OCWEN Loan Servicing, LLC Stuck in the worst mortgage ever. They refuse to remodify. Can't refinance with anyone else Orlando Florida

I am stuck in what more than one person has stated to be 'the worst mortgage they have ever seen'. I refinanced with Fidelity in Charlotte N.C in April of 2007, by the way they are no longer there so I can't contact anyone. OCWEN got my mortgage somehow and I found out this year that my 30 year fixed which I was told by Fidelity turns out is a 50 year 5 year fix which I'm paying more than before I refinanced. This of course is my fault as I let the quick talking mortgage broker run too much.Anyway after finding out that I have this ridiculous mortage that I was also told I should have never been put in a 10% interest it should have been around 6% I of course tried to refinance....nobody will touch it. So I'm stuck paying a high mortgage with high interest and can't get out. My husband lost his job and now makes half of what he was, in October I will have to start repaying student loans and there is no way that this mortgage is going to work.After calling OCWEN many times and always speaking to someone in India, they will try and get away by when you ask where you are calling they say 'we have call centers in florida', but ask ...'no, where are you?' and they will tell you India. This company will pretend they will try and work with you. I spoke with a supervisor who I stated that I feel my terms of mortgage should be redone since I should have never been given this in the first place, he made me fax all my paperwork in and told me I would hear back in 5 days...okay 2 weeks later I have to recall only to be told that they see no reason for remodification since I'm not late and can pay. They then told me that I had to change my financial statement to say that my bills weren't so high and then they could 'work with me'. This is fraud and I let the gentleman know this, he said 'fine'. Well after lowering my bills and still not hearing back...2 weeks later called again only to be told....no we will not modify, you can pay your mortgage. I have yet to receive any letter denying my modification request. I spent alot of time faxing information when they had no intention on ever helping. I asked them if they were waiting for me to lose my house before they would help but after reading posts on them I don't think they would even help then.I'm stuck and don't know which way to go....I'm thinking on selling the house but I probably won't make enough to cover what I owe on the mortgage and there is a $6,000. early pay off. If someone has any advice that has dealt with this company please let me know.
Callecoco Inverness, FloridaU.S.A.

From: http://www.ripoffreport.com/reports/0/363/RipOff0363771.htm

Litton Loan Servicing, Fairbanks, Temple Inland Mortgage, OCWEN, Wells Fargo, Option One, Homeside, Countrywide, but ALL Predatory Lenders FRAUD!

This is not just about Litton Loan Servicing, it's about the criminal business actions of the majority of the lending companies today. Litton Loan Servicing, Fairbanks, Temple Inland Mortgage, OCWEN, Wells Fargo, Option One, Homeside, Countrywide, I could go on for days listing company names. They are ALL alike in their business transactions. End result to the consumer - FORECLOSURE.Come on FEDS WAKE UP! Who will be the first to bring these giants down? This is happening right under the noses of our own government! Is there no one on the take here? If I can find the needle in a haystack(one HONEST politician) who will be brave enough to take a stand and know when ENOUGH IS ENOUGH! Hardworking Americans are being forced into the foreclosure. The American Dream is being stolen away from the average Joe working class by big money conglomorates that feed off of unsuspecting tax payers.This FRAUD MUST end!
Ann AAkron, OhioU.S.A.

From: http://www.ripoffreport.com/reports/0/065/RipOff0065970.htm

OCWEN LOAN SERVICING ROAD COMPANIONS WITH DogHorribleIdiot; Mortgage Company Run Away, Run RunNN

DHI- initial mortgage company. Mark Toelle (their loan officer, Fairfax County VA) was asked to prepare 30-year-fixed (2nd house- I knew what I wanted); Mark lied, covering the loan terms (which was actually arm) with deceptive language ('rate will float to lock', he says). Around this he was pressed on the 30-year-fixed, he continued to lie. There used to be trust, honesty; there has to be some degree to conduct any business . . . Six months later, the following year, via US mail, the letter (from DHI, resolution department) indicated the loan is not complete, in a default status (sig. not notorized, copies I signed at closing enclosed, pls complete, bloh. bloh . . .) Changes were needed to meet the (loan) program guidelines. All the while payments were billed to me and paid.
Talking to Carolyn Bertelson VP, DHI -> 3 issues; 1) loan not complete, in default status; 2) issue of appearance of fraud (via US mail), & 3) I want a 30-year-fixed.
On-line, I find reports about Ocwen: what is the link between this obviously corrupt builder/lender (DHI) and their using Ocwen as their loan servicer? I am digging . . . My loan adjust in 10/10/08, and my payments have increased from $2500 to about $2780. I will get the 30 year fixed loan I should have gotten. CB did not answer why I did not get the 30 year fixed, nor why a Mark Gaulbreson (someone at the title company) altered my signature on loan documents (copied thereof mailed demanding that I sign).
Additionally, a loan scam was featured in local news ->DHI (nearly all houses were sent into forclosure, presently they are empty, and a neighbor told me that the FBI was investigating). At this point, I am at the beginning, however, I am determined to win, and strong enough to go the distance (this journey will require). I say to others dealing with DHI or Ocwen: be strong, endure and keep your cool. I will provide updates as things develop.
My options now are 1- loan modification (the only modification I will accept at this point is the 30-year-fixed that I originally wanted); 2- pursuing mail fraud charges (waiting for fraud unit of postal service to return call, this is federal offense which carries a million dollar fine maximum for business or 30 years imprisonment); 3- evaluate the guidelines of my (loan) program for talking point & 4- file bankruptcy (which I did once before, and it really did not affect my life at all. How do we get a class action suit going here? Chow.
GailWoodbridge, VirginiaU.S.A.

