OCWEN Loan Modification From Ocwen - Very Very Terrible Service !!!! Orlando, Florida

I recently was approved for a loan modification from Ocwen. They requested I put down a down-payment for 'X' amount, but needed for me to sign a 'loan modification agreement' first before I pay this down-payment. They mention I should recieve this 'loan modification agreement' within 7 to 10 business days. I wait and wait and still no 'loan modification' in the mail. I call and let them know I've not received the 'loan modification agreement', so they said they will go ahead and re-mail the 'loan modification agreement'. Till this day 10 business days have passed and I have not received this 'loan modification agreement' by mail so I called back the second time and told them just to e-mail it to me instead, this was just getting ridiculous. The 'loan modification' was supposed to have already been signed and sent (faxed) back by a specific date. Now that I've printed it from the email, I call Ocwen to notify I recieved the 'loan modification agreement' by email 'FINALLY' and they told me its too late to send it in....'what kind of crap is that !'* This company is terrible all together, customer service is terrible / they have a 'I dont care about you' type of atitude. They just do NOT understand and care. I've had Countrywide in the past, there customer service were pretty sharp compared to these knuckle-heads.....* The Feds Need To Shut This Company Down - Too Much Bad Is Coming From This Company And VERY Low Confidence w/ Among Its Customers/Consumers !
JonColorado, ColoradoU.S.A.
From: http://www.ripoffreport.com/reports/0/408/RipOff0408998.htm

Don't do Business with Ocwen!

I don't how they can still in Business. The service from Ocwen is awful. They want to charge for any thing. They act like a predator who wants to strangle someone litterally. It is an bad experience, a nightmare. DON'T DO BUSINESS WITH THAT BANK! STAY AWAY OR WALK AWAY!

Ocwen is Bad News

We like our home and we don’t want to move, but they don’t care and they are heart less lender. We asked to temporary reduce our interest rate or to drop the prepay penalty, so we can refinance to get a better affordable payment. They would not do it. They just sent us paperwork to discount the sale of our home. This OCWEN is bad news. I will ensure any future homes will not be managed by OCWEN. I will make sure that it is in my contract that my loan cannot be sold to OCWEN or managed by them in the future in any way.

Ocwen Negative Stars!

Can I give negative stars? I have never dealt with a company that is this bad. We have had nothing but problems with them. My brother in law works with a real estate/bankruptcy attorney and when I called to ask him what he knew about Ocwen - he started to laugh and said they were on their bad list as one of the worst lenders to deal with and they would never recommend them. When you are talking to them on the phone to straighten out the numerous problems - their phones mysteriously disconnect. They kept screwing up our escrow and they said we didn't have insurance. We had sent them proof of insurance multiple times (and so had our insurance agent) and yet they still forced insurance on us so they could make money. When we asked for the payoff amount - they added tons of fees (a convenience fee? Convenience for whom?) and extra interest. Liz G.

Ocwen A Total Scam

I wondered why SusanYi was being so friendly and chatty. In a whole hour long conversation (which with other lenders takes about 10 minutes) she hemmed and hawed and tried to push their own "power buyer" agents, LYING to me telling me they have some secret access to listings I couldn't possibly have (an MLS listing is on virtually EVERY realtors listings website, there are no "secret" listings) and tried to push the interest only thing which I don't want for higher interest rate and a bunch of other garbage.
I'm no newbie, I've owned houses before so I immediately screeched to a halt when she, after an hour of chit chat mixed with lots of hard sell and very little info tried to bully me into giving her my credit card or bank account number so they could take a "deposit" of unspecified amount, for unspecified services to get a preapproval only (not even a real prequalification). NO ONE (no REPUTABLE lender) will EVER ask you for good faith money, EVER EVER EVER. Don't fall for it! Most really good ones won't even ask you for the $25 credit application fee until after they've done all the preliminary work and are ready to actually offer you something, and if they do, write them a check, do NOT give them your credit card or debit card information. This is a SCAM!

Ocwen: The Mortgage Mafia

I couldn't give them a zero . Two thumbs down is more like it. They are crooks and I have never seen any mortgage company act this way. If you don't have Insurance on your house they will put it on your house for $896.00 for a $ 60,000.00 House.
They will pay up your property taxes, and your one to two months behind and then charge late fees and offer you that great forbearance plan and don't even look for the lawyer fees and they charge you for the property search, who told them any ways they could do that? They stink! I don't want them as a mortgage co. I was sold to them by Ameriquest who also has a class action law suit against them. I say I hope they go under.

