From : http://hubpages.com/hub/CROOK_ALERT_6--FORECLOSURE_FACTORIES
THE PREDATORY TACTICS OF SOME MORTGAGE SERVICERS INCLUDING JP MORGAN CHASE ARE SQUEEZING HOMEOWNERS ACCORDING TO AN EXCELLENT BUSINESS WEEK ARTICLE BY MARA DER HAVANESIAN 12-25-06
Randy and Jennifer Rimstad of Minnetonka, Minn., refinanced their mortgage in 2004 to replace a 50-year-old furnace and pay for their youngest daughter's wedding. In May, their interest rate jumped to 8.55% from 5.5%, pushing their monthly payment from $1654 to $2295, and the Rimstads buckled under an adjustable rate mortgage they say they didn't understand and could ill afford. Then came the collection nightmare that tacked on another $700 or so in monthly payments.
On Dec. 5, OPTION ONE MORTGAGE CORP., a Kansas City (Mo.)-based unit of H&R BLOCK INC., foreclosed because the Rimstads owed more than $18,000 in late charges and attorney's fees, on top of their past-due payments. After 24 years under the same roof, the Rimstads face an uncertain future. "I don't know what will happen to us," says Randy, 57. "We don't have any place to go." Option One says it can't comment on the specific amount owed, but that it has been working with the Rimstads and will continue to "explore options toward a solution."
Millions of other families in the U.S. could soon find themselves in the same dire straits. some $1.2 billion in adjustable mortgages will shift to higher rates in 2006 and 2007, more than half of which are to borrowers with less-than-perfect credit, or subprime borrowers, like the Rimstads. these loans already are defaulting at unprecedented rates. Lenders are in large part responsible because they sold risky and unsuitable mortages to unsophisticated borrowers, In some cases, of course, careless borrowers shoulder some of the blame. But some say there's another force at work: agressive servicing tactics, "predatory servicing has attracted little attention, yet in many respects it is more vicious and the adverse consequences are more far-reaching," says Jack M. Guttentag, professor of finance emeritus at the University of Pennsylvania's Wharton School.
Mortgage Servicers collect and record monthly payments as well as manage insurance and tax payments on some $10 trillion in mortgage debt outstanding. lthey also manage defaults and collections when loans go bad. Critics of the industry, such as Rawle Andrews Jr., a bankruptcy attorney with Andrews & Bowe in Washington, call them "foreclosure factories."
Servicer abuse is not new. Still, regulators had hoped the industry would have cleaned up its act since 2003 when the Federal Trade Commission and the Housing and Urban Development Dept. slapped a record $40 million fine on FAIRBANKS CAPITAL CORP. in one of the worst cases of predatory servicing, which involved many of its 500,000 customers. Says Kurt Eggert, a professor at Chapman University School of Law in Orange, Calif.: "The FTC hoped by nailing FAIRBANKS it would send a message to the whole industry. It hasn't yet."
SOFTWARE GLITCHES
Any number of predatory practices from not crediting payments to prematurely intitiating foreclosure proceedings, can send struggling home buyers over the edge. "In the subprime market, it's a huge deal because they're already in a loan that is very expensive. If you live paycheck to paycheck, the penalties of delinquency sink you deeper," says Alfred Ripley, legal counsel for consumer and housing affairs at the North Carolina Justice Center in Raleigh, a non-profit that helps low-income families statewide.
Ivy Jackson, a director at the Housing & Urban Development Dept., is bracing for a lot more consumer complaints. "the speculation is the servicers don't have enough people to handle the volumes. "We're hearing that they're not set up to service [exotic] loans. "
Bureaucratic snafus and software glitches are no small problem in the servicing industry. Huge errors stem from the massive turnover of ownership alone. Servicing rights for any individual mortgage are valued separately from the actual loan and are often sold repeatedly by banks and third-party servicers, without customers having a clue or a choice.
Still, there is no rule that says the old servicer must transfer the entire record to the new servicer. Often borrowers aren't informed of a change, and they use their original payment coupon book and send checks to the old address. The checks usually get sent back to the borrower while the new servicer chalks it up as a late payment, deducts a penalty from the mortgage, and marks it as underpaid. After a few months of this, the loan is recorded as delinquent. But the customer may not know anything is wrong because servicers aren't required to to send a statement, and if they do, it is often incomplete. A foreclosure notice can be the first indication of any trouble. One HUD investigator says in a recent case a borrower faced foreclosure because 19 mortgage payments were missing. "The servicer found all 19 payments in what we call 'a miracle' because we got involved," says the investigator.
A TERRIBLE ABUSE
Others aren't so lucky. consumer lawyers say the system preys on the ignorance of borrowers and creates an opportunity to add false fees and charges not authorized by law or their mortgage contract. "The subprime servicer has found the perfect class of people with spotty credit records who are less likely than others generally to stand up for themselves," says attorney Robert C. Hilliard, a partner with Hilliard & Munoz in Corpus Christi, Tex. "And they are relentless about scaring the living daylights out of these people."
Hilliard has brought four cases against West Palm Beach-based OCWEN FINANCIAL CORP., which, with a $50 billion portfolio, is among the 10 largest subprime servicers. (Two were successful, one was dismissed, and a fourth is in early stages.) In one case, a galveston County jury in Texas awarded Sealy Davis, a widowed grandmother who was a nurse's aide at a children's hospital, $11.5 million after finding that Ocwen committed fraud in servicing her home-equity loan. OCWEN'S general counsel, Paul Koches, says an offer to cancel the entire debt and permit Davis to keep her home was rejected early on. "They were bent on a litigation strategy to play the jury sympathy card against a deep-pocket defendant," he says. The case is on appeal.
Paying on time isn't enough to protect customers from some wily servicers. A servicer might even pocket an extra payment and never credit it to a borrower."I have audited loans where the connsumer has made all payments on a timely basis and yet the servicing company manufactured a default and, in some cases, completed a foreclosure," says Marie Mcdonell, an Orleans, Mass-based mortgage finance analyst who specializes in the auditing of mortgage loans.
For borrowers with financial woes, the servicing maze is the most difficult to navigate. Fifty-seven-year-old Lynda Allen, who makes $51,000 a year, says her monthly paychecks were erratic in 2002, and she fell behind. when she tried to come clean and make good with Houston's LITTON LOAN SERVICING, she says the company billed her $33,000, including penalites, to cover four monthly mortgage payments that would have totaled $13,000 otherwise. She still pays Litton, but filed personal bankruptcy four years ago to protect the home she has lived in for the last 13 years. she fears "they'll take my home" when she emerges from bankruptcy.
LITTON says it won't comment on specific loans because of privacy issues. But given the surge in defaults, the pressure is high to keep people in their homes, says Larry B. Litton, chief executive of LITTON LOAN SERVICING which services loans worth $60 billion. "We are trying to lower credit losses. The last thing we want to do is raise the bar and make it more expensive for borrowers to stay in their homes." Litton says the company can lose up to 50c on the dollar if loans go bad and is willing to renegotiate interest rates and waive fees. "If a customer is really motivated to keep their home, nine times out of 10 we can help that borrower stay in their home," he says.