From: http://www.ripoffreport.com/reports/0/368/RipOff0368092.htm

Ocwen Federal Bank Ex-employee Perspective on Ripoffs.....willing to help in any way...they are scamsters...FINISH 'EM

Hi ppl......my names' Rick....an ex-employee of OCWEN India.......well i worked with ocwen for a lon time...abt 2 years........thats when i came to know abt the scams that were runnin within the organization.....i tried.....(in my meagre capacity) to let my voice be heard ad stop the fraudulent over-charging of innocent borrowers.......i even took it to one of the board meetings.....but what i got out of that is i lost my job....fired on grounds of IMMORALITY......and was left with word in the industry ensuring that i got no other jobs.....Regardless....i know and have insider info on ocwens practices and frauds....please let me know how i can help.....BRING DOWN THE 'BAD FOX.......'
RickyOrlando, FloridaU.S.A.

from: http://www.ripoffreport.com/reports/0/124/RipOff0124335.htm

I was contacted yesterday by Ocwen.

I was contacted yesterday by Ocwen. The number that showed up on my caller ID was from Orlando, FL. I re-dialed that number and it claims that number is not in service. The same number called me today and it was a recording to tell me to stay on the line. A minute or so later a man from India started asking me questions. He had my previous name prior to marriage and told me I owed them 1500.00 from 18 years ago. I told him I never had a credit card back in 1989 ( I was in high school) he said it was a loan. Well obviously, I never had one of those either I told him. He kept asking me to verify my SS#, which I would not. He didn't even have my married name, my actual address. He did have my birthdate correct, which I told him he can get from in the internet. This is a SCAM! He told me if I would give him my email address that he would send me over this bill. Told him no to that too. I told him if I owed money on a credit card or loan it would have showed up on my credit report for years, which it didn't. I know I had never had either of these things at the age of 18! I would be VERY weary about accepting these calls. I then told him that I wasn't going to give him any information on me, he then said... Are you refusing to pay this bill? Couldn't believe it. I then did a google search for Ocwen and all it talks about is fraud and scams!
Caller ID: 4072491572
Caller: Ocwen financial
Caller Type: Collection Agency

From: http://800notes.com/Phone.aspx/1-866-218-3883

Discussions for Ocwen Financial Corp.

From: http://finance.google.com/group/google.finance.659336/browse_thread/thread/7674f5b756d90d45/a7b3fc02123dbea3#a7b3fc02123dbea3


2007-03-05: Ocwen Loan Servicing - Lender & Servicer (no MSM story yet) A reader sends in this report on a former bank and now only loan servicer & lender, which seems to have been largely predicated on fraud:
OCWEN LOAN SERVICING Orlando, FL 1-800-746-2936
Services loans for the former Aames Home Loan dba Aames Funding Corp. They used to be a bank, OCWEN FEDERAL, until they ran afoul of the OCC. Now they're just one of the worst predatory loan servicers and lenders. Here's a sampling of the litigation they're currently facing:
Borrower Class Action Lawsuits: Over 500 separate class action lawsuits have been combined into one jumbo class to be heard in the Northern District of Illinois. Former employees testifying about how OCWEN intentionally defrauds borrowers -- it's built in to their software which was designed by this IT guy who is blowing the whistle.
Employee Lawsuit(s): Settling in favor of the Plaintiffs
Investor and Supplier/Vendor Lawsuit(s): Just getting started
U.S. Federal Government Lawsuit(s): According to OCWEN's SEC filing, they are being sued by the U.S. in the amount of $700 million +. Suits arose after one of their subsidiaries filed for bankruptcy protection in the District of Delaware Bankruptcy Court for that amount - $700 million in debt. Here's the part the Feds and the investors are upset about: This subsidiary transferred ASSETS to OCWEN just before filing on their liabilities. That's called a fraudulent conveyance.
Other Lawsuits: Everyone's suing them.
According to the SEC and OCWEN's own report, their net worth is $325 million--oops not enough to satisfy the Feds and investors. Borrowers who were defrauded and wrongfully foreclosed are at the bottom of this 'crumby' food chain.
According to Moody's Rating Service, they've decided not to rate OCWEN's stock--this after downgrading it. The $325 million may be a negative $325 million by this time.
SOURCES
My online sources included the public records found at Moody's, the SEC, Delaware District Bankruptcy Court, George Miller, Trustee, and The Rip-Off Report and others.
Looks pretty bad.

