Report: #43532

Complaint Review: Ocwen Federal Bank - Orlando Florida

  • Submitted:
  • Updated:
  • Reported By: Augusta Kansas
  • Ocwen Federal Bank 12650 Ingenuity Drive Orlando, Florida U.S.A.

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My Ex-husband and I bought this house four years ago. Since then I have gotten divorced, been layed off 3 times and ALMOST lost the house in foreclosure. I have since been remarried.

When I almost lost the house 2 years ago, I set up a forbearance agreement with Ocwen. I have made my payments as agreed every since. The forclosure never went through yet I have been charged with over $10,000 in legal fees. I also was put on forced insurance due to missing 5 months of payments during my layoff. I went from making $50,000 a year to $19,000. This forced insurance is costing me around $900 a year and adding over $100 a month to my payments.

When I got remarried, they refused to change my name on the loan to my new married name even though I sent all documentation to prove that I had indeed changed my name. Because of the name being different than my new name as well as the fact they stopped making my insurance payments, I am blacklisted from getting my own insurance and hence have to keep paying their forced insurance. Apparently having your insuranced cancelled for non-payment of premium means you can never get insurance again. Also, insurance companies say that since my name is different and my ex-husbands name is still on the loan, I have no vested interest in the house so they can't insure me.

Every year I have to send updated financial documentation so they can figure what is a "reasonable" amount for me to pay on my forbearance agreement. This year I have sent the documentation twice. In the interim, in November I received two letters by mail and one by registered mail all on the same day saying if I didn't pay over $7,000 in arrears they would foreclose on the house. I immediately called them and the customer service agent said I was delinquent on my payments. I asked him to check again and he put me on hold for about 15 minutes. He came back and told me to disreguard the letters. They had received the documentation and a supervisor was sending it over for the forbearance department to approve my plan. About 15 days later, I received another letter asking for my financial information yet AGAIN! I immediately called AGAIN and asked what was the problem. They told me not to worry about it, everything was received and processed and fine.

Let me give you some figures here. I was 5 payments behind. My payments then were $767 a month. That's a sum of $3,835. I paid $2,200 down to be put on the forbearance plan. My escrow account shows a negative balance of $4,082.29. I have been paying $963.19 a month for 2 years to "catch up" my arrears and they are still saying I have over $7,000 on my forbearance agreement. When I asked why, they said it was the attourney fees and forclosure fees, and because of the forced insurance, my payments/overpayments were going toward the interest that had accrued.

After all of this, as you can imagine, I decided to refinance the house. Get my ex-husband's name off of the loan and get out of this hole called Ocwen. When the loan officer pulled my report, imagine my horror to find that Ocwen had put a forclosure against me as of November 2002!!! I came online to send a complaint to Ocwen via their website as it was too late to try to call and ran across this information about the lawsuits and all of the other people Ocwen has hurt. I don't know what I'm going to do. Obviously my complaints to the company will do no good. HELP!!!!!

Augusta, Kansas

This report was posted on Ripoff Report on 01/30/2003 09:10 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ocwen-federal-bank/orlando-florida-32826-2703/ocwen-federal-bank-bogus-fees-inaccurate-credit-reporting-forcing-insurance-threatening-fo-43532. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#10 Consumer Comment

Any news? about the class action against Ocwen?

AUTHOR: Dawnette - (U.S.A.)

POSTED: Thursday, July 21, 2005
Have we heard anything new about the class action against Ocwen? Are they ever going to have to answer for what they have done? In re-reading everything I have typed in the past, I wanted to clarify a few things. I originally stated I was 5 months behind...I wasn't truly behind, but Ocwen had me shown in their records as such. I had paid two payments to my original lender, but when Ocwen took over servicing, they NEVER showed those payments.

