OCWEN FEDERAL BANK Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported

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26, Report #118055
Nov 15 2004
08:17 PM
Ocwen Federal Bank ripoff Orlando Florida
Ocwen Federal Bank. STAND UP AND FIGHT. This rip off lending instatuion has started forcloseur on my home. Each payment was sent with a signed reciept. Yet my payment was posted 28 days later with late fees, and interest. I was paid up ahead by three payments when they started forcolseure. I contacted the U S Treasure's office, they sent my complaint to the OTS office in New Jersy. Ocwen has tried to correct the problem if I would drop my complaint with the OTS. I'm now wanting join a class action suit Frank Nampa, IdahoU.S.A.
Entity: Orlando, Florida
27, Report #24617
Jul 14 2002
09:57 PM
Ocwen Federal Bank ripoff Orlando Florida
When I worked for Ocwen Federal Bank, they would post payments incorrectly...One check for two accounts would go to one account and we would charge a late fee on the other acocunt. When we would buy mortgages, record holders would not be informed. When we bought the first simple interest loan, we did not know how to compute the interest. We had a lot of problems with incorrect interest being applied to accounts. We had to check with another mortgage company to find out how to handle these new loans. The vice president and Tom Gilmore did not know how interest was figured until a supervisor told them. Not very informed. We did not have availability to files because when we bought loans, the previous servicer or Ocwen did not notify the record holder of the change. This caused a lot of hardships with the mortgage holders. Bruce Orlando, Florida
Entity: Orlando, Florida
28, Report #22530
Jun 11 2002
07:56 PM
Ocwen Federal Bank is a ripoff. Orlando, Florida
Financial terrorists: When will enough be enough how long will these undercover terrorists be allowed to operate among us? Using our resources and laws against us in the name of business. With all the other type of threats going on from foreign sources, what we don't need is predator loan companies like Ocwen Federal being allowed to operate among us, waging war on the public consumer/homeowner's. Why is it that when you ask them for a pay-off figure they panic? Could it be that they are so confident in their arrogance and con games? That they service or purchased our mortgages at a high rate of risk. That for us to pay what we owe off would leave them so far behind that they'd do anything to rip us off, or do anything to keep from losing the money they planned to get from us. Why else would more legitimate banks and lending institutions be willing to eventually be exposed as sell-outs of the people who they are doing business with? Risking future profits, if it where not so easy to sell your mortgages at a very high rate to these kinds of predators. Don't think for one minute that they, the banks and lending institutions don't know what these predators have planned for us. If you research Ocwen you will find they consider themselves as specialist in asset recovery. These are not common mistakes on everyone accounts, these are deliberate tactics used to defraud and deceive the homeowner's. In these trying times there are more and more people who are doing their best to pay their bills and maintain good credit. It's true we may lose some of our credit rating for a while, or run into some problems, but who in the hell gave them the right to treat and prey on us like we lost our rating as a citizen. For them to treat us like criminals is criminal. We have a right to protect, secure and defend our property. If you study and notice all the complaints, they have a pattern. These are not isolate incidents or mistakes. They try to entrap and get us caught up and entangle in a web from the insurance scam to the forbearance plan, constantly adding on outrageous fees. As consumer's/homeowner's we have the power to take actions through our purchases, it's called economic awareness and power. We should not support anyone who supports financial terrorism directly or indirectly. You may not feel like you have any power after what they have done or are trying to do to you. But you do, one aspect of it is called the power of awareness. The more complaints and problems you read, you come to see and know this is a bigger problem than we even imagine. Delta Funding a financial predator was exposed and sued by the government:(http//www.fte.gov/os/200/03/deltacomp.htm). The same will be with Ocwen. Ocwen Federal was the Loan servicing company for Delta Funding, who was sued by the Government. Delta Funding is known as a predator loan company, who had to give money back to the community for their wrongdoing. Getting others to know what has and is being done to you and what could be done to them if they do not act now, before they're attacked, is the power you have and need to fight back. Financial Predator's are no more than legal loan sharks. Sounds more like Tony Soprano and his crew. I guess I shouldn't insult the Soprano cast by associating them with such a low-rated companies like Ocwen Federal. Who are these people? What are their true intentions? Who are their known affiliates? Is greed their real intention or is there another motive? Are they after more, like our faith and trust in the American system and way of life? Are they serving someone or something that is trying to keep us from developing our faith and trust in God? The very thing that is used to try to destroy our faith is the very thing that will be used to develop it. Many good people do make mistakes and fall short of the mark, but that does not mean that God can not or will not continue to pick them up if they are really trying to get up. It also means that no one has a right to come along and rob them in the name of the law. One of the many things you can do is to make sure that you learn the laws you need to know pertaining to your situation, know your rights and the laws they are trying to use against you. You don't need to become a lawyer to do this, but you do need to learn it so that you don't let other's use it against you for their benefit. Don't depend upon your lawyer to do everything or even care about your out-come like you do. They cannot, because they are not you. And let's face it they are getting paid, they do have other client's and they are only human. There is a verse in the bible that says, my people perish for the lack of knowledge. Remember predators prey on anyone in a weak position, their goal is to find or create weakness and exploit them. The first position of weakness that they find you in is the lack of personal application and knowledge of the law. This is exactly what the terrorist did on (9/11), look