Ocwen Loan Servicing Misapplied funds junk fees early forclosure attempt shell games stonewalling First time homebuyers mortgage nightmare Orlando Flo

From: http://www.ripoffreport.com/reports/0/300/RipOff0300435.htm

We purchased our first home two years ago and our loan was quickly sold to Ocwen. Our original loan started at $2330/month, and two years later was increased 40%, an additional $865/month. In addition to an outrageously high, interest only payments we have encountered these practices with Ocwen:1. They misapplied one of our mortgage payments, crediting as an 'extra' payment to pay toward the principal instead of our standard mortgage payment for the month. 8 months later, out of the blue, they reversed this payment from our loan and said we were delinquent. After many, many hours and letters to the research department they finally credited the payment back, but took out a chunk of it in fees, first, so that it was no longer good as a full payment and got locked into an escrow account as a partial payment while they continued to report us late on our payment - for their accounting error. 2. We were forced into a forbearance plan while we 'sorted all this out' being told that the alternative was to go into foreclosure - for their accounting error. We agreed to the forbearance plan under the condition that it would be reversed as soon as the error was cleared up. It never was because they took so much in fees out of the 'credited back payment' that it was useless.3. Our forbearance plan expired in October of 2007 and we paid it off in full every month and on time. We were automatically signed up for another forbearance plan to pay for property taxes. We were never even notified, much less asked for the second forbearance plan. They simply did it. I had to call to find out why we were suddenly being asked to pay so much more per month.4. We have been charged thousands of dollars in absolutely junk fees. 5. Most currently and importantly - we have just been served a notice of default when we are only 30 days late. I have one letter here from Ocwen dated December 6th, 2007 which says it is a 'friendly reminder' that the current payment for December has not yet been received. I have here also the certified notice of default dated January 3rd, 2008 - less than one month later. What has happened in the meantime is that I contacted Ocwen about modifying our loan back to it's original terms because the increase of $865/month is just too much for us. They were not willing to accommodate a modification and responded to our last inquiry with the notice of default and apparent fast trak to take our home. We are quickly trying to do a short sale so we can move on and be free of this ongoing nightmare with as minimal effect to our credit as possible. These are only the highlights - misapplied funds, junk fees, forced forbearance plans, premature notice of default (we're barely 30 days late!!) and outrageous increase of mortgage. This doesn't include the 2+hours of hold time, the stonewalling, intimidation I've encountered while talking on the phone with the representatives. Every month our statement is different, different fees, different totals of what is owed. No one will explain them to me and only highlight again and again what I need to do and pay or they will foreclose.We would definitely be interested in joining any class action lawsuit. HeatherScotts Valley, CaliforniaU.S.A.

Ocwen Loan Servicing LLC Unlawful Business Practice in thier Loan Servicing Orlando Florida

From: http://www.ripoffreport.com/reports/0/297/RipOff0297310.htm

My 80/20 mortgage was sold to Ocwen after we bought our house. I missed a couple of payments (2) due to my wife being laid off and agreed to go into a forebearance agreement. I was forced into having an escrow with them, and since then, they cannot even get their accounting right. I wrote a certified letter asking for a complete Validation of Accounting on my account. They have illegally paid an insurance company I did not authorize, and paid my taxes and new insurance and are trying to charge me the entire thing in one month. In November they say I owe $7,000 and now it's $8,000, and again it's back to $7,500. I find out in they have sold my mortgage and WILL NOT tell me who owns it, just that they service the notes. Everything they have done is illegal. I am retired on permanant disability and cannot afford a attorney. Now, they inform me I have till the 27th to pay $7,600 or they will foreclose.They have for months, sent statements to me and so far, have grossed up the amounts owed in letters sent, but I go onto the website, pull up my account and the statements are what I have. You cannot get them on the phone as you are put on hold and told it will be 99 to 105 minutes. I could use some help. Is there a classs action suit against them in Texas?GaryHaslet, TexasU.S.A.

Ocwen Mortgage refused payments, charged multitude fo fees totaling $1000,s tried to force forclosure 3 times Orlando Florida, California

From: http://www.ripoffreport.com/reports/0/297/RipOff0297232.htm

I filed chapter 13 in 2001 from divorce, ocwen refused payment so my bankruptcy attorney Gardner Law firm set up to make payment 4 times and had to go to the judge to get them to accept payment.Ocwen began charging me many different kinds of fee's for bankruptcy, legal ,several property inspection and maint. totaling several thousand dollars.On three occaisions they refused payment untill I paid fees, charged me late fee,s and payments I did not owe to force forclosure. I was told on several by different individuals that they intended to forclose on me because I had a lot of equity and they would do what ever they could to do this.In Dec of 2003 I wired them before 5:00 them aprox. $8600.00 (4 payments they refused and 2 payments I did not owe so as to include all fee's due to date). I did not have to make payment until Feb.of 2004 due to overpayment. March of 2004 they refused payent as I owed $1700. in fees, I started to seek refinancing, they told me they would and did do what they could to ruin refinancing, and started forclosureTo this day they are holding a payoff check, they paid taxes after being told they were already paid and charged $12,000. for fees again. I have conflicting information from them and hard copies of almost everything I have listed. I have witnesses 2 attorney's and 2+ mortgage co's that can verify how hard it is to deal with them, they disconect you eveytime you call and give you false information, put you on hold for 30 mins. or more. I have more information available and names and phone numbers if needed. also these individuals will write statments as to the fact.Rogerlong beach, MississippiU.S.A.

