OCWEN Federal Bank Financial Services OCWEN = O.rganized C.rime W.ith E.xtreme N.egligenceOCWEN OCWEN Bank Financial Services !!!! My home was sold while I was out of town ,15 calendar daysafter paying almost $17k
I am still not exactly sure what our monthly payment was due to a constant fluctuation blamed on some BS, according to the confusing statements sent by OCWEN (sometimes we would get 4 conflicting statements a month) saying that our payment was not received on time or it was not the correct payment amount, which amazes me because we generally paid via telephone (average hold time 109 minutes)and were never told of a change in the amount of our payment by the verbal response programmed customer service reps that OCWEN directs calls to in India. (thats a whole other complaint). OCWEN advises of a non-sufficient payment made that usually was not credited for up to a week after an EFT (electronic funds transfer) from our bank to theirs so there should no processing fee or time involved but we were usually charged an exorbitant late penalty plus interest on top of that. Our home was in foreclosure in March 2008 (our payments were over 4800.00mo) and we were offered a 'Loan Modification Agreement' to prevent the auction of our home in a few days. They offered to put all past due payments on the back of the loan and lower our payment to $3408.64 mo and our interest rate would drop to 7.75 for 30 years fixed, provided we made the initial down payment of $9102.00 and the 2 following monthly payments on time. The agreement was never received via mail and when we did not receive it by mail we called OCWEN and were offered a fax copy of the 'Loan Modification Agreement' which we received by fax on March 10th and was dated March 6th 2008 it stated the offer was good until March 10th 2008.We called and advised there was no way we would be able to get the $9102.00 out that day, it was nearly end of the day. On March 11th we received another faxed copy of the 'Loan Modification Agreement' still dated March 6th and still expiring on March 10th 2008 but were assured by OCWEN that was their offer and it was still valid and they would not send an updated copy but there was a change showing our payment would be $3808.64($400.00 more!) and if we didn't want our home auctioned we had to send the $9102.00 via Western Union or wire transfer by the next day and return the signed 'Loan Modification Agreement' as it was and they would let us know if they accepted it or not. The deed of trust sale of our home took place on March 18th 2008 just 6 calendar days after OCWEN took our $9102.00(?) We were never notified of the transfer of title and the sale was rescinded and the transfer of title was voided. (one hand didn't know what the other hand was doing) The 'Loan Modification Agreement' had been accepted and our 'probationary' period included making our May 1st and June 1st payments on time. The payment due on May 1st was made by telephone on April 15th and the payment due on June 1st was made on May 23 2008. We received a statement from OCWEN in June stating that the rate index had changed and the payment made for June 1st was a deficient payment amount which we were not aware of until it was too late. We left on July 3rd and did not return back home until about 12noon on July 22nd at which time I was greeted with about 10 letters by mail from Aztec Foreclosure Service and OCWEN stating that on July 7th the Notice of Deed of Trust Sale was to take place on July 22nd (this is when the intent to sell was recorded at the County Recorder) I called OCWEN immediately and ended up in India!!! after explaining what the situation was and being transferred to the voice mail of a supervisor I continued to call back and insist upon speaking to someone higher up... only to be advised that 'there is nothing we can do to stop the sale'!!! (there were no bidders at the sale of my property) OCWEN had an offer from a 3rd party of $100,000.00 less that what was still owed by us on the home. What they basically did was a short sale. (which they no longer allow the homeowner or their realtor to do any longer) on July 23rd right before 6:00pm a realtor came to my residence and approached my 16 year old son with an offer of $1000.00 if we would be out in 1 week!!!! I had just run to the bank and was not there. On July 24th another realtor rang the bell and said he had been hired by OCWEN to sell the property and that it had not sold at auction, (?) about 10 minutes later there was a 3 day quit notice stuck in the front screen door. On August 6th 'Unlawful detainer' papers were served to my neighbor which required that an 'answer' within 5 days from the date of filing, at that point it was already 6 days past the date it was filed on July 29th. We had to go to the courthouse and file an 'answer to Unlawful Detainer' on August 7th. then on August 14th my nephew received papers for a motion to grant for the plantiff and we had to appear before the court on August 19th.!! 5 calendar days !! WOW !! and August 19th is today and I have been trying to figure out what to do and what is even expected of me in court today and I am a single mother with 3 sons 16, 8 and 6. I cannot afford to pay an attorney to fight this and I think that is what OCWEN is counting on. I am not the only VICITM of OCWEN!!!! I have read numerous stories almost exactly like mne and I feel like since I don't have the financial resources to fight OCWEN I basically am screwed !! I have lived in this house since 2001 and have been making payments on it for 7 years only to give OCWEN more money to be fraudulently led to believe that our home was safe!! THERE ARE CLASS ACTION LAWSUIT IN LITIGATION IN CONNECTICUT AND N. ILLINOIS AND MORE ARE FORMING IN CALIFORNIA THAT I AM AWARE OF!!! Something has to be done to stop OCWEN from RIPPING OFF DECENT PEOPLE THAT ARE JUST TRYING TO MAKE IT BUT DO NOT HAVE A CHANCE IF OCWEN IS INVOLVED!! (sorry for the rambling)
CynOrange, CaliforniaU.S.A.
from: http://www.ripoffreport.com/reports/0/364/RipOff0364432.htm
Showing posts with label class action lawsuit. Show all posts
Showing posts with label class action lawsuit. Show all posts
Wednesday, August 20, 2008
Wednesday, July 23, 2008
OCWEN LOAN SERVICING Ocwen Blatantly Lying To Decieve Customer
Update: I inquired about a Loan Mod with Ocwen back in April 2008 and submitted my paperwork (via certified mail) on April 25th.....I was told it would take 15 days to process. After countless phone calls to their 'Customer Service Number' which is in India I finally received the Modification Agreement @ 5pm Friday, June 20th. The agreement stated I had till June 25th. to sign and send back with my down payment. I noticed right away there was some very vague language in the agreement. The first item was in the cover letter and states:
NEW MONTHLY PAYMENT: $2,542.59(which may or may not include escrow)
Second item was in paragraph 3 which states:
'Any payments due for taxes or insurance will be your responsibility in addition to the payments of principal and interest required under the terms of this modification.'
I called OCWEN to go over the agreement and asked if my taxes & insurance were included in the monthly payment. Anthony in Bombay assured me the taxes & insurance were in fact included in the payment. Great!! I told him that there was an error in the cover letter and in paragraph #3 that stated that they were not included and asked him to please correct the error. The answer I got was astounding. Anthony informed me that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED. I asked him why he was telling me one thing on the phone but the agreement clearly states otherwise. Anthony informed me (in a very threating manor) that if I did not sign the agreement 'as is' that OCWEN would put my home in foreclosure. Which they ended up doing 2 days later.
The next item I inquired about was paragraph 9c that states:
'Any expenses incurred in connection with the servicing of your loan, but not yet charged to your account as of the date of this Agreement, may be charged to your account after the date of this Agreement.'
I asked Anthony what 'Any Expenses' were and he informed me that was 'legal fees and stuff'. I told him I thought that term was very vague and asked if he could be more specific. This inquiry seemed to irritate him emencely. Again I was informed that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED....along with the standard threat of foreclosure.
I feel I'm being forced to sign a misleading agreement that does not reflect what I'm being told on the phone. Aside from hiring an attorney (which I can not afford) what can I do??
WTF?
Los Angeles, CaliforniaU.S.A
From:http://www.ripoffreport.com/reports/0/349/RipOff0349469.htm
NEW MONTHLY PAYMENT: $2,542.59(which may or may not include escrow)
Second item was in paragraph 3 which states:
'Any payments due for taxes or insurance will be your responsibility in addition to the payments of principal and interest required under the terms of this modification.'
I called OCWEN to go over the agreement and asked if my taxes & insurance were included in the monthly payment. Anthony in Bombay assured me the taxes & insurance were in fact included in the payment. Great!! I told him that there was an error in the cover letter and in paragraph #3 that stated that they were not included and asked him to please correct the error. The answer I got was astounding. Anthony informed me that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED. I asked him why he was telling me one thing on the phone but the agreement clearly states otherwise. Anthony informed me (in a very threating manor) that if I did not sign the agreement 'as is' that OCWEN would put my home in foreclosure. Which they ended up doing 2 days later.
The next item I inquired about was paragraph 9c that states:
'Any expenses incurred in connection with the servicing of your loan, but not yet charged to your account as of the date of this Agreement, may be charged to your account after the date of this Agreement.'
