Tuesday, April 29, 2008

Ocwen Financial Ways to Hold Ocwen Accountable, Straight Up Info, Take It Or Leave It West Palm Beach, Florida


Here's a few more contacts for you to voice your concerns. Start here with contact numbers and names. Beat their phones down and their emails
Ocwen Consumer Ombudsman at (800) 390-4656 or Ombudsman
William.erby@ocwen.com - 561-682-8520ronald.faris@ocwen.com - 561-682-8560scott.anderson@ocwen.com - 561-682-8913call into the switchboard at 407-737-5000 and ask for other members of upper management email and phone number
The best way to get Ocwens attention is to call anyone above or below at the following companies that either supply Ocwen with your accounts or rate Ocwens performace and tell them how bad a job Ocwen is doing. Tell the companies that originated your loan how bad India is screwing up your account, terrible communication, lack of follow up, 5000 Indians, 5000 different answers etc... Tell the rating agencies that drive Ocwens stock price how bad a job Ocwen is doing. Again, Ocwen doesn't wake up every morning and say 'Now how can we screw our 400,000 accounts today'. Reminder, Ocwen makes more money via your performing loan vs a non performing loan, called an interest payment. Ocwen doesn't not intentionally or deceitfully try to break the law. They're just completely stupid via INDIA and upper management that can't settle into a consistent way of doing business. Everyday upper management wakes up and asks themselves how to make more money and they try different rules and regulations, internally, and hope that rules and regulations don't violate any law.
Lehman Brothers - Richard Fuld Jr.Fitch - Thomas Crowe at 212-908-0227 or Kathleen Tillwitz at 212-908-0239Standard and Poors - Richard Koch - 212-438-2513 or John Bartko - 212-438-7368Moodys - Fern Wang - 212-553-4621MorningStar - ?Try also - Credit Suisse Bank - If these numbers don't work, call 411 for updated info but call the decision makers about your issue.
Check Ocwens stock price - Pathetic - Ocwen stock price from 3.55 in 03 to 15 in 2006 back down to 4.65 in 2008. Erby will say, Well this and that, market conditions, economy, blah, blah, at the end of the day, little anticipation of your needs and his mismanagement which funnels down to his incompetent managment team.
As a reminder, Ocwen is a skeleton crew in Orlando, FL, under 125 employees. Intuit - AKA Quickbooks supports takes up the entire top floor and over 1/2 of Ocwens bottom floor. They are also leasing out additional space that Intuit can't occupy. Most of Ocwens foreclosure reps are now in West Palm Beach, FL. India is your biggest liability if your loan is at Ocwen. Reminder, tell the Ombudsman or a manager to raise the USAO flag so that calls to you and from you will route to the US NOT india. And don't take Ocwens excuse that calls will still route to India whent the flag is raised, the call won't. Also tell a manager to place 'USA calls in and out only' in the comments screens on the front screen. Tell your congressman to mandate all calls about a mortgage stay in the US. Site communication, privacy and security of your SS#s and personal data in a foreign country as reasons to keep your accounts in the US.
As far as the last comment made on 02/28 about why Ocwens doors are still open ?
I can answer that, they don't blatantly break laws but they are sloppy with their rules and constantly changing processes. India and the US communication is extremely weak. What a US agent and a homeowner can discuss normally, is foreign to an Indian, they don't have a mortgage system in India. They are learning on the job with your loan and their turnover is very high. Read my original email from 09/03/2007. They aren't crooks, they're just aren't very smart and you pay for their mistakes. When you have a delay in some sort of processing, It's India, when your payment is posted correctly or on time, It's India, when your payment is lost, It's India, when your fax can't be found, it's India, when your payment is sent back, It's India.
As for your complaints on this site. Waste of your time. Your time will be better spent when you begin complaining to rating agencies and the companies that supply Ocwen their loans. Don't complain to the originator of your loan, complain to the lenders company president. A few of the companies that feed Ocwen their loans are New Century, Delta Funding, Lehman Brothers and a host of others. Ask you lender who they farm out your loan to for servicing. Spread the word far and wide. The only problem with you sounding the alarm is that there are so few of you. Keep in mind, Ocwen services about 400,000 accounts. There are about 1300 complaints on this site. 4000 complaints are only 1%. So all you combined are less that .25 of 1 percent. But if you all call rating agencies, mortgage lender presidents, the BBB etc... you might get a more favorable response.
As for the main way to get Ocwen off your back. Pay your mortgage payment on time. A forbearance plan is a priviledge not a right. Basic Forbearance Plan 101. If your payment is 100.00 and you are behind 1 month, How do you make up the payment ? Pay an extra 50.00 over 2 months, or an extra 10 over 10 months, but until your missing payment is accumulated and then utilized to complete the missing payment, you do pay a late charge, but that's better than loosing your home. Ocwen doesn't want your home. Most of you have deferred maintenance needing attention, you may live in a bad area on and on. Ocwen doesn't want the hassle of carrying your homes cost until sold. They want you interest payment. They are rated as a servicer based upon delinquency.
Ocwens infrastructure is weak at best. They are constantly changing, never, never letting their process settle or gain strength before changing again. All this does is to keep the employees off balance and compromise the servicing of your loan. Ocwen calls Six Sigma constant process improvement, but at the end of the day, every conversation splinters the effort of servicing your loan that much more.
If you read back years ago, you can find many posts from Robert the crybaby in Crestline California and Marlene the motormouth from Miami, FL. The worst homeowner that didn't understand the process of loan servicing was Kweku - (puke-up) Hansen. These 3 main whiners were the worst. They don't have a clue how the home they own became theirs or their responsibility once they signed on for the loan. Make it a point to educate yourself on homeownership responsibility. You have a responsibility to repay what you borrowed. You didn't sign a promise to pay.... unless this or that happens in your life including medical issues, loss of job, economic conditions or even if you croak. Ocwen is terrible as a loan servicing company, but you signed a promise to pay. They are governed by what you signed per the companies that assign loans to them. So, quit your complaining and pay what you owe on time.
I'll address any issue from anyone, if you don't pay your mortgage payment for whatever reason, you are guilty. Unfortunately, I still have to audit Ocwens processes and screwups and I'm still amazed at the ineptitude but still not excuse for your lack of prompt payment.
Ocwen Facts of LifeWest Palm Beach, FloridaU.S.A.

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