Delta Funding / Ocwen Delta Funding and Ocwen create false forclosure to take my equity and home Woodbury New York

From: http://www.ripoffreport.com/reports/0/293/RipOff0293649.htm


I am one of many who has fallen victim to mortgage fraud at the hands of Delta Funding and Ocwen. In short the company created a scenario where my taxes and Mort. payment were mysteriously being paid differently and then not at all. Claims were that I have been behind on Mort. payments in the number of 30 plus payments and that taxes were not collected and some how now lost paperwork. Yes... 30 plus payments... totally impossible. Taxes are a total lie.. if I missed one there would be yellow tape marking off my property. We all know that. So I sent all proof of taxes paid and the 2 and a hlf years of mortgage to what appears to be a fax machine in a vacant building in Florida. Although I had irrefutable proof, I was somehow still bullied into selling my home in order to save it from foreclosure!? I never recouped the lost equity that was very large, and I never had proper representation to file for any recourse. Now I found this site on my own years later after hearing about Mortgage scams. I ask anyone out there to inform me on how to take action and sue this disgraceful company for the money they stole from me... it was enough to secure my parents in their later years. Now every one is suffering.Thanks in advance,ChrisChriscenterport, New YorkU.S.A.

Ocwen Loan Servicing - Ocwen Federal Bank ripoff Breach of Settlement Agreement West Palm Beach Florida

From: http://www.ripoffreport.com/reports/0/269/RipOff0269655.htm


Ocwen,(which is NewCo spelled backward) filed a foreclosure action against me in Feb of 2004. After 36 months of litigation, we finally reached a settlement agreement in Feb. of 2007. As part of the agreement, Ocwen was supposed to remove all negative reporting from the credit bureaus.As of August,2007, they have failed to comply even though a Judge ordered them to do so on July 30, 2007.Their modus operendi is to target borrowers who have lots of equity in their properties. Then they will back date the start date to pay, for example in my case from May 1, 2002 to March 1, 2002 (thus putting the person two months in arrears from the get go). Next they will claim not to have received a payment (ie in my case the Nov. 2003 payment).Luckily for me, I saved all my paperwork and my cancelled checks, so I was able to prove to their third attorney that they were wrong. Their first attorney realized they were wrong back in 2004 and wanted to settle so they got rid of him and found another shister to try and save their case. Luckily for me, she blatently forged a stipulation and was detected by the Judge. She was removed and faces charges. At this point, their third attorney realized it was time to settle since they had no case.Ocwen took revenge by failing to clean up my credit and is thus preventing me from refinancing. Truly, this is a criminal organization and needs to be put out of business permanently. They already had to give up their Federal Charter in 2005 because of the heat. They can not survive with their colections of nickels and dimes so their profit center is bogus foreclosures.MichaelTampa, FloridaU.S.A

Banking Cartel Insider Predatory Lending Insider Foreclosure and Mortgage Serving Fraud Part 1, A Study on Ocwen Federal Bank

