trust me as soon as we find a different lending institution that will see Ocwen for what they are worth and give us the refinancing we deserve then chao baby....

I think you're lying about being fired because if you truly were, you would have no problem identifying yourself with your name instead of hiding behind the generic "Ocwen Employee" moniker. You could be Bill Erbey for all we know. I mean, now that your relationship with the monster has been severed, what could you possibly be afraid of, or have to lose, by identifying yourself with a first name?

You might think you are being creative in your not-so-clever attempt to cast doubt upon the complaints of Ocwen customers by claiming that Ocwen screwed you over during your employment, but there's another name for this: propoganda.

If only it were as simple as being able to refinance! However, Ocwen makes that next to impossible by submitting false, derogatory reports to the credit bureaus and pulling the foreclosure card from up its sleeve once it gets wind that a borrower would dare to refinance. I have seen this happen, so don't lie and say it doesn't. It would be wonderful if everyone had thousands of dollars lying around to pay off their mortgages. But most people I know don't have that kind of money -- which is why they have to take out a mortgage loan in the first place -- and even if they did, Ocwen would also make doing so next to impossible by stalling in giving a payoff quote or adding all sorts of illegal and exorbitant fees to the total. I've seen proof of this, too, so don't lie and say it doesn't happen.

These "stupid" and "irresponsible" people (your words) could call and confirm that payments had cleared their bank and, in fact, many do given the nature of the beast. But let's not fool ourselves here. Confirming that a mortgage payment cleared the bank still won't make one bit of difference because the problem is not whether a check has cleared, the problem is that once Ocwen gets it grubby hands on the money, you people always find some way to "lose" it or misapply it to mismanaged escrow and suspense accounts. So why don't you "stupid" and "irresponsible" employees lacking in common sense point your fingers where the blame truly belongs: at yourselves.

Further, why should customers spend upwards of $15 a month to do an electronic bill payment? If Ocwen did its job like it's supposed to, you would accept regular, first class mail and post payments as you receive them. Now, go back to kissing employer's backside and spew your propoganda someplace else.

To Jeff:

Regarding refinancing: see my comment on that above. You see, Ocwen is like a psychotic, former significant other that some of us have had the misfortune of crossing paths with at one time in our lives: it never wants to let go and can't accept the fact that you want to break up with it because it believes that you belong to it.

As far as an Ocwen customer going to the extraordinary length of short selling their home, why should they have to do this when a vast majority of them are making timely payments and holding up their end of the bargain when Ocwen chooses not to? Have you read any of the complaints here?

HUD, Sen. Barbara Mikulski (D-MD), and a bright investigative reporter at a Baltimore TV station are already starting to peel back the layers of Fairbanks Capital's schemes and are shocked and horrified at what they are finding. And as goes Fairbanks, so goes Ocwen and rest of the mortgage mafia. Don't be surprised when you see the fools that run these companies in front of Congressional investigation committees and in bright orange jumpsuits behind a set of steel bars.

I think you're lying about being fired because if you truly were, you would have no problem identifying yourself with your name instead of hiding behind the generic "Ocwen Employee" moniker. You could be Bill Erbey for all we know. I mean, now that your relationship with the monster has been severed, what could you possibly be afraid of, or have to lose, by identifying yourself with a first name?

You might think you are being creative in your not-so-clever attempt to cast doubt upon the complaints of Ocwen customers by claiming that Ocwen screwed you over during your employment, but there's another name for this: propoganda.

If only it were as simple as being able to refinance! However, Ocwen makes that next to impossible by submitting false, derogatory reports to the credit bureaus and pulling the foreclosure card from up its sleeve once it gets wind that a borrower would dare to refinance. I have seen this happen, so don't lie and say it doesn't. It would be wonderful if everyone had thousands of dollars lying around to pay off their mortgages. But most people I know don't have that kind of money -- which is why they have to take out a mortgage loan in the first place -- and even if they did, Ocwen would also make doing so next to impossible by stalling in giving a payoff quote or adding all sorts of illegal and exorbitant fees to the total. I've seen proof of this, too, so don't lie and say it doesn't happen.

These "stupid" and "irresponsible" people (your words) could call and confirm that payments had cleared their bank and, in fact, many do given the nature of the beast. But let's not fool ourselves here. Confirming that a mortgage payment cleared the bank still won't make one bit of difference because the problem is not whether a check has cleared, the problem is that once Ocwen gets it grubby hands on the money, you people always find some way to "lose" it or misapply it to mismanaged escrow and suspense accounts. So why don't you "stupid" and "irresponsible" employees lacking in common sense point your fingers where the blame truly belongs: at yourselves.