I actually was behind 3 months at one point when I lost my job but that was a year after purchasing the home. Over the 2 years of inflated payments for fees etc...I felt I had more than repayed that amount. Also, the reason my insurance had lapsed is because in my original loan agreement (which no-one but me has copies of now), my insurance was to be payed with the escrow payments but when Ocwen took over, they quit paying them...(because they didn't show the payments for several months even though I was making them)...and the insurance was cancelled for lack of premium payments. None of this really matters anymore because Ocwen got my house back and now whenever I have to drive down that street and see someone else living in my old house my stomache sinks. I understand that Ocwen is being forced to de-bank, but what does that mean for those of us whom have already lost our homes? Do we ever get any justice? Just a question. As far as thinking I'm a deadbeat that just couldn't afford to pay my bills and a below standard citizen who didn't deserve the loan or a home in the first place...I do have a home now, I make my payments on time every month for about the same amount as I was paying Ocwen, only now with a reputable company who isn't scamming me. I have lived here for 2 years and the house I bought before the Ocwen house I paid off in 17 years instead of 25 as the loan was for. I am no deadbeat and I resent the inuendo that I am. God Bless all of you who are still in your struggle with Ocwen and may you feel releif soon.
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#9 Consumer Comment

You may also want to check on a couple of the state laws

AUTHOR: J - (U.S.A.)

POSTED: Saturday, January 03, 2004
Dawnette - Suggestion:

You may want to compare the dates on your credit report with the dates you see on your original loan docs you signed at closing. Your credit report may show that the account with Ocwen closed in May since that is when FC proceedings began on your acount. You may also want to check on a couple of the state laws KS has for FC proceedings to answer some questions such as: How long is the period in between the lending company filing FC proceedings and the date the home goes to sale? How long is the eviction process? And how will this effect my report? You can find this information in a law library or you can contact an attorney in KS.

As for the dates your loan opened, Dec 1998 compared to May 1999, again compare those dates to your original loan docs and contact the credit reporting agency if this is incorrect. The credit reporting agency should be able assist you.

Ocwen is a loan servicing company which services loans for other companies. Ocwen will show that you opened your loan before the date the loan was serviced by Ocwen. (I know it's pretty confusing).

Your loan only decresed by a small amount because 1. You stopped making payments. 2. You must have a high interest rate on your loan. You're paying almost all interest every month with a very small portion going to your principal balance.

I hope I answered some of your questions and I hope you can get some use out of the information I provided. Happy Holidays Dawnette.
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#8 Author of original report

Now this is ODD??!! I decided to let the house go back to the bank and they foreclosed in November.

AUTHOR: Dawnette - (U.S.A.)

POSTED: Friday, January 02, 2004
As I said before, I decided to let the house go back to the bank and they foreclosed in November.

Today I received a copy of my credit report. It shows that as of May of 2003 my account with them is closed and my past due amount is $14,773 it says paying or paid as agreed and foreclosure initiated.

So my account was closed in May when I was still living in the house (I moved out in July) yet the house was sold in foreclosure auction in November?? How does that work? It shows as of October 2003 my balance was $79,126 and the date it was opened is December of 1998 where the balance at that date was $80,900. Then it says closed date May 2003. I'm confused.

Not to mention when I first got the loan under National Mortgage Corporation The amount of that opened account was $80,900 It was closed in May 1999 with the status of paid or paying as agreed in prior 5 months never late. So how? did I open a loan in both banks in the same month for the same amount yet one shows delinquent and the other shows paid in the first 5 months. Also in 5 years of making my payments my loan only decreased by a measily $1,774.00? This makes absolutely no sense. Ocwen did NOT have my loan in December of 1998 how can they say it was opened with them then?

GRRRRRRR im so confused now. Just thought I'd see if anyone else can make sense of this.

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#7 Consumer Comment

Why is Wells Fargo involved now?? ..These monsters must be stopped.

AUTHOR: Dawnette - (U.S.A.)

POSTED: Tuesday, September 02, 2003
Okay, although I do not post on here alot, I do keep up with the report and watch what is happening with the court case. God bless you Mr. Hanson! God willing, we will hear something soon.

Now I have a summons from Wells Fargo Bank Minnesota, N.A., as trustee for Saloman Brothers Mortgage Securities VII, Inc. Floating rate Mortgage Passthrough Certificates, series 1999-3 through its attorneys Neill, Terrill and Embree, L.C., that states I have 20 days to answer the foreclosure summons (I have decided to let the house go back to the bank. No matter how much money I have thrown at them they will not stop and I have not the energy or desire to fight them every day over every payment) Now the 80,900.00 note that was signed in 1998 has climbed to 96,761.29 as of August 2003. So after all of the escallated payments I have made in the last 4 and a half years, and all of the heartache and headache I have endured at the hands of Ocwen Federal, I still have absolutely no equity and owe a fair bit more than I borrowed.