From: http://www.financialsense.com/editorials/reality/Ocwen/1107.html


Bank by Gale Bullock
November 7, 2004
It is about the manipulation of the property, it's about the financing fraud, and about manipulating the cash flow from occupants of the property – owners, who to Ocwen are merely the present "victims in residence" to be mined for their cash and then kicked out so that the "property" can be recycled for more of the same games – not the sale of the property, but rather the manipulation of it! The sale will cut short the game – so the game is endless by design. Simply stated: It's pure undiluted calculated fraud. Everybody in the game gets ripped except the principals.
– participant in Kweku Hanson’s Class Action Lawsuit against Ocwen Federal Bank
"Complacency is no reward!” – Chevalier Harry Schultz
Just when you think you have most of the mortgage fraud and appraisal fraud figgered out, have written essays on this stuff, have file dossiers on several appraisers in the Central Missouri Region, and you are just waiting to squeeze the triggerfinger to the Missouri Real Estate Appraisers Commission in Jefferson City, you stumble across another Demon in the Reality of Realty con game – another tentacle [and a very big network, Black Market Economy Mafioso Network] in the Financial Rape of the American Public on Main Street America – using real estate for wealth extraction to the Monied Interests on Wall Street.
It is bad enough being financially raped by the Federal Reserve and the likes of Bernanke, McTeer, and Greenspan stealing our wealth – that Fatal Parasite on the American Body Politic! [1] I thought money market fund intermediation was about as bad as it got with the free source Wall Street money to pump to the GSEs [2], and the likes of the Fannie Mae fudge in their derivatives portfolio[3], but these scams absolutely take the cake.
It wasn’t until I performed a foreclosure REO appraisal for Ocwen Realty Advisors, or ORA, that I realized this company was not transparent. Researching the bank holding company, I found that it was not transparent either. Then I met one of the plaintiffs in Kweku Hanson’s Connecticut Class Action suit against Ocwen. I started digging into the Mafioso World of insider predatory lending [4] and mortgage servicing fraud [5] – fast becoming a wealth transfer mechanism [6] much like the Savings and Loan Scam [7] and the BCCI Scam. [8] With all the rhetoric about a real estate bubble, much like the BCCI and Savings and Loan Scams, the real estate markets have already been imploding over the past 10 years in one of the most secretive wealth transfers to Wall Street one could ever imagine – in much the same hush hush as the great wealth transfer in the BCCI and S&L scandal, well outside the news media. Financial rape and wealth transfer to Wall Street’s banking cartel is happening right under or noses. [9]
Laying Down the Basics, Connecting the Dots for You!
What is mortgage servicing fraud? It is simple. It is jerking the mortgagee around on loan payments, insurance, escrow, false credit history reporting on the status of his mortgage payment history, and a myriad of other insider gimmicks, threats, and cognitive dissonance to force the property into foreclosure so the Fat Cat bank holding company can foreclose on the property, buying back the property for the note balance, or less at the actual foreclosure sale. The owner’s equity has already been sucked out of the property in the scam. But, there is the rub! Does the actual foreclosure sale end the game of profits for the insiders? Nope. The foreclosing lender’s liquidation of the property at disposition of the asset ends the con game! Where is the profit?
When the Fat Cat bank holding company sells the property and another lender is on the hook at a higher mortgage than what they foreclosed on, this ends the scam. This is over-simplified, of course, but any Jane and Joe Six-Pack on Main Street America can understand this simple explanation of the economic! Who’s the main target? You – if you have a good credit score, and a lot of equity in the property. If you have a 125% to 150% home-equity loan you should feel really safe. Huh! Usually the owner’s equity is in the 10% to 15% or greater range. When the equity gets below 10% that’s when the pressure builds. Where is the profit to the insiders? Think about it! The actual foreclosure re-sale by the lender ends the game. Profit is made on inside fees, kickbacks, bonuses, perks, and management fees managing the foreclosed property. The borrower’s equity is already sucked out by overcharges, fees, surcharges, late fees, and any other fee the mortgage servicer can come up with, as they intimidate the borrower into submission with high powered legal eagles and attorney-ease, and an extortion of cognitive dissonances – [do a Google.com search on cognitive dissonance!].
We note that Ocwen Realty Advisors [Ocwen Federal Bank] now has the VA contract to manage all VA foreclosure properties. [10] They are going to make a pot load of money, at the taxpayers’ expense with their lack of transparency.
If the rest of the tree falls, it WILL land on the garage…
The Big VA Contract, or Hands in the Taxpayers’ Pockets?
I used to do residential appraisals for both FHA and the VA, but in the game of credit scoring and playing to Wall Street, they both fouled their own nests going to electronic appraisals, demanding this and that, always changing the rules. FHA turned real estate appraisers into home inspectors, so I told them to take a hike. The VA became equally squirrelly, and not reliable as clients, so several years ago, I told the VA to go take a hike. VA used to handle their own foreclosures. I knew their old process. It wasn’t until a little over a year ago that I first heard the name Ocwen. I sometimes handle another Realtor’s shop when she’s out of town. She was working on submitting an offer on a VA foreclosure property and she had to fax something to Ocwen to keep the deal going. Everything had to go through Ocwen to buy the property. I thought that stranger than a monkey with a banana up its you know what.
Nah, this ain’t overgrown landscaping…Them there’s good ole Missouri Hip High Weeds, Ole Buddy!
I just recently appraised a VA foreclosure property for Ocwen Realty Advisors. I don’t send appraisals over the email as pdf files to anyone. The reason is simple. Electronic appraisals can be unlocked, manipulated, changed, digital signatures and appraisal seals stolen, and the comparable sales data that I pay for through MLS or collect on my own is stolen for someone’s big comp sale database, ripping me off – putting me out of business. If my digital credentials are stolen or reused, my identity is stolen, and I have been professionally raped. I am not the only hold out in the industry. ORA was sent a full hard copy of the report to West Palm Beach, Florida. They refused the hard copy report unless I sent it to them as a pdf file. About 25 days after they had received the hard copy of the report, they sent me an email canceling the report, telling me they refused to pay me. This is very transparently unethical business practice and manipulation of the realty valuation industry at the hands of the banking cartel.
