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Ocwen Loan Servicing Complaints & Reviews - Awful everything

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Ocwen Loan Servicing

Posted:    Donald

Awful everything

Complaint Rating:  100 % with 49 votes
Contact information:
Ocwen Loan Servicing
United States
ocwen.com
My nightmare started on July 28, 2008. I first contacted Ocwen and informed them I was slowly depleting all my savings and was about to fall behind with my mortgage. I was always current with Ocwen for over two years. I sent via e-mail, fax, and mail, a complete loan modification package with all the docs requested (about 38 pgs) After not hearing for a month, I called. It is next to impossible to contact Ocwen as all calls are routed to India. Comforting to know where my financial and personal data is going. A rep (Indian) at Ocwen told me they did not have my w-2's so they filed it in the circular file. I tried to explain numerous times over a period of several months that I was self employed and there is no w-2 or 1099 for me. Since they had my bank stmts and my 2006 & 2007 income taxes, all they had to do was look on Schedule C. After 3 months of trying this, sending my paperwork three more times, and talking to several more 'employees' at Ocwen, STILL NO REPLY.

On one call to Ocwen, I was on hold for 67 minutes and another time 45 minutes, and still was unable to speak to anyone. On occasions when I did contact them, I had to start over and explain the same things to every one of them. Still no help. One told me I made too much money. The next one told me I did not make enough money and could not afford the loan. One told me they had all my documents, another told me they did not have any documents. Now, they either have them or they don't, right? Well, then why didn't they offer me any options? Another 'employee' told me they could not help me because I was still current. How stupid is that? That is PRECISELY the right time to act.

I finally fell behind in October, after depleting all my savings trying to keep up. Now, they start to call me DAILY! They only want money. They refuse to talk about alternatives, and direct me to the Loan Mod Dept. Same phone number, no names. I fax them my cell phone # so I can't miss the call. No calls. I call back dozens of times and can't talk to a real person.

In Dec, 2008, I hire a lawyer backed loan mod company They try to help me for three months. Finally I get an offer that is the same amount as what I was paying, except now I am five months in arrears so they add that to the end of the loan and make the mortgage upside down now and end up with the same payment. What kind of loan mod is that? All I ever asked for was a lower interst rate and payment. What do I get for my good payment record with them----9.65% They are 'helping me out', and I should be grateful. Well, I suppose looking at the legality of it, they definitely were MODIFYING the loan. No problem, my credit score went from 650 to 500 in two months! I'm sure it will take TWO YEARS for it to go the other way. So, there goes any chance I may have had for a refinance. They have me coming and going and control my life.

Jan 15, 2009, I get a certified letter from Shapiro & Weisman LC attorneys, saying they represent HSBC NA, who actually owns the loan. (first I ever knew HSBC owned the loan I took out with Sebring Capital and they transferred to Ocwen--big mistake for me), and that I am in default and they MAY foreclose. My first question to my atty is why can't we try to deal with HSBC since Ocwen is Impossible? No, this can't be done. Ocwen has a service contract, so I must go through them. Fat chance!

Feb 26, 2009, I call Ocwen for one, last attempt. You guessed it, going in circles for ten minutes trying to get to a real person. I requested short sale info to be faxed to me in three days as the recording states. Four days later, no fax. I call again Feb 29th. Still no real person, and request a short sale agreement and a 'leaseback agreement' from the automated menu. Days later, no fax, no call, no nothing.

I have to state that having my loan involuntarily transferred to Ocwen 2 1/2 years ago is the single, most nightmarish thing that has ever happened to me in my life and I am 62 yrs old. I am a 4 yr US Marine, Viet-Nam combat Veteran and nothing in Viet-Nam was this bad!

Today, as I am sitting at my computer, after calling Ocwen 3 more times last night (no response, but I recorded the three calls), I am typing an e-mail to my attorney to tell him to go ahead and try a short sale since I have exhausted all my avenues with Ocwen, including two attempts with HOPE NOW (which is a complete and utter JOKE!!), I get a phone call from a friend of mine who says, 'Hey, I'm really sorry about the house, anything I can do to help?' He tells me that my house is in the legal notice section of the local newspaper, and is scheduled for a Sheriff's sale on April 6, 2009, at the County Courthouse. Talk about being 'Blindsided'. This is the way Ocwen works. They are totally untouchable by anyone, including President Obama!! They have ALL MY CONTACT NUMBERS, and did not even notify me of this action yesterday. Sound familiar? I read this same thing happening to others several times on http://www.complaintsboard.com