what happened. These Financial predators want you and I to believe that our courts, government and even God can't stop them? They are wrong. As far as I'm concern there is a greater evil and threat at work here that needs to be address by all Americans. Not just those whose homes and lives have become like private ground zero targets of these financial terrorist. We all know that no matter what the terrorist of (9/11) call Gods will, their acts were not God inspired, it's not hard to conclude what spirit did inspire them. Everyone who has come under attack by these financial terrorists should be contacting all appropriate local law and government agencies that has the ability and responsibility to stop these terrorists. On (9/11) the first plane that hit the first tower had us thinking it was an accident, the second plane confirmed it was not, the third and fourth planes should have left no doubts. This is how you should be thinking about what you are going through with these financial terrorist, the attack is real. File official complaints, lawsuits, and class action suits. Create legal recorded trails. They have been defeated in other cases and States, they will continue to be defeated, no matter what name they use or where they move. Don't let them have the opportunity to do to others what they have done and/or are trying to do to us. If you knew about the terrorist who where planning the attack of the world trade center, would you think it to be too much responsibility to warn other's, especially your family, friends and community? You are not as powerless as they want you to believe you are. Contact every political official from your local councilman to the President of the United States. Promote the message to those who are potential targets. Right now that's every homeowner who has a mortgage that can be sold. Most of all pray, before and after you do, then stand in faith, know and trust the power of God over all the goodness and destiny of our country. For those of you who may not have any particular faith group, you can request for a prayer group to pray with you for guidance and strength. There are lots of prayer groups you can contact on the Internet and put prayer request in. Contact them all and ask that they stand in prayer with you about any of your life's issues. You can also ask them to promote this awareness about what these financial terrorists are doing. Ask them to warn their churches, it's members and every group and person that will listen. Give them the address of the rip-off report web site and any others. Let them know they don't have to get behind in payments for their mortgages to be sold, it can happen anyway. Once it does, they become potential victims of this con game. Don't over estimate the power of your enemies, and never underestimate the power of God, yourself, prayer and the true human and American spirit. If it's true that God does not let us bear a burden we cannot bear, then it must also be true, that this burden is God's way of showing us that we are not only capable of bearing it. But we also have the ability to defeat the enemy who brings the burden. They got game, We got God! They know, the game, We know, God! They love and trust the game, We love and trust God! They prey on us, We pray to God! In games you can win or lose, In God you never lose! Phil & Carol Teaneck, New Jersey STOP! ..before you think about using the Better Business Bureau (BBB)... CLICK HERE to see how other consumers were victimized by the BBB's false or misleading information. Don't be fooled! It has been reported, when there are thousands of complaints and other investigations underway by authorities, the BBB has no choice but to finally give an UNsatisfactory rating to a BBB member business that is paying the BBB big membership fees every year. When a business is reported that is NOT a BBB member, BBB files WILL more likely show an UNsatisfactory rating, then reportedly shake down that company to become a member of the BBB. One positive thing about the BBB is, either way, if a business has an unsatisfactory rating with the BBB, you can be sure, the business is bad. But what about all those BBB member businesses that had complaints filed against them? Consumers never get to hear about them. What about the BBB advertising to the public? Is this a false and misleading perception they are giving about consumer confidence when dealing with a business? Click here to understand more of what consumers and business alike are saying about the BBB. You decide. ..Remember. The BBB membership is not earned, it's paid for! Click here to read other Rip Off Reports on OCWEN Federal Bank Financial Services
Entity: Orlando, Florida
29, Report #34964
Nov 12 2002
04:56 PM
ocwen federal bank ripoff Florida
This company is the worst company I have ever dealt with. They have losted payments, they have forced insurance, over $2100.00 for a $50,000. loan. They have cause me to refinance at a great expense to get away from this kind of mortgage practice. I work for a wonderful mortgage, and its hard for me to understand a company in business many to distroy your dreams. How can a company continue in business with some of the wrong doing to the homeowner, I now feel Ocwen is known for. I will continue to try and get back all the money this company has stollen from me. Thank You hester Simi valley, California
Entity: Nationwide
30, Report #44633
Feb 08 2003
09:51 AM
Ocwen Federal Bank fraudulant ripoff artists Orlando Florida
My mortgage was sold by Aurora Loan Services to Ocwen without anynotification to me. When I called to arrange a payment, I was given an amount and a due date. I sent in this money only to get my check back in the mail telling me to call them. When I tried calling I was directed to the legal dept - Mr. Jim Coffey and told that I was in foreclosure. I originally owed 2 months payments. Now I had to send $4220.17 that day by western union or wire transfer. I sent this money by wire transfer. I am in the process of refinancing and found out that my check was refused the same day they received the payoff request-coincindence-I don't think so. Now I cannot get them to post any of the monies I've paid and they now show me 4 months past due plus tons of other fees. I can't get a clear payoff even though I am being told I am 100% current and owe nothing til 3/1. I get the runaround between OCwen customer service and Mr. Coffey in the legal dept --both blame the other one for not doing their job. I even had the Utah Div. of Financial Institutions give them a call. I can't get any where with them. I had no prepay penalty with Aurora and now have a 4 mo interest prepay. HELP>>> This company is a fraud and is trying to rip people off. Lori Taylorsville, UtahU.S.A.