These monsters must be stopped. Where does the chain of banks end? Who is my loan truely with now? Do the consumers have no right to know these things? The last time I talked to Moss and them, they asked me to make the sum of 3 payments to them up front and then I could continue to make monthly payments and keep my house. I asked at that time, "Keep paying my true monthly payments? Or the over inflated ones I have been making for the last two years (remember this was because I was 3 payments behind). They said "Just your regular monthly payments." All I could do was laugh as we all know that was the biggest joke I had heard in a long long time. I told them I would call them back when I decided what I intended to do. Packed my belongings and moved out. You win Ocwen you can have the house, but lets see who gets the last laugh when you are all finally FINALLY held accountable for your actions.

I continue to watch and to pray for all those in Ocwen's grasp as well as myself. I applaud all of you with the strength to continue the daily fight with Ocwen and empathise with you all whole heartidly. I appologize for my cowardice in giving up my fight but my health and sanity just could no longer endure. I have sent my affadavid to Mr. Hanson long ago. God be with you Mr. Hanson.
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#6 Consumer Suggestion

Ocwen plans forced insurance,

AUTHOR: Marlene - (U.S.A.)

POSTED: Wednesday, March 19, 2003

You now, you are wrong. My mother and my sister gave me our family home as a transfer. I needed a new mortgage under my name to pay off the old balance (I am cash poor and equity rich. I endure the misfortune of being one of the many Ocwen's favorite borrowers).

To fund the new loan under my name Insurance was a prior requirement. I paid my Homeowner's Insurance before signing the Lies in Lending documents Ocwen's friends gave me. I had the receipt. They had it.

During several weeks I called my agent many times because he needed to send me the new policy who was supposed to have my loan number (tricky Ocwen Satan!)in it to be valid for Ocwen. The Florida DOI told me that it's not legal (of course, because Ocwen was going to change the number to make my expensive new policy invalid).

Then, I started to read this Golden, excuse me..I mean, this Diamond RipOff site, and my mind received a very needed education about your wonderful DisServicer Ocwen Hell and guess what....I got the terrible letter most of us know so well: the one asking me to show proof of insurance because they were ready to force insurance (bad and more expensive) to add a new amount of misery to the one I had beeen carrying on my back since the day I signed the closing papers for their paid liers.

Guess what, J, I called Ocwen's Insurance Department and the rep offered to establish a conference call between him, my agent an me (fishy offer, very fishy). But the rep. did not know that I had contacted my agent previously (I am very intuitive) to let him know that the FL DOI was studying my case and the FBI too. So, my agent said to him, over the phone, and I heard it, that he had sent me my original policy long time ago, covering the mortgage since its beginning. Prudent man my agent. He made the mistake of sending me three envelopes with the same policy the next day. (3 envelopes! That nice man will not be my agent anymore, just because he did that)

I'll tell you more, J, I happily sent the very well known letter from Ocwen to the FL DOI with another letter from me stating: "You see how right am I about this Predator! They just sent me the letter I told you about before. I was expecting it and it came in the mail to prove how right I am about this tricky criminal!"

The Insurance rep. faxed me a letter telling me that everything was OK and that it had been a mistake. Did I believe it? Of course, NO, J!

Also, when the honest borrowers don't know the many Ocwen's crimes and its perverse habits in all the aspects of Real Estate DisServicing they get trapped in tremendous amounts of money they had never expected to pay. Because your lovely Ocwen plans, J, are: forced people into bankrupcy and eventually fore closure. Then, they sell the houses to those "honest" investors waiting to have them at a discounted price.

J,I noticed your tone is not offensive; but you offend us all when you assume we get our troubles because we are irresponsible homeowners who never pay our bills.

I don't know who you are but I know who I am, and because of that, I know that all my sisters and brothers (because we are all in jail, prisoners of Criminal and Despicable Ocwen, we are all sisters and brothers) experience the same things I am experiencing with that company.

A roof is sacred, J. Human beings need shelter to live, love, work, nurture and protect their families....everything. Our Home is our first Church. It has been so since the Cavemen's times. You don't play with human shelters, J, it's a SIN. It is the most abominable SIN. See, J, you can loose money in Wall Street or in any business.. if you have a place called home where you can go and talk about your problems, if you can hug your wife/husband, if you can see the smile in your children's face, if you can stand at the window and look at the rain/snow and know you are at home, dry and warm, with your loved ones to laugh or cry, it doesn't matter, no one will take away from you the right to get out again the next morning and fight for your life and your future, starting from zero again if you have too.