Ocwen Raped Us Financially

I have had OCWEN mortgage since November 2006. I have been in a nightmare with them every since. OCWEN signed us up with a company called Total Protect Home Service Plan without our authorization. This company has billed us for $455.40. OCWEN has also charged us a hazard insurance, which we did not authorize. When I send in payments, they hold the payment in a suspense account until my grace period has passed so I will be billed a late fee. They have threaten us with foreclosure several times. I cannot speak with anyone from that company that speaks clear english. We feel like OCWEN has raped us financially. If anyone hear the name OCWEN, scream FIRE and run like hell

Ocwen is The Worst

Of all the Mortgage Companies I have had in the last 15 years, this is definetely the worst. They cost me a very attractive and beneficial refinance with someone else, due to them not providing a payoff quickly and gettting it terribly wrong. I had to fight just to prove that my pre payment penalty was only a fraction than what they quoted me. You can't speak with the appropriate department and they care more about their processes than they do their customers. Criminals I could write you a book about OCWEN, they are the worst, total rip off artists. Right now however I am steaming because I just went to my mailbox. This is the crux, I just got divorced I got the house, my ex was paying the mortgage directly out of his account. He notified them 2 months in advance that, that would stop, to no longer take it out of his account that I would be sending the mortgage. I did exactly that, One month. so what do they do they also hit his checking account so he puts a stop payment on his account incase they do it again.
So the next month same thing I send payment and low and behold they hit his account AGAIN. he calls them because the account is now hit with a returned check charge. I just get a letter from them in the mail notifying me that WE are responsible for the return check charge. They are the biggest criminals on the face of this planet I cannot understand why they are still in business! Predatory Lender My two mortgages recently got purchased by Ocwen. I’ve only had them 4 months and I hate them already. They start calling on the 2nd of every month, 3-4 times a day on my cell phone to find out when I am going to pay my mortgage. It’s either someone from India or it’s a hang-up call. It’s ridiculous. I was doing the bi-weekly payment plan, but I stopped that because it was costing me a fortunate in fees and the payment wouldn’t get to Ocwen any earlier than if I mailed it myself. If you pay online, they charge $10. $10!!!!! What a rip off!!
My problem is that I’m stuck with them for 3 years or until someone else buys my mortgage because I have a 3 year pre-payment penalty. Arggghhhhh!
This company needs to be shut down. Period. They are at the top of the list for “Predatory Lender.

Ocwen Cheated Us

We have the VERY deep displeasure of having Ocwen for my Mortgage company. When you call them on the phone (in India) they do say “We have to inform you that we are a debt collecting agency and any information we collect can be used for that reason”. They do leave out that they will lie, commit fraud and cheat you to do so. Back in August of 2006 my wife had a bad car accident and for the first time in 3 years into our loan we fell a month behind on our Mortgage payment. We received a call from Ocwen (from India ) about our payment being late, we told the agent the problem and that we will get caught up as soon as possible. The agent then told my wife and I about a payment plan that will get us caught up…so called plan was a Forbearance plan. With my wife and I both listening to the agent (from India) on our speaker phone he told us, that if we add on $156.00 a month to our Mortgage payment we can be caught up in 9 months. I asked the agent once again on the phone, so if we pay a little extra each month that will catch us up, he said yes!
The agent was a liar, now that my Forbearance plan is over we are in the same spot we were before we started the Forbearance plan…WE ARE STILL ONE MONTH BEHIND.
The plan didn’t do anything for us, we were lied to , we were cheated and as far as I’m concerned Ocwen committed Fraud ! I tried to explain to the agent (in India) WHY would I get on a payment plan that would to me no good, your agent, 9 months ago lied to myself and my wife. They robbed me of our money, I guess I’m stuck BUT, I’m going to copy and paste my story on EVERY Ocwen Complaint web site I can find, I’m contacting the Attorney General of Missouri regarding the practices of Ocwen and The Better business Bureau of Missouri and Florida.
So, if you EVER have a choice, STAY AWAY FROM OCWEN !!!!!
PS. I’m am Soooo tired of talking to people that can hardly speak English (from India