Entity: Orlando, Florida
31, Report #10946
Jan 08 2002
12:00 AM
Ocwen Federal Bank Ripping you off? Payment Scam Uncovered
8 months ago, my Metwest mortgage was bought out by Ocwen. Every month since they have taken over, my payments have taken on average of 10 days to post to this account and on two occasions, have been late. I can empathize with those who have received the harrassing phone calls. I make all my payments via electronic bill pay through my bank. All other payments are received in 3 days, some the next day. So why does it take Ocwen so long to get my payment. I started doing some investigation after my Dec. 2000 payment was posted one day after the grace period expired. Although Ocwen is a bank, they do not have an electronic payment method, so my electronic bill payment from my bank actually has to be hard copied and send via the USPS. Ofcourse, no one at Ocwen informed me of this so I could make other arrangements. Secondly, the payment address in Los Angeles, CA. is not received by Ocwen. It is received by a third party who processes payments for Ocwen and then forward the payments on to them at a later date. The claim by Ocwen is that this company posts the payments the same day the receive them. The problem with this is there is no way for the consumer to verify this. So, when it comes time to investigate ones late payment, there is no way to verify what date the mail actually was received. A final note, isn't it odd that the Ocwen people are aware of this problem and that all their alternative methods of payment include extra fees to the customer? Something definately stinks here and I would join a class action lawsuit to find out what is really going on here and to get back my $228.38 late fees for Dec.
Entity: Mesa, Arizona
32, Report #26591
Aug 10 2002
11:29 AM
Ocwen Federal bank ripoff fraudulent business Orlando Florida
I worked for Ocwen for 7 months and I had worked in the mortgage business since 1990 and have never seen a company not follow RESPA (Real Estate Settlement Procedures Act), like Ocwen did. I was a supervisor in the call center and to put out fires all day and try to get the other departments to try and fix the loans. That process was like pulling teeth and the upper management didn;t feel that I shuld be pushing that hard to get things done. but these poor customers were being ripped off and nothing was being done.. 1. When we acquired loans they should be analyzed within the first 60 days if they had not been analyzed by the prious company. That was not done. We had loan that we had not analyzed in 3 years. since they had changed systems the new system would not work to analyze account and when it did it was incorrect. 2. Simple interest loans. we acquired 20,000 loans from a company that were simple interest loans. Nobody up to the president Scott Conradson new how to aply these loans and we didnt have the notes. I had been in the mortgage business long enough to know and tried to advise them and they said they could be different. However, our cashiers dept or the system was able to apply these loans correctly. Therefore, loans from 5-2001 that came to us as simple interest loans have had there payments applied incorrectly and it is still not fully correct from what I understand. This means to the customer that they will have negative amortization on there loans and owe more now then when they look out the loan. VERY BAD when you try to obtain a payoff statement. 3. Payoff statement. it would take 30-45 days for us to get statements out because be did not have the orig docs from the previous company that we acquired the loans from or the custodian that was holding the orig docs didn't know that we were the new holder of the mortgage and we would have to jump through loops to get the doc's when it should have been in the servicing agreement that was signed when the loans were acquired. however, i asked about that too and no one knew where those agreements were held. Because there are rules that we and the other servicer have to follow and could be fined if not followed by the servicing agreement. but Ocwen was clueless and realy didnt seem to care. 4. In addition, when we acquire loans according to RESPA, we need to give customers a time frame before we start calling for collection and that was not honored. We would but them in the list to call ASAP and they had not even had a chance to get a payment to us. 5. Problems that customer either called in about or wrote in about were not answered in the mannor or time frame occording to RESPA either. and if the research dept felt that a customer service rep sent the information incorrect they would just let it sit and note the acct no further action was taken until the customer called back. They also had a report of the 20,000 simple interest loans that were messed up and no one was looking at it and at one point could not locate the report or the loan #'s. 6. final for now. I had to obtain training information for the training dept for the training on the simple interest loans since no one knew about them. I had to call a previous mortgage company that I worked for and have the training dept send me the information so we could train our people and the training dept.. Very bad..... The president didn't even have a servicing guild on simple interest loans I asked him. Well I just thought I would add my experience and I will be helping on the law suit. Sheryl Orange Park, Florida