If you don't have a family you may be have a dog to pet who comfort your sad heart. If you don't have a pet...if you live completely alone, you have those familiar walls, the phone conversation with that old friend that understands everything, the TV show that makes you happy for 30 minutes, the soothing cup of tea, your bed, the only bed you like to sleep on, because you have that unique roof, J, YOUR HOME.

More than Money, Ocwen takes time from us, the time of our life, since we have to spend our free time in a constant alert state! It would be better to spend our free time reading a good book, having dinner with a dear friend, or having a walk with a significant one. We might go to the movies, practice sports, or take some classes. Some of us would like to work as volunteers for a hospital or for the homeless...the homelesss!...Ja, Ja, I used to have plans to work for Camilus House, a shelter for the homeless very famous in my city...ja, ja,....What an irony! Now, I think all the time of my "Ocwen's pre-planned homelessness" and instead of tending the homeless, I dry the tears of my deppressed little mother, a little lady with red hair and the true green of the mediterranean in her eyes. I am short and she is smaller than me. I look at her tiny hands,.. they have worked so hard and so much for my sister and me! ( my father passed away when I was a baby) and mother never remarried because she "loves her husband who is waiting for her in another plane". She wanted me to live by her side in her old age. She wanted to leave the house to me and her grandchildren so "she can live and die in peace". She was always happy. Her nature is so gentle! Now, J, I see tears rolling down in her sweet face. That joyful and glorious mint of her eyes is gone! Each time I see that sad glare in her eyes, I declare before God that Ocwen will pay for that, and for all the sufferring, grieving and misery of my fellow Amricans.

NO defense for criminals of that type, J, NO WAY!

J, we, unvoluntary Ocwen's DisServiced borrowers, deserve respect. We don't need your compassion. But if you don't know or refuse to know the reality, OUR REALITY. THE ONLY REALITY OF OUR FATE BECAUSE A CRIMINAL INSTITUTION CALLED OCWEN FEDERAL BANK FSB, I advise you to be smart and keep your mouth closed.

Never afraid.
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#5 UPDATE Employee


AUTHOR: J - (U.S.A.)

POSTED: Tuesday, March 18, 2003

I am sorry for your unfortunate experiences with Ocwen Federal Bank. I do know that Ocwen sends several letters to their borrowers advising that they need to send a copy of the Declaration Page from their personal insurance company to show that they have homeowners insurance on thier home. If a copy of the Declaration Page is not sent to Ocwen within an alotted period of time, Ocwen will add "Forced Placed Insurance" to your policy and you will be responcible to pay for the insurance until you get your own. Sometimes, the borrowers have no choice but to keep the Forced Placed policy as they can not get insurance through other companies for specific reaseons. If you have your own insurance provider, please fax a copy of the affidavit to Ocwen.

In ref. to your inquiry about the forbearance plan you have set. I may be able to find someone that can assist you and give you straight answers. I do not work for Moss Codilis, but I know a lot of people who do and are good at what they do. I am truly sorry for the misfortune you have had with Ocwen Federal. If you would like to reply and advise me of who you have been dealing with, with Moss Codilis, I can assist you as best I can.

On, the other hand... I do agree that the late charges and attorney's fees are outrageous and Ocwen should understand that the reason people get behind with their payments, is either because they have had misfortunate experiences in their lives or they simply can not afford to make the payment every month. If a borrower can not make their regular monthly payment, they will surely not be able to make the outrageous forbearance payments.
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#4 Author of original report

More News

AUTHOR: Dawnette - (U.S.A.)

POSTED: Sunday, March 02, 2003
Ohkay here is some more news I just found out yesterday when I talked to Ocwen. They told me the reason I had received these letters from their lawyer is because someone "forgot" to put in 12 months and only put in 2 on the forbearance agreement that was instated on December 25th. And now that this term was over they had to put me on a complete new one. They already have my March payment mind you and they say I have to make another March payment as a downpayment on the new forbearance agreement as well as pay another payment by April 1st.

When I asked about my escrow bal again, I was told that they were paying over $1000 a year for taxes and insurance yet I was only paying $96 per month toward this. I then asked why the escrow bal in December was -$4,000 and they paid my taxes in December of $1000+ but in January my escrow bal is now $-3,000 as well as the fact that my 1098 for 2002 shows my escrow balance to be a positive amount. I was told that it was definately not because the amounts reported to me should be positive amounts but that they could not explain why this had happened. The rep flatly said "I don't know".