Not all players are so generous. McDonnell says when a consumer runs into some trouble causing him or her to be late for just one payment, the default rules written into the servicer's software appear to drive the loan mercilessly toward foreclosure. "It's as if there is zero tolerance for a delinquency, so that a payment made past the grace period is recognized as a default. At that point, payments are refused," sahe says. McDonnell is fighting to recind the Rimstads' loan under alleged violationjs of the Truth in Lending Act.
Servicers have also been known to tack on charges for insurance that isn't required or that the homeowner already has. The customer remains oblivious because he doesn't get a statement. then when the mortgage payment isn't enough to cover the new policy, the entire mortgage payment gets placed in a so-called suspense account. The servicer then reports the borrower as delinquent and charges a late fee. Says Guttentag: "They should record the payment and record a deficiency in the escrow account, which they are entitled to do. But to make the payment late because they put it in the escrow account is in my view a terrible abuse."
Such may have been the case with Vanessa Gholson of Dinwiddie, Va. Her attorney, Dale Pittman, says 98 different people at CHASE HOME FINANCE tried to sort out why CHASE bought flood insurance for Gholson unbeknownst to her, and then marked her delinquent and charged her late fees when her regular mortgage payment wasn't enough to cover the new policy as well. Eventually CHASE, a unit of JP MORGAN CHASE & COMPANY, refused her mortgage payments because it wanted her to pay the delinquent amounts. Next, it hired a law firm to pursue foreclosure. a CHASE spokesman says the bank purchased Gholson's mortgage from another lender, and the contract indicated that she needed flood insurance, Gholson says she lives nowhere near a flood plain. After 21/2 years of fighting, CHASE settled with Gholson in December for $25,000, including legal fees. Says Gholson, 43, who works three jobs to pay $721 a month for her $86,000 4-bedroom house: I work too hard to let them take my house from me."
Critics argue the fundamental business dynamics of servicing inspire wrongdoing. First, consumers have not choice about who ends up as their servicer, so market forces don't push servicedrs to compete on qauality. Also, while some banks hold servicing rights along with loans, others are sold to third-party servicers who don't have the same incentive to maintain a good relationship in order to sell such other products as a checking account or investments. Says North Carolina attorney Ripley: "It's a fixed return for that buyer, so if they want the asset to perform, they have an incentive to generate as much fee income off of each loan as possible."
Monday, December 10, 2007
Ocwen - These BASTARDS Have Screwed with the WRONG Schlamozzel!
From: http://www.epinions.com/content_108449861252
ProsAbsolutely without a question there are NONE!
ConsVisious, recalcitrant, monitarily disemboweling bunch of armpit fuzz!
The Bottom LineIf you are looking for a "fast track" to a HEART ATTACK deal with this financial institution. Otherwise, RUN FOR YOUR LIFE!
Full Review Hi there,
Schlamozzel here with another "SLUMLORD" nightmare to discuss. What happens when your mortgage gets "sold off" to another service company.
Ocwen Federal Bank
This financial institution is located in Florida. They are a subsidiary of a large financial services corporation, which I consider to be "The Borg" of finance.
My problems began literally the month this company took over servicing a loan I have on an investment property. They failed to properly depict the true and accurate amount of funds held in my escrow account. (This is an account that holds funds for distribution to cities / towns for property taxes, insurance etc.) Upon contacting them at 1 800 74OCWEN you are immediately placed into an automated calling cue where you MUST enter a lot of "numerical" personal information to continue. After doing this the wait is usually between 7 to 25 minutes before the call forwards to something that breaths. When you actually get to a "human being", you must repeat all the same personal information all over again.
Shortly after this occurred, I received a letter with a check in the mail, "We have done an escrow analysis. Based upon our findings, please find enclosed a check in the amount of $1,322.71. This money was overpaid by you."
I call Ocwen Federal Bank's "Marquise deSade" line at 1 800 74OCWEN again, "Why in hell are you sending this money to me? It should have gone to pay my property tax bill!"
"Oh we don't hold escrows for taxes on your account sir."
"Oh yes you do."
"Sir, WE DON'T hold escrows on your property taxes. This is your money, feel free to spend it as you wish."
"Look sweetheart, see on my account how much I'm paying every month?"
"Yes sir..."
"Good! now, if I'm REQUIRED my my loan instrument to pay that amount, and you DON'T hold escrows for taxes, and I HAVE BEEN paying this loan for 2 years, then my PRINCIPAL balance should be much lower, shouldn't it? Well since it isn't and you claim you don't hold escrows for taxes I'd likje you to twll me where the money is. Oh and by the way, since you don't hold escrow money for my tax bill, why does it say that I paid funds to establish the escrow account on the ORIGINAL LOAN DOCUMENTS I signed two years ago?"
"You don't have those documents sir."
(At that very moment, when such an idiotic remark was made I tore my shirt off of my body and could feel the veins in my forehead bounding out of my skin to resemble a topographical map of the Himilayas.)
"Give me your fax number."
"What do you mean..."
"Give me YOUR GODDAMNED FAX NUMBER NOW!
"Sir theres no need for you to speak to me in that manner and (blah blah blah) I don't see the need for you to fax anything..."
"I'm going to send you all the original loan documents you just said I don't have."
After 5 repeat calls the problem was resolved. Or so I thought...
5 months later I got another check with another letter...
This time I wind up going through 3 days of repeated calls to escrow department specialists, managers, supervisors and had to threaten legal action before resolution occurred.
Currently...
Schlamozzel has had enough. Schlamozzel has encountered a very difficult situation with this "bank" recently that has cost nearly $6,400.00 to resolve. Yes, it was Schlamozzel's error that caused the problem. But the problem was resolved according to all the papers from Ocwen Federal Bank's attorneys and Schlamozzel's attorneys.
Schlamozzel received a letter from Ocwen Federal Bank 5 days ago informing him that he owes this "bank" almost $2,600.00. This time Schlamozzel's attorney is bringing the matter to the Massachusetts Commissioner of Banks and Office of the Attorney General.
I will update as soon as more information is available.
Cheers,
Schlamozzel
ProsAbsolutely without a question there are NONE!
ConsVisious, recalcitrant, monitarily disemboweling bunch of armpit fuzz!
The Bottom LineIf you are looking for a "fast track" to a HEART ATTACK deal with this financial institution. Otherwise, RUN FOR YOUR LIFE!
Full Review Hi there,
Schlamozzel here with another "SLUMLORD" nightmare to discuss. What happens when your mortgage gets "sold off" to another service company.
Ocwen Federal Bank
This financial institution is located in Florida. They are a subsidiary of a large financial services corporation, which I consider to be "The Borg" of finance.
My problems began literally the month this company took over servicing a loan I have on an investment property. They failed to properly depict the true and accurate amount of funds held in my escrow account. (This is an account that holds funds for distribution to cities / towns for property taxes, insurance etc.) Upon contacting them at 1 800 74OCWEN you are immediately placed into an automated calling cue where you MUST enter a lot of "numerical" personal information to continue. After doing this the wait is usually between 7 to 25 minutes before the call forwards to something that breaths. When you actually get to a "human being", you must repeat all the same personal information all over again.