Entity: Orlando, Florida
33, Report #26083
Aug 04 2002
05:57 PM
ocwen federal bank is a ripoff. orlando, Florida
OCWEN; POWERBANK WITH NO REGARDS TO WORK WITH CUSTOMER ..... I am going through a bankrupcy and the debt has been reported to Ocwen. They have submitted all of their paperwork to their attourneys and are charging huge fees that cannot be explained on my bills. I am more than willing to reaffirm my debt to Ocwen and continue as usual because my house will be my only debt after discharge. I and my attourneys cannot find a single person to talk to about this paperwork. We keep talking to different people each time and cannot nail down the channels. They have also returned a one thousand dollar payment made by Western Union and say that it is not enough to cure the loan, yet my check payments to Los Angles have been processed as usual. It seems that Los Angeles and Orlando cannot communicate with each other very well. I too am having problems with my insurance being posted to my account and my agent has sent multiple notices to the company saying that my house is covered yet they keep saying that it is not. I am not worried about this because my insurance agent has reassured me that the house is covered. Yet I am getting nasty letters from Ocwen saying that they are tacking on some 1200 dollars of insurance coverage through one of their agents. Who pays 1200 dollars for homeowners insurance on a 100,000 dollar loan? Ocwen is very impersonable and unpredictible. I these times of federal inditments against huge corporations for cooking the books I hope the government starts a investigation into these power banks because I'm sure that Ocwen has some skeletons in the closet. Maybee then they would lighten up on honest blue collar workers who are tired of being kicked when they are down. Ecpecially when they have a family of 5 like mine. Our home is very special to us. shawn gladstone, Missouri
Entity: orlando, Florida
34, Report #14586
Feb 20 2002
12:00 AM
Ocwen Federal Bank Ripoff, BAD NEWS!
We refinanced our home several years ago with another institute,who sold our loan to ocwen. It is a nightmare. What can be done about their harrassment? HELP Barbara Click here to read other Rip-off Reports on OCWEN Federal Bank Financial Services
Entity: Los Angeles, Ca.
35, Report #13825
Feb 11 2002
12:00 AM
Ocwen Federal Bank rip-off liars
I have been charged a late fee every month for a year by Ocwen Federal, even though I have made every payment on time. I even sent copies of all the cancelled checks their research department in November. I still have no response. I get two or three letters a month, with different amounts due on them. Plus letters from their attorney's, stating I am in default and they are going to foreclose. Maybe we can get their attention then. I told them I would sue them for harrassment and mental anguish if they didn't straighten my account out. Don't let them get away with this any longer. Tondra West Palm Beach, Florida
Entity: Orlando, Florida
36, Report #7579
Nov 27 2001
12:00 AM
Ocwen Federal Bank - they suck! Beware - God help you
Our mortgage was taken over by Ocwen Federal Bank and since then its been an ongoing nightmare! We have been through foreclosure proceedings with them TWO times because we were late (10 days) with two consecutive mortgage payments. They refuse to give us a history of our payments. They deny receiving payments which we have proof of making. Our attorney bills have been unreal because of Ocwen Federal Bank. They won't talk to you once they quickly file foreclosure on you, they submit untrue credit reports to the courts (using your name but someone else's credit history) and their attorney's try and get you into a forebearance plan whereby they want you to repay what you already paid to Ocwen. They won't discuss your loan with them instead telling you that they will only talk to your attorney! God help you if you can't afford an attorney cause you'll just end up losing your house. They are in the real estate market not the lending market. I feel sorry for anyone that is dealing with them because you will end up taking xanax, have legal bills up your backside and ultimately end up without a home or a pot to piss in!