So, I am inviting whoever reads this to please, take a few moments (or hours if you have the time) to go to /link removed/ and read through the 1580+ and growing, list of similar complaints. Everything I have related here is totally true and is being practiced by Ocwen every day. It will turn your stomach and make you sick, and you will wonder how a business like Ocwen can remain in business and do these things to thousands of homeowners who, like me, are just trying to stay in their homes. They are consumed by the dollar, their greed, and are simply just too STUPID to try an easier solution or even look for solutions to these problems. We are all just a number to them and THEY DON'T CARE!! Also I have enclosed a phone number(561-682-8520) and e-mail address(William.Erbey@ocwen.com) for William Erbey, the CEO (Chief Egocentric Officer) of Ocwen. Call him and tell him what YOU think. I'm going to.

I have made it my mission in life to pursue this all the way to the top of our government, including the media, and I will join in any class action lawsuit attempt, and will tell my story over and over as many times as it takes. William Erbey, look out, you have started a movement! I don't have any money and I don't know where I will go, at this point, but I will try to help others in this same situation in any way I can.

I have a LOT more information, that I will share with any interested persons, attorneys, parties, or whomever. Let's work to stop this kind of ABUSE, because that is exactly what it is.
Comments United States Mortgage Companies
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 12th of Apr, 2009 by   Mary 0 Votes
We have been go through this for over 2yrs now and nothing has been gained either. We have done exactly what they said and sent in all the other unxpected paperwork also. I have reported Ocwen to the Missouri Attorney General Office. We just don't what else to do. I hate to loose our home over this Company, but I cannot afford an attorney either. We have not heard back from Ocwen about our modification yet. When You listen to main menu they say if you need to get refinanced press 5 or whatever number it is. Then when you speak to a person that does not speak fleuent English they say that Ocwen does no refinancing. We will be glad to try to get something done to help everyone else that's going through the same situation. Mary
 14th of Apr, 2009 by   Laurie Black 0 Votes
The gentleman with the original post is exactly the same story I have but I have made hundreds of calls and spent over 50 hours on hold or repeating the same story over and over. After relentless hours and faxes (which nobody can verify they receive), I followed through with my loan modification agreement only to find that it did me no good. They have me on record of having missed a payment although I didn't and they cashed $2195.00 every single month. I have bank statements to back this up and have tried to explain this numerous times to no avail. Unfortunately during this time I put thousands of dollars into my house. New windows and wood blinds, granite, I painted, had work done on the roof, new appliances, etc. I am now $50, 000 upside down in a house that I thought we had restructured. Please let me know of any lawsuits pending. I would love to get in on them or help anybody else out.
 12th of May, 2009 by   Pissed off at Ocwen 0 Votes
I am in the same situtation as the orginal poster. We have been trying to obtain a modification for 7 months. Now I am getting paperwork from my county courts informing me of who actually owns my mortgage and that I am going to be sued. We have spent so much time on the phone with people that barley speak English so I started going through the Spanish line, we don't speak Spanish, just to speak with someone in America! A rep called me today to inform me that after my 15 emails they FINALLLY have all of the documents that they need to start reviewing my loan for my modification. In the meantime I am suppose to sit back and wait...whatever! We are young and have small kids and we are very scared that we are going to lose everything that we have worked so hard for. Its not fair! If the modification doesn't work out bankruptcy is the only option for us. Good luck to all that have to deal with these terrible people.
 3rd of Jun, 2009 by   FREEDOM SEEKER +1 Votes
ALOHA TO ALL...i have a loan with ocwen who it was originally with downey savings. Please go to www.loveofwings.com and read the world at large page. all of the banking done in the world is fraud and we can find a way to get out of this mess. also search on the internet what "STRAWMAN" is and how it affects your life right now. it's the truth. i haven't been paying my mortgage since nov. 2008 and i am learning to regain my freedom. There is hope but it will be process not a quick way out. Gain your power back. we are slaves to this so called "NATION" your birth certificate is evidence that we are "Wards" of the State.
your social security card is evidence that you are bonded.