Shortly after this occurred, I received a letter with a check in the mail, "We have done an escrow analysis. Based upon our findings, please find enclosed a check in the amount of $1,322.71. This money was overpaid by you."
I call Ocwen Federal Bank's "Marquise deSade" line at 1 800 74OCWEN again, "Why in hell are you sending this money to me? It should have gone to pay my property tax bill!"
"Oh we don't hold escrows for taxes on your account sir."
"Oh yes you do."
"Sir, WE DON'T hold escrows on your property taxes. This is your money, feel free to spend it as you wish."
"Look sweetheart, see on my account how much I'm paying every month?"
"Yes sir..."
"Good! now, if I'm REQUIRED my my loan instrument to pay that amount, and you DON'T hold escrows for taxes, and I HAVE BEEN paying this loan for 2 years, then my PRINCIPAL balance should be much lower, shouldn't it? Well since it isn't and you claim you don't hold escrows for taxes I'd likje you to twll me where the money is. Oh and by the way, since you don't hold escrow money for my tax bill, why does it say that I paid funds to establish the escrow account on the ORIGINAL LOAN DOCUMENTS I signed two years ago?"
"You don't have those documents sir."
(At that very moment, when such an idiotic remark was made I tore my shirt off of my body and could feel the veins in my forehead bounding out of my skin to resemble a topographical map of the Himilayas.)
"Give me your fax number."
"What do you mean..."
"Give me YOUR GODDAMNED FAX NUMBER NOW!
"Sir theres no need for you to speak to me in that manner and (blah blah blah) I don't see the need for you to fax anything..."
"I'm going to send you all the original loan documents you just said I don't have."
After 5 repeat calls the problem was resolved. Or so I thought...
5 months later I got another check with another letter...
This time I wind up going through 3 days of repeated calls to escrow department specialists, managers, supervisors and had to threaten legal action before resolution occurred.
Currently...
Schlamozzel has had enough. Schlamozzel has encountered a very difficult situation with this "bank" recently that has cost nearly $6,400.00 to resolve. Yes, it was Schlamozzel's error that caused the problem. But the problem was resolved according to all the papers from Ocwen Federal Bank's attorneys and Schlamozzel's attorneys.
Schlamozzel received a letter from Ocwen Federal Bank 5 days ago informing him that he owes this "bank" almost $2,600.00. This time Schlamozzel's attorney is bringing the matter to the Massachusetts Commissioner of Banks and Office of the Attorney General.
I will update as soon as more information is available.
Cheers,
Schlamozzel
Texas jury rules against Ocwen for $11.5 million
From: http://southflorida.bizjournals.com/southflorida/stories/2005/11/28/daily20.html
Wednesday, November 30, 2005
A jury in Galveston, Texas, has awarded $11.5 million to a customer of Ocwen Financial Corp. and its former Ocwen Federal Bank subsidiary, after determining they committed fraud in servicing her home equity loan.
The verdict against West Palm Beach-based Ocwen Financial (NYSE: OCN) and Ocwen Federal was issued Tuesday in Texas's 212th District Court. The jury ordered the Ocwen companies to pay Sealy Davis $10 million in actual damages and about $1.5 million for mental anguish and economic damages.
Ocwen Financial had $1.3 billion in assets on Sept. 30, according to its Securities and Exchange Commission filings.
The jury found the Ocwen companies made fraudulent, deceptive and misleading representations to Davis after she missed a loan payment while hospitalized in 2003.
Documents filed in the civil suit assert Ocwen began demanding additional money to make up for the missed payment and then began foreclosure proceedings on Davis's home in Texas City, Texas.
Davis retained the home after filing for Chapter 13 bankruptcy protection, court documents state.
Davis, in 2002, got a $31,000 home equity loan from Aames Home Loan with Deutsche Bank as trustee. Ocwen Federal Bank serviced the loan, including collecting payments.
The jury determined Ocwen contributed 100 percent to a wrongful foreclosure and none of that activity was attributable to the other defendants, Deutsche Bank, its law firm Baxter & Schwartz and several attorneys with that firm.
William Erbey, Ocwen's chairman and chief executive officer, and Kelly Herzik, a Wichita, Kan.-based attorney who represented Ocwen, did not return phone calls.
The Business Journal's questions included whether Ocwen might appeal the verdict to a Texas court of appeals.
Wednesday, November 30, 2005
A jury in Galveston, Texas, has awarded $11.5 million to a customer of Ocwen Financial Corp. and its former Ocwen Federal Bank subsidiary, after determining they committed fraud in servicing her home equity loan.
The verdict against West Palm Beach-based Ocwen Financial (NYSE: OCN) and Ocwen Federal was issued Tuesday in Texas's 212th District Court. The jury ordered the Ocwen companies to pay Sealy Davis $10 million in actual damages and about $1.5 million for mental anguish and economic damages.
Ocwen Financial had $1.3 billion in assets on Sept. 30, according to its Securities and Exchange Commission filings.
The jury found the Ocwen companies made fraudulent, deceptive and misleading representations to Davis after she missed a loan payment while hospitalized in 2003.
Documents filed in the civil suit assert Ocwen began demanding additional money to make up for the missed payment and then began foreclosure proceedings on Davis's home in Texas City, Texas.
Davis retained the home after filing for Chapter 13 bankruptcy protection, court documents state.
Davis, in 2002, got a $31,000 home equity loan from Aames Home Loan with Deutsche Bank as trustee. Ocwen Federal Bank serviced the loan, including collecting payments.
The jury determined Ocwen contributed 100 percent to a wrongful foreclosure and none of that activity was attributable to the other defendants, Deutsche Bank, its law firm Baxter & Schwartz and several attorneys with that firm.
William Erbey, Ocwen's chairman and chief executive officer, and Kelly Herzik, a Wichita, Kan.-based attorney who represented Ocwen, did not return phone calls.
The Business Journal's questions included whether Ocwen might appeal the verdict to a Texas court of appeals.
