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Ocwen Loan Servicing / loan modification

1 United States Review updated:

After reading all the complaints about Ocwen, I can relate because everyone's story is exactly the same as mine. I am trying to modify my mortgage for months now. I have faxed and emailed the same docs too many times to count with customer service telling me they have not received them. You have to speak to someone in India who has no clue. VERY FRUSTRATING TO SAY THE LEAST! These idiots are screwing with your home and could care less. I don't think they really want to help. You cannot speak to anyone in the US who has a good grasp of the english language. Something needs to be done and we should start a class action lawsuit. If anyone has any ideas please contact me. HELP!

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  • Ve
      4th of Apr, 2010
    0 Votes

    You are not alone. I just lost my job. Requested the loan modifications papers form from Ocwen and I did receive.

    However, I am going thru the same process you are. Ocwen informs me they have not received all the forms I faxed to them. 43 pages and they tell me they have not received and cannot process my loan because it is incomplete.

    I tried calling to talk with someone to find out what papers do they not have. I cannot reach a live person only pointless information from a computer voice system and when I do reach the modification loan dept automated voice system again. This voice mail informs the caller they will return calls within 24-48 hours. It has been 3 months and I have not spoken to any rep in the modification loan dept. as of today. Another thing, their call base is located in India. There is a language barrier to discuss anything with their reps in another country.

    I am at whits end! President Obama needs to know we paid tax dollars to bail out the rich for corporations and businesses. Homeowners, don't stand a chance to try and save their homes.

  • Be
      6th of May, 2010
    0 Votes

    HAMP ISSUES WITH INSTRUCTIONS AT THE BOTTOM: My husband has a mortgage he took out before we were married. He always paid early with an automatic bank draft and for more than what was due. He had never been on government assistance in his life and had perfect credit. After unexpectedly loosing his job in June of 2009, we found out that we qualified for HAMP. We started out with TB&W and sent in “verified” information to qualify for HAMP. 3 trial period payments were sent in to TB&W who shut down during the trial period process. At the advice of Freddie Mac, my husband put his credit on the line and was told that it would be cleaned up in a few months once the payments were capitalized on and the final was complete. Cenlar took over TB&W’s loans and held our file for 6 months. During this time, they cashed our trial period checks and claimed they never received the money. They would not return phone calls. They threatened foreclosure even when we were paid up on the trial period payments. Cenlar lost all of TB&W’s paperwork. Cenlar asked us to send our copies of the paperwork 5 times (documented). Freddie Mac told us they would escalate the matter and sent paperwork to Cenlar on our behalf.

    Freddie Mac finally told us to ignore Cenlar and that Cenlar did not handle HAMP files. Why then would Freddie Mac ask us to send our HAMP paperwork to Freddie Mac to escalate the matter for us? Why would Cenlar ask us to overnight, mail and fax the HAMP paperwork to them 5 times if they did not handle HAMP? Why would CENLAR cash clearly marked HAMP checks? We also sent emails, letters, and made phone calls to all parties involved. We tracked down a skeletal crew for TB&W and got the tracking numbers of the information that TB&W had sent to them.

    Freddie Mac told us not to pay Cenlar that they had found a servicer named OCWEN to take over our loan. We were told by Freddie Mac that OCWEN agreed to capitalize on the payments and bring us current in January of 2010. There was just the legality of sending over our file from CENLAR. It is May and no one has our file. I again sent copies of our paperwork to an onsite Freddie Mac rep at OCWEN who did not give our paperwork to the correct parties. This new Freddie Mac rep also lied to us stating the our file we sent was being looked at by underwriters in India. Then when we checked back with him the file was being reviewed by the Treasury. Then the file was up the chain at Freddie Mac. He lied and is now working for a bank in California. When we called Ocwen, Ocwen said that this was all up to Freddie Mac to decide. Freddie Mac claims it is all up to Ocwen to decide.

    Here is the long and short of it. Any chance of my husband finding a job in the line of work he had performed in the last 26 – 27 years is over due to following the advice of Freddie Mac. In his line of work he had to have great credit. Freddie Mac reps knew this all along. We would have not chose this path had we not been guided this way. My husband has a 401K that does not come into consideration when applying for HAMP because it is his retirement. We could have bought some time and put the house on the market by using this money. We did not want to lose our home, which is what HAMP is made for. We used my small salary which would be enough to pay the modified payments on the home. Remember, I am not on the loan and they all knew this. According to HAMP guidelines, I can contribute part or all of my income.

    First Ocwen states that we did not send in the proper documentation. This I proved not to be true. I also showed them that the person making the decision is confused as to who is on the loan and who is not since I, a female, continually am addressed as “he” in their interoffice memos.