I asked Anthony what 'Any Expenses' were and he informed me that was 'legal fees and stuff'. I told him I thought that term was very vague and asked if he could be more specific. This inquiry seemed to irritate him emencely. Again I was informed that this was their standard agreement that had been approved by the legal department and COULD NOT BE CHANGED....along with the standard threat of foreclosure.
I feel I'm being forced to sign a misleading agreement that does not reflect what I'm being told on the phone. Aside from hiring an attorney (which I can not afford) what can I do??
WTF?
Los Angeles, CaliforniaU.S.A
From:http://www.ripoffreport.com/reports/0/349/RipOff0349469.htm
Tuesday, January 29, 2008
Ocwen IS A MONSTER WE NEED TO FILE SUITS NOW TO PUT THEM OUT OF BUSINESS! Orlando Florida
From: http://www.ripoffreport.com/reports/0/303/RipOff0303985.htm
Folks, look at what this company is doing. Horror story after horror story! It is time we banded together somehow and filed a class action suit against these clowns. Especially now, during this political year where 'subprime, predatory lending' is part of the political hot-topics. Especially now, since the subprime crisis in this country has finally opened the ears of legislatures.
For YEARS, Ocwen has been destroying people's lives. It is part of their business plan. Look, right here, on this website alone, we have over 1300 horror stories. What percentage of Ocwen's total customer base do you think that comprises? And what about the thousands of individuals who have been ruined but who haven't come to this site.
I am willing to join ANY legal action against Ocwen. ANYthing!!
They attacked me about 5 years ago. I had refinanced my home in April. Two months later, the lending institution sold the loan to Ocwen. And immediately, the nightmare began. False reporting, service reps living in India taking my calls...and hanging up on me as a regular protocol. I paid on the first of every month beginning the very month Ocwen notified me that they were the new servicers of my loan. 6 months later, it was brought to may attention that they had been reporting the loan deliquent 90 days EVERY MONTH SINCE THEY TOOK IT OVER!! My credit went from 700-someting to the mid-500's. My house started getting threatened with foreclosure!
One day, one of the reps from India called me up at 5 pm and said, 'If you don't pay $8000 by tonight, we are going to foreclose on you.' I panicked! It was too late to go to the bank, but I figured I could do it the next day. He said 'No.' As I was trying to explain the TIME DIFFERENCE to him, he hung up. I called back all night long..and he or other reps kept hanging up on me.
The next day, in an absolute panic, I went to the bank, got $8000, and sent it to them in a Moneygram (the only type of payment they will accept when you're 'delinquent,' by the way).
The nightmare continued long long long after that. For two full years! I finally got a company who understood Ocwen's tactics to refinance me the hell out of there!
But their service and the trauma they put me through I have never forgot.
If there is a lawsuit out there, I will join! I will START one if a lawyer contacts me.
Ocwen needs to be put out of business! They need to be made Public Enemy #1 and ridiculed on the front of every magazine.
Look what a group of New York Legislatures did to Signature Compounding Pharmacy. When the Steroid scare in the major leagues became a household buzzword, these legislatures went into Florida and all but burned Signature to the ground. They have the power to do so. We need to get them doing that to Ocwen. This company has to be made an example of, an example that says, 'THIS IS AMERICA! And the minute it becomes your business practice to harass and terrorize our citizens, your business is going to be hammered into complete non-existence.
I am in! Just lead me in the right direction.
ThomasSaginaw, MichiganU.S.A.
Folks, look at what this company is doing. Horror story after horror story! It is time we banded together somehow and filed a class action suit against these clowns. Especially now, during this political year where 'subprime, predatory lending' is part of the political hot-topics. Especially now, since the subprime crisis in this country has finally opened the ears of legislatures.
For YEARS, Ocwen has been destroying people's lives. It is part of their business plan. Look, right here, on this website alone, we have over 1300 horror stories. What percentage of Ocwen's total customer base do you think that comprises? And what about the thousands of individuals who have been ruined but who haven't come to this site.
I am willing to join ANY legal action against Ocwen. ANYthing!!
They attacked me about 5 years ago. I had refinanced my home in April. Two months later, the lending institution sold the loan to Ocwen. And immediately, the nightmare began. False reporting, service reps living in India taking my calls...and hanging up on me as a regular protocol. I paid on the first of every month beginning the very month Ocwen notified me that they were the new servicers of my loan. 6 months later, it was brought to may attention that they had been reporting the loan deliquent 90 days EVERY MONTH SINCE THEY TOOK IT OVER!! My credit went from 700-someting to the mid-500's. My house started getting threatened with foreclosure!
One day, one of the reps from India called me up at 5 pm and said, 'If you don't pay $8000 by tonight, we are going to foreclose on you.' I panicked! It was too late to go to the bank, but I figured I could do it the next day. He said 'No.' As I was trying to explain the TIME DIFFERENCE to him, he hung up. I called back all night long..and he or other reps kept hanging up on me.
The next day, in an absolute panic, I went to the bank, got $8000, and sent it to them in a Moneygram (the only type of payment they will accept when you're 'delinquent,' by the way).
The nightmare continued long long long after that. For two full years! I finally got a company who understood Ocwen's tactics to refinance me the hell out of there!
But their service and the trauma they put me through I have never forgot.
If there is a lawsuit out there, I will join! I will START one if a lawyer contacts me.
Ocwen needs to be put out of business! They need to be made Public Enemy #1 and ridiculed on the front of every magazine.
Look what a group of New York Legislatures did to Signature Compounding Pharmacy. When the Steroid scare in the major leagues became a household buzzword, these legislatures went into Florida and all but burned Signature to the ground. They have the power to do so. We need to get them doing that to Ocwen. This company has to be made an example of, an example that says, 'THIS IS AMERICA! And the minute it becomes your business practice to harass and terrorize our citizens, your business is going to be hammered into complete non-existence.
I am in! Just lead me in the right direction.
ThomasSaginaw, MichiganU.S.A.
Tuesday, January 22, 2008
Ocwen help ocwen is ruthless Orlando Florida
From: http://www.ripoffreport.com/reports/0/301/RipOff0301624.htm
Started in march of 2007 payment we made was reported late when in fact ocwen posted to another acc. took ten calls and over 40 hours to reach them ocwen fixed it but still posted on our credit that the payment was late. In the months of November and December of '07 we were behind in our payments due to medical reasons this being our first time ever to be late. OCWEN sent a notice of default the 24th of December saying I had to pay the past due amount 1085.06 by January 17, 08 Dec 28, 07 received a letter stating a interest rate freeze if I sent 1110.58 by December 31, 07 which I did by overnight mail. I was all current as I thought when I received a letter January 7, 08 stating ocwen did not received in it there within a specified time frame but they cashed the check and posted it December 31, 07 OCWEN said they were going to send the signed agreement with the check back to me which they have not nor posted to the acc correctly. I was sent four different acct statements with different amounts to pay. I finally got though to them and Ocwen stated they receive nothing and told me that January payment would go to fees that we owed but would not tell me how much. There is much more to the story but I am now trying to work with our fair housing to get results.I would love to be involved in a class action lawsuitRecardotoledo, OhioU.S.A.
Started in march of 2007 payment we made was reported late when in fact ocwen posted to another acc. took ten calls and over 40 hours to reach them ocwen fixed it but still posted on our credit that the payment was late. In the months of November and December of '07 we were behind in our payments due to medical reasons this being our first time ever to be late. OCWEN sent a notice of default the 24th of December saying I had to pay the past due amount 1085.06 by January 17, 08 Dec 28, 07 received a letter stating a interest rate freeze if I sent 1110.58 by December 31, 07 which I did by overnight mail. I was all current as I thought when I received a letter January 7, 08 stating ocwen did not received in it there within a specified time frame but they cashed the check and posted it December 31, 07 OCWEN said they were going to send the signed agreement with the check back to me which they have not nor posted to the acc correctly. I was sent four different acct statements with different amounts to pay. I finally got though to them and Ocwen stated they receive nothing and told me that January payment would go to fees that we owed but would not tell me how much. There is much more to the story but I am now trying to work with our fair housing to get results.I would love to be involved in a class action lawsuitRecardotoledo, OhioU.S.A.
Monday, January 21, 2008
Ocwen, Allegations of Fraud, Malice, Misrepresentation and Manipulation.