Yeah, that there’s black mold [genus species unknown]and the basement’s full of water…
They also have taken ORA off-shore to Banglapore, India. Not only is there no transparency in the Florida version of ORA, there is no transparency between West Palm Beach and Banglapore! That’s another story, however. In preparing a letter to the company, while I was waiting for them to call me back about my fee, refusing to pay me, and canceling the order [Ha, Ha, Ha!], I started researching the total operation as the bank holding company. What I found was a lack of transparency in Ocwen Federal Bank, as well. This week I also checked with my out of town Realtor buddy on the VA foreclosure property I appraised. He had done a BPO [broker’s price opinion, hadn’t been paid yet, either!] on the property as well. Nothing has been done to the VA foreclosure property. It’s still sitting there with hip high weeds and a dead tree in the front yard. Good Lord, help the American Taxpayers!
Going to the Head of the Class Action Suit!
Gee Whiz, I love waxing my surfboard and hopping on a big one at Google! I nearly did a crash and burn when I found www.ocwenfederalsucks.org. This wave was so big, I lost my swimmin' trunks as I nose dived off the surfboard! What a Face Plant! Hopping another wave, I stumbled across Kweku Hanson, a Connecticut Yankee and the Mother Bear of classic action suitwise. [11] Since surfing is not that much of a daunting task at all [Sorry, Big Al, Gotcha on that one!], I hopped out to California on another big wave, and dang it, I fell off my nicely waxed surfboard again with this classic action by some other smart legal eagles. [12] My suspicions about the Ocwen group not being transparent were confirmed. There are a lot of folks that don’t have very good things to say about this multi-national bank holding company and its book of business. [13]
Conclusion, Part 1 – Demons and Double Demons from Hell
Insider predatory lending and insider mortgage servicing fraud more or less go hand in hand. You can have one without the other played on you as a consumer, or you can have the double whammy of being double-teamed [Double Demons] in the con game. Big Government and Wall Street are also part of the game [con], since they create banking laws, which are overtly and clandestinely designed to be overly complex. Few folks understand money and banking and how our money is created by the Federal Reserve out of thin air. A small segment of the population as consumers are finding out the hard way about the banking cartel’s insider tricks in the insider predatory mortgage lending and servicing arena, however. It will probably take a complete collapse of the legal tender fiat paper funnie monie system, however, for folks to wake up and realize [smell the coffee] they were conned all the way from the fetus to the grave. Ocwen? I am still waiting for them to pay me for my professional services. Speaking of Hell, Hell will probably Freeze Over First! Stay tuned.
The Stars and Bars - Mississippi Delta Born and Raised!
Gale Bullock [Ole Bear Editor] – just another ornery Ole Confederate!Columbia, Missouri usa [united states in America]
Footnotes [some are repeated to smack the reader between the eyes]:
[1] The Federal Reserve System: A Fatal Parasite on the American Body Politic, Dr. Edwin Vieira, Jr. See Link.
[2] Bad Boys with the Pen and Money Market Fund Intermediation, counter-measures and risk analysis to vote with your money, or Colt .45 to the rescue?, Ole Bear MAI [aka, Gale Bullock]. See Link.
[3] The Trojan Horse? Fannie Mae as the National Soap Opera, co-authored by Rob Kirby and Gale Bullock. See Link.
[4] Recognizing Predatory Lenders, www.bankrate.com. See Link.
[5] Introduction to the Loan Servicing Scam, www.msfraud.org. See Link.
[6] See: Perfect Credit Score, Perfect Loan Fraud, Kenneth R. Harney, Washington Post. See: Mortgage Servicer Ocwen’s Practices Raise Ire, Jeff Ostrowski, Palm Beach Post Staff Writer
[7] Introduction, The Mafia, CIA and George Bush, Peter Brewton. See Link. See Also: Link.
[8] The BCCI Affair, www.mediawa.info. See Link. See Also: Financial Scandals, Linda Davies. See Link.
[9] Statement, Chris Swecker, Assistant Director, Criminal Investigation Division, FBI before the House Financial Services Subcommittee on Housing and Community Opportunity, October 7, 2004. [pdf version]. See Link for FBI html Internet version.See Also: Document Trove, HernanMedia.com, Patrick Hernan. See Link.See Also: HernanMedia.com, Real Estate and Fraud Blog. See Link.See Also: HernanMedia.com, Mortgage Fraud & Predatory Lending Clearinghouse. See Link.See Also: Perfect Credit Score, Perfect Loan Fraud, Kenneth R. Harney, Washington Post.
[10] Veterans Benefits Administration Circular 26-03-8, December 8, 2003. Html Link. Microsoft Word Doc Link. VA Website Version
[11] Kweku Hanson, Attorney, Class Action Lawsuit filed July 15, 2002 in US District Court, District of Connecticut, pages 1, 120-123 of the total 123 page legal brief, court case now move to the Chicago, Illinois District. Read pages 1, then skip to 120-123. Then read the middle when you have time.
[12] Lieff, Cabrasher, Heiman, & Bernstein, LLP’s Ocwen Federal Bank Consumer Protection Class Action Lawsuit filed in the California Alameda County Superior Court, October 2003.
[13] Ocwen Federal Bank keeps popping up everywhere I surf on the Internet!
See: http://www.msfraud.org/See: http://www.msfraud.org/artic2.htmlSee: http://www.msfraud.org/Articles/Ocwen.htmSee: http://www.poconorecord.com/topstory/tjd79196.htmSee: http://www.ocwenfederalsucks.org/100704cs.pdfSee: RipOffReport Link
Additional Links to Follow the Money Trail for this Essay Series:
Chris SandersWhere is the Collateral?So, Where is the Collateral?Dial “M” for MoneyFascinating and lucrative patriotism, the negative return economy:a discourse on America's Black Budget – Chris Sanders & Lady Catherine Austin Fitts
Lady Catherine Austin FittsMel, Where is the $59 Billion - Part 1Mel, Where is the $59 Billion - Part 2Mel, Where is the $59 Billion - Part 3An open letter to Condoleezza RiceWhere would Jesus bank?
The Myth of the Rule of Law or How the Money Works: The Destruction of Hamilton Securities
HUD Martinez Hotseat
Fannie Mae Sporkin Hotseat
Gale Bullock, MAI, SRPA, SRAThe Toy Boys of Fraud and as originally featured on ScoopNZRealty Reality on FSOThe Blacklisting of the Realty Valuation ProfessionalBad Boys with the Pen and Money Market Fund Intermediation
Blitzkrieg Series Essay #5 – Ponzi and Electricity
Rob Kirby and Gale BullockThe Trojan Horse? Fannie Mae as the National Soap OperaFalling on Your Royal Fannie: A Fist Full of Royal Bank of Scotland Fannie Facts
Larry S. LevyThe Fraud of Appraisal Regulation
Thomas G. Fryer, SRAAVMs – A Cause for Alarm, and Thus For Resistance [pdf]
The Bear CubMortgage Mayhem – An Insider’s View of “Blitzkrieg Lending” [pdf]
© 2004 Gale Bullock