Ocwen I can't even give them a 1

On a scale of 1-5 with 1 being the worse.................... I can't even give them a 1
I’ve had a loan with Ocwen for 2 years, when I first received the loan they bombarded me with calls 3 – 4 a day with offers and pestering me as to when I would be paying my loan payment that wasn’t due for 30 days. The person who would contact me spoke horrible English. Now I’m not against people with accents and or working with US citizens but I feel they should have a grasp of the English language to the point I feel they understand me and that I don’t have to repeat myself over and over and over. I asked to be put on a “do not solicited” list and that ended the calls. I never received statements, never received any notices and the tax information I need for my taxes. I paid online using their own payment system that gave me the amount to be paid which I did. On the 25th payment which is when the fixed ended my payment was not processed claiming I had entered the wrong information so the following month I sent 2 checks one for the previous month and the current in 2 envelopes sending both with certified mail and return receipts. They cashed one and held the other, and then I sent my March payment which they held.
One day in March I get a letter that my home is in foreclosure and they want to buy the house. I called the number in the letter and chewed the man a new #@$ - hole, accusing him of attempting to scam me and that I would be contacting the proper authorities and the news agencies. He responded with all my information and Ocwen’s phone number and stated “before you call the authorities and the news, call Ocwen and you’ll find out the truth yourself”. I did and found myself 20,000.00 in the rears, they have been holding my payments due to not paying the correct amount, they admit to getting all my mail back and if I just pay 20,000.00 they will fix my credit and my loan would be current. They offer me a “deal” pay them 8,000.00 upfront, sign agreements not to sue them and not to go into bankruptcy and pay them $4,100.00 a month for 18 months and all would be good. I asked them why when my mail was being returned someone didn’t call me and I was told I was on a do not call list and if they called me I could sue them.
I have caught them in so many lies that it is not even funny. They contradict themselves with every phone call. I email them with my concerns and explain the whole situation and the response doesn’t even address my questions. They call me back so that there is no paper trail of what they are saying and 4 months later and I still don’t know my payment. Now the guy tells me his customer service person gave me the wrong information and must go through strict Ocwen retraining. He now claims none of my mail was returned, he claims they have held no payments and the envelopes they received were empty. This past Saturday April 7th, I received one of the checks they were holding back and on the check my correct address was put into the memo by someone at Ocwen processing when I ask him as to why I haven’t received any new mail at the corrected address he claims they just got the corrected address a couple of weeks ago and they do not have to send me anything. When I ask that if that were true why did the check that was returned have the correct address on it and it was dated 2 months prior, he states that I wrote it in the memo section or had someone write it in.
I can’t find the words to express my feelings on this. It amazes me that they are allowed to do business in this country. They are fleecing the people with loans with them and I can't believe they can wake up every morning and do this with no remorse. Crazy thing is they have the ability to make it right with hundreds of people, they have the opportunity to be a great company and they choose otherwise.
Even Ocwen's phone and information system is a joke. I called and it tells me my last payment of $2634.95 was received on March 5th 2007 and my NEXT payment of $1,2040.26 is due DECEMBER 1, 2006, 2006? They are a year behind!!!! and I didn't even owe that!!!
Then it tells me my hold time is 87,000 minutes.