From:http://www.msfraud.org/Articles/The%20Ocwen%20Story.htm
Voice of the People
Ocwen, Allegations of Fraud, Malice, Misrepresentation and Manipulation. Ocwen Financial Corporation ("Ocwen") is a vertically integrated multi-billion dollar, publicly traded (NYSE: OCN) financial services holding company, engaged in a variety of businesses related to mortgage servicing, real estate asset management, asset recovery and technology. Headquartered in West Palm Beach, Florida,Within a 12 month period this company has lost two major lawsuits alleging fraud, malice, misrepresentation and manipulation totaling $14.5M. Other allegations have been made by former and current employees including the intentional destruction of information, and document forgery.Why do so many people claim that Ocwen is ripping them off and wrongfully foreclosing on their homes?Is Ocwen really the bad guy?Or are their customers failing to meet their obligations and looking for a quick court buck?This is the first in a series of stories about this company, Ocwen services sub-prime mortgages. This means they service mortgages for people that have had trouble paying their bills in the past. And Ocwen services a lot of these, nearly 400,000 customers. As part of this investigation we decided to review a typical Ocwen customer, and a not so typical Ocwen customer. We will call them Mr. Smith and Mr. Jones (these are real Ocwen customers) who have ask to not be identified because of pending legal action.Mr. Smith just had the loan servicing rights acquired by Ocwen in August of 2005. Mr. Smith has homeowners insurance through Prudential, his premiums are paid and current. In September of 2005 Mr. Smith paid his regular monthly bill to Ocwen with his old account #. Mr. Smith had not received his new payment information from Ocwen and did not want to be late on his payment. Ocwen cashed this payment and on Sept 22nd sent him a letter (to the wrong address), stating he was late on house payment this letter did not contain his new account and payment information.Mr. Smith contacted Ocwen numerous times in writing and on the phone trying to resolve this matter. Many times Mr. Smith would be routed to customer representatives that spoke very poor or unintelligible English or would be disconnected.In October Mr. Smith still had not received his new payment information and again sent another payment to Ocwen, which again they cashed and again sent a letter, this time threatening foreclosure.In November of 2005 Mr. Smith finally received his payment information, the statement showed he was 4 months behind (yes 4 months when he had only been a customer for 3) in his payments and fees had been added that he did not understand, such as homeowners insurance and legal fees and late payment fees, totaling almost $2600. Mr. Smith made another payment in Nov 2005 which was returned by Ocwen stating they could not accept partial payments.Mr. Smith was now receiving nearly daily calls from Ocwen collections, and Mr. Smith responded in writing trying to rectify the situation. In December Mr. Smith received another statement again with a promise of foreclosure and new fees added in order to become current Ocwen now claimed he had to pay a sum of almost $3600.Now these fees were different from the statement he had received the month before for the same items. Homeowners insurance went up $120, legal fees increased by $277 and the house payment itself went down by $38.
Mr. Smith wanted to refinance, but it appears Ocwen has already contacted the Credit Bureaus and reported him being late, he can’t get refinanced.How is this possible?A former employee claims he knows exactly how it’s possible. “The RealServicing software used by Ocwen and the Nightly Processing that reconciles the loan accounts doesn’t work and hasn’t for several years. That’s why customers get different payment information from month to month. It was a running joke in IT on how long the system would be down everyday when it ran. This whole process generated huge error logs that no one ever reviewed and it had been clear to everyone involved in the process that it has major problems”.Ocwen has sued a former consultant that performed a review on this software claiming he has posted confidential information on the Internet and reported this information to Government Agencies and this consultant has already testified in a case against the company in which Ocwen was hit with a $3 Million verdict in Guzman V. Ocwen. This testimony was specific on the problems with Ocwen software and account reconciliation. We contacted this consultant for comment and were informed that because of an Injunction granted to Ocwen he could not discuss the matter, and was prevented from testifying in another case in which he was listed as a witness and the jury awarded the plaintiff $11.5 Million in damages in Davis V. Ocwen. However a hearing was being set to Vacate the Injunction that prevented the consultant from discussing the details of his work at the company. Other former and current employees have confirmed this information and noted that Management has been aware of these issues at the highest levels inside the company. Two employees have even tried to get the company to take action to resolve the problems but have not been successful.WOW. If the company is aware of these problems why haven’t they done something to fix it?Ocwen has not responded to these specific issues yet but has commented and currently claim that they are not intentionally foreclosing on homes. The CEO William Ereby has stated publicly that the company doesn’t make money on foreclosures that their profit comes from servicing the loans themselves.If this is true then why are their an overwhelming number of reports freely available on the internet that confirm the Mr. Smith experience with the company?Why are there so many lawsuits pending against Ocwen?Next month we will continue this series on Ocwen and report on Mr. Jones a very unusual Ocwen customer.
Voice of the People
Ocwen, Allegations of Fraud, Malice, Misrepresentation and Manipulation. Ocwen Financial Corporation ("Ocwen") is a vertically integrated multi-billion dollar, publicly traded (NYSE: OCN) financial services holding company, engaged in a variety of businesses related to mortgage servicing, real estate asset management, asset recovery and technology. Headquartered in West Palm Beach, Florida,Within a 12 month period this company has lost two major lawsuits alleging fraud, malice, misrepresentation and manipulation totaling $14.5M. Other allegations have been made by former and current employees including the intentional destruction of information, and document forgery.Why do so many people claim that Ocwen is ripping them off and wrongfully foreclosing on their homes?Is Ocwen really the bad guy?Or are their customers failing to meet their obligations and looking for a quick court buck?This is the first in a series of stories about this company, Ocwen services sub-prime mortgages. This means they service mortgages for people that have had trouble paying their bills in the past. And Ocwen services a lot of these, nearly 400,000 customers. As part of this investigation we decided to review a typical Ocwen customer, and a not so typical Ocwen customer. We will call them Mr. Smith and Mr. Jones (these are real Ocwen customers) who have ask to not be identified because of pending legal action.Mr. Smith just had the loan servicing rights acquired by Ocwen in August of 2005. Mr. Smith has homeowners insurance through Prudential, his premiums are paid and current. In September of 2005 Mr. Smith paid his regular monthly bill to Ocwen with his old account #. Mr. Smith had not received his new payment information from Ocwen and did not want to be late on his payment. Ocwen cashed this payment and on Sept 22nd sent him a letter (to the wrong address), stating he was late on house payment this letter did not contain his new account and payment information.Mr. Smith contacted Ocwen numerous times in writing and on the phone trying to resolve this matter. Many times Mr. Smith would be routed to customer representatives that spoke very poor or unintelligible English or would be disconnected.In October Mr. Smith still had not received his new payment information and again sent another payment to Ocwen, which again they cashed and again sent a letter, this time threatening foreclosure.In November of 2005 Mr. Smith finally received his payment information, the statement showed he was 4 months behind (yes 4 months when he had only been a customer for 3) in his payments and fees had been added that he did not understand, such as homeowners insurance and legal fees and late payment fees, totaling almost $2600. Mr. Smith made another payment in Nov 2005 which was returned by Ocwen stating they could not accept partial payments.Mr. Smith was now receiving nearly daily calls from Ocwen collections, and Mr. Smith responded in writing trying to rectify the situation. In December Mr. Smith received another statement again with a promise of foreclosure and new fees added in order to become current Ocwen now claimed he had to pay a sum of almost $3600.Now these fees were different from the statement he had received the month before for the same items. Homeowners insurance went up $120, legal fees increased by $277 and the house payment itself went down by $38.
Mr. Smith wanted to refinance, but it appears Ocwen has already contacted the Credit Bureaus and reported him being late, he can’t get refinanced.How is this possible?A former employee claims he knows exactly how it’s possible. “The RealServicing software used by Ocwen and the Nightly Processing that reconciles the loan accounts doesn’t work and hasn’t for several years. That’s why customers get different payment information from month to month. It was a running joke in IT on how long the system would be down everyday when it ran. This whole process generated huge error logs that no one ever reviewed and it had been clear to everyone involved in the process that it has major problems”.Ocwen has sued a former consultant that performed a review on this software claiming he has posted confidential information on the Internet and reported this information to Government Agencies and this consultant has already testified in a case against the company in which Ocwen was hit with a $3 Million verdict in Guzman V. Ocwen. This testimony was specific on the problems with Ocwen software and account reconciliation. We contacted this consultant for comment and were informed that because of an Injunction granted to Ocwen he could not discuss the matter, and was prevented from testifying in another case in which he was listed as a witness and the jury awarded the plaintiff $11.5 Million in damages in Davis V. Ocwen. However a hearing was being set to Vacate the Injunction that prevented the consultant from discussing the details of his work at the company. Other former and current employees have confirmed this information and noted that Management has been aware of these issues at the highest levels inside the company. Two employees have even tried to get the company to take action to resolve the problems but have not been successful.WOW. If the company is aware of these problems why haven’t they done something to fix it?Ocwen has not responded to these specific issues yet but has commented and currently claim that they are not intentionally foreclosing on homes. The CEO William Ereby has stated publicly that the company doesn’t make money on foreclosures that their profit comes from servicing the loans themselves.If this is true then why are their an overwhelming number of reports freely available on the internet that confirm the Mr. Smith experience with the company?Why are there so many lawsuits pending against Ocwen?Next month we will continue this series on Ocwen and report on Mr. Jones a very unusual Ocwen customer.