Further, why should customers spend upwards of $15 a month to do an electronic bill payment? If Ocwen did its job like it's supposed to, you would accept regular, first class mail and post payments as you receive them. Now, go back to kissing employer's backside and spew your propoganda someplace else.

To Jeff:

Regarding refinancing: see my comment on that above. You see, Ocwen is like a psychotic, former significant other that some of us have had the misfortune of crossing paths with at one time in our lives: it never wants to let go and can't accept the fact that you want to break up with it because it believes that you belong to it.

As far as an Ocwen customer going to the extraordinary length of short selling their home, why should they have to do this when a vast majority of them are making timely payments and holding up their end of the bargain when Ocwen chooses not to? Have you read any of the complaints here?

HUD, Sen. Barbara Mikulski (D-MD), and a bright investigative reporter at a Baltimore TV station are already starting to peel back the layers of Fairbanks Capital's schemes and are shocked and horrified at what they are finding. And as goes Fairbanks, so goes Ocwen and rest of the mortgage mafia. Don't be surprised when you see the fools that run these companies in front of Congressional investigation committees and in bright orange jumpsuits behind a set of steel bars.

Unfortunately most of the rebuttals are correct! As a Real Estate and Mortgage professional, Depending on the circumstances, how late, how much behind, how the orginal note reads, etc. you really only have a couple of options given the nature of the beast.

Late fees can be extremely expensive but just wait till they get their attorneys envolved!!! Need I say more!

If you have any equity worth anything in the home I would suggest that you refinance if possible regardless of the interest rate! Interest is tax deductable and this would get you out of their gasps for now and there is a good chance , depending on when you bought your home that the rate may even be comparable.

If you don't have any equity then I would suggest you put the home the market at slightly under the market price and present the best offer you can to them requesting they consider what is called a short sale.

Even though it might not meet what is currently owed, sometimes they will do this in order to save additional expense in foreclosing and it allows you to walk away scraped, but somewhat clean to repurchase in the near future vs long term, with no chance should foreclosure be inevitable. Feel free to post your questons below so I may help you ahd others.

Im really glad you planned for your unemployment(if your really unemployed). Its a darn shame you feel the need to attack the people who have been taken advantage of and abused by Ocwen. Your obvious ignorance to what your ex-employers are doing is shining thru. I guess we will see what happens when Ocwen has to pay the piper for their underhanded dealings. The people here are far from stupid. As a matter of fact, I believe they are very intelligent for keeping proof of what Ocwen has done and joining the lawsuit...Go gettem' Hanson vs Ocwen!!! It would appear we are smarter than you think. Good luck finding a new job...with a reference from Ocwen Im sure you can go anywhere. LOL

Im really glad you planned for your unemployment(if your really unemployed). Its a darn shame you feel the need to attack the people who have been taken advantage of and abused by Ocwen. Your obvious ignorance to what your ex-employers are doing is shining thru. I guess we will see what happens when Ocwen has to pay the piper for their underhanded dealings. The people here are far from stupid. As a matter of fact, I believe they are very intelligent for keeping proof of what Ocwen has done and joining the lawsuit...Go gettem' Hanson vs Ocwen!!! It would appear we are smarter than you think. Good luck finding a new job...with a reference from Ocwen Im sure you can go anywhere. LOL

Im really glad you planned for your unemployment(if your really unemployed). Its a darn shame you feel the need to attack the people who have been taken advantage of and abused by Ocwen. Your obvious ignorance to what your ex-employers are doing is shining thru. I guess we will see what happens when Ocwen has to pay the piper for their underhanded dealings. The people here are far from stupid. As a matter of fact, I believe they are very intelligent for keeping proof of what Ocwen has done and joining the lawsuit...Go gettem' Hanson vs Ocwen!!! It would appear we are smarter than you think. Good luck finding a new job...with a reference from Ocwen Im sure you can go anywhere. LOL

Im really glad you planned for your unemployment(if your really unemployed). Its a darn shame you feel the need to attack the people who have been taken advantage of and abused by Ocwen. Your obvious ignorance to what your ex-employers are doing is shining thru. I guess we will see what happens when Ocwen has to pay the piper for their underhanded dealings. The people here are far from stupid. As a matter of fact, I believe they are very intelligent for keeping proof of what Ocwen has done and joining the lawsuit...Go gettem' Hanson vs Ocwen!!! It would appear we are smarter than you think. Good luck finding a new job...with a reference from Ocwen Im sure you can go anywhere. LOL

You are definitely the right kind of person for their service department. In fact, with your attitude, I'm surprised that you weren't promoted to CEO of Ocwen.

Your diatribe about customer's stupidity has a familiar ring to it. I'm sure I must have spoken to you at least once when I still believed that the problem with Ocwen was just sloppy bookkeeping.