So...I asked to speak to the supervisor who was putting me on this new "plan". She told me I should be grateful I am getting to keep my house and that this was the only way they could reinstate my forbearance agreement. I asked her why I should be punished by having to pay double payments in March because someone at their office "forgot" to put a 1 in front of the two on my last agreement. She said she had no idea what I was talking about because since I was in default of my original loan they are charging me late fees every single month, I am still 4 payments behind and being charged a late fee on each one of these payments every month, that they will continue to report every payment as late, and that this forbearance agreement was never "intended" to help me get caught up it was only put in affect until I could save the money to pay it in full when my financial situation got better.

She says that before the 12 months end on this new forbearance agreement, I have to pay $7,800 + in addition to my normal payments because they cannot put me on another and with all of the late fees they are assessing I have over $1400 in late charges as of right now. She also told me that what they do with the overpayments I make each month is hold it into an account until the money totals a complete payment and then they apply it to first available defaulted month they can in the meantime they continue to charge the late fees on each one. She said I am in default of my original loan that the forbearance plan makes no difference they look at the loan as still in default so basically just pay it and shut up.

I told her if Ocwen had just done their job in December and didnt "forget" to put a one in front of the two ont he forbearance agreement we wouldnt even have had to had this conversation, I wouldn't have to make an extra payment in March and I wouldnt have heard from their lawyers. She said pretty much tough this is how it is and you just have to pay it. She did say that I could just make Aprils payment some time in April that it wouldnt have to be there by the 1st. LIKE IM GONNA BUY THAT ONE! HAHAHA! She said I might get a friendly reminder phone call that I am late but since they report me late every month anyway why does that matter? GRRRRRRR Yes I followed this all up in writing to the company to help with my paper trail. Just wanted ya'll to know what had been said about the late charges, the forbearance arrangements, etc....

Thanks for listening yet AGAIN!
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#3 Consumer Suggestion

Dawn, file a complaint with the feds

AUTHOR: Anon - (U.S.A.)

POSTED: Saturday, March 01, 2003
Hi Dawn--

File a complaint with as many regulating agencies as you can track down. Write one letter and submit it to the Attorney General in your state, HUD, the banking regulators for your state and the national banking regulator (Office of Thrift Supervision, Federal Reserve Board, etc.). Not all agencies will have jurisdiction, but by sending multiple copies you have a better chance of landing a copy on the desk of the right office.

This company is in violation of "the Fair Credit Reporting Act". They are a predatory lender, and this kind of tactic is fairly common for predatory lenders. Do an internet search under "predatory lenders" "fair credit reporting act" and look up the HUD page to see your rights as a borrower (www.hud.gov).

Contact www.naca.com to see if they can help you with a refinance. NACA is a non-profit agency, and a lot of their money came from the settlement against the predatory tactics of Fleet Bank several years ago.

As you can see from this site, you are not alone in your fight against this company. Start documenting and file complaints with copies of your payments and the copies of the lawyer letters.

At some point you will most likely be collecting punitive damages as well as actual damages from this company, but sometimes that takes a while as the case grinds through the legal system. In the meantime, save your house and get out of their clutches if you can.

Good luck with it!
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#2 Author of original report

The Saga Continues

AUTHOR: Dawnette - (U.S.A.)

POSTED: Friday, February 28, 2003
Ohkay, I am really starting to get angry. When I got home today guess what I received? Another three letters all exactly the same one sent return receipt requested from Moss, Codilis, Stawiarski, Morris, Schneider & Prior,LLP!

They now want $7,782.99 before March 31, 2003 because they say I am in default of my forbearance agreement.

They have already posted my March payment and my next payment is due April 1! I'm not even late!! But, ofcourse its Friday night and nobody's in to accept my call.

I again sent another e-mail so I can get a response with more paper trails back to them. But ARGGGGGGHHHH they are making me a lunatic! Please Please Please God, please listen and kill these bastages! :) Thank you for your attention.
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#1 Consumer Comment

RTC Morgage Trust

AUTHOR: Dawnette - (U.S.A.)

POSTED: Friday, January 31, 2003
If the federal audit of Ocwen in February of 1999 hasn't been solved yet, can we really expect that our problems will be solved any time soon?

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