Report: #318559

Complaint Review: Ocwen Federal Bank

  • Submitted: Mon, March 17, 2008
  • Updated: Mon, March 17, 2008
  • Reported By: orlando Florida
  • Ocwen Federal Bank
    Orlando, Florida
  • Phone:
  • Web:
  • Category: Banks

Ocwen Federal Bank Who's Watching Ocwen? Orlando Florida

*Consumer Suggestion: US jobs being sent overseas

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First I would like to say I am an employee of Ocwen Federal Bank so I know what goes on inside the walls of the REO division located in Orlando Florida. In my opinion, based on my many years of employment and eye witness accounts, I believe Ocwen Federal Bank is corrupt to the core and their entire culture is based on corruption. Unfortunately Ocwen is also responsible for liquidating foreclosures for the United States Department of Veterans Affairs.

During my employment at Ocwen I have witnessed a flagrant and may I add arrogant disregard for the law, the American public and Department of Veterans Affairs. Mike Moreland who is also a complete buffoon has run the VA REO Department and regular REO Dept. at Ocwen Federal Bank as his own little investment club. He and a select few of Ocwen employees have used the REO departments including VA to obtain kickbacks from real estate agents all over the country. I can only imagine that the kickbacks range in the tens of thousands if not hundreds of thousands.

Those employees in charge of distributing the assets and liquidating the assets often referred to as Residential Sales Managers receives these kickbacks from participating real estate brokers all over the US by way of P.O. Boxes that have been set up to help conceal their crimes. Most of These Residential Sales Managers are not licensed real estate agents or brokers yet they illegally accept commissions from Real Estate Brokers and in return these Real Estate Brokers are provided with the bulk of the most favorable VA and regular REO listings which are the ones in the best conditions with favorable pricing.

I have witnessed RSM's disclose to brokers and investors willing to pay kickbacks, the minimum bids for these properties and I have also seen RSM's ignore higher bids to sell properties to preferred brokers and their clients in return for kickbacks. I have seen RSM's use tax payer money provided by VA to fix up properties so these properties can be purchased by friends in return for kickbacks and I have witnessed RSM,s turn around and purchase these homes for themselves and later sell them for huge profits. The third party purchasers are used to conceal the fraud, however if you know what properties were sold you can follow the public records and see that the properties changed hands more than once over the course of a few months and were ultimately purchased by an RSM that works for Ocwen. Honest Real Estate Brokers who do not agree to pay illegal kickbacks will get few or no properties to sell and the ones they do get will be the hardest to sell properties because of condition, location or price.

This has been going on for many years at Ocwen and when I/we first approached Mike Moreland about the suspected fraud we were told to mind our own business. We were also approached by the RSM,s committing the fraud and told to keep our mouths shut if we know what was good for us. Those of us who have already resigned from Ocwen because we were tired of the ongoing corruption and favoritism have been giving bad or no references by Ocwen when we applied for jobs elsewhere and have been blackballed from the REO business by most Major REO companies and Banks.

Recently several of the employees at Ocwen were let go after enough people complained about their corruption however with the help and support of Mike Moreland and Ocwen these corrupt employees have been able to obtain secure high paying REO jobs at the very same REO companies and Banks that have participated in the blackballing of honest REO managers. . I have no doubt that Mike Moreland himself and others have profited from this illegal activity for many years. Why else would he ignore the fraud and tell us to mind our own business. Shame on VA for giving a government contract to a company that has been sued and is under investigation for so many crimes and injustices. And shame on thos REO companies and Banks that have blackballed so many good and honest REO managers and employees.

Is our Government, Banks and Justice system completely indifferent to Justice or are they just for sale to the highest bidder. I will soon leave Ocwen because I am sick of lies, the deceit and the fraud. I would also like to add this note to my comments. Shame Shame Shame on our Government and the Department of Veterans Affairs for giving a government contract, paid for by hard working American taxpayers, to Ocwen Federal Bank who has an entire and very successful department I might add, dedicated to helping American corporations send American jobs overseas. Let me ask you this corporate Geniuses, what are you going to do when Americans can no longer afford your products and services because you sent all of our jobs overseas?

orlando, Florida

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#1 Consumer Suggestion

US jobs being sent overseas

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

Although I question any responses from Ocwen employees I want to comment on your last comment. When will corporate America realize that the globalization of American economy is going to be the end of us. How can we pay our mortgages on our homes in the USA when all of the jobs are being sent to India/Asia/Phillipines so the companies can make tons of money by paying them pennies? The customer service is terrible and to call it a "service"is a joke. Its a disservice. And its disgusting knowing that I pay social security each month as does my employer when I know full well its not going to be available to me when I retire in a few years because there will nothing left! Its not right. After multiple request to speak to the US I finally went off the deep after sending in proof after lost proof and NEVER being able to get the same person on the phone I said I was going to call the President of the company and suddenly I am speaking to an American manager. I made sure I got their name and number, no more hiding and to my surprise what took 3 months of fighting about was fixed in a week. Maybe I got lucky but just a suggestion.
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