Texas jury rules against Ocwen for $11.5 million

From: http://southflorida.bizjournals.com/southflorida/stories/2005/11/28/daily20.html

Wednesday, November 30, 2005
A jury in Galveston, Texas, has awarded $11.5 million to a customer of Ocwen Financial Corp. and its former Ocwen Federal Bank subsidiary, after determining they committed fraud in servicing her home equity loan.
The verdict against West Palm Beach-based Ocwen Financial (NYSE: OCN) and Ocwen Federal was issued Tuesday in Texas's 212th District Court. The jury ordered the Ocwen companies to pay Sealy Davis $10 million in actual damages and about $1.5 million for mental anguish and economic damages.
Ocwen Financial had $1.3 billion in assets on Sept. 30, according to its Securities and Exchange Commission filings.
The jury found the Ocwen companies made fraudulent, deceptive and misleading representations to Davis after she missed a loan payment while hospitalized in 2003.
Documents filed in the civil suit assert Ocwen began demanding additional money to make up for the missed payment and then began foreclosure proceedings on Davis's home in Texas City, Texas.
Davis retained the home after filing for Chapter 13 bankruptcy protection, court documents state.
Davis, in 2002, got a $31,000 home equity loan from Aames Home Loan with Deutsche Bank as trustee. Ocwen Federal Bank serviced the loan, including collecting payments.
The jury determined Ocwen contributed 100 percent to a wrongful foreclosure and none of that activity was attributable to the other defendants, Deutsche Bank, its law firm Baxter & Schwartz and several attorneys with that firm.
William Erbey, Ocwen's chairman and chief executive officer, and Kelly Herzik, a Wichita, Kan.-based attorney who represented Ocwen, did not return phone calls.
The Business Journal's questions included whether Ocwen might appeal the verdict to a Texas court of appeals.

Ocwen Loan Servicing - Lender & Servicer

From: http://ml-implode.com/ailing/lender_OcwenLoanServicing_2007-03-05.html

2007-03-05
A reader sends in this report on a former bank and now only loan servicer & lender, which seems to have been largely predicated on fraud:


OCWEN LOAN SERVICING Orlando, FL 1-800-746-2936
Services loans for the former Aames Home Loan dba Aames Funding Corp. They used to be a bank, OCWEN FEDERAL, until they ran afoul of the OCC. Now they're just one of the worst predatory loan servicers and lenders. Here's a sampling of the litigation they're currently facing:
Borrower Class Action Lawsuits: Over 500 separate class action lawsuits have been combined into one jumbo class to be heard in the Northern District of Illinois. Former employees testifying about how OCWEN intentionally defrauds borrowers -- it's built in to their software which was designed by this IT guy who is blowing the whistle.
Employee Lawsuit(s): Settling in favor of the Plaintiffs
Investor and Supplier/Vendor Lawsuit(s): Just getting started
U.S. Federal Government Lawsuit(s): According to OCWEN's SEC filing, they are being sued by the U.S. in the amount of $700 million +. Suits arose after one of their subsidiaries filed for bankruptcy protection in the District of Delaware Bankruptcy Court for that amount - $700 million in debt. Here's the part the Feds and the investors are upset about: This subsidiary transferred ASSETS to OCWEN just before filing on their liabilities. That's called a fraudulent conveyance.
Other Lawsuits: Everyone's suing them.
According to the SEC and OCWEN's own report, their net worth is $325 million--oops not enough to satisfy the Feds and investors. Borrowers who were defrauded and wrongfully foreclosed are at the bottom of this 'crumby' food chain.
According to Moody's Rating Service, they've decided not to rate OCWEN's stock--this after downgrading it. The $325 million may be a negative $325 million by this time.
SOURCES
My online sources included the public records found at Moody's, the SEC, Delaware District Bankruptcy Court, George Miller, Trustee, and The Rip-Off Report and others.
Looks pretty bad.