Sunday, December 9, 2007
Mortgage Nightmares Come True Consumer Alert: You Can Pay Your Mortgage And Still Lose Home
From http://www.cbsnews.com/stories/2003/11/28/eveningnews/main585953.shtml
(CBS) Jo Scheck's American dream -- her own home -- was lost when the mortgage payments for her Bel Air, Md., townhouse skyrocketed. "You get this letter April 3, 2000, telling you that your mortgage payments have been increased by $400 a month?" asked CBS News Correspondent Randall Pinkston. "Right," Scheck replied. For years, she'd paid $900 until her mortgage servicer, Ocwen Financial Corporation, said they hadn't collected enough for the escrow. Ocwen reduced the payments by $100, but not enough for Scheck, who was forced into foreclosure. "This is a mistake that they admitted making. They said, you know, sometimes things like this fall thru the cracks," she said. In Hartford, Conn., Kweku Hanson claims Ocwen tacked on homeowner insurance he didn't need, and never credited the thousands in extra payments he'd made on his loan. "The money went to Ocwen, that's all I know," Hanson said. "How much do you think you've lost?" asked Pinkston. "I would say at least $8,000," Hanson answered. Hanson has filed a lawsuit against Ocwen alleging unfair consumer practices. Ocwen calls his charges baseless. Hanson and Scheck are among hundreds of homeowners who have complained about Ocwen's mortgage servicing practices -- complaints that include misapplied payments, bogus late fees, and erroneous threats of foreclosure. "We've seen many consumers who have proof of their mortgage payments but nonetheless are receiving harassing phone calls, default notices and legal complaints leading to foreclosure, inappropriately," said David Berenbaum, National Consumer Reinvestment Coalition.. In a statement to CBS News, Ocwen says they "resolve delinquencies in eight out of ten cases..." that there's "no financial benefit to Ocwen in foreclosing..." Ocwen says they are "closely monitored by federal regulators." In 2000, the U. S. Department of Housing and Urban Development determined that Ocwen had violated rules and regulations on loans Ocwen serviced for HUD. Ocwen agreed to pay $50,000 of HUD's costs to settle the accusations. "There's a real need, I'll add, for better policy and regulation of our mortgage industry especially in the sub-prime marketplace," Berenbaum said. At the least, Jo Scheck wants an apology for her foreclosure -- one she believes should never have happened.
(CBS) Jo Scheck's American dream -- her own home -- was lost when the mortgage payments for her Bel Air, Md., townhouse skyrocketed. "You get this letter April 3, 2000, telling you that your mortgage payments have been increased by $400 a month?" asked CBS News Correspondent Randall Pinkston. "Right," Scheck replied. For years, she'd paid $900 until her mortgage servicer, Ocwen Financial Corporation, said they hadn't collected enough for the escrow. Ocwen reduced the payments by $100, but not enough for Scheck, who was forced into foreclosure. "This is a mistake that they admitted making. They said, you know, sometimes things like this fall thru the cracks," she said. In Hartford, Conn., Kweku Hanson claims Ocwen tacked on homeowner insurance he didn't need, and never credited the thousands in extra payments he'd made on his loan. "The money went to Ocwen, that's all I know," Hanson said. "How much do you think you've lost?" asked Pinkston. "I would say at least $8,000," Hanson answered. Hanson has filed a lawsuit against Ocwen alleging unfair consumer practices. Ocwen calls his charges baseless. Hanson and Scheck are among hundreds of homeowners who have complained about Ocwen's mortgage servicing practices -- complaints that include misapplied payments, bogus late fees, and erroneous threats of foreclosure. "We've seen many consumers who have proof of their mortgage payments but nonetheless are receiving harassing phone calls, default notices and legal complaints leading to foreclosure, inappropriately," said David Berenbaum, National Consumer Reinvestment Coalition.. In a statement to CBS News, Ocwen says they "resolve delinquencies in eight out of ten cases..." that there's "no financial benefit to Ocwen in foreclosing..." Ocwen says they are "closely monitored by federal regulators." In 2000, the U. S. Department of Housing and Urban Development determined that Ocwen had violated rules and regulations on loans Ocwen serviced for HUD. Ocwen agreed to pay $50,000 of HUD's costs to settle the accusations. "There's a real need, I'll add, for better policy and regulation of our mortgage industry especially in the sub-prime marketplace," Berenbaum said. At the least, Jo Scheck wants an apology for her foreclosure -- one she believes should never have happened.
Ocwen, Leaves another victum West Palm Beach Florida
Ocwen
Phone: Fax:
ocwen.comWest Palm Beach, Florida, U.S.A.
Submitted: 12/4/2007 7:05:42 PMModified: 12/4/2007 7:06:00 PM
Biglizard38clintonville, Wisconsin
I too was burnt by ocwen I am disabled and got behind when My disability was messed up with social security to make a long story short ocwen offered to redo the load and sent in their own apraiser who apraised it for half the original apraisal.I was then contacted by ocwen and told they refuse to redo the loan and either to pay up or get out I had no choice but to get outI had no one to turn to for help and am discusted with ocwens treatment of customers
Biglizard38
clintonville, WisconsinU.S.A.
Phone: Fax:
ocwen.comWest Palm Beach, Florida, U.S.A.
Submitted: 12/4/2007 7:05:42 PMModified: 12/4/2007 7:06:00 PM
Biglizard38clintonville, Wisconsin
I too was burnt by ocwen I am disabled and got behind when My disability was messed up with social security to make a long story short ocwen offered to redo the load and sent in their own apraiser who apraised it for half the original apraisal.I was then contacted by ocwen and told they refuse to redo the loan and either to pay up or get out I had no choice but to get outI had no one to turn to for help and am discusted with ocwens treatment of customers
Biglizard38
clintonville, WisconsinU.S.A.
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,YES ANOTHER ONE
Posted by KELVIN DE JULIO on August 02, 2005 at 19:08:49:
I WON'T MAKE THIS TOO LONG AND DRAWN OUT. I DID A REFY IN JAN.01 WITH BNC MORTGAGE HERE IN DENVER(THE PROPERTY IS IN MONTROSE,COLORADO.MONTROSE COUNTY) THEY IN TURN SOLD IT TO OPTIONS ONE IN CALIFORNIA,THEY IN TURN SOLD IT TO OCWEN. FEB-AUGUST 0 1PAYMENTS WENT TO OPTIONS ONE. FIRST PAYMENT WENT TO OCWEN IN SEPTEMBER 01.RECEIVED A LETTER FROM OCWEN(STILL HAVE) STATING THAT THEY WERE,OCWEN,GOING TO APPLY THE MONEY FROM ESCROW FROM OPTIONS ONE TO MY NOVEMBER PAYMENT.GREAT I THOUGHT,SENT IN OCTOBER PAYMENT THEN DECEMBER PAYMENT THEN RECEIVED MONTHLTY BILLING STATMENT FOR JANUARY AND IT WAS FOR $3091.87, MY MORTGAGE PAYMENT WAS $950.00 A MONTH. THIS ISN'T CORRECT. CALLED OCWEN GOT RECORDING AND NO RESPONSE FROM OCWEN.MAILED $950.00 PAYMENT.THEN RECEIVED FEB.02 STATEMENT,$3089.56.YOU GOT TO BE KIDDING. CALLED OCWEN AND LEFT MESSAGE. OF COURSE NO RESPONSE. WROTE LETTER SURPRISE! NO RESPONSE. SENT PAYMENT $950.00 FOR FEB 02 AND THEN WELLS FARGO MESSED UP AND FEB. CHECK BOUNCED(TRUSTEE ON MORTGAGE...WELLS FARGO BANK...SURPRISE) WROTE LETTER TO OCWEN AND TOLD THEM WHAT HAPPENED I LET ME KNOW WHAT LATE CHARGES ARE DUE. SURPRISE...NO RESPONSE. APRIL STATEMENT COMES FOR $3089.66. SENT IN TWO SEPERATE CHECKS FOR $950.00 EACH...SURPRISE ONE CHECK RETURNED TO ME WITH A CURE DEFAULT LETTER. CALLED OCWEN AND LEFT MESSAGE.. SURPRISE NO RESPONES SAME WITH LETTERS SENT TO OCWEN. NO USE SENDING PAYMENTS IN WHEN THEY ARE SENT BACK. GOT FIRST LETTER FROM OCWEN, BELINDA ITSON. OCWEN HAD RECEIVED FIVE PAYMENTS EACH $950.00 BUT I AM PAST DUE OF $3089.66 AND THEY HAVE HAD MY MORTGAGE SINCE SEPTEMBER 2001.THEN ON SEPTEMBER 12, 2001 OCWEN HAD APPLIED A PAYMENT OF $2369.65 TO MY ACCOUNT,PROBLEM THAT WAS SOMEONE ELSES PAYMENT THAT WAS APPLIED TO MY LOAN. ANY FURTHER PROBLEMS WILL BE HANDLED BY DEREK DALLAS. HIS RESPONSE TO MY LETTERS,NOTHING. NOW OCWEN IS APPLING FOR A RULE 120 MOTION HEARING FOR FORECLOSUER. I HAVE NO IDEA WHY. ATTORNEY DAVID SHORES WON'T TALK WITH ME.HE WON'T RETURN MY ATTORNEYS PHONE CALLS. WE GO TO COURT JULY,30 2002. THEY PUT PUBLIC NOTICE IN MONTROSE PAPER. MY MOTHER CALLS CRYING AND UPSET BECAUSE SHE HAS NO IDEA WHATS GOING ON. NEITHER DO I. GO TO COURT,JUDGE POSTPONES RULE 120 MOTION SO I COULD SHOW JUST CAUSE. GO BACH TO COURT AUGUST 2002. DAVID BELL OCWENS ATTORNEY TELLS THE JUDGE THEY ARE TRYING TO FORECLOSE FOR NON-PAYMENT IN NOVEMBER 2001. I PULL OUT LETTER FROM OCWEN ABOUT ESCROWS, ATTORNEYS MOUTH DROPS TO FLOOR. HE AND A REPRESENTIVE FROM OCWEN ADMITTS IT IS THERE FAULT. TELLS JUDGE WE CAN AGREE ON A SETTLEMENT.(BUT ONLY ON THERE TERMS) SO SINCE 2002 OCWEN HAS USED THREE DIFFERENT LAW FIRMS AND ALL ENDS UP THE SAME WAY. NO SETTLEMENT AGREEMNET NO MORTGAGE PAYMENTS RELEASE. WE GO BACK TO COURT FOR ANOTHER RULE 120 MOTION HEARING IN MAY 2005. WILL POSTPONE UNTIL AUGUST AGREEING I CAN SELL HOME. GET THREE CONTRACTS ON HOME IN TWO DAYS.TAKES OCWEN MORE THAN THREE WEEKS TO GET ME PAY OFF. OCWEN AGREES TO WAVE ALL FEES. THEN WHEN OCWEN FINES OUT MUCH I WILL GET OUT OF HOSU NOW THEY WANT ALL THE PROFITS OFF HOUSE. SO NOW WE GO BACK TO COURT AUGUST 4,2005. IF THEY LOSS IN COURT AGAIN THEY WILL JUST APPEAL TO HIGHER COURT. I NEED TO SEE IF SOMEONE IN COLORADO IS IN THE SAME BOAT WITH OCWEN AS I AM. IS THERE AN ATTORNEY,REALESTATE, THAT WE CAN TALK WITH ABOUT A CIVIL LAWSUIT OR CLASS ACTION LAWSUIT AGINIST OCWEN. THIS CAN'T KEEP GOING ON. SOMEONE PLEASE HELP.
I WON'T MAKE THIS TOO LONG AND DRAWN OUT. I DID A REFY IN JAN.01 WITH BNC MORTGAGE HERE IN DENVER(THE PROPERTY IS IN MONTROSE,COLORADO.MONTROSE COUNTY) THEY IN TURN SOLD IT TO OPTIONS ONE IN CALIFORNIA,THEY IN TURN SOLD IT TO OCWEN. FEB-AUGUST 0 1PAYMENTS WENT TO OPTIONS ONE. FIRST PAYMENT WENT TO OCWEN IN SEPTEMBER 01.RECEIVED A LETTER FROM OCWEN(STILL HAVE) STATING THAT THEY WERE,OCWEN,GOING TO APPLY THE MONEY FROM ESCROW FROM OPTIONS ONE TO MY NOVEMBER PAYMENT.GREAT I THOUGHT,SENT IN OCTOBER PAYMENT THEN DECEMBER PAYMENT THEN RECEIVED MONTHLTY BILLING STATMENT FOR JANUARY AND IT WAS FOR $3091.87, MY MORTGAGE PAYMENT WAS $950.00 A MONTH. THIS ISN'T CORRECT. CALLED OCWEN GOT RECORDING AND NO RESPONSE FROM OCWEN.MAILED $950.00 PAYMENT.THEN RECEIVED FEB.02 STATEMENT,$3089.56.YOU GOT TO BE KIDDING. CALLED OCWEN AND LEFT MESSAGE. OF COURSE NO RESPONSE. WROTE LETTER SURPRISE! NO RESPONSE. SENT PAYMENT $950.00 FOR FEB 02 AND THEN WELLS FARGO MESSED UP AND FEB. CHECK BOUNCED(TRUSTEE ON MORTGAGE...WELLS FARGO BANK...SURPRISE) WROTE LETTER TO OCWEN AND TOLD THEM WHAT HAPPENED I LET ME KNOW WHAT LATE CHARGES ARE DUE. SURPRISE...NO RESPONSE. APRIL STATEMENT COMES FOR $3089.66. SENT IN TWO SEPERATE CHECKS FOR $950.00 EACH...SURPRISE ONE CHECK RETURNED TO ME WITH A CURE DEFAULT LETTER. CALLED OCWEN AND LEFT MESSAGE.. SURPRISE NO RESPONES SAME WITH LETTERS SENT TO OCWEN. NO USE SENDING PAYMENTS IN WHEN THEY ARE SENT BACK. GOT FIRST LETTER FROM OCWEN, BELINDA ITSON. OCWEN HAD RECEIVED FIVE PAYMENTS EACH $950.00 BUT I AM PAST DUE OF $3089.66 AND THEY HAVE HAD MY MORTGAGE SINCE SEPTEMBER 2001.THEN ON SEPTEMBER 12, 2001 OCWEN HAD APPLIED A PAYMENT OF $2369.65 TO MY ACCOUNT,PROBLEM THAT WAS SOMEONE ELSES PAYMENT THAT WAS APPLIED TO MY LOAN. ANY FURTHER PROBLEMS WILL BE HANDLED BY DEREK DALLAS. HIS RESPONSE TO MY LETTERS,NOTHING. NOW OCWEN IS APPLING FOR A RULE 120 MOTION HEARING FOR FORECLOSUER. I HAVE NO IDEA WHY. ATTORNEY DAVID SHORES WON'T TALK WITH ME.HE WON'T RETURN MY ATTORNEYS PHONE CALLS. WE GO TO COURT JULY,30 2002. THEY PUT PUBLIC NOTICE IN MONTROSE PAPER. MY MOTHER CALLS CRYING AND UPSET BECAUSE SHE HAS NO IDEA WHATS GOING ON. NEITHER DO I. GO TO COURT,JUDGE POSTPONES RULE 120 MOTION SO I COULD SHOW JUST CAUSE. GO BACH TO COURT AUGUST 2002. DAVID BELL OCWENS ATTORNEY TELLS THE JUDGE THEY ARE TRYING TO FORECLOSE FOR NON-PAYMENT IN NOVEMBER 2001. I PULL OUT LETTER FROM OCWEN ABOUT ESCROWS, ATTORNEYS MOUTH DROPS TO FLOOR. HE AND A REPRESENTIVE FROM OCWEN ADMITTS IT IS THERE FAULT. TELLS JUDGE WE CAN AGREE ON A SETTLEMENT.(BUT ONLY ON THERE TERMS) SO SINCE 2002 OCWEN HAS USED THREE DIFFERENT LAW FIRMS AND ALL ENDS UP THE SAME WAY. NO SETTLEMENT AGREEMNET NO MORTGAGE PAYMENTS RELEASE. WE GO BACK TO COURT FOR ANOTHER RULE 120 MOTION HEARING IN MAY 2005. WILL POSTPONE UNTIL AUGUST AGREEING I CAN SELL HOME. GET THREE CONTRACTS ON HOME IN TWO DAYS.TAKES OCWEN MORE THAN THREE WEEKS TO GET ME PAY OFF. OCWEN AGREES TO WAVE ALL FEES. THEN WHEN OCWEN FINES OUT MUCH I WILL GET OUT OF HOSU NOW THEY WANT ALL THE PROFITS OFF HOUSE. SO NOW WE GO BACK TO COURT AUGUST 4,2005. IF THEY LOSS IN COURT AGAIN THEY WILL JUST APPEAL TO HIGHER COURT. I NEED TO SEE IF SOMEONE IN COLORADO IS IN THE SAME BOAT WITH OCWEN AS I AM. IS THERE AN ATTORNEY,REALESTATE, THAT WE CAN TALK WITH ABOUT A CIVIL LAWSUIT OR CLASS ACTION LAWSUIT AGINIST OCWEN. THIS CAN'T KEEP GOING ON. SOMEONE PLEASE HELP.