Gain your freedom. Help your Neighbor. Together we can end this nonsense. Save the HUMANS!
 8th of Jun, 2009 by   Loneranger 0 Votes
I've read that if the servicer or mortgage company does not have the original of your mtg. note I believe, then they can not legally foreclose. If you call a real estate attorney they will be able to confirm this. The person who wrote about it was a law student so I tend to believe it's true. Also you may want to contact the GAO office in D.C. to file a complaint as well as with your state Attorney Generals office. There is also an Office of Financial Regulation I believe in every state as well to contact. Write to your local congressman as well. The more noise you make about this company, the better. They've been awarded a $659 million contract with the gov't to do loan mods and guess where most of the employees are located? Once again, an effective use of our hard earned tax dollars!
 29th of Sep, 2009 by   SabrinaAdams 0 Votes
My loan mod was under review. They foreclosed on my house september 24, 2009. I would like any numbers or attorneys numbers. I live in missouri. I want to sue those SOB's!!! My email is adams_8997@yahoo.com and my number is (417) 737-3270. If you know any attorneys that want to file suit please give them my number. Thank you. Sabrina Adams
 3rd of Oct, 2009 by   CANRSIEGRL3415 0 Votes
I can't believe all these complaints. I knew how I felt about OCWEN, and now I see all these...how can they continue to get away with this...I too am a customer and have had nothing but problems with them since November, 2008….I did everything they said with regard to paperwork, 3 times...spent almost 200.00 faxing documents only to be told they needed this or that or more...to try and be short on this, it is almost a year later, and my home is going up for auction on November 4, 2009….I have over 45 faxes that I sent, 3-4 pages of notes, dates, names, etc…emails galore, and several letters I sent to the BBB…still, almost a year later, we will lose our home it seems…OCWEN doesn’t care – as for their employees in India. Talking to them is impossible…they do NOT speak good English and care even less about the customers than those reps in Florida…I personally have been dealing with cancer since December 2008, my husband lost his business, and yet OCWEN is merciless…they agreed to a deal back in January and then reneged on it…they ignore their customers, and they treat us like we are criminals…although it is devastating to lose our home, I’ve realized I have to get well and think of my health before I can worry about this anymore…no one seems to help…

canrsiegrl@yahoo.com
 20th of Dec, 2009 by   Pam Jett 0 Votes
We are going thru foreclosure proceeding now, it started in Nov of 2008. They said they would not accept payments & would not talk to us. We also sent in the paperwork for modification. No replys from Jan.09 until april 09 we we served with a civil court appearence. ( Shapiro & Weismann) Our court date was Dec.17 & the judge signed for them. We have legal aid on the case now, he said he can buy us time, but no promises. Maybe we can get together & do a class action siut. I am calling my lawyer on Mon. & will give him this web page & all the others I have found. There are too many of us to be ignored.
Pam Jett
pjet456@sbcglobal.net
 13th of Jan, 2010 by   4783 -1 Votes
i have had all the same problems. i had a sale date on the 9th of dec and was told on the 8 th o f dec that they had a loan for me but was not going to stop the sale date i was able to stop the sale and now is jan 12th and i still do not have a loan mod i neeed help...liggettexcel1@aol.com
 22nd of Feb, 2010 by   pharner 0 Votes
It's amazing that as I'm reading all the comments so far, this could be, and really is my story exactly. I can't believe that we've come to the point of being treated so unfairly by OCWEN. I don't know how company employees can face each other every day, and especially OCWEN customers. There is nothing but deception coming from everyone I've spoken to. And I am so fed up with trying to speak to someone who can't carry on a decent conversation. If foreigners are being hired into positions of customer service, they should how to speak proper English. I've had to hang up a few time because I absolutely could not understand what they were saying.

Count me in making this company be held accountable for what they are doing to those of us who have loans with them. I for one will do as one gentleman suggested - I plan to write a scathing letter/email to the CEO of OCWEN. I think we all need to ban together and do whatever we can.
 28th of Mar, 2010 by   snoweyesn95 0 Votes
WELL FUCKING SAID!

my dad and i are being treated like this right now, couldn't get anyone, and monthly payments gets piled up cant get to anyone. circling the harbor here. Its getting ridiculous. Id celebrate if someone assassinated those idiots that screwed up at ocwen

i want to join this group of people that is currently trying to get back at ocwen, Not vigilant like of ocurse. no pitchforks and torches,

i meant in a legal way i am so poised to get back at them
 5th of May, 2010 by   Donald Kidd 0 Votes
are story is word for word same thing.are home is 19 day's away from being sold on the court steps in Sacramento county.we have a good friend who flips houses, and knows how to deal with theses thing far better then us, he is giving my father a truck off his car lot, to short sale the house so he at least gets something out of the the 10 years and 100k he just wrote off, and also let my parents live here rent free for 5 or 6 months.that way they can save and plan so they can start there lives over at 68 and 72 years of age, all this has taken servral years off my fathers life just worrying ware my mother will live after he dies, this is how we treat a 20 Air force vet.

and this all hinges on this short sale happening, so there are 2 more hard working elderly persons who busted there asses there hole life just to be sitting 19 days away from homeless
 14th of May, 2010 by   whispers 0 Votes
Try this guy. We recently had our mortgage "refinanced" and he wasn't all that helpful, but get to him and if annoying enough - he will go to the top. Some lady is his boss but I can't remember her name.