Friday, January 18, 2008
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.mailto:jeff_ostrowski@pbpost.com
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.mailto:jeff_ostrowski@pbpost.com
Monday, January 7, 2008
Ocwen Loan Servicing got on to make a payment and found out iam not alone Orlando Florida
From: http://www.ripoffreport.com/reports/0/297/RipOff0297742.htm
I was on the phone for an hour an half trying to get though to make a payment to ocwen and was not able to so i got on the computer to try to do it that way and that is when i came across this great web to let me know iam not alone.I AM TRULY SORRY TO ALL OF THEESE FAMILY OUT THERE THAT OCWEN HAS DONE THIS TOO. BUT IAM ALSO GLAD TO SEE IAM NOT ALONE.They will call my house and i think oh good someone is calling i can actully get to talk to someone to find out it is just a record telling me to call them. And i have tryed to call them many many times there is always a wait along wait 1 hour or longer the one time i tryed to call my wait time was over 1 million minutes (no lie )now how is that possible. to get into the fee they have charge to stop the foreclouse on my home .i wont know where to begain my huband and i have owed our home for 12years with no problem ,unit we refinced to try and save a few buck with first federal mortgages and they sold it what ever they do to ocwen. Iam actully getting sick trying to writing but i would to love to get with carl on this class act law suitBilliecumberland, MarylandU.S.A.
I was on the phone for an hour an half trying to get though to make a payment to ocwen and was not able to so i got on the computer to try to do it that way and that is when i came across this great web to let me know iam not alone.I AM TRULY SORRY TO ALL OF THEESE FAMILY OUT THERE THAT OCWEN HAS DONE THIS TOO. BUT IAM ALSO GLAD TO SEE IAM NOT ALONE.They will call my house and i think oh good someone is calling i can actully get to talk to someone to find out it is just a record telling me to call them. And i have tryed to call them many many times there is always a wait along wait 1 hour or longer the one time i tryed to call my wait time was over 1 million minutes (no lie )now how is that possible. to get into the fee they have charge to stop the foreclouse on my home .i wont know where to begain my huband and i have owed our home for 12years with no problem ,unit we refinced to try and save a few buck with first federal mortgages and they sold it what ever they do to ocwen. Iam actully getting sick trying to writing but i would to love to get with carl on this class act law suitBilliecumberland, MarylandU.S.A.
Sunday, December 30, 2007
OCWEN LOAN SERVICING, LLC ANYONE FOR A CLASS ACTION SUIT AGAINST OCWEN LOAN SERVICING, LLC ORLANDO Florida
From: http://www.ripoffreport.com/reports/0/295/RipOff0295279.htm
After reading many of the reports filed on this site, it has come to my attention that it is time the home owners should file a class action suit against this company. I too have had the same problems as many of you that have already reported. We were given to Ocwen when Aegis Mortgage Company filed Bankruptcy. We were on a forebearance program and then in November were sent a letter to bring the account current, that we would longer be on the forebearance program. The first certified letter came November 16 with a demand payment by December 16. Then we get a second certified letter dated November 19 with a demand payment for 1/2 the payment of the November 16 letter to be made by December 16. Then we get a third certified Demand letter December 17 demanding payment by January 17 with the same amount of money due (adding $5.21 more to the payment) that was due in the November Letter. We are current with our payments. We have proof of this. So what they are trying to pull, just does not make sense and to reach them by phone is a nightmare. To email them, you are really lucky if you get a reply of which they claim they will replay to you within 15 days. Whoop tee doo!! According to the Govenment Pamphlet on Fair Credit Practices, Section 805, clearly states that frequent calling (of which no one is on the other line either) is a form of Harrassment and is illegal. Well, with reading all the reports that have been given on this web site, maybe it is time that a class action lawsuit be filed to wake the company up. Oh, by the way, when they outsource to third world companies, and then ask for my social security number, are they crazy!!!! There is no way in 'Gods Green Earth' I am going to give anyone outside the United States my Social Security Number. I contacted my attorney and she said we have a great case. Maybe someone should put their money where their mouths are and prove to others that they honor what they say on their Web site. Do I have any takers. If you are interested in going with me in a class action law suit, please contact me through this web site and I will find a way that we can all communicate to get one started. I will watch this site daily to see how many people are really serious about starting the procedure. Without you there will be no releif for so many of us and more in the future.CarlSacramento, CaliforniaU.S.A.
After reading many of the reports filed on this site, it has come to my attention that it is time the home owners should file a class action suit against this company. I too have had the same problems as many of you that have already reported. We were given to Ocwen when Aegis Mortgage Company filed Bankruptcy. We were on a forebearance program and then in November were sent a letter to bring the account current, that we would longer be on the forebearance program. The first certified letter came November 16 with a demand payment by December 16. Then we get a second certified letter dated November 19 with a demand payment for 1/2 the payment of the November 16 letter to be made by December 16. Then we get a third certified Demand letter December 17 demanding payment by January 17 with the same amount of money due (adding $5.21 more to the payment) that was due in the November Letter. We are current with our payments. We have proof of this. So what they are trying to pull, just does not make sense and to reach them by phone is a nightmare. To email them, you are really lucky if you get a reply of which they claim they will replay to you within 15 days. Whoop tee doo!! According to the Govenment Pamphlet on Fair Credit Practices, Section 805, clearly states that frequent calling (of which no one is on the other line either) is a form of Harrassment and is illegal. Well, with reading all the reports that have been given on this web site, maybe it is time that a class action lawsuit be filed to wake the company up. Oh, by the way, when they outsource to third world companies, and then ask for my social security number, are they crazy!!!! There is no way in 'Gods Green Earth' I am going to give anyone outside the United States my Social Security Number. I contacted my attorney and she said we have a great case. Maybe someone should put their money where their mouths are and prove to others that they honor what they say on their Web site. Do I have any takers. If you are interested in going with me in a class action law suit, please contact me through this web site and I will find a way that we can all communicate to get one started. I will watch this site daily to see how many people are really serious about starting the procedure. Without you there will be no releif for so many of us and more in the future.CarlSacramento, CaliforniaU.S.A.