Mortgage servicer Ocwen's practices raise ire

From: http://www.msfraud.org/Articles/Ocwen.htm
By Jeff Ostrowski, Palm Beach Post Staff WriterSunday, January 18, 2004Michelle Trott got a nasty surprise when she sold her home in Broward County last year to move to Jupiter.Ocwen Financial Corp., the West Palm Beach company that collected Trott's monthly mortgage payments, demanded that she and her husband pay $600 in late fees for monthly payments the Trotts say weren't late.Ocwen also charged her $200 just to tell her real estate agent how much she owed on her loan, Trott says.What's more, she says, Ocwen dinged her credit score by reporting her mortgage payments as late, forcing her to pay a higher rate on the new loan on her Jupiter home.And Ocwen pushed the couple to buy an expensive homeowners insurance policy, even though the Trotts say they already had coverage."(Ocwen) posted our payments late all the time," Trott said in a recent interview. "It's not fair. It was a very unpleasant experience. I wouldn't recommend anybody going with that company."Ocwen President Ronald Faris disputes Trott's claims. She made "dozens" of late payments, he says, and Ocwen forced her to take on a homeowners policy only because she let her policy lapse.Moreover, he says, Ocwen doesn't charge $200 to issue a payoff amount; the company charges $10 to $30 for that service.Still, Trott isn't alone in her gripes about Ocwen, a mortgage-servicing company that collects monthly payments from thousands of homeowners nationwide, most of them "subprime" borrowers with spotty credit histories.Ocwen faces suits from customers in California and Connecticut who make allegations similar to Trott's.The nonprofit National Consumer Reinvestment Coalition says it has 300 complaints about Ocwen, while the Better Business Bureau of Central Florida last year received 146 consumer complaints about the company, up from 42 in 2002 and nine in 2001.Firm: No financial incentiveAs borrowers' attorneys seek to portray a pattern of unfair practices by Ocwen, company officials say they've done nothing wrong.Investors seem to agree.In spite of the lawsuits, the company's stock (NYSE: OCN) recently shot past $10, up from $2.60 a year ago. Ocwen has no financial reason to gouge customers or to post their mortgage payments late, Faris says. He calls the suits against Ocwen "misdirected and baseless.""We don't make money off of delinquent loans," Faris says. "Our favorite customer is someone who gets their bill and pays it. We make a ton of money on those customers."As a mortgage servicer, Ocwen doesn't lend money to borrowers. Rather, lenders hire the company to service their loans.Attorneys and some industry observers argue that mortgage servicers have a good reason to post payments late: They get to keep late fees."Ocwen has a financial incentive to call a payment late so it can collect a late fee," says Jack Guttentag, a professor emeritus at the University of Pennsylvania's Wharton School of Business who runs the Mortgage Professor Web site. "It does not have an incentive to push the borrower into bankruptcy, unless the borrower has so much equity in the property that it will cover all the expenses of foreclosure, including legal and other fees which can be a source of profit to the servicer."Faris denies Ocwen unfairly posts payments late, and he says the seemingly large numbers of consumer complaints sound worse than they are.Ocwen handles 350,000 home loans, so the several hundred complaints lodged by customers represent a tiny fraction of its clients, Faris says."We're not saying we never make a mistake," Faris says. "Mistakes happen on an individual basis."But, he says, the company tries to fix errors quickly. Its customer service representatives are readily available by phone or by e-mail, Faris says.That's not the experience of Trott or of Ocwen customer Eleanor Blackmer, who has three years left on the mortgage on her home in suburban Lake Worth."We've got a three-year sentence with Ocwen," Blackmer says.Both Trott and Blackmer say phone calls to Ocwen result in being put on hold 20 minutes or more, followed by conversations with Indian employees with difficult-to-decipher accents.Ocwen employs more than 1,200 people in India, where it has offices in Bangalore and Bombay."You try to call them and they don't understand and they don't speak English, because they're all in India," Blackmer says.Faris says Ocwen makes a point of hiring Indian employees whose English can be easily understood by Americans. "It's difficult for me to address the accent issue because I can't comment on someone else's experience," Faris says. "I've talked to many, many of our agents in India on the phone and I've never had a problem understanding them."Faris says that Ocwen's customer service is better than it's ever been. As a federally chartered thrift, the company's collection practices are closely monitored by the U.S. Office of Thrift Supervision, he says.The gripes about Ocwen are on the rise, Faris says, because the media have been covering the mortgage industry more closely -- CBS News last year aired a story about complaints against Ocwen -- and because plaintiffs' attorneys are looking for the next payday after Fairbanks Capital.That mortgage servicer last year agreed to pay $40 million to settle allegations it engaged in deceptive practices that victimized as many as 250,000 homeowners."I don't think there's increased complaints," Faris says. "There's increasing attention by the media and by the plaintiffs' lawyers. They saw what happened at Fairbanks Capital and are hoping they can find a situation similar to that."Analysts approveThe barrage of complaints against Ocwen comes as the company pulls off a financial turnaround.Its shares got a boost this month when an analyst at JMP Securities in San Francisco rated Ocwen a "strong buy" with a target price of $18 a share.After posting big losses in 2001 and 2002, Ocwen turned a profit in 2003, in part because it has cut costs by hiring customer service employees and software programmers in India, where wages are cheaper than in the United States.And the company last year won a contract to handle the foreclosed properties of the U.S. Department of Veterans Affairs, a deal that could bring in revenue of $95 million to $125 million over the next five years.Still, the lawsuits pose enough of a threat to Ocwen that Fitch Ratings, a corporate credit rating agency, warned last month it might lower its "servicer rating" on Ocwen."We're concerned," said Kathleen Tillwitz, senior director at Fitch Ratings. "Is it a pattern of mistakes that were malicious? Or is it just the one-off mistakes that happen in the daily course of servicing?"Fitch has yet to lower its ratings on Ocwen, however. In a statement last month, it lauded the company for "successful practices and procedures," "expertise" and "well-trained staff."Meanwhile, consumers' gripes keep coming and Ocwen keeps explaining.Jackson, Mich., homeowner RaeAnn Walker says Ocwen has unfairly posted her payments late and charged her legal fees.And one suit accuses Ocwen of unfairly charging borrowers $95 in legal fees for collection letters.Faris calls the charge a legitimate cost of doing business.