Ocwen Federal Bank, Ocwen Realty Advisors, Ocwen Loan Servicing Non-payment for work requested Cedar Rapids Internet

What Ocwen is doing to consumers is bad, but what they are doing to real estate agents is equally bad, perhaps even worse. Ocwen lists foreclosure property with real estate agents and asks the agents to manage the property until the property closes with a new owner. Ocwen asks the agents to incur property expenses and to submit the bills for reimbursement.

However, to actually get paid for the reimburseable items, sometimes running thousands of dollars, the agent must make numerous phone calls and compaints. Many times there is no answer, only a message asking for the agent to leave a message and get a call back, which seldom happens. Ocwen looks for any excuse not to make payment, even though they have asked the agent to have work done on the property. The agents are asked to resubmit documents repeatedly.

After many months of delay, if Ocwen does make a payment, they deduct a fee from the amount due for the privilege of using their online system. Thus, the agent receives less than the amount spent to do the work requested by Ocwen. Ocwen prefers to make payments electronically to the agents bank account.

However, there is not sufficient information provided about the payment, so the agent cannot determine which orders have been paid and which orders have not, making followup difficult, if not impossible.

Jerry
Springfield, Missouri
U.S.A.