I will patiently explain to you that Ocwen is an immoral company with thousands of complaints against it. Usury, breach of contract, unjust enrichment, racketeering, illegal accounting procedures, etc., etc, etc! Yes, the account numbers were on the checks. Yes, they were sent in a timely manner and no, they were not posted in a reasonable amount of time or correctly. Ocwen did not make a mistake with these accounts. Their actions have been calculated so that they may collect outrageous attorney's fees and penalties. Ocwen creates a situation each time that can only result in default of the loans.

Most of us did plan ahead for emergencies. However, with the accounting procedures at Ocwen, that money was quickly depleted. As with most reasonable people, I thought it was just an accounting error at the beginning. But it is a recurring pattern of theft that is intended to bankrupt the homeowner.

Ocwen is not dealing with stupid, irresponsible people. Someone needs to explain to them that subprime loans are not substandard loans. Most of the people were placed in subprime by illness, death, loss of a spouse, etc. Not stupidity.

Could you do us a favor, former Ocwen employee? Please volunteer to be a witness in the Hanson Vs. Ocwen Class action suit. Once you testify, and the court sees the type of people that we have had to deal with, we could win our case in a heartbeat.

Have a nice day!

Hey look. I know that Ocwen isn't the greatest company to do business with but come on for god sakes!!!

You people are a bunch of winers with problems and are expecting a COMPANY to accomodate your every wish. Hey, you lost your job? Well, guess what? SO DID I AND I USED TO WORK FOR THE BASTARDS!

Did I contact my mortage company and complain to them? NO. You know why? Because I PLAN AHEAD for unexpected occurances such as LOSS OF JOB.

When are people going to wake up and begin taking responsibility for their OWN PROBLEMS????

OCWEN SUCKS, YES I AGREE. THEY ARE GREEDY AND THE MANAGERS ONLY CARE ABOUT FATTENING THEIR POCKETS WITH MONEY OFF OF THE SWEAT OF THE BROWS FROM THEIR EMPLOYEES. NO ARGUMENT THERE!!!

But that has NOTHING to do with YOU not paying what YOU owe YOUR CREDITOR which happens to be OCWEN FEDERAL BANK.

None of you people are married to Ocwen. If you hate them so much, do something about it! REFINANCE and PAY THEM OFF. GET RID OF THEM!

Some of you people are claiming that Ocwen held your checks for over 3 months without posting them??? When I worked there, thousands of payments would come in WITHOUT ACCOUNT NUMBERS ON THEM!!! DON'T ANY OF YOU CHECK YOUR STATEMENTS??? I mean, come on, people!!!

If OCWEN is guily of anything, it's servicing loans to STUPID, IRRESPONSIBLE PEOPLE with NO COMMON SENSE who don't know how to balance their check books or are too d**n lazy to pick up their phones and call their banks to verify payments!

If you want to protect yourselves on a go forward basis, THEN PAY YOUR BILLS ONLINE THRU A BILL PAYMENT SYSTEM AND IT WILL BE SENT ELECTRONICALLY TO OCWEN THEN THERE IS NO WAY OCWEN CAN SAY YOU HAVEN'T MADE A PAYMENT IN OVER 3 MONTHS. AND FOR GOODNESS SAKE, REMEMBER TO PUT YOUR LOAN NUMBER ON YOUR CHECKS!!!

YOU CAN'T IMAGINE HOW MANY STUPID PEOPLE SEND IN CASH OR CHECKS OR MONEY ORDERS WITH NO ACCOUNT NUMBERS! DUH! HELLO PEOPLE!!! WAKE UP!!!!

Jon is absolutely right. Normal chanels and routine ways to solve problems will not solve any thing with Ocwen Federal Bank. Why? Because Ocwen does not want to. On the contrary, they are to create problems, ON PURPOSE!. Anyone who deals with any aspect of Real Estate where Ocwen is implicated will find DARKNESS,.. DARKNESS. This is a very objective conclussion that can be reached using all empirical means you might want to use, since they do it in the open for the world to see. Stupid Ocwen!

I am for a constant PARANOIA state with this predator. However, combine paranoia with PATIENCE. It is, of course, very difficult, but Ocwen's tactics are aimed at destroying your patience. They accomplish a lot by mining people's patience.

Anyone who dels with Ocwen has several choices: You can argue with them (an exercise in futility). You can go to a lawyer that will cost you more than your mortgage/or home, if he is honest and hardworking (as needed), willing to devote all his working hours to your case (as needed). You can go with another lawyer or other agencies that Ocwen will buy (Ocwen loves to buy agencies and people!). Or you can decide that since you are acting in the right way you are going to live your normal life and cross your arms and then... that imminent day Ocwen has in mind for your homeless-to-be family will come, in the middle of the night, surrounded by that DARKNESS Ocwen's evil likes so much. Best thing to do: join the class action Hanson v. Ocwen in Hatford, CO.

