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Ocwen Loan Servicing / foreclosure

1 CA, United States Review updated:

The entire customer support structure is inadequate and inefficient. One customer support center is outsourced to india so that they can promote a 24/7 customer service center. However their internal business processes are so inept that it jeapordizes the loan servicing, foreclosure and short sales for their customers. I'm in the final stages of a short sale.. The buyer is holding on and ocwen, the junior lien holder first agrees then refuses the buy out amount offered from the first lender. This entire process takes ocwen 2 months to get through. Now that the buyer wants to offer the difference for ocwen's buy out amount, we have to go through the same process all over again yet every customer service rep and manager spoken to regarding the account gives a different set of information which has delayed the closing processes. We are now at the stage where we are still awaiting for a settlement letter from ocwen now for 2 weeks and the buyer has signed all the loan docs and needs to closer by end of business tomorrow. Ocwen management has promised me a settlement letter within 30 minutes and I have not yet received it. The sad part is that ocwen prides itself on "helping" their customers with loan modifications to eliminate foreclosure however that is not true.In my situation, the buyer will lose out on purchasing their dream home and I will be faced with a foreclosure on my credit all at the hands of ocwen.

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Comments

  • Ap
      3rd of Aug, 2009
    0 Votes

    Ocwen is nothing but a big scam company. My daughter has been trying to work with them on her loan since her and her husband both lost their jobs last year. In October she tried to get Ocwen to work with her on her payments, they kept asking for information that she had already given them, she had her fax confirmation sheet to prove what she had sent them. She sent payments only to have them refused due to it not being the full amount due. It is now August, 10 months later, hours on hold, trying to talk to people who don't fully understand english, or getting one of their loan "SPECIALIST" (what a joke they are, and two even agreed that they could not believe the way Ocwen does their customers). Today my daughter is filing for bankruptcy in order to save them from selling her home. How can a company, in these times continue to perform such stupid, ignorant, and such lowdown practices. The government should shut them down and send all of them from the top to the bottom to prison. I am appauld that Americans have to go thru pure hell because our government is sooooooooooooooooooo crooked, that they do not see what these companies do in illegal practices, lying to customers and outsourcing to other countries that have not clue as to what the hell they are doing. Screw them all and may they burn in hell...

  • Bu
      5th of Apr, 2010
    0 Votes

    I’m shocked a companies like Ocwen can still exists in this day and age. Their unscrupulous business practices know no bounds. From outright lying to making up fees. Worse still the US movement aka Freddie Mac chooses to do business with them! We had a modification with them and were told there would be no additional fees and subsequently charged 12k multiple in erroneous fees. They will not win my attorney is a bulldog and a close friend. My Dad.

  • An
      4th of Aug, 2010
    0 Votes

    omg i have been going threw the same [censor] for sometime and i am ready to go to the division of consumer affairs!!

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