Sunday, December 23, 2007
Ocwen Can you believe this Orlando Florida
From: http://www.ripoffreport.com/reports/0/292/RipOff0292674.htm
I am horrified at this site. How many people have to write basically the same story before the curtain falls on Ocwen. I am currently in foreclosure with a foreclosure sale date from this horrible company. I am appalled at the entries from Ocwen employees ( if any of them are employees of Ocwen and not the company lawyers themselves ) even suggesting that the endless amount of customers including myself that are being victimized by this company are somehow at fault or overextended or didn't understand mortgages. I ( like so many of you ) have written, called, put on hold for 45 minutes then hung up on for one solid year.I believe it's important to note: I DID NOT CHOOSE OCWEN, THEY CHOSE ME!!!!In summary of my nightmare with Ocwen - Dec. 2006 they bought my note from Indy-Mac. They sent my first notice in Jan. 2007, they never applied my Dec. 2006 payment made to Indy-Mac and the horror began. I called constantly, wrote to them constantly - never got any additional response except that they had no record of the December payment - no kidding, in my letter I explained the Dec. payment went to Indy-Mac. The late charges began with every month, in July 2007 - I didn't receive a payment coupon - but soon, letters from an attorney for foreclosure.I have written to my Senators, Governor, Attorney General, Banking Regulators in New Hampshire to intervene. I asked Ocwen for an amount to bring my mortgage into current and good standing, told them I had all the money for the 'real' payments. NO RESPONSE except a letter from their Massachusetts lawyer giving me a Foreclosure date.Good to know the law firms of this country like working for the crooks, must be better money than honesty, integrity, and everything our system is suppose to represent. Please note: the law firm of KORDE & ASSOCIATES in CHELMSFORD, MA. are working for the crooks and have no problem with it.I am facing foreclosure in January, have hired an attorney ( like I can afford to waste money there ) and will sue Ocwen for the rest of my life if I have to. I am lost as to why our government, local, state and federal doesn't come storming up to the doors of this scum outfit and arrest everyone there, including each employee from janitor to CEO ( employees just because you would have to be stupid or a thief to work there ). What's it going to take to get action - while Ocwen continues to ruin hard working people's lives.Entry after entry ( to include mine ) say the same thing over and over - what does the government think - all of us that according to government officials should not have HOMES to begin with, as the Senator from Massachusetts Barnie Franks -Democrat says - got together and made this up.We are in the ( love this term ) SUB-PRIME market because 'A' Banks won't even talk to us - apparently they (Banks) know better than we do what we can afford or really who should have HOMES. We (I) need ACTION, not a huge amount of entries that state the same horror story.The ACTION required - scum like Ocwen, Option One, Wells-Fargo need to be forced out of business and all our mortgages need to be secured FIXED with a reasonable interest rate. No more words
I am horrified at this site. How many people have to write basically the same story before the curtain falls on Ocwen. I am currently in foreclosure with a foreclosure sale date from this horrible company. I am appalled at the entries from Ocwen employees ( if any of them are employees of Ocwen and not the company lawyers themselves ) even suggesting that the endless amount of customers including myself that are being victimized by this company are somehow at fault or overextended or didn't understand mortgages. I ( like so many of you ) have written, called, put on hold for 45 minutes then hung up on for one solid year.I believe it's important to note: I DID NOT CHOOSE OCWEN, THEY CHOSE ME!!!!In summary of my nightmare with Ocwen - Dec. 2006 they bought my note from Indy-Mac. They sent my first notice in Jan. 2007, they never applied my Dec. 2006 payment made to Indy-Mac and the horror began. I called constantly, wrote to them constantly - never got any additional response except that they had no record of the December payment - no kidding, in my letter I explained the Dec. payment went to Indy-Mac. The late charges began with every month, in July 2007 - I didn't receive a payment coupon - but soon, letters from an attorney for foreclosure.I have written to my Senators, Governor, Attorney General, Banking Regulators in New Hampshire to intervene. I asked Ocwen for an amount to bring my mortgage into current and good standing, told them I had all the money for the 'real' payments. NO RESPONSE except a letter from their Massachusetts lawyer giving me a Foreclosure date.Good to know the law firms of this country like working for the crooks, must be better money than honesty, integrity, and everything our system is suppose to represent. Please note: the law firm of KORDE & ASSOCIATES in CHELMSFORD, MA. are working for the crooks and have no problem with it.I am facing foreclosure in January, have hired an attorney ( like I can afford to waste money there ) and will sue Ocwen for the rest of my life if I have to. I am lost as to why our government, local, state and federal doesn't come storming up to the doors of this scum outfit and arrest everyone there, including each employee from janitor to CEO ( employees just because you would have to be stupid or a thief to work there ). What's it going to take to get action - while Ocwen continues to ruin hard working people's lives.Entry after entry ( to include mine ) say the same thing over and over - what does the government think - all of us that according to government officials should not have HOMES to begin with, as the Senator from Massachusetts Barnie Franks -Democrat says - got together and made this up.We are in the ( love this term ) SUB-PRIME market because 'A' Banks won't even talk to us - apparently they (Banks) know better than we do what we can afford or really who should have HOMES. We (I) need ACTION, not a huge amount of entries that state the same horror story.The ACTION required - scum like Ocwen, Option One, Wells-Fargo need to be forced out of business and all our mortgages need to be secured FIXED with a reasonable interest rate. No more words
Friday, December 21, 2007
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
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
Thursday, December 13, 2007
Help needed on an open Class Acton Law Suit against Ocwen
I just did a search on Ripoff Report and it came back with 1540 Reports Found on Ocwen!!! (as of 12/8/2007) What the Hell is going on, and why hasn't our Government shut this Dishonest Company DOWN! From what I have read and is now going on to me, this is criminal! Any help on a Class Acton Law Suit going on now and a Good Attorney in Utah would be appreciated. Please leave help information in the Comments
Thanks DD
Ripoff Report Link: http://www.ripoffreport.com/searchresults.asp?q1=ALL&q2=&q3=&q4=&q5=&q7=&q6=ocwen&searchtype=0
Thanks DD
Ripoff Report Link: http://www.ripoffreport.com/searchresults.asp?q1=ALL&q2=&q3=&q4=&q5=&q7=&q6=ocwen&searchtype=0
Tuesday, December 11, 2007
I need a loss mitigation contact person and phone number for Ocwen financial corporation?
from: http://answers.yahoo.com/question/index;_ylt=Am04AbepFHAxGBc3fAAdfokjzKIX;_ylv=3?qid=1006060211883
Ocwen Financial Corporation1
661 Worthington Rd., Suite 100West Palm Beach, Florida 33409
Phone: 877-226-2936
For serving Ocwen with legal process, please send to their registered agent:Corporation Service Company2711 Centerville Road, Suite 400Wilmington, DE 19808Phone: 561-682-8000, x8386
Ocwen Financial Corporation1
661 Worthington Rd., Suite 100West Palm Beach, Florida 33409
Phone: 877-226-2936
For serving Ocwen with legal process, please send to their registered agent:Corporation Service Company2711 Centerville Road, Suite 400Wilmington, DE 19808Phone: 561-682-8000, x8386
Monday, December 10, 2007
OCWEN opinion - FINANCE-Mortgage
From: http://www.pissedconsumer.com/consumer-reviews/mortgage/ocwen-opinion-%11-finance%11mortgage-2007071078224.html
07-10-2007
We just bought our house in September and already I feel like I am in a nightmare. My mortgage was sold to Ocwen December of last year. I pre-paid the last month before it was sold because of tax reasons, so my first payment wasn't due until February 2006. I sent my payments out as usual and My 1st mortgage (which is with Chase) cashed thier check on the 11th of February. I waited couple of days and decided to call Ocwen to find out what the hold up was. Before I got that chance we recieved a welcome to the company call and was told that they saw the payment we had made and were processing the payment. So I waited another week. No payment posted to my account. Before I could call to find out we recieved another phone call from Ocwen. This time asking when were we going to make a payment. I asked them what abouth the payment you processed? They claimed there was no such payment. I then said well I would be more than happy to pay now but I would have to cancell the check I already sent to them via USPS. They then stated that they would charge me if they recieved the check and it had a stopped payment fee. So I said tht I would wait some more and see if it turned up. Needless to say I recieved another phone call on the 2nd of March saying that we were behind and that if we didn't make a payment that they would report us to the credit bureau. So I explained as I had before that I would have to stop payment on the check before I could agree to make a payment and that I would make both payments now if they agreed to not process the check. The person agreed and I made a payment the very same evening. The following morning I checked my accont and the check not only was cashed but cleared my acount! I called my bank and was told there was nothing they could do that the funds had to be returned by the merchant. So I the called Ocwen and told them I wanted my money back now. I don't know who can afford to make 3 mortgage payments but I wasn't it. The very next business day they credited the funds electronically back to my account. You would think everything would be fine, but nooooo....This was only the beginning. A week later, maybe less, I get another phone call telling me that we still owe them money. They claimed that our bank had stopped payment on the check and the double payment we made on speedpay was used to cover the payment we missed because of the stopped payment. And that they sent me the money back before the bank stopped payment.????????????????????????????????I had a cancelled check from their bank(thank somebody for online banking) and confirmation from my bank stating that there was no stopped check and this went on and on and on for weeks and weeks. I have spent several hours and spoken to several people who claim to help and don't. I have a whole file of names, dates, times, emails, confirmation numbers, phone records, letters. I am truley fed up so I googled Ocwen lawsuits and really got paranoid and asked if I could refinance before they decide to take my house too. So thats what I am doing. I am tired of dealing with them and frankly give up. The last statement I recieved said I was 2 months behind.Even though I speak to a person and they say I am all caught up. I can't trust that this is true because it is now June. They say they are doing something but I am afraid to loose my house, I mean I just got it. They are horible and I just want my life back!QuashinnaHopatcong, New JerseyU.S.A.