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 - No Stars

I spent an hour on the phone with some guy who barely could speak English and he was way rude. I pay more on my loan than required each month and Ocwen decided that this was not the agreement and sent my entire payment to principal only charged me a late fee (when I clearly paid on time if not early) and reported my loan late for the month. Took me having to stop being cordial on the phone to screaming before someone could address the problem and that took another hour. They are very abrasive and fee averse. I am so looking to refinance with another company and the first question is going to be where is your customer service center located. I never asked for them as it seems they bought loans from another company. I hate that. This is the worst company ever.

Ocwen A Rip Off

Ocwen is really a big rip off. I received notice fro GMAC that my homeowner loan was being sold. In the letter they stated I would be notified by the new company, and the way I have my mortgage set up nothing would change. When I come home from work I would have a message on my answer Machine call this 800 number with my account number, not saying who they were or what, this was happening 2 to 3 times a week. I don’t feel it is right that a company would call you, and not leave a name when something like this is a persons life investment.
Ocwen wiped out my bank account, I had mailed them a check & they stated they did not receive it, and demanded I give a check over the phone, unless there would be interest added. I gave them a check over phone, and on August 13 2007 both hit my bank account, Ocwen took every I came up short $250.00 on the payment. Lucky me I put a stop payment on the check I had mailed them, so they had to put the money back into my account.
After that customer service really didn’t listen, It is this and nothing else. And then have the nerve to ask if there is anything else they can do for you. Ocwen called my home 2 to 4 times a week leaving messages, I would get invoice from them 2 times a week, one invoice would say my mortgage is current, the next invoice the same week would show one month behind. I would call them and they would say disregard, then here comes another invoice stated delinquent. YOU ARE RIGHT YOU CANT UNDERSTAND THEM TALKING ON PHONE, CUSTOMER SERVICE REFUSE LETTING ME SPEAK WITH SUPERVISOR OR HIGHER UP. I Can't Give Them 1 Star I cannot even give Ocwen 1 star. Right now I am in bankruptcy due to their failure to post my payments on time and other “things” that happened. I too went into a forebearance agreement with Ocwen only after attempting to refinance my loan with them, of course, to no avail. They then tacked on $600.00 to my payment and then said they did not receive my payments. I was forced to file bankruptcy in order to keep my home and then after my rate adjusted to 9.9% from 6.9% (you do the math), they are trying to tack on an additional $600 to my new rate of $3400 bringing my total note to $3,950 roughly. I did not ask them to do this, I pay my own insurance and taxes and they are double paying. I do not plan to send them a cent over what I owe them. They are horrible people and nothing against Indians but their command of the English language is poor!! I hope Ocwen goes belly up soon and shuts their doors and the doors in India. Do not use this company!!!!!

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 I Think Their Specialty is Fraud

A few yeaers back, Ocwen bought out my loan and told me my new account information. I sent the first paymeht but was then charged a late fee because my account was never set up correctly. I tried to reach them buy phone which is almost impossible and they accused me of not sending the payment in, even though they had deposited my check and never credited my account. 2 months went by and they still had not done anything.
They ended up sending me late fees and threats to my credit report if I didn't pay on time. This is AFTER I had sent them statements from my bank PROVING that they had withdrawn funds from my account. I'm not even sure if they're buying out people's loans anymore or what their doing. I know there was a class action lawsuit against them which doesn't surprise me in the least. If you're loan is bought out by Ocwen, FIND A NEW LENDER IMMEDIATELY!

Thanks to Ocwen American Dream becomes a Nightmare

I know same old story single Mom, struggling (not very well) to make ends meet. I know I got myself in this mess..HUD sold OCWEN my note, over 10 years I would scrape up, begg and borrowed the +$7,000 a pop (3 times) to keep a roof over my childs head when confronted with 'foreclosere in 30 days' When I got behind.When OCWEN advised me that the other 3 'forbearance' plans were not designed to catch me up, but this new one would, my payment went from 780 (already a burden) to over 1200/mo. I signed the forbearance plan to give me some time. I gave up trying to save my house I walked away.My balance was less than 60,000 w/over 5,000 in foreclosure fees tacked on. This $5,000 was for the most recent proceedings. They would never give me itemized list from previous 3 foreclosure threats. But I finally got a detail of the 'fees' on the latest fiasco. I requested copies of all the reports I was paying for eg 'title serach' 'appraisals' 'copies of filings' I never recieved a response.When I gave up the house (not my fight with OCWEN), I walked away, put the house on the market (they could have it or it would sell)and I did not make another payment, I used the house as a storage space. The Irony of it all. Not one foreclosure notice, not even a late notice, just a monthly statement.Heads Up. It took me a year to sell. I lost 3 buyers in 12 months because OCWEN's failure to respond to inquiries from my agent or the potential buyer's representative. We tried to do a short sell and OCWEN went up on original buyout quote. This part of the journey is over, I have taken a break since the house sold in September, but I am back it the fight.