Entity: Florida
37, Report #188497
Apr 25 2006
11:29 AM
Ocwen Federal Bank ripoff Orlando Florida
we are victims of ocwen federal bank .they are ripping us off and are being allowed to get away with it. we bought our home in 1993 on a land contract. then we went to bank called upstate capital ,whom sold us to delta funding corporation. then delta sold us to ocwen federal bank.let me explain our situation and maybe someone can give me answers or possible solutions. my husband and i were only 21 yrs old and we new pretty much nothing when it came to buying a home.we saw an add in the paper for first time home buyers looking to buy a home, contact upstate capital mortgage. so we did. we had a meeting with this guy and signed a stack of papers. at the time of getting our martgage upstate capital bank told us we needed to consolidate our bills along with taking out the mortgage. they said it would better our chances for getting the loan . so we did that. we took out 30,000.00 for our home and then we took out 12,000.00 for consolidating bills and fix up work on the home. so our mortgage loan was for 42,000. this was on febuary 9,1996. on september,10th,1996 our mortgage was assigned to ocwen federal bank. on october 9,1997 our mortgage was assigned to the bankers trust company. we just found that out recently.we had thought we were with delta funding bank and that our monies were going to them. now we are not sure where i monies went. we had a few payments that we fell behind , delta agreed to work with us to get caught up. we had to pay a payment and ahlf to them until we got caught up. we thoght all was ok until we saw our home being listed for sale in the newspaper.we called a lawyer in syracuse who agreed he could help us stop the forclosure. we met with himand he said we needed to file a chapter 13 bankruptcy in order to keep our home . so we paid him his fees and did what he said. we had to meet with a trustee andpay her fees along with what fees delta funding bank or bankers trust company- not sure which one we were paying.the lawyer we hired told everything would be fine , all we had to do was make payments to the trustee and make our mortgage payment and we could our home. with the payments we had to make each month to the trustee and to our mortage we were paying close to 900.00 a month.we did that for a few yrs until delta funding bank sold us to ocwen federal bank.they did not like the terms that were set up with trustee and decided they wanted to forclose on our home , even tho we were doing what the court trustee and our lawyer wanted - it looked like we were going to lose our anyways. ocwen federal bank told us that they would work with us but we had to refile bankruptcy but now it had to be a chapter 7. they said if we did that they would then workwith us on a repayment plan. so we did that because we didnt want to lose our home.then they said we had to come up with more money to start this forbearance plan. mind you we had to pay for the lawyer again to refile and the fees that went with that. then we had to pay ocwen federal bank fees upfront plus a downpayment to start us on a forbearance plan.ocwen told us we had accrued over 30,000.00 in fees and back payments and the balance of our mortgage. there is no way possible because we paid our payments an every fee up front along with attorney fees. they set up a forbearance plan and we started paying ocwen for our mortgage.we had to pay 724.00 a month , they raised ourmortgage payment 250. more than what had been paying before.they told us themoney we paid would be applied as such, 477.00 amonth to out mortgage and the balance to taxes and fees that we accrued. we paid them and believed what they said.we did this for five yrs, our mortgae loan also had escrow. ill explain. this past yr we decided to remortgage with our local bank with a lower interest rate. our local bank said we were approved for a new loan with them but they needed a payoff letter from ocwen bank. so i called ocwen and requested a payoff. what a run around that was.i eventually got the pay off. mind you in 1996 our mortgage loan was taken out for 42,000. the payoff letter they sent me stated we owed ocwen over 57,000.00 as of 2005 we had been paying our mortgage to these banks for 10 yrs, we figured roughly we have paid out well over 68,000.00 in monies but yet we owe them 57,000.not possible. they are stealing our money and our home. even tho they said it was that amount, we wanted to get away from ocwen and not let them steal any more of our money, so we went to our bank an applied for that amount. our bank told us to have ocwen send another payoff with explanantion of what the would be paying off. so we did that.they sent me a new payoff a few weeks later but this payoff said 61932.00 how the hell could theyadd on over 4000. dollars more. it had only been a few weeks and we were making our payments. i called ocwen bank and i got a different person every time i called and a different response everytime. my local bank was concerned that ocwen was doing this and said call a lawyer. i havent been able to find one. i waited a few weeks and ordered a new payoff report- mind you there was only a few weeks between each report- this new report states we owe now, as of feb 2006 close to 72,000. that means they added on over 10,000. to my loan in a few weeks, how can they do that. now they have been calling us and threatening us about losing our home. for 5 1/2 yrs we have paid our mortgage to ocwen via western union and wehad to pay fees to do that. but it gave me proof of my payments. our mortgage is escrowed, they take out the money and pay our taxes-well they are suppose to. they are telling me that we owe them over 14,000. in tax money. we have friggin escrow- what did they do with my money. ocwen bank is ripping us off big time and getting away with it. they are upped our mortgage payment twice now. we want to added to every class action suit against ocwen. we will fight ocwen - we will not let them have our home- noway in hell. please advise of what to do and help us stop ocwen from harming any more families. ocwen federal bank has financially and emotionally hurt me and my family. they need topay for what they have done . Tina Potsdam, New YorkU.S.A. Click here to read other Rip Off Reports on OCWEN Federal Bank Financial Services
Entity: Orlando, Florida
38, Report #193146
May 24 2006
04:23 PM
Ocwen Federal Bank ripoff Orlando Florida
My husband and I purchased our first home and started out with a variable rate morgage with another mortage company. To get a fixed rate we remorgaged with another company who in turn sold our mortgage to Ocwen Federal Bank. This was was beginning of our nightmare. Ocwen took every opportunity to add on charges. They claimed we had no homeowners insurance so they began to charge us for the insurance they got. We contacted our insurance company and they submitted proof of insurance but ocwen still kept adding more charges. We got behind on our morgage because I was injured and couldn't work for 9 months. I contacted Ocwen and paid them as much as I could. They had told me if I sent a certain amount of money that would stop it from going into forclosure. I sent the check only to have it returned with a notice of forclosure. We filed a chapter 13 to save our home. They are now ripping us off with foreclosurwe fees and valuation fees. In one month we were charged with 3 valuation fees of 103.00 each and 2 foreclosure fees of approx. 200.00 each. I have contacted them and they keep telling me not to worry I don't have to pay the fees till the end of the morgage. Why do I have to pay them at all? If you are planning on buying or remorgaging if you hear the name Ocwen run away as fast as you can. James Rochester, New YorkU.S.A.
