Ocwen Loan Servicing / foreclosure
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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