Joshua Coykendall
Specialized Home Retention Consultant
407-737-5285 phone
866-779-8080 toll free
561-682-8160 fax

Ocwen
Email: Joshua.Coykendall@Ocwen.com
 24th of May, 2010 by   timprentice 0 Votes
my name is tim prentice and live in kingman az.i divorced from my wife a year ago and the loan was in her name but i was awarded the house i have no way to refinance right now and they will not take my payments for the last 4 mos. im getting ready to lose my house and dont know what to do any suggestions?
 23rd of Jun, 2010 by   Sara H 0 Votes
I live in Tampa FL, my loan was originally with Taylor, Bean & Whittaker, who were seiged by the FBI or IRS...one or the other. Since that time, my loan was transferred to Cenlar, I was in the process of trying to remodify my loan with Cenlar, when I received a notice in the mail advising that my loan was now placed with OCWEN. I called OCWEN to try to see if the loan remodification paperwork had been recd and they told me I had to complete and submit all of the paperwork to them again! The person I spoke to promised to send me a remodification-package (forms). Two weeks later I had not recd it, I tried calling OCWEN and after holding for 30 minutes waiting for someone to respond, I gave up. I called at a later time and I was informed they had no record of my conversation with anyone. Needless to say that was January 2010 and I have still not received anything from OCWEN other than a certified letter tellimg me I was in default. How can this be legal?

What a joke this has been! I am so dissapointed in the system we have. Since that time, I have gotten divorced, I cannot afford my payments, I am so far behind on payments I don't think I could pay it off even if I wond the lotto! I have had to resort to placing my home up for short sale in an effort to salvage what's left of my credit. Where are the heroes when you need them? What ever happened to my 'piece of the American dream?'

Sara H.
 20th of Oct, 2010 by   Lissygirl 0 Votes
I am having the same problem. Except mine started 2 months ago, right when my loan was transferred to Ocwen from another servicing company. At first I was happy to be able to talk to someone about my account but after I got my modification papers and faxed them back to Ocwen, it was impossible to contact them for ANYTHING.I did not hear anything for a month so, out of curiosity, I just pulled up my account on the computer, and lo and behold, there was a note at the top of the account that they needed more information from me. Now I had not had a phone call, email or anything else asking for this and if I had not gone into my online account, I would never have known. I faxed the info. (for the 2nd time) and tried to call the man who was assigned to my account to see if he received everything he needed, but I could NEVER get him to respond. I am now 2 months behind and today, I again tried to call, with no results... so I pulled up my account again and there was a note that I did not qualify for the loan because I make too much money?????? I make less than $1300 a month and THAT IS TOO MUCH???? I was furious so I called back in and kept pushing buttons until I got a woman on the phone who transferred me to the Modification Department and GUESS WHAT? The man I need to speak with only had his voice mail on so I left a detailed message for him to call me back because I think they have my information mixed up. Actually when I first called in for the modification, I was told that I did not make enough and now, I make too much? I am so glad I saw all these complaints about Ocwen because I am going to do all I can to get to the bottom of this.
 11th of Apr, 2011 by   Pdh58 0 Votes
My name is Paul and have the same complaint as most of you. The problem with Ocwen is they outsource calls to India, talking to unqualified operators that do nothing outside the manuel they must have for these consumer complaints. If anybody wants to pool resources to sue these idiots, count me in. My phone number is 509-220-2301
 24th of Apr, 2013 by   acronymforme 0 Votes
My mortgage is with Ocwen. I agree with the frustration with the outsourced call center staff. They really are quite useless. Now you have to remember, this is a Native American owned company and they are out to do nothing but make money. Because of their Native American status, they are not subject to a lot of the rules other companies would be.

I too have tried a loan modification 3-4 times. Each time I'm denied because of some loan to income ratio not being exactly 30%. I'm sure if I could get the paperwork to show that, then there would be another excuse.

Please keep in mind that the mortgage company doesn't lose money if you default on your loan. That's what the PMI is for. They get whatever difference from that insurance, plus they factor in all the interest they have already made off of you in the years before. They will always make out ahead. It's not their job to care whether you have a house or not.

Just see Ocwen's investor presentation for 2012.
http://www.sec.gov/Archives/edgar/data/873860/000101905612000748/ex99_1.htm

With a loan modification off the table, the next option is to short sale. Beware here too, because OCWEN will stick you with a bill for the difference, plus you will have to pay 1099 rate taxes on that as well. Still, you will have no house & some lucky person will have had the opportunity to buy it for what it was really worth, while your still paying the difference. This is a really bad & twisted idea. Who thought this gem up?