Entity: Orlando, Florida
39, Report #46090
Feb 19 2003
05:12 PM
Ocwen Federal Bank rip-off Irvine California
Reported me late and reported it to the credit agencies although my payments were timely and my statements did not reflect any late charges. Threatened to foreclose on my home. Referred me to an outside law firm to harass me and scare me. Raised my mortgage payment which is permenant due to a missed mortgage payment. It was raised from $1986 to $2029 per month for the duration of the loan. Terry Richmond, CaliforniaU.S.A.
Entity: Irvine, California
40, Report #97488
Jul 03 2004
09:53 AM
Ocwen Federal Bank Payoff ripoff Orlando Florida
I purchased my home in May 2002 and the financing was through Ocwen. I made sure that I was current and never got any threatening phone calls until the end. There was a rider on the contract that said that if I refinanced before 2 years there was a 10% penalty based on the total amount of the original loan. So I waited my two years and paid every month. Once I had confirmation that the 2 years were indeed finished, I began the refinancing process. Since the closing was at almost the same time as the June payment was due, I didn't send it in because my statement said that my principal balance was 101 something and the refinancing was paying off 102 something...almost exactly 1000.00 more than was showing for my account. Maybe it wasn't the wisest thing to do, but I had extraordinary medical expenses from may through June and was trying to play catch up with all of my bills. The day we closed, they called. You're late they told me and I explained that we had just closed on refinancing and the payment would be coming from the title company. One week later, I received another call and I couldn't understand the person who was talking very well, but I explained that I was sure that the title company had paid off the loan. The person insisted that I owed more and I asked how that was possible when as of 5/31 I owed less than what the title company sent. They insisted and then gave me the number for customer service. I asked if I would be speaking to an American when I called (collections must be in India) and they said yes. I immediately called the 800 number and got someone I could semi-understand and first she told me it was not paid, then changed it to one full payment, then when I kept asking how was that possible, she transferred me to their refinancing department! I wondered why because I did not refi through them and the person there agreed that I had been sent to the wrong department and transferred me back to customer service. This time I got a man who said the original customer service rep was brand new and confused. He then reported that indeed I owed $400 more and I asked how if I only owed 101 something on 5/31 and they were sent 102 something? How do they do this? In the two full years of my loan, I had $1861 applied to my principal (sad isn't it) plus, if you go by the amount last year, about $420 so far this year. The math comes out right when I do it...how did they get a figure that was almost what I originally financed? I will be praying that my new mortgage does not get sold to them, if it does, I guess I'll have to refi again because it's as if I paid nothing at all towards my principal in the first two years. Marie Somewhere in, MarylandU.S.A.
Entity: Orlando, Florida
41, Report #152115
Aug 01 2005
10:04 PM
To whom it may concern: My husband & I refinanced our home in February of 2003 with I believe CITI Financial. Within 1 month, Ocwen Federal Bank had bought our loan. Needless to say, in February of 2004, Continental General Tire with whom my husband was employed, laid off many many people, & closed its doors. Therefore, we fell behind on our house payment. I believe it was a total of 5. My father-in-law gave us the money to catch up what we could to stop foreclosure proceedings. Our forebearance plan that we agreed to was $301.47 plus our regular house payment of $330.00. Our original house payment was $253.00, but because of our default I suppose, the interest rate just keeps going up every single month. At the present time, the rate stands at 11.53000%. The August statement has arrived & now our monthly payment has changed to $399.33 effective 08/21/2005. It also states that this could change the amount of our forebearance plan agreement. I just don't understand all of these charges that keep appearing on my dtatement; they are charging me a property valuation expense EVERY month of $194.59 & a backsearch fee of $35.00 every month. Not to mention, the lady with whom we dealt with(Katherine Puleo) stated that every month until the forebearance agreement is up (which is next April),our credit report will show that we are over 30 days late on our acct. How is that possible if we were only 5 payments behind?! There has to be more to it than what they are telling us. We are in the process of trying to sell our home because frankly, we cannot afford to pay what we are paying, not to mention, the house isn't worth nearly $750.00 monthly. The realtor that came over to discuss listing our property even said that she couldn't understand our monthly statement we received & that she basically thought we were being taken for a ride. She said that she would be making some hone calls to find out exactly what every charge was for & what it meant, & if they couldn't tell me, she would be getting a lwayer if she were in our position. Thanks for your time, Johnna Johnna Mayfield, KentuckyU.S.A.
