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Ocwen Loan Servicing / fraud, lies, deceit...

United States, Indiana, Indianapolis Review updated:
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Ocwen Loan Servicing
Ocwen is one of the most frustrating companies I have ever dealt with. They purchased our home loan from the original company a few years ago and we have had nothing but major headaches since then. We have dealt with them for over two years trying to get a loan modification agreement straightened out because they actively try to create problems with it... "losing" documents, changing terms after-the-fact, ignoring dates when it is advantageous for them, feigning ignorance of documented telephone conversations, taking months to "research" questions/requests for information.

Any time that I have called ocwen, several problems are always faced. First, the call will be routed to an incorrect department - - i. E. , if I call the number for the home retention department, I will be routed to the customer service department. Second, the phone reps will typically either not want to transfer me, not know how to transfer me, or will disconnect me in the process of trying to transfer me. The phone reps are typically extremely rude, do not accurately listen to the customer, will consistently repeat the same script no matter how inaccurate or inappropriate it is to the given situation, are poorly trained, and are usually incomprehensible. I have had reps laugh at me (Not with me, but at me) , ridicule me, refuse to transfer me to a supervisor, lie to me, try to keep me from speaking, promise to "document" something on our account and never actually do it, and commit any number of other egregious offenses. Most calls are routed overseas to an indian call center and they have no clue what goes on here in the states. The call center reps are typically even more clueless than their us counterparts. I don't think I have ever spoken to the same person twice - - if you ask to speak to a certain rep, forget it - - either you will be refused your request right off the bat, or you will be placed into phone queue never-neverland, or you will be disconnected. Speaking to a supervisor is also a no-no - - most of the phone reps will actually argue with you when faced with that request, or will put you through to some voicemail prompt from which you will never receive a callback. Some of them will simply say ok and then place you into interminable hold... Just for fun, I actually stayed on the line one day when I was told I would be transferred to a supervisor. I clicked on my speakerphone and went about my business. Two hours later I was still holding for that supervisor.

The computer system at ocwen is archaic and pretty much useless. Worse than useless, it actually creates many of the problems we face with them. There is not just one comprehensive system in use at ocwen - - there are at least two systems in use by different departments, and likely more given the kafka-esque conversations I have had with ocwen reps. None of these systems communicate with the others in any meaningful way, and data is guaranteed to be either mangled or lost. One department does not know what another department has done, and there is no way that they will believe what you tell them has been done. Often, I am told by the customer service people that I need to speak to the home retention folks... And the home retention folks then tell me that I need to speak to the customer service people. And it can take hours just to be transferred from one department to the other, if that actually even occurs successfully.

One of ocwen's favorite tactics is to just shuttle paperwork, calls, correspondence, whatever, back and forth between departments until the clock runs out. Then they will act as though they never received anything, never spoke with you, never knew anything.

If you have any choice in the matter, stay away from ocwen... Far, far away


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A  23rd of Jun, 2009 by 
Agree Disagree +1 Votes
I have been with Ocwen now for a few years, not by choice may I add. They are horrible as everyone claims. They don't care about the customer and play games. Tried to do a loan remodification. Was told what my new payment would be which was to include my taxes and home-owners insurance. Also told me what my new lowered interest rate would be. Was told thay needed to discuss with supervisor and would get back to me which they never did. When I called back a few days later everything changed. Costs and interest was higher. Was told that I was supposed to fax certain forms and info to them in which was never discussed the first time around. Was also told that I needed to send $500 to them to satisfy which was also never mentioned the first time around. Took forever to get things straightened out. Not happy with the interest rate or my monthly payments, but at least I still have my home. Would love to get away from Ocwen.
N  1st of Sep, 2009 by 
Agree Disagree 0 Votes
I have nothing but horrifying experiences too. I just on hold for over an hour only to be badgered by the Indian man (who I could not understand) telling me that he was smart and knew all the laws, rules, blah blah blah. I simply wanted to know why they had said my foreclosure hadn't gone through yet, yet my credit report clearly states a foreclosure on it. I just want all the harassing phone calls (3 times a day all after 8pm) to stop. He transfered me to a supervisor at which I left a message. But from the sound of the other complaints, I will not hear back. They are by far the WORST bank I have ever worked with!
N  16th of Dec, 2009 by 
Agree Disagree 0 Votes
They are the worst I have every dealt with as far as Mortgages go. Our loan was just sold to this company for some reason because we have never been late or anything on our loan. However, the first notification we received from them was a late notice because they didnt' have the records transferred correctly. Then trying to get someone on the phone to answer your questions is the most frustrating thing I have ever had to do. I spent well over an hour waiting only to get a voice mail.

We want to get the loan out of this company because in my short dealings they scare me. The even funny part is that in the correspondence I received from them it says they are a debt collection company in the footer but in the header they say "Helping Homeowners is what they do! It sure seems like they are trying to help when you can't even get a represenative on the phone.

I will be filing a complaint about them with the AG's office and BBB...but it doesn't seemt o be doing any good.
N  9th of Feb, 2010 by 
Agree Disagree 0 Votes
I have not had the displeasure of being a customer of this bank, but I have been trying to purchase a foreclosed property handled by them. It appears that during their foreclosure process no one bothered to research owners or lien holders on the title. So when my closing date of 10/23/09 came along, we could not close because there was a second mortgage discovered. On 12/30/2009 the foreclosure for the second mortgage was filed, and as of today 2/8/2010, the 20 day summons has not been surved. After five months of being told by the listing realtor that it would only be one or two more months, and finding out from the attorney handling the foreclosure that it will be more like six months before this process will be complete, I have moved on. I have requested to reimbursed by OCWEN my home inspection, appraisal and survey costs, due to the fact that they fraudulently listed this property that they did not own. Waiting for a response from them. But from all of the comments I have read, I will probably never hear back from them, but I will obtain an attorney of my own and sue them for every thing I can possibly get.

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Ocwen Financial Corporation Logo Ocwen Financial Corporation
Customer Service
1661 Worthington Rd., Suite 100
West Palm Beach
United States - 33409
+1 800 746 2936
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