07-10-2007
We just bought our house in September and already I feel like I am in a nightmare. My mortgage was sold to Ocwen December of last year. I pre-paid the last month before it was sold because of tax reasons, so my first payment wasn't due until February 2006. I sent my payments out as usual and My 1st mortgage (which is with Chase) cashed thier check on the 11th of February. I waited couple of days and decided to call Ocwen to find out what the hold up was. Before I got that chance we recieved a welcome to the company call and was told that they saw the payment we had made and were processing the payment. So I waited another week. No payment posted to my account. Before I could call to find out we recieved another phone call from Ocwen. This time asking when were we going to make a payment. I asked them what abouth the payment you processed? They claimed there was no such payment. I then said well I would be more than happy to pay now but I would have to cancell the check I already sent to them via USPS. They then stated that they would charge me if they recieved the check and it had a stopped payment fee. So I said tht I would wait some more and see if it turned up. Needless to say I recieved another phone call on the 2nd of March saying that we were behind and that if we didn't make a payment that they would report us to the credit bureau. So I explained as I had before that I would have to stop payment on the check before I could agree to make a payment and that I would make both payments now if they agreed to not process the check. The person agreed and I made a payment the very same evening. The following morning I checked my accont and the check not only was cashed but cleared my acount! I called my bank and was told there was nothing they could do that the funds had to be returned by the merchant. So I the called Ocwen and told them I wanted my money back now. I don't know who can afford to make 3 mortgage payments but I wasn't it. The very next business day they credited the funds electronically back to my account. You would think everything would be fine, but nooooo....This was only the beginning. A week later, maybe less, I get another phone call telling me that we still owe them money. They claimed that our bank had stopped payment on the check and the double payment we made on speedpay was used to cover the payment we missed because of the stopped payment. And that they sent me the money back before the bank stopped payment.????????????????????????????????I had a cancelled check from their bank(thank somebody for online banking) and confirmation from my bank stating that there was no stopped check and this went on and on and on for weeks and weeks. I have spent several hours and spoken to several people who claim to help and don't. I have a whole file of names, dates, times, emails, confirmation numbers, phone records, letters. I am truley fed up so I googled Ocwen lawsuits and really got paranoid and asked if I could refinance before they decide to take my house too. So thats what I am doing. I am tired of dealing with them and frankly give up. The last statement I recieved said I was 2 months behind.Even though I speak to a person and they say I am all caught up. I can't trust that this is true because it is now June. They say they are doing something but I am afraid to loose my house, I mean I just got it. They are horible and I just want my life back!QuashinnaHopatcong, New JerseyU.S.A.
Sunday, December 9, 2007
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.
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 Reaches Customer Service Deal
From: http://www.ncrc.org/pressandpubs/press_clippings/2004/ocwen2.php
Palm Beach PostApril 21, 2004By Jeff Ostrowski
Flooded with complaints by borrowers, consumer advocates and class-action attorneys, mortgage company Ocwen Financial Corp. has stopped its most-criticized business practices.
West Palm Beach-based Ocwen entered a nine-page "supervisory agreement" with the federal Office of Thrift Supervision, the company and regulators said Tuesday. The regulatory action follows hundreds of consumer complaints and several proposed class-action suits against Ocwen, a federal-chartered thrift.
Plaintiffs accuse the mortgage company of imposing unjustified fees, then ignoring consumers' gripes about those charges. The Palm Beach Post revealed in January many of the complaints and suits pending against Ocwen. At that time, Ocwen President Ronald Faris called the suits "misdirected and baseless."
Now, Ocwen said it:No longer will charge borrowers for letters notifying them they've defaulted on their mortgages. Ocwen had called the $95 charge a legitimate cost of doing business.
Will take "reasonable actions" before forcing homeowners to pay for pricey insurance policies.
Will include "only supportable and actual fees and charges" when it tells borrowers how much they owe.
Will "improve the manner and reduce the time" it takes to respond to consumer complaints.
Has set up an ombudsman's office to handle customer complaints.
"We are grateful for the insights gained from our ongoing dialogue with OTS and consumer interest organizations, and will continue to strive for ways to better serve our clients," Ocwen Chairman and Chief Executive William Erbey said in a statement.
As a mortgage servicer, Ocwen collects payments on behalf of lenders. Ocwen handles about 350,000 mortgages, most of them held by borrowers with spotty credit.
Shares of Ocwen (NYSE: OCN, $10.90) fell 3.4 percent Tuesday, but one analyst called the regulatory action good news. Rules for so-called subprime mortgage servicing companies have been unclear, said Jim Fowler of JMP Securities in San Francisco."It's good that they sit down with their regulator and come to a conclusion about things they can do and can't do," he said.
Consumer advocate David Berenbaum of the National Consumer Reinvestment Coalition said the regulatory action doesn't go far enough. Ocwen should offer to repay borrowers who have been charged fees unfairly or who have lost their houses, he said.
And because the regulatory agreement doesn't compensate past customers, Berenbaum expects lawsuits to continue.
"Is it going to buy Ocwen peace from its critics? By no means, because we still have hundreds of consumers who have been wronged by Ocwen," Berenbaum said.
Palm Beach PostApril 21, 2004By Jeff Ostrowski
Flooded with complaints by borrowers, consumer advocates and class-action attorneys, mortgage company Ocwen Financial Corp. has stopped its most-criticized business practices.
West Palm Beach-based Ocwen entered a nine-page "supervisory agreement" with the federal Office of Thrift Supervision, the company and regulators said Tuesday. The regulatory action follows hundreds of consumer complaints and several proposed class-action suits against Ocwen, a federal-chartered thrift.
Plaintiffs accuse the mortgage company of imposing unjustified fees, then ignoring consumers' gripes about those charges. The Palm Beach Post revealed in January many of the complaints and suits pending against Ocwen. At that time, Ocwen President Ronald Faris called the suits "misdirected and baseless."
Now, Ocwen said it:No longer will charge borrowers for letters notifying them they've defaulted on their mortgages. Ocwen had called the $95 charge a legitimate cost of doing business.
Will take "reasonable actions" before forcing homeowners to pay for pricey insurance policies.
Will include "only supportable and actual fees and charges" when it tells borrowers how much they owe.
Will "improve the manner and reduce the time" it takes to respond to consumer complaints.
Has set up an ombudsman's office to handle customer complaints.
"We are grateful for the insights gained from our ongoing dialogue with OTS and consumer interest organizations, and will continue to strive for ways to better serve our clients," Ocwen Chairman and Chief Executive William Erbey said in a statement.
As a mortgage servicer, Ocwen collects payments on behalf of lenders. Ocwen handles about 350,000 mortgages, most of them held by borrowers with spotty credit.
Shares of Ocwen (NYSE: OCN, $10.90) fell 3.4 percent Tuesday, but one analyst called the regulatory action good news. Rules for so-called subprime mortgage servicing companies have been unclear, said Jim Fowler of JMP Securities in San Francisco."It's good that they sit down with their regulator and come to a conclusion about things they can do and can't do," he said.
Consumer advocate David Berenbaum of the National Consumer Reinvestment Coalition said the regulatory action doesn't go far enough. Ocwen should offer to repay borrowers who have been charged fees unfairly or who have lost their houses, he said.
And because the regulatory agreement doesn't compensate past customers, Berenbaum expects lawsuits to continue.
"Is it going to buy Ocwen peace from its critics? By no means, because we still have hundreds of consumers who have been wronged by Ocwen," Berenbaum said.
Ocwen facing litigation wave
From: http://www.bizjournals.com/southflorida/stories/2006/01/23/story3.html
Dated Friday, January 20, 2006
Ocwen Financial, one of the nation's largest servicers of mortgages to consumers with low credit scores, may appeal a $1.8 million judgment in Texas as it strives to deal with hundreds of cases alleging fraud.
Plaintiff lawyers are currently seeking class action status for 57 federal cases being consolidated in Chicago and the West Palm Beach company says it is facing 331 lawsuits altogether. Ocwen (NYSE: OCN) previously wound down its savings and loan subsidiary after an enforcement action by the Office of Thrift Supervision.
The allegations are sometimes harsh - one plaintiff describes the company's actions as "naked fraud" - but Ocwen general counsel Paul Koches said the lawsuits are partly due to the fact that subprime loans have a higher incidence of late payments. The sheer volume of Ocwen's business also is a factor: It services about 368,000 loans, mostly subprime.
Jury: Award $11.5 million
Among past customers is Sealy Davis, a home equity loan borrower, who won her fraud claim in Texas. A jury on Nov. 29 said she should get $11.5 million. On Jan. 17, Judge Susan Criss, of Texas' 212th Judicial District, said she was preparing to sign an order cutting that to $1.8 million.
Davis' attorney, Robert Hilliard of Corpus Christi, said: "The jury believed that Ocwen has a scheme of stealing homes" by classifying timely payments as late and then beginning a foreclosure proceeding.
"We think the evidence supported the $11.5 million verdict," he said. He proposed the lower figure based on what he determined to be Texas precedents on juries' multiple damage assessments.
Attorneys for Ocwen asked that the verdict be reversed or that no penalty should be assessed.
In its appeal, Ocwen plans to keep pressing that Davis was in "severe delinquency," Koches said.
But Ocwen probably isn't done with Hilliard. The attorney said he is preparing to file about 100 suits for Texas residents who claim Ocwen falsified mortgage payments and began foreclosure proceedings.