Entity: ORLANDO, Florida
42, Report #117381
Nov 11 2004
05:54 PM
I HAVE READ ALL YOUR COMPLAINTS IT IS DEJA VU. We have had these monsters for years at 11.25% We can't get re-financed by anyone (THEY ALL KNOW OF THIS COMPANY) they don't report or send in pay offs to prospective loan companies. What can we do? I see a lot of complaints but is anyone doing anything about this company? We found out today we go to sheriff sale on 11/15 W/NO notice of foreclosure. Do we make complaints with our individaul State Attorney General or Florida? The charges and escrows change when ever they want. We never rec'd a loan payment book or monthly statements, we get shuffled around to every department with out any resolve. Help! Karen BELLEVILLE, MichiganU.S.A.
Entity: ORLANDO, Florida
43, Report #216987
Oct 21 2006
01:20 PM
Ocwen Federal Bank ripoff Ocwen Federal Bank Sheriffs Sale NOT INFORMING US!! Orlando Florida
Well we tried every thing from getting help from Forclosure Solutions (in with Ocwen) and having a forbearance program set up. They knew that we were not able to make the high forbearance payments so they kept tacking fees after fees to the point the payment could not be made anymore. Now I come to find out that they started the procedings to forclose, not notified, they sold my house at a sheriffs sale in Aug. not notified again, not by them or the sheriff! House is realtor owned now. Not sure what to do. I have requested a short sale. Not sure if its to late! Any that can help me email is ----. If law suits are still giong on I would like to know how I can become apart of it. PLEASE HELP!!! Already looking for a house thank god my husband is not on this mortgage! He is being financed so we can move. Just want to do short sale to get this off my credit report. Michelle Youngstown, OhioU.S.A. Click here to read other Rip Off Reports on OCWEN Federal Bank Financial Services CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Entity: Orlando, Florida
44, Report #87359
Apr 12 2004
07:28 PM
Ocwen Federal Bank FSB12650 Ocwen Federal Bank FSB ripoff Orlando Florida
Oh my goodness! I can't believe this! I found this by accident while trying to get on Ocwen's website. I have experienced the stress of almost losing my house to Ocwen and being put on an expensive forebearance plan twice! I never understood the late charges and all the other charges. But, I felt I had to adhere to what they wanted in order to keep my house. Now, although I have been able to keep my house, I still have a foreclosure on my credit report. Is this possible? Even if I didn't lose my house? I just can not believe this. Sebrina Columbia, South CarolinaU.S.A.
Entity: Orlando, Florida
45, Report #150466
Jul 19 2005
07:25 PM
I have been going through this for the past four years with Ocwen trying to foreclose on my home. I wasn't going to give it up with out a fight. We have been to court three times and so faar I have prevaled all three times. It started with a refy with BNC Mortgage in Denver,they in turn sold my loan to Options One who in turn sold it to Ocwen Federal Bank. I made my first five payments then had received a letter(which I still have) that Ocwen had gotten my escrow from Options One and Ocwen in turn was going to use thoses funds for a mortgage payment. Then after that my payments were being sent back with a letter INSUFFICENT TO CURE DEFAULT. Of cousre I had no idea what was wrong. Then when we were tyring to buy a home in Parker my credit rerport had a foreclosuer on it. What the hell was this. I even got a letter from Ocwen showing a $2369.65 credit to my account which turned out that they had applied someone elses payment to my loan. Went to court the first time in July of 2002. They tryed a rule 120 motion,which is trying to auction off my home. The judge dismissed it until August of 2002 so I can show just cause why the judge shouldn,t rule for Ocwen. They told me they were foreclosing for non-payment in November 2001. Went to court in August. Gave the copy of letter from Ocwen and the attorneys mouth hit the floor,its amazing but attorneys don't like to made looking like an ass in court. He wanted to know why I hadn't given him a copy of the letter. I told him I wasn't his client so its not my fault that Ocwen didn't prepare him with all the documentation he needed. From the first time they sent my first payment back no one from Ocwen would answer a phone call(SURPRIZE).Scott Bell, attorney for Ocwen,asked the judge for a recess and came back on the speaker phone with someone from Ocwen. He admitted that Ocwen had maded a mistake and that we could agree on a settlement. Not even close. I sent what I was requesting and they deniened that. They went throgh three more lawfirms and every time they sent me a threating letter I wrote back and told my side. Never heard from the lawfirms after that I heard from three other guys( not sure if they were attorneys or worked for Ocwen. They wanted me to pay all their fees but didn't want to pay mine. The last guy I talked with on the phone said that Ocwen would wave all fees if I would make all the back payments. I refused. We went to court again May 2005 and agreed that I coul sell my home. Got three contracts on the house. Called the new attorney for him to get the payoff,it told over three weeks to get the payoff information. I was going to make $23,000 profit on my home. When Ocwen found out how much I was to get they decide that now I was to pay all the fees.So they wanted all the profit on my home. So I said we have another court date in August,I'll just wait until then. The attorney told me if they lose in court again then they will appeal to a higher court. That tells me that they want my home so they can sell it and keep all the profit. I friend of mine found this web site and to see that there is a $1.5 BILLION law suit against Ocwen was justifling. I hope Mr.Hanson gets this done. Why does the attorney general allow Ocwen to operate in Florida like this. This BANK should be shut down. Are they not subject to a check and balances by someone? You can add one more who is being f###ed by Ocwen. Kelvin PARKER, ColoradoU.S.A.
