Explore your opportunities! Create an account or Sign In
The most trusted and popular consumer complaints website



escrow fees and increased payment

Complaint Rating:  92 % with 12 votes
92% 12
Contact information:
United States
On September 16, 2011, I faxed your research department a written explanation outlining a two prong problem with my Ocwen account. The first problem was Ocwen had increased my mortgage payment from $568.06 to $652.44. I explained to Ms. Martha Quintero that I had in fact made all payments on time and faxed her my payment history pertaining to Litton before you bought out their contract. This seemed to resolve that first part of the problem because my payment dropped back to $568.00.
However, in the same letter I further explained that Litton had been paying for my property taxes but I had always paid for my own property insurance, which I have continued to do and have Ocwen listed as my primary mortgage lender.
Last month, I spoke with another Ocwen Escrow customer representative. I explained to this representative that Ocwen was still charging me $104.93 per month in Escrow fees. This representative requested I fax their Escrow and Insurance departments a copy a declaration letter and insurance policy, which I did on February 23, 2012. I was told to wait five days for your company to review the documents and make the appropriate changes.
On February 29, 2012, I called Ocwen to check on my Escrow Status and learned my payment had not decreased but increased from $568.06 to $606.11. I tried to explain this to another of their Escrow Account representatives but she would not let me explain my concerns. I asked her to let me speak with a supervisor. She placed me on hold and then terminated the call. I called back and spoke with a customer care rep and was told to fax a written request to the Escrow Department.
According to the County Treasures Office, my annual county taxes are only $468.00. Owcen paid $234.00 on October 31, 2011.
According to my math calculations, $104.93 per month multiplied by 12 months is $1, 259.16. Based on my $468.00 yearly tax fee, I should only be paying $39.00 per month in Escrow fees. That means Ocwen is charging me $791.00 per year for home insurance that I already pay Allstate $774.20 per year on my own.
Later that day, I faxed a copy of my complaint to the Escrow Department. I also requested my escrow account be canceled and a refund for my over payments be sent to me immediately. In addition, I faxed copies of my county property taxes and insurance payment history. As I stated in the opening of this complaint, all my problems began after Ocwen took over the Litton Contract and my payment was increased to $652.44. According to my payment history in the Ocwen website, only $32.56 out of the $652.44 payment went towards my principal. In all other cases, $31.94 has been applied to my principal out of the $568.00.
To date, I have not yet been contacted by this company nor have I received any refunds or explanations regarding my more than legitimate concerns.
Complaint comments Comments (5) Complaint country United States Complaint category Loans


Sort by: Date | Rating
A  6th of Jul, 2012 by    0 Votes
Ocwen is the worst mortgage company that anyone could ever deal with. They steal money, go up on your house payments without notifying you first. I've been paying my escrow account every month through my house payments so the yearly taxes can be paid. I found out last week my taxes have not been paid for over five years. I was served by the sheriff for late tax payments. I contacted Ocwen they took their time paying it, but they also charged me for the negligence on their part when they did not pay my property taxes yearly. I was also informed that they never ask for yearly statements so the tax could be paid in a timely manner. This company is TERRIBLE!!! I am seeking an attorney so this matter can be solved. They are Dead Beats out to get what they can Ocwen should not be able to served anyone anywhere.
N  13th of Sep, 2012 by    +1 Votes
the same thing happens to me ...
N  3rd of Feb, 2014 by    +1 Votes
im going through an escrow issue with ocwenmyself. they want a $1200 cushion in my escrow account that is current because they bought my modified mortgage from bank of america and bofa did not require a cushion. my payment is going up $107.00 a month. more than half the amount that was modified to begin with. any suggestions on how to fight this? I have untuil march 1St.
A  25th of Feb, 2014 by    +1 Votes
Good morning all!

I am presently working with a legal investigator through a New York law firm to gather clients for an Ocwen class action lawsuit for fraudulently collecting escrow funds, not issuing required escrow refunds as well as issuing forced place insurance when not warranted. Please access our firm at ConsultingEND dot com or me directly via email at Dana at ConsultingEND dot com to be put in immediate contact with the investigator as we are thrilled to be able to join together victims with attorneys that want to hold servicers like Ocwen or Nationstar and banks like Chase or Bank of America accountable for their actions.

END Consulting is a full service strategic debt and credit consulting firm started in 2006 with expertise is debt negotiations coupled with an exceptional track record of strategic consulting to include the real estate industry with a formidable business foundation. We have successfully assisted over 100 clients in the past year alone in achieving desired results with regards to their mortgage loan(s) by stripping down the validity of the debt and forcing the lender or servicer to work with our clients to provide ethical, legal and affordable mortgage workout solutions. The results that we negotiated for our clients were not on the table for most when we took on the client as it took regulatory muscle and aggressive communication to achieve the desired debt restructuring resolutions.

Please call or email me to get in touch immediately with David who is the investigator for the NY firm that is seeking Ocwen victims for class action lawsuits involving escrow fraud and relating issues. I would be more than happy to discuss your situation in full with no cost or obligation to you to uncover the possible options that exist for you if you feel that a class action lawsuit is not the immediate direction you would like to take at this time.

Look forward to hearing from you and sorry for the abuse at the hands of Ocwen!

Dana Shafman
Managing Member
END Consulting
(888) 234-7006
N  16th of Jun, 2014 by    +1 Votes
I spoke to Dana and she is VERY knowledgeable about this company and their shady tactics. Give her a call if you have questions.
Ellen G

Post your Comment

Please check text spelling before submitting a comment
Your attitude towards Complaint Agree Neutral Disagree
Comment text
Attach photos (optional)

Customer Care Service
12001 Science Drive Suite 110,
United States - 32827
+1 561 682 8000
+1 561 682 8183
View Full Information
Contact Us

Reply to