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

Ocwen Loan Servicing / bogus charges!

Orlando, FL, United States Review updated:
5
Contact information:

June 2005 I was self employed so initially got my mortgage loan with Freemont Investments as a non docs loan, even though I put down 50% I was given a loan at 8.75% they sold it 6 month later to Ocwen in Dec 05. During this 3 years I never paid late and even tried to lower the principal by sending more than I was required. Sometime during 2006 they sent me some offering of hazard insurance which was lower than the one I had on my own and I decided to switch to the lower one. On Oct 2007 they sent me a request to prove flood insurance to which I complied by sending a copy of my survey indicating that there was no need for one.

A week ago I requested a payoff quote which I received via email a day latter and it was then I realized that their insurance had more than doubled, that they had gone ahead and put flood insurance and they were charging me $2,360.00 as PREPAYMENT PENALTY, the whole amount increased over @9,000.00 over the current balance.

A day latter I received a Fedex with a 'loan Modification Adendum' and a letter signed by Chris Simmons and Ronald Faris threatening to foreclosure and ruin my credit if I didn’t pay immediately a shortage escrow of @5,200.00 (imposed insurance) or signed an addendum to add it to my loan.

During the following days, I faxed again the survey of the property and acquired insurance on my own, called not less than 20 times just to be told that either they don’t have the info to update my file or to call later, and they have continued to give me the run around regarding this manufactured escrow shortage.
I requested a Payment history printout and they sent me via fax a fuzzy IMPOSSIBLE to read paper, the writing extremely small and fuzzy. There is no way to make heads or tails of any of it.
0

Comments

Sort by: UpDate | Rating
Ka
  19th of May, 2008
Agree Disagree 0 Votes
I have been trying to get through to your agency about the loan modification agreement. I have questions I need to ask.
Will my loan payment be $681.97 5 years? What if I am already behind on my taxes? Do I loose in any way? How long do I have to catch up on my taxes?Could you give me appox. how much the annual inetrest charge on the unpaid principal balance will be?
Why doesn't my SS #, loan #& name doesn't match so that I can access my account and/or contact youI have tried to contact you by:
phone atlest 10 times
E-mail 2
Ea
  30th of Nov, 2009
Agree Disagree 0 Votes
I agree fully with everything that I have read, its happened to me as well, I have tried calling to possibly get the date changed that my mortgage is due can never get anything but an automated reply and press this etc Any company that will allow Ocwen to purchase a mortgage does not have the consumer in mind at all.

Post your comment

Submit
Ocwen Financial Corporation Logo Ocwen Financial Corporation
Customer Service
Overall Satisfaction Rating

252 Reviews
1661 Worthington Rd., Suite 100
West Palm Beach
FL
United States - 33409
+1 800 746 2936
View Full Information
     

Reply to

close
Send