An exact number of suits that customers have filed against Ocwen and its former Ocwen Federal Bank subsidiary was not readily available.
Dated Friday, January 20, 2006
Ocwen Financial, one of the nation's largest servicers of mortgages to consumers with low credit scores, may appeal a $1.8 million judgment in Texas as it strives to deal with hundreds of cases alleging fraud.
Plaintiff lawyers are currently seeking class action status for 57 federal cases being consolidated in Chicago and the West Palm Beach company says it is facing 331 lawsuits altogether. Ocwen (NYSE: OCN) previously wound down its savings and loan subsidiary after an enforcement action by the Office of Thrift Supervision.
The allegations are sometimes harsh - one plaintiff describes the company's actions as "naked fraud" - but Ocwen general counsel Paul Koches said the lawsuits are partly due to the fact that subprime loans have a higher incidence of late payments. The sheer volume of Ocwen's business also is a factor: It services about 368,000 loans, mostly subprime.
Jury: Award $11.5 million
Among past customers is Sealy Davis, a home equity loan borrower, who won her fraud claim in Texas. A jury on Nov. 29 said she should get $11.5 million. On Jan. 17, Judge Susan Criss, of Texas' 212th Judicial District, said she was preparing to sign an order cutting that to $1.8 million.
Davis' attorney, Robert Hilliard of Corpus Christi, said: "The jury believed that Ocwen has a scheme of stealing homes" by classifying timely payments as late and then beginning a foreclosure proceeding.
"We think the evidence supported the $11.5 million verdict," he said. He proposed the lower figure based on what he determined to be Texas precedents on juries' multiple damage assessments.
Attorneys for Ocwen asked that the verdict be reversed or that no penalty should be assessed.
In its appeal, Ocwen plans to keep pressing that Davis was in "severe delinquency," Koches said.
But Ocwen probably isn't done with Hilliard. The attorney said he is preparing to file about 100 suits for Texas residents who claim Ocwen falsified mortgage payments and began foreclosure proceedings.
An exact number of suits that customers have filed against Ocwen and its former Ocwen Federal Bank subsidiary was not readily available.
Friday, December 7, 2007
FINAL Comment . . . Until I have MEANINGFUL case update to report
Point 1: Who EVER said CRIMINAL charges were contained in original Connecticut class action? CIVIL RICO (Racketeering) charges were included, but only governmental authorities can bring criminal charges in a court of law. What I shared with the whole wide world in posts was that information reflecting criminal misconduct, sent to me by at-the-time workers within Ocwen's Orlando facility, had been turned over to the FBI (with the hope, obviously, that criminal charges would result). As most informed folk know, the FBI typically does not make public statements about the existence or non-existence of criminal investigations, so that is where that lies. The class action complaint, avaliable via the CBS website, NEVER once mentioned criminal charges (those who have eyes to see, let them see).Point 2: INFORMED folk know that once the MDL consolidates supposedly similar cases in one court for pretrial proceedings (meaning, for motion practice including motions to dismiss, discovery including depositions, and summary judgment hearings) the federal court to whom the matters are transferred typically will NOT render redundant the MDL consolidation order. The transferee court (in my first-hand experience as a lawyer who has litigated in a number of federal class actions arounf the USA, as well as based on my prolific research into other class actions nationwide) will not sever and remand ANY complaint which has class allegations back to its original forum, in advance of the completion of pretrial proceedings (which is why the cases almost always settle or get dismissed collectively once the MDL transfer occurs).The transferee court MAY remand upon motion, cases which demonstrate that they are so DISSIMILAR that it would be unjust to lump them in with the MDL pack. For example, the Hanson complaint was against Ocwen and Moss Codilis and was grounded on about 18 claims, largely federal, such as Fair Debt Collection, Fair Credit Reporting, RICO, Fraud, Intentional and Neglicgent Infliction of Emotional Distress, Breach of Contract, Unfair Trade Practices, etc. Many of the other transferred cases also named either Ocwen and/or Moss Codilis, and invoked FDCPA or breach of contract.IF somebody sued Ocwen in STATE court asserting on an INDIVIDUALIZED BASIS that Ocwen had illegally forclosed their home, or that Ocwen had violated a bankruptcy injunction, and Ocwen petitioned the MDL to transfer the case and the MDl did, then the Chicago Court might entertain a remand motion, because that claim is dissimilar to the claism in the consolidated cases.It was precisely due to KNOWING in advance the risks of MDL consolidation, that my fight to oppose consolidation reached almost legendary proportions. We spoke against it in Jacksonville; our opposition to certain structures continued into Chicago. Judge Norgle ruled, and (as lawyers are expected to do) we said 'thank you' and accepted the non-appealable, interlocutroy, orders.So, PLEASE, for those who do not have the FACTS or are not fully informed on substantive and procedural law: refrain if you will from sacarstic discourses or the throwing of darts without knowing the facts. SHOW ME ONE CLASS ACTION COMPLAINT AGAINST OCWEN BASED ON FRAUDULENT LOAN SERVICING (as opposed to 'my home and mine alone was foreclosed,' etc.) WHICH HAS BEEN REMANDED SINCE BEING TRANSFERRED TO CHICAGO, AND I WILL ... you pick what you will have me do once you prove that. Seriously! Someone show me a successfully remanded federal-law-based class action case against Ocwen, and I shall sell you a real, live unicorn with wings! Posting a confusing docket sheet which does not identify what the 'Associated Cases' are about, and then insinuating that somehow a 'gentleman's' (sacarstic words) silence is suspicious is a deep disservice both to the anxious victims and to the 'gentleman' who had previously taken you into his closest confidence and shared with you information imparted directly to only a handful of other folk. It reminds me of one Shakespearan drama, where an unnamed Roman Emperor says in shock to an unnamed Roman Senator: 'Et tu, Brutus?'I will not engage in any further, futile, point-counter-point debates here. I have a right to my silence and I have never told anyone that I will individually save their house by marching into the sunset on a donkey tilting at windmills. I am NOT in this litigation to win brownie points, esle I would be constantly posting all over the Net to keep my name in the minds of readers.I will not be baited into responding again unless I have breaking news to report to the victims who are starining for answers and to whom I have stated in private emails that they each have their own obligation to check with the Court in Chicago for updates, as I am one person, with time constraints, who is NOT being paid and who will likely not recoup the sums invested to date. My goal remains intact: to focus on Ocwen and not be distracted by non-facts. I have a life to live. Thank you.
My bad! I cannot understand how I became so misguided.