Take a deep breath, realize you got yourself in the arms of this monster and accept it. Be realistic. (Pragmatism is an old and good American value) Once you you do this, the rest is easy: Just be PARANOID and PATIENT, and FIGHT until the end of this misery. It is not so difficult: think of your loved ones. Don't you love your family more than anything else on this earth? So, you are to protect them, or am I wrong? Whatever it takes, for how long it takes. The choice is clear: Ocwen out or your family out!

Never afraid.

Curtis,
I'm sure you're just trying to help but you should know by now that Ocwen has absolutely no interest in working out any kind of deal, especially one that would assist their customers in retaining their homes. They just want all the money that they can get their miserable little hands on no matter how wrong or immoral. Their motive is pure greed plain and simple. They have no conscience, no morality; no integrity, no honor. Nothing will stop them until they have taken all that they can and there's nothing left. That's my opinion.

Curtis, I realize your trying to be helpful but do you know who she's dealing with. She should review her mortgage contract before she proceeds with anything and perhaps seek some legal advice on how to protect herself, especially since she is so distraught. Ocwen is predatory! Especially if you tell them you are having problems. I speak from experience when I say they can not be trusted even to keep the simplest of promises, even in writing. She should be very careful and have an attorney go over anything and everything before she signs it. Good luck Kathy, it is good to have someone looking out for you. We will say an extra prayer for you and yours.

Dear frustraded

I am a general manager of First Choice Financial Solutions LLC. And I have been sucessful in resolving these types of situations for my clients. Althought our business is primarily mortgage brokers. We also act as advocates for our clients. One way you might be able to work out other alternatives are 1)like deferred payments? 2) forebearance programs for the arrearage? 3) Negotiated payments of arrears balance. Finally if you have a government spondsered programs the lender is obligated to work out a payment plan. Even if it means putting the entire arrears at the end of the loan or negotiating a new loan.

Dear frustraded

I am a general manager of First Choice Financial Solutions LLC. And I have been sucessful in resolving these types of situations for my clients. Althought our business is primarily mortgage brokers. We also act as advocates for our clients. One way you might be able to work out other alternatives are 1)like deferred payments? 2) forebearance programs for the arrearage? 3) Negotiated payments of arrears balance. Finally if you have a government spondsered programs the lender is obligated to work out a payment plan. Even if it means putting the entire arrears at the end of the loan or negotiating a new loan.

Dear frustraded

I am a general manager of First Choice Financial Solutions LLC. And I have been sucessful in resolving these types of situations for my clients. Althought our business is primarily mortgage brokers. We also act as advocates for our clients. One way you might be able to work out other alternatives are 1)like deferred payments? 2) forebearance programs for the arrearage? 3) Negotiated payments of arrears balance. Finally if you have a government spondsered programs the lender is obligated to work out a payment plan. Even if it means putting the entire arrears at the end of the loan or negotiating a new loan.

Dear frustraded

I am a general manager of First Choice Financial Solutions LLC. And I have been sucessful in resolving these types of situations for my clients. Althought our business is primarily mortgage brokers. We also act as advocates for our clients. One way you might be able to work out other alternatives are 1)like deferred payments? 2) forebearance programs for the arrearage? 3) Negotiated payments of arrears balance. Finally if you have a government spondsered programs the lender is obligated to work out a payment plan. Even if it means putting the entire arrears at the end of the loan or negotiating a new loan.

My sister-in-law last Aug.2002 recieved statement from Ocwen, where her account is and had stated that she was in jeoperady of losing her home. Said she was like 3 months behind.

July of 2001 my brother died, left her maybe like easy pickings to them. (I don't know, but when i read this,I wanted to find out more.So if someone could help out it would be greatly appricated.) Because my Mother and Father gave her the $5000.00 or $6000.00 dollars it took her to keep her home because they where going to take it away from her. 3 months behind there is no-way that 3 months and or late charges added up to that?????? But at this time, losing her husband and not being sure of what sisutation she was in.

I know this letter may not be what your looking for or if i even did this in the correct spot, but i'm very concern of her well being. Her daughter turns 18 next year and sos.,isn't going to be there for her to pay that $500.00/600.00 dollar month house payment that they raised it to, even after she paid the 5000.00/6000.00.

They (and i'm not real sure of what kind)told her that they increased the interest rates like 3 times in the year 2002, and all kinds of fees was added on????? Anyway if there is someone that could e-mail me with maybe some advise to give her, i would be so thankful.

Thank You Very Much for your time of reading this and please post any info...