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.
They love to take your home and resale it
I was a Real Estate agent here in Maine and use to do BPO's for Ocwen. Their is one that sticks in my head is one in Sangerville,Maine when they almost had us selling the wrong house. They was so much in a rush to sell it that they didn't take time to really find out which house belong to them.I never even recieved my money for doing the BPO's for them which is close to 500.00 for doing five of them plus we would place it on the market as well.
Don't do Business with Ocwen!
I don't how they can still in Business. The service from Ocwen is awful. They want to charge for any thing. They act like a predator who wants to strangle someone litterally. It is an bad experience, a nightmare. DON'T DO BUSINESS WITH THAT BANK! STAY AWAY OR WALK AWAY!
Ocwen is Bad News
We like our home and we don’t want to move, but they don’t care and they are heart less lender. We asked to temporary reduce our interest rate or to drop the prepay penalty, so we can refinance to get a better affordable payment. They would not do it. They just sent us paperwork to discount the sale of our home. This OCWEN is bad news. I will ensure any future homes will not be managed by OCWEN. I will make sure that it is in my contract that my loan cannot be sold to OCWEN or managed by them in the future in any way.
Ocwen Bank What is Wrong!?
I want to know why they will refuse to subordinate my second so I can keep my home and continue to make my payments to Owen never been late and my first is on a adjustable that increases 2008 and this would be in their best interest why would they not do it and why is there no one to help I am going to CNN on this if I can help one person I will and then they take a loan loss what is wrong with this picture?
Ocwen I Will Never go through this Company for Anything.
I have been trying for over a week to get back in contact with the Loan Rep I spoke with last week and spilled out my entire life story to. However, he conveniently does not have his extension in the computer system therefore no one knows how to get a hold of him other than "I can send him an email and have him call you". Of course that's what I think the guy said since no one speaks clear English. I also set up an appointment for someone to call me on Monday at 11:00 and gave the specific phone number. No one called. I then called them and spoke to Ron he told me he would call back on Tuesday and I have never spoke to him since. I have called every day and I have been on hold this week alone for a total of 3 hours. I have documented every last thing. I am about to go in foreclosure and it seems that no one cares unless you are going to make a payment. I will never go through this company for anything.
Ocwen Negative Stars!
Can I give negative stars? I have never dealt with a company that is this bad. We have had nothing but problems with them. My brother in law works with a real estate/bankruptcy attorney and when I called to ask him what he knew about Ocwen - he started to laugh and said they were on their bad list as one of the worst lenders to deal with and they would never recommend them. When you are talking to them on the phone to straighten out the numerous problems - their phones mysteriously disconnect. They kept screwing up our escrow and they said we didn't have insurance. We had sent them proof of insurance multiple times (and so had our insurance agent) and yet they still forced insurance on us so they could make money. When we asked for the payoff amount - they added tons of fees (a convenience fee? Convenience for whom?) and extra interest. Liz G.
Ocwen A Total Scam
I wondered why SusanYi was being so friendly and chatty. In a whole hour long conversation (which with other lenders takes about 10 minutes) she hemmed and hawed and tried to push their own "power buyer" agents, LYING to me telling me they have some secret access to listings I couldn't possibly have (an MLS listing is on virtually EVERY realtors listings website, there are no "secret" listings) and tried to push the interest only thing which I don't want for higher interest rate and a bunch of other garbage.
I'm no newbie, I've owned houses before so I immediately screeched to a halt when she, after an hour of chit chat mixed with lots of hard sell and very little info tried to bully me into giving her my credit card or bank account number so they could take a "deposit" of unspecified amount, for unspecified services to get a preapproval only (not even a real prequalification). NO ONE (no REPUTABLE lender) will EVER ask you for good faith money, EVER EVER EVER. Don't fall for it! Most really good ones won't even ask you for the $25 credit application fee until after they've done all the preliminary work and are ready to actually offer you something, and if they do, write them a check, do NOT give them your credit card or debit card information. This is a SCAM!
I'm no newbie, I've owned houses before so I immediately screeched to a halt when she, after an hour of chit chat mixed with lots of hard sell and very little info tried to bully me into giving her my credit card or bank account number so they could take a "deposit" of unspecified amount, for unspecified services to get a preapproval only (not even a real prequalification). NO ONE (no REPUTABLE lender) will EVER ask you for good faith money, EVER EVER EVER. Don't fall for it! Most really good ones won't even ask you for the $25 credit application fee until after they've done all the preliminary work and are ready to actually offer you something, and if they do, write them a check, do NOT give them your credit card or debit card information. This is a SCAM!
Ocwen: The Mortgage Mafia
I couldn't give them a zero . Two thumbs down is more like it. They are crooks and I have never seen any mortgage company act this way. If you don't have Insurance on your house they will put it on your house for $896.00 for a $ 60,000.00 House.