Entity: ORLANDO, Florida
46, Report #10769
Jan 06 2002
12:00 AM
Harrassment by Ocwen Bank Scam
January 6, 2002. My loan is being serviced by Ocwen Bank as of Oct.1, 2001. Since that time I have received at least 2 phone calls a month asking for personal information such as the amount of my utility bills, social security number. In addition, they call within the grace period days after the payment has been mailed to ask when I sent it, the amt. of the check and check number. I finally told one of their reps that if she needed that kind of information it should be in writing to me. I never got anything. Apparently as of the last business day (Jan.5) they still have not credited my account even though the payment was mailed 2 weeks ago and the phone calls come in daily. Today received a letter dated 9 days before the grace period was up. I have never encountered any lienholder with these kind of practices. I have contacted the Federal Trade Commission and the adviser was shocked at these tactics and I was advised to file a formal complaint as well as document all interaction with Ocwen.
Entity: Los Angeles, California
47, Report #104487
Aug 19 2004
03:01 PM
Entity: ORLANDO, Florida
48, Report #83989
Mar 15 2004
06:50 PM
Ocwen Federal Bank & Trust ripoff Orlando Florida
I was downsized in December and fell behind on my payments while waiting for unemployment. I had been trying to work something out with them via email in December because I lost my voice. They emailed me back stating they couldnt help via email. I hope there aren't any deaf Ocwen customers! If so, I hope they never have to correspond with Ocwen. Below is an email I sent Ocwen today. I find it extremely un-nerving that 2 payments I requested Ocwen to make one on 2-9-04 for $715.00 (only $15 was deducted from my bank account) and the other pre authorized charge of $565.25 scheduled to be taken from my bank account on 2-27-04 never happened. I received no phone calls, certified letters, process servers or regular mail stating any problems processing payment. But instead found stapled to my front porch on a column not by my front door (a door I don't even use) a photo copy of a legal foreclosure notice on my home. I am instead further insulted by having additional fees levied on me that no one has provided me a detail of what the charges are due! What kind of idiot do you think I am??? I for sure thought within this agreement faxed over tonight you would provide a detail of charges outlining what they were for. I've now looked into my checking account and found I have not paid Ocwen since 12-1-03. That makes me, including this month, 3 months past due and 1 month late. 4 payments total $1472. The late fees are ?...No one has told me the late fees. The attorney fees??? What might those be? Again, no one has covered those costs with me or in this Forbearance Agreement. I've asked since last year to have any Extras removed from my account but no one at Ocwen would stop assessing these 3rd party charges to my account. Im sure they have added to my interest accrual and I don't believe I should be responsible for them now. I really don't know what Im going to do. Ocwen has $1200 of my money right now and won't post a dime to my account. I now son't have enough money or time to hire an attorney. Forclosure is on 4/8/04. W Saginaw, MichiganU.S.A.
Entity: Orlando, Florida
49, Report #12907
Jan 31 2002
12:00 AM
Ocwen federal Bank aka oppressors from beneath
I have written before and frequently check the internet to see what else ocwen has done to the widows, orphans, sick, and down on their luck individuals. I recently read that an individual sent a complaint to the supervision of thrift. I was disappointed to hear that nothing was resolved when going to the agency that oversee's banks because I recently sent in a complaint. I certainly hope something will be done because receipts don't lie. Lajauna Ontario, Canada
Entity: Orlando, Florida
50, Report #15019
Feb 25 2002
12:00 AM
Ocwen Federal Bank ripoff fees, liars
Ocwen keeps phoning me about late payments that I know I have mailed on time. They never seem to be able to locate them. I decided to pay them off, so I sent a check for the amount shown as my balance on my account. They mailed it back a month later with out telling me and charged a late fee. They said I had to get a payoff letter ($10.00) and send a certified cashiers check. The payoff had more interest and penalties and the payoff quote fee. This is the most unprofessional institution I have ever done business with and I will never do business with them again. My loan was sold to them last summer and it has been misery ever since. I sending in a cashiers check today. I keep you updated as to whether it is accepted. J aurora, colorado Click here to read other Rip-off Reports on OCWEN Federal Bank Financial Services
Entity: Orlando, Florida

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