    They then tried to blame Taylor Bean and Whitaker saying TB&W signed people up illegally only using “stated” income and that was how we got signed up. I then had to prove that TB&W went overboard with me and made me send in “7” pay stubs as opposed to the “2” that is standard and my pay was “verified”. By the way, at the time we qualified, “stated” income was allowed and really should not matter until we do the final mod just to verify my income is still the same. I also told them TB&W used 2 negotiators instead of one to come up with our payments. I then asked where all of the original paperwork was at to clarify the issues since TB&W used Freddie Macs worksheets to come up with our payments and to qualify us. Our paperwork is still lost.

    Now all of a sudden, Ocwen is saying that I can not contribute but 50% of my income and that is not enough money to pay the payments they claim. They did not alter the loan to the 2%, they did not stretch the loan out for 40 years, and they did not do the NPV to adjust the principal. These are all listed as steps they are supposed to do. We had to tell Ocwen and Freddie Mac what the guidelines stated because they have no clue or they are playing dumb very well.

    From what I have gathered, all of these loan servicers are conveniently losing files. I wished there was a way to file a class action law suit for missing files. I know that there is a protocol that has to be taken for the storage and care of people’s financial information and I have been told there are 100’s of thousands of files missing! People are being disqualified after being qualified for HAMP for trumped up reasons like all of a sudden “not enough income” or “missing paperwork”. A lot of people are giving up and walking away. Others are taking stands. The Urban Justice Center in NY 646-602-5600 has filed suit against a large bank JP Morgan or Chase I think, for 3 people who were lied to. The National Consumer Law Center in Boston has filed a Class Action Lawsuit also.

    If you are going through the same issue, here are some things you can do:

    File a complaint with your State Attorney General (states are gathering complaints)

    Contact your representatives and congressman

    Contact your States Financial Regulations department and file a complaint (states are gathering complaints)

    Keep documentation – I have recorded phone calls and emails from Freddie Mac with their guidance

    There are a few lawsuits going on across the Country

    Go to and do research to see what fits your criteria.

    Read the directives at the HAMP website. Q1222-01 is a great one!

    Call Freddie Mac’s corporate number and when it asks for a person’s name, ask for the CEO.
    File a complaint.

    Send a complaint letter to Freddie’s Mac’s CEO

    Address complaints to the loan servicer on your loan’s President of the Company (in some instances these are the only ones that get through)

    Ohio’s Attorney General is filing a class action lawsuit against some servicer regarding HAMP (maybe your state will follow soon if enough complaints are made)

    Go to YouTube and check out the videos by attorney Englett from Orlando.

    Go to the HUD website and look at some of their videos to get help.

    Contact HUD for help

    Get a free consultation from the attorneys KEL (Kaufman, Englett & Lynd) from Orlando 407-513-1901 ext 7120 (Greg Pull client counselor) So far, to us, this was the greatest hope we got through out the process.

    Remember, you are not alone.

  • Wh
      14th of May, 2010
    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


  • An
      4th of Oct, 2010
    0 Votes

    I did a modification with Ocwen went through the same thing. In the end I did get my Mod. It was the best day if my life. It took 7 mounths.
    Now I have 2% for 5 yrs 6th year 3% and 7 year 3.5 year 8 I have 4% to the end of the loas which at that point will only be 12 years. Please hang in there and it can work. My home was in forclouser twice during this time and each time the STOP it.

  • Ge
      16th of Oct, 2010
    +1 Votes

    While most who are commenting do not participate in loan modifications on a daily basis they should still do a little research prior to making comments and sounding ignorant. I HATE Ocwen as much as everyone else on this board, I mean how can the gov give this company taxpayer dollars to pay some robot script reading reps in India and Uruguay! What people do not realize is that there are many more guidelines for HAMP than the gov leads borrower's to believe. Examples... If you have a Freddie mac loan and are less than 60 days past due you have to pass their imminent default test>>> good luck! if you are paying why would or should they give you a mod! If you have equity in your property why should your lender give you a mod when they can foreclose and make more money? Everyone thinks their lender is REQUIRED to take their salary and give them a payment of 31%... Here's a hint, use your gross year to date and divide by your last pay date, this gives your true average monthly income which is what they use... guess what... if you owe 300K and make less than 3k a month you will not pass the NPV test... learn what the NPV test is. Do yourself a favor and do a little research prior to applying for a program you know nothing about! PS unemployment does not qualify for HAMP or FM.

  • Xt
      10th of Jan, 2012
    0 Votes

    I have OCWEN for my loan proceesor. They are a joke! For months they kept telling us we could have a modification to get us out of a adjustable rate & lower our mortgage payment. I would send them all the necessary paper work & the other person did not know what the other one was talking about. This went on for months! My husband went from working 7 days a week to 1 or 2. Talk about a BIG pay cut. We then were heading to forclosure. I contacted KEL Attorneys in Orlando Florida. 2 years & $ 5000.00 later we still have not resolved this matter! They now are telling me it is time to renew our contract. Wanting another $ 2500.00. I very seldom hear from any one from KEL, you can't get a phone call back, only emails that don't give you any answers. Has any one used KEL Attorneys & did you have this problem or was your home saved? Please let me know any answers. Do you have any other attorneys you would refer to?

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