They will pay up your property taxes, and your one to two months behind and then charge late fees and offer you that great forbearance plan and don't even look for the lawyer fees and they charge you for the property search, who told them any ways they could do that? They stink! I don't want them as a mortgage co. I was sold to them by Ameriquest who also has a class action law suit against them. I say I hope they go under.
They will pay up your property taxes, and your one to two months behind and then charge late fees and offer you that great forbearance plan and don't even look for the lawyer fees and they charge you for the property search, who told them any ways they could do that? They stink! I don't want them as a mortgage co. I was sold to them by Ameriquest who also has a class action law suit against them. I say I hope they go under.
Ocwen Raped Us Financially
I have had OCWEN mortgage since November 2006. I have been in a nightmare with them every since. OCWEN signed us up with a company called Total Protect Home Service Plan without our authorization. This company has billed us for $455.40. OCWEN has also charged us a hazard insurance, which we did not authorize. When I send in payments, they hold the payment in a suspense account until my grace period has passed so I will be billed a late fee. They have threaten us with foreclosure several times. I cannot speak with anyone from that company that speaks clear english. We feel like OCWEN has raped us financially. If anyone hear the name OCWEN, scream FIRE and run like hell
Ocwen - No Stars
I spent an hour on the phone with some guy who barely could speak English and he was way rude. I pay more on my loan than required each month and Ocwen decided that this was not the agreement and sent my entire payment to principal only charged me a late fee (when I clearly paid on time if not early) and reported my loan late for the month. Took me having to stop being cordial on the phone to screaming before someone could address the problem and that took another hour. They are very abrasive and fee averse. I am so looking to refinance with another company and the first question is going to be where is your customer service center located. I never asked for them as it seems they bought loans from another company. I hate that. This is the worst company ever.
Ocwen A Rip Off
Ocwen is really a big rip off. I received notice fro GMAC that my homeowner loan was being sold. In the letter they stated I would be notified by the new company, and the way I have my mortgage set up nothing would change. When I come home from work I would have a message on my answer Machine call this 800 number with my account number, not saying who they were or what, this was happening 2 to 3 times a week. I don’t feel it is right that a company would call you, and not leave a name when something like this is a persons life investment.
Ocwen wiped out my bank account, I had mailed them a check & they stated they did not receive it, and demanded I give a check over the phone, unless there would be interest added. I gave them a check over phone, and on August 13 2007 both hit my bank account, Ocwen took every I came up short $250.00 on the payment. Lucky me I put a stop payment on the check I had mailed them, so they had to put the money back into my account.
After that customer service really didn’t listen, It is this and nothing else. And then have the nerve to ask if there is anything else they can do for you. Ocwen called my home 2 to 4 times a week leaving messages, I would get invoice from them 2 times a week, one invoice would say my mortgage is current, the next invoice the same week would show one month behind. I would call them and they would say disregard, then here comes another invoice stated delinquent. YOU ARE RIGHT YOU CANT UNDERSTAND THEM TALKING ON PHONE, CUSTOMER SERVICE REFUSE LETTING ME SPEAK WITH SUPERVISOR OR HIGHER UP. I Can't Give Them 1 Star I cannot even give Ocwen 1 star. Right now I am in bankruptcy due to their failure to post my payments on time and other “things” that happened. I too went into a forebearance agreement with Ocwen only after attempting to refinance my loan with them, of course, to no avail. They then tacked on $600.00 to my payment and then said they did not receive my payments. I was forced to file bankruptcy in order to keep my home and then after my rate adjusted to 9.9% from 6.9% (you do the math), they are trying to tack on an additional $600 to my new rate of $3400 bringing my total note to $3,950 roughly. I did not ask them to do this, I pay my own insurance and taxes and they are double paying. I do not plan to send them a cent over what I owe them. They are horrible people and nothing against Indians but their command of the English language is poor!! I hope Ocwen goes belly up soon and shuts their doors and the doors in India. Do not use this company!!!!!
Ocwen wiped out my bank account, I had mailed them a check & they stated they did not receive it, and demanded I give a check over the phone, unless there would be interest added. I gave them a check over phone, and on August 13 2007 both hit my bank account, Ocwen took every I came up short $250.00 on the payment. Lucky me I put a stop payment on the check I had mailed them, so they had to put the money back into my account.
After that customer service really didn’t listen, It is this and nothing else. And then have the nerve to ask if there is anything else they can do for you. Ocwen called my home 2 to 4 times a week leaving messages, I would get invoice from them 2 times a week, one invoice would say my mortgage is current, the next invoice the same week would show one month behind. I would call them and they would say disregard, then here comes another invoice stated delinquent. YOU ARE RIGHT YOU CANT UNDERSTAND THEM TALKING ON PHONE, CUSTOMER SERVICE REFUSE LETTING ME SPEAK WITH SUPERVISOR OR HIGHER UP. I Can't Give Them 1 Star I cannot even give Ocwen 1 star. Right now I am in bankruptcy due to their failure to post my payments on time and other “things” that happened. I too went into a forebearance agreement with Ocwen only after attempting to refinance my loan with them, of course, to no avail. They then tacked on $600.00 to my payment and then said they did not receive my payments. I was forced to file bankruptcy in order to keep my home and then after my rate adjusted to 9.9% from 6.9% (you do the math), they are trying to tack on an additional $600 to my new rate of $3400 bringing my total note to $3,950 roughly. I did not ask them to do this, I pay my own insurance and taxes and they are double paying. I do not plan to send them a cent over what I owe them. They are horrible people and nothing against Indians but their command of the English language is poor!! I hope Ocwen goes belly up soon and shuts their doors and the doors in India. Do not use this company!!!!!
Ocwen is The Worst
Of all the Mortgage Companies I have had in the last 15 years, this is definetely the worst. They cost me a very attractive and beneficial refinance with someone else, due to them not providing a payoff quickly and gettting it terribly wrong. I had to fight just to prove that my pre payment penalty was only a fraction than what they quoted me. You can't speak with the appropriate department and they care more about their processes than they do their customers. Criminals I could write you a book about OCWEN, they are the worst, total rip off artists. Right now however I am steaming because I just went to my mailbox. This is the crux, I just got divorced I got the house, my ex was paying the mortgage directly out of his account. He notified them 2 months in advance that, that would stop, to no longer take it out of his account that I would be sending the mortgage. I did exactly that, One month. so what do they do they also hit his checking account so he puts a stop payment on his account incase they do it again.
So the next month same thing I send payment and low and behold they hit his account AGAIN. he calls them because the account is now hit with a returned check charge. I just get a letter from them in the mail notifying me that WE are responsible for the return check charge. They are the biggest criminals on the face of this planet I cannot understand why they are still in business! Predatory Lender My two mortgages recently got purchased by Ocwen. I’ve only had them 4 months and I hate them already. They start calling on the 2nd of every month, 3-4 times a day on my cell phone to find out when I am going to pay my mortgage. It’s either someone from India or it’s a hang-up call. It’s ridiculous. I was doing the bi-weekly payment plan, but I stopped that because it was costing me a fortunate in fees and the payment wouldn’t get to Ocwen any earlier than if I mailed it myself. If you pay online, they charge $10. $10!!!!! What a rip off!!