I saw online that there is this lawyer named steve beed who says that Ocwen has introduced a new program called the "SHARED APPRECIATION LOAN MODIFICATION". Ocwen will receive 25% of Property future appreciation in return for reducing the principal balance to 95% of Fair Market Value, reduce the interest rate to 2% & forgive any deficiencies in 1/3 increments if the borrower stays current on their payments for the next 3 years. Sounds good, but I'm skeptical. I'm sure they've rolled this out for the PR Sound Bite alone, and in reality it will be next to impossible to qualify for... but I'm sure that will all reveal it'self shortly.
http://stevebeede.com/2012/08/ocwen-unveils-shared-appreciation-loan-modification/

In the meantime, I am considering bankruptcy. Think of it this way... continuing to pour interest into a mortgage, while not even touching the principal on a house that during it's life time will never see that return investment just does not make sense. period. First secure a place to live that you can stay put for a few years while your credit is still somewhat good. Second, secure all your assets in trusts, etc... Third, file bankruptcy. What this does is wipes all of the loans you report in the filing. You will then be debt free and after a few years you can start over from scratch. What I have found from people (including security cleared government workers) is that a person with no debt is more favorable to someone who is loaded with debt and paying on time. You truly do get penalized big time for doing the right thing.

After a few years you will be surprised to see that lenders will fall over themselves to have you start "reloading" your debt. seriously, this sounds crazy but it's true. A friend of mine that did this is now (5 yrs later) buying a 1/2 million dollar house at the low 3% interest rates in Northern Virginia this very month. If I had just dumped my house as he recommended at the same time he did, I would be in the great shape he is in now. Live & learn.

Of course, if you can qualify for HARP & be refinanced in the 3's%... worst case is that you can rent the place out, pay any difference out of your own pocket & pray that in 30yrs property values on a really old house will go back up and you'll break even.

Another thing you may be able to do (if the house is only in 1 spouses name or you have a family member that can help you out) is to let it go into foreclosure, then have that other person buy it back at current market prices and the great interest rates we have now. You can be guaranteed that even if you get into a bidding war with someone, since you are emotionally involved (tho I advise you not to be), you will be willing to go higher than someone who is sheerly looking at the house as an investment vehicle and whatever you buy it for will be far, far less than you owe now. It's only short sale that has rules relatives cant buy and that you can't live in the house again. Just a thought...

Emotions and financial decisions are never a good mix. It is only a house & you will find another one. It's better to think ahead and do this intelligently than to be unprepared and put yourself into an even worse situation that you will not be able to lift yourself out of. Break the ties when you see there is no place to go but down, buckle in, wait for the ride to end and then rebuild. I wish I had, although I am extremely lucky to have not been in a situation yet that forced my hand. I can still prepare. Better late than never.

See this article on Strategic defaults. Heck, the Airline industry and just about all companies do this on a daily basis... why not me? Am I dumber than an American company?
http://www.stayinmyhome.com/blog/2011/02/strategic-default-why-not/

oh, & btw... the only reason I bought the house at the price it was in the first place is because my fiance at the time was a real estate appraiser. He swore to me up and down that the house was worth the price and the values would only go up. I didn't buy the house to make money or flip it... Now that my loan to value ratio is so extremely high, this affects my credit & it slaps me with PMI payments & other negative aspects. Additionally, what could have been a reasonable retirement safety net (thanks to welfare class eating my SS payments) or something in the event of a catastrophic illness like cancer that could provide a little emergency money... is now nothing but a black hole. Yeah, I could have sued him for his crappy appraisal skills, but so many other people sued him first that he lost his license and disappeared. Like I said - never let emotions and finance mix.

What I learned after living w/my real estate appraiser fiance (who set up his business in the office located in the house) is that the appraisal process was a partnership with the real estate agents. They would call him and say "Ed, I have a house that is for sale at x$'s. I need you to make that happen." He would say "sure, I can finesse that for you." As long as he found a way to make the #'s work... he kept the work rolling in. Once the banks dried up the mortgages and everyone was underwater, then he got sued left right and center by poor elderly people who had lost their entire life's savings. I felt bad for everyone. So... this isn't just the fault of predatory lenders or greedy people buying more house than they could afford thinking they could flip it or people sucking the equity out of their homes to finance stuff (although that did exist too)... I think a large part of this false inflation was mostly enabled by the appraiser/real estate agent relationship. I saw it with my own eyes & I fell for it too.

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