You yourself posted the entire Ocwen docket under this report:http://www.ripoffreport.com/reports/ripoff67212.htmUpon reading it, I saw:Cause: 18:1961 Racketeering (RICO) ActWhen researching this code I came to this:From US CODE COLLECTION http://www4.law.cornell.edu/uscode/uscode18/usc_sec_18_00001961----000-.htmlTITLE 18 > PART I > CHAPTER 96 > § 1961 § 1961. Definitions(1) “racketeering activity" means(A) any act or threat involving murder, kidnapping, gambling, arson, robbery, bribery, extortion, dealing in obscene matter, or dealing in a controlled substance or listed chemical (as defined in section 102 of the Controlled Substances Act), which is chargeable under State law and punishable by imprisonment for more than one year;(B) any act which is indictable under any of the following provisions of title 18, United States Code: Section 201 (relating to bribery), section 224 (relating to sports bribery), sections 471, 472, and 473 (relating to counterfeiting), section 659 (relating to theft from interstate shipment) if the act indictable under section 659 is felonious, section 664 (relating to embezzlement from pension and welfare funds), sections 891–894 (relating to extortionate credit transactions), section 1028 (relating to fraud and related activity in connection with identification documents), section 1029 (relating to fraud and related activity in connection with access devices), section 1084 (relating to the transmission of gambling information), section 1341 (relating to mail fraud), section 1343 (relating to wire fraud), section 1344 (relating to financial institution fraud), section 1425 (relating to the procurement of citizenship or nationalization unlawfully), section 1426 (relating to the reproduction of naturalization or citizenship papers), section 1427 (relating to the sale of naturalization or citizenship papers), sections 1461–1465 (relating to obscene matter), section 1503 (relating to obstruction of justice), section 1510 (relating to obstruction of criminal investigations), section 1511 (relating to the obstruction of State or local law enforcement), section 1512 (relating to tampering with a witness, victim, or an informant), section 1513 (relating to retaliating against a witness, victim, or an informant), section 1542 (relating to false statement in application and use of passport), section 1543 (relating to forgery or false use of passport), section 1544 (relating to misuse of passport), section 1546 (relating to fraud and misuse of visas, permits, and other documents), sections 1581–1588 (relating to peonage and slavery), section 1951 (relating to interference with commerce, robbery, or extortion), section 1952 (relating to racketeering), section 1953 (relating to interstate transportation of wagering paraphernalia), section 1954 (relating to unlawful welfare fund payments), section 1955 (relating to the prohibition of illegal gambling businesses), section 1956 (relating to the laundering of monetary instruments), section 1957 (relating to engaging in monetary transactions in property derived from specified unlawful activity), section 1958 (relating to use of interstate commerce facilities in the commission of murder-for-hire), sections 2251, 2251A, 2252, and 2260 (relating to sexual exploitation of children), sections 2312 and 2313 (relating to interstate transportation of stolen motor vehicles), sections 2314 and 2315 (relating to interstate transportation of stolen property), section 2318 (relating to trafficking in counterfeit labels for phonorecords, computer programs or computer program documentation or packaging and copies of motion pictures or other audiovisual works), section 2319 (relating to criminal infringement of a copyright), section 2319A (relating to unauthorized fixation of and trafficking in sound recordings and music videos of live musical performances), section 2320 (relating to trafficking in goods or services bearing counterfeit marks), section 2321 (relating to trafficking in certain motor vehicles or motor vehicle parts), sections 2341–2346 (relating to trafficking in contraband cigarettes), sections 2421–24 (relating to white slave traffic),(This is the first two paragraphs only. The rest of the code may be read at the above link)I must have mistakenly made the leap that your case was pursuing some kind of criminal charges. Seems that there were some comments made here and there about Ocwen principals going to jail, but I probably dreamed that.So I can safely assume that no one/no case can/will get remanded away from Chicago, there are no criminal charges and never were, and the whole thing tick-tocks into a civil (no one admits wrongdoing) settlement at some unknown point in the future?As for sarcasm, how can you possibly think so? I simply used the word contained in the quote from a revered wise man: 'gentleman'. Has that word become a slur while I was not looking?Just seeking information from someone who has failed to impart any for a long time. I guess I now have some answers.Have a good, long and prosperous life, blessed with all that you deserve.
Getting out of the class action against Ocwen Hell!
Dear Mr. Hanson:You know me well and know how much I have trusted you for almost 3 years already. I have always been absolutely honest with you. And I need to keep that very same level of honesty whenever I address you, in private or in public.I can affirm that you have treated me ALWAYS with respect, consideration, and even affection. Reciprocity have prevailed, and older folks at this forum, my brother and sisters in misery, have seen how ardently I have always deffended you in your search for justice.I personally acknowledge all the time and and family sacrifices you have offered to this case against Ocwen Federal Bank and its accomplices.It is with an aching heart, that I decide to drop out of the class action against Ocwen Federal Bank, now in Chicago, Illinois. Only God knows how much I have endured at a personal level and how much I had encouraged my beautiful little lady, my mother, to wait for the final outcome of this case. It has been particularly difficult to maneuver our safety under the monster, and at the same time, deal with health problems and an old lady that might die any day soon due to her age and frailty.I want to be able to tell my mother before she dies: 'Madre, we got it! Smile, mother, because the criminals who lied to us in order to take from your arms the home you wanted for me and your grandchildren, are all in jail. Justice have been made, mother. You can experience peace now, mother, before you go to the Lord'I always believed this case against Ocwen was a criminal case. I dont blame it on you, but I was wrong at believing it. I want you, please, to excuse my ignorance. I blame it on my ignorance. I ask the folks, those that I have addressed in the past, asking them to be part of the class action if they ever felt Ocwen had a criminal conduct, to please, forgive me for that, if they can. I want you, all, my dear Ocwen brothers and sisters, to forgive me. I dont know if you can do it. Many have aleady lost their homes (and their families). Many are in the process of having them stolen by the thief, Ocwen. Many more fight against this monstruos company, day and night, and cry, and loose hours of sleep, and productive work hours, have and are been lost, and their children have been disperssed, and their marriages broken, while I have been asking all to wait for the end of the class action results, based on a false belief. I need you all to forgive me, if you can. If Ocwen victims can not forgive me, I guess that is the price I will need to pay for my ignorance.I am embarrased and very saddened for your statements Mr. Hanson. Yet, the blame is on me. I will need to forgive myself,..the most difficult task.I have always said Ocwen is a criminal. I am convinced the word Ocwen can not be pronounced without identifying all it represents: deceit, fraud, crime, lies, misery, horror, shame.I have wait while the life I have to live is in 'limbo', because Ocwen Federal Bank, and all its friends.If the class action, now in Chicago, is not going to show that Ocwen is a crimianl, I simply find myself displaced by it. I am not a part of it, there is no place in it for me, because all claims I have against Ocwen are all CRIMINAL.I wont sit at a table with those lives destroyers, evictors, thieves, corporate bandits of the worst class. After all, what the phrase 'White Collar Crime' means? Does the word 'crime'-in English- means 'crime' all the time or sometimes only? I will be sending you a new Affidavit stating that I want OUT of that class action. My little lady, seriously disturbed, will sign it too. I am a principled human being. I might or not be homeless in the near future, but the day I die, I will die a PRICIPLED woman, nothing more, nothing less.A civil action only deals with the corporations entities, their contracts and moneis, and I am a human being with God given rights. All Ocwen victims have the same God given rights I have as well. Not court need to stablish those rights. No FBI, no IRS, no DOJ, no HUD, no DOR, no FTC, no OTS, needs to declare those rights. Our Lord gave us all those rights at birth, and HE is the only want who has the authority/power to give them.I am not so sorry about the FBI delay in their investigations. In my case, I gave them my proof, as I gave it to you, and still collecting more and more, for their information. It is not my fault that the FBI does not want to use that information to do justice. I dont need them to investigate anything for me. I used to believe they work for us, but I am finding out that I never understood their job description very well. May be the FBI, the IRS, and the despicable OTS duties, are to protect Ocwen and its friends interests. It is okay if that is their job description. I blame it on me I did not realize it before. Point being, a crime is a crime, a crime is a crime,....regardless of FBI acknowledgement of it or not. Are we, Ocwen victims, at fault, just because the FBI is incompetent or malicious, or any other thing that prevents it from prosecuting the criminal corporations? NO, WE ARE NOT. I wonder, Mr. Hanson, what the Oath of Office of Judge Charles R. Norgle Sr. reads? I am a woman of limited intelligence, and means. I dont have the intellectual ability to do proper research. So, I dont know what Judge Norgle's Oath read. But I do know that if his Oath has nothing to do with upholding and defending the constitution of the United States of America, WE THE PEOPLE can not expect justice from him.I dont forget that for years I could place my head on my pillow every night, feeling somewhat protected and with my heart caressed by a feeling of hope and confidence. I owe that to you. I will always remember that. I will always remember that you had your giant share of misery because of this monster and took it upon yourself to fight if for all of us. I thank you for that, I always will.But the moment to say Good Bye has arrived, at least for me. I want no part of that action class, because I dont fit in it.You have always show concerned for me and for others. Please,do not worry about me, at least. The Lord, the Almighty Judge, the Uncompromised, The Just of Justs, is with me and with my Ocwen family. He will lead the way. Tribulations are endured whenever we need too. I wish you well, Sir, I wish you well.'God is God'Marlene from Miami.
Ocwens preditory lending practices used to ensnare unwitting borrowers
In 1998 we borrowed against the equity in our home for improvements and refinanced in 2000 to complete the project. Our loan is currently being serviced by Ocwen FSB. After two attempts to forclose against us, which we avoided by borrowing against our 401k plan, we are now faced with fees in excess of $1200. These fees are being charged by Litton Loan Servicing for foreclosure proceedings and were added to our payment schedule after Litton Loan Servicing, LLP transferred the loan to Ocwen FSB. We are unable to pay the fees and are currently making the monthly mortgage payments only on a simple interest loan. Because of the nature of our terms, greater than 70% of our monthly payments are applied to the interest only. After making payments since 2000 on the new loan, approximately 90% of our loan principle balance is still due. Since I had been told by Ocwen service representatives that the fees charged are perfectly legal, I am alarmed to see a class action suit has been filed for aggressive lending practices. It is also alarming to know that Ocwen's goal appears to be possession of the home rather than servicing of the loans.We have been grossly misled by all those involved in the lending process with regard to our loan. We are left with few options and are considering putting our home on the market in an attempt to gain some relief from a loan with terms impossible for us to manage. It is my hope that this action against Ocwen will spark others like it to prevent homeowners like ourselves from being victimized.
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