Report: #387377

Complaint Review: Ocwen Federal Bank

  • Submitted: Mon, November 03, 2008
  • Updated: Mon, November 03, 2008
  • Reported By: Orlando Florida
  • Ocwen Federal Bank
    12650 Ingenuity Dr
    Orlando, Florida

Ocwen Federal Bank Ocwen has no respect for its employees Orlando Florida

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In 2001 I worked for Ocwen as an REO Sales Manager and it was an utter disaster. I was charged with selling non-performing residential properties in a 9 state assigned territory across the country. In the six months I was there I watched as the company berated loyal employees who fought hard to stabilize the assets, get BPOs, hire brokers, list the properties and sell the assets in a timely fashion. Employees were rewarded with ever changing pay policies, unrealistic attainable goals resulting in no performance bonuses being paid out. I took note that a considerable amount of outsourcing was done to people in India and elsewhere and the company apparently managed both domestic as well as overseas employees to handle the sale of real estate assets. In 6 months I was able to move $2 million of properties at prices averaging 90% of appraised value typically within a 90 day timeframe. My reward was no bonus, a call from HR telling me to come to their office at which time I was terminated for vague reasons. This organization has no business in being charged with the disposition of ANY real estate held by bank-owned but now government held assets. My understanding is that it has gotten worse and the communication within and outside of the organization is terrible.

Orlando, Florida

This report was posted on Ripoff Report on 11/03/2008 08:09 AM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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