My problem is that I’m stuck with them for 3 years or until someone else buys my mortgage because I have a 3 year pre-payment penalty. Arggghhhhh!
This company needs to be shut down. Period. They are at the top of the list for “Predatory Lender.
So the next month same thing I send payment and low and behold they hit his account AGAIN. he calls them because the account is now hit with a returned check charge. I just get a letter from them in the mail notifying me that WE are responsible for the return check charge. They are the biggest criminals on the face of this planet I cannot understand why they are still in business! Predatory Lender My two mortgages recently got purchased by Ocwen. I’ve only had them 4 months and I hate them already. They start calling on the 2nd of every month, 3-4 times a day on my cell phone to find out when I am going to pay my mortgage. It’s either someone from India or it’s a hang-up call. It’s ridiculous. I was doing the bi-weekly payment plan, but I stopped that because it was costing me a fortunate in fees and the payment wouldn’t get to Ocwen any earlier than if I mailed it myself. If you pay online, they charge $10. $10!!!!! What a rip off!!
My problem is that I’m stuck with them for 3 years or until someone else buys my mortgage because I have a 3 year pre-payment penalty. Arggghhhhh!
This company needs to be shut down. Period. They are at the top of the list for “Predatory Lender.
Ocwen Cheated Us
We have the VERY deep displeasure of having Ocwen for my Mortgage company. When you call them on the phone (in India) they do say “We have to inform you that we are a debt collecting agency and any information we collect can be used for that reason”. They do leave out that they will lie, commit fraud and cheat you to do so. Back in August of 2006 my wife had a bad car accident and for the first time in 3 years into our loan we fell a month behind on our Mortgage payment. We received a call from Ocwen (from India ) about our payment being late, we told the agent the problem and that we will get caught up as soon as possible. The agent then told my wife and I about a payment plan that will get us caught up…so called plan was a Forbearance plan. With my wife and I both listening to the agent (from India) on our speaker phone he told us, that if we add on $156.00 a month to our Mortgage payment we can be caught up in 9 months. I asked the agent once again on the phone, so if we pay a little extra each month that will catch us up, he said yes!
The agent was a liar, now that my Forbearance plan is over we are in the same spot we were before we started the Forbearance plan…WE ARE STILL ONE MONTH BEHIND.
The plan didn’t do anything for us, we were lied to , we were cheated and as far as I’m concerned Ocwen committed Fraud ! I tried to explain to the agent (in India) WHY would I get on a payment plan that would to me no good, your agent, 9 months ago lied to myself and my wife. They robbed me of our money, I guess I’m stuck BUT, I’m going to copy and paste my story on EVERY Ocwen Complaint web site I can find, I’m contacting the Attorney General of Missouri regarding the practices of Ocwen and The Better business Bureau of Missouri and Florida.
So, if you EVER have a choice, STAY AWAY FROM OCWEN !!!!!
PS. I’m am Soooo tired of talking to people that can hardly speak English (from India
The agent was a liar, now that my Forbearance plan is over we are in the same spot we were before we started the Forbearance plan…WE ARE STILL ONE MONTH BEHIND.
The plan didn’t do anything for us, we were lied to , we were cheated and as far as I’m concerned Ocwen committed Fraud ! I tried to explain to the agent (in India) WHY would I get on a payment plan that would to me no good, your agent, 9 months ago lied to myself and my wife. They robbed me of our money, I guess I’m stuck BUT, I’m going to copy and paste my story on EVERY Ocwen Complaint web site I can find, I’m contacting the Attorney General of Missouri regarding the practices of Ocwen and The Better business Bureau of Missouri and Florida.
So, if you EVER have a choice, STAY AWAY FROM OCWEN !!!!!
PS. I’m am Soooo tired of talking to people that can hardly speak English (from India
Ocwen I can't even give them a 1
On a scale of 1-5 with 1 being the worse.................... I can't even give them a 1
I’ve had a loan with Ocwen for 2 years, when I first received the loan they bombarded me with calls 3 – 4 a day with offers and pestering me as to when I would be paying my loan payment that wasn’t due for 30 days. The person who would contact me spoke horrible English. Now I’m not against people with accents and or working with US citizens but I feel they should have a grasp of the English language to the point I feel they understand me and that I don’t have to repeat myself over and over and over. I asked to be put on a “do not solicited” list and that ended the calls. I never received statements, never received any notices and the tax information I need for my taxes. I paid online using their own payment system that gave me the amount to be paid which I did. On the 25th payment which is when the fixed ended my payment was not processed claiming I had entered the wrong information so the following month I sent 2 checks one for the previous month and the current in 2 envelopes sending both with certified mail and return receipts. They cashed one and held the other, and then I sent my March payment which they held.
One day in March I get a letter that my home is in foreclosure and they want to buy the house. I called the number in the letter and chewed the man a new #@$ - hole, accusing him of attempting to scam me and that I would be contacting the proper authorities and the news agencies. He responded with all my information and Ocwen’s phone number and stated “before you call the authorities and the news, call Ocwen and you’ll find out the truth yourself”. I did and found myself 20,000.00 in the rears, they have been holding my payments due to not paying the correct amount, they admit to getting all my mail back and if I just pay 20,000.00 they will fix my credit and my loan would be current. They offer me a “deal” pay them 8,000.00 upfront, sign agreements not to sue them and not to go into bankruptcy and pay them $4,100.00 a month for 18 months and all would be good. I asked them why when my mail was being returned someone didn’t call me and I was told I was on a do not call list and if they called me I could sue them.
I have caught them in so many lies that it is not even funny. They contradict themselves with every phone call. I email them with my concerns and explain the whole situation and the response doesn’t even address my questions. They call me back so that there is no paper trail of what they are saying and 4 months later and I still don’t know my payment. Now the guy tells me his customer service person gave me the wrong information and must go through strict Ocwen retraining. He now claims none of my mail was returned, he claims they have held no payments and the envelopes they received were empty. This past Saturday April 7th, I received one of the checks they were holding back and on the check my correct address was put into the memo by someone at Ocwen processing when I ask him as to why I haven’t received any new mail at the corrected address he claims they just got the corrected address a couple of weeks ago and they do not have to send me anything. When I ask that if that were true why did the check that was returned have the correct address on it and it was dated 2 months prior, he states that I wrote it in the memo section or had someone write it in.
I can’t find the words to express my feelings on this. It amazes me that they are allowed to do business in this country. They are fleecing the people with loans with them and I can't believe they can wake up every morning and do this with no remorse. Crazy thing is they have the ability to make it right with hundreds of people, they have the opportunity to be a great company and they choose otherwise.
Even Ocwen's phone and information system is a joke. I called and it tells me my last payment of $2634.95 was received on March 5th 2007 and my NEXT payment of $1,2040.26 is due DECEMBER 1, 2006, 2006? They are a year behind!!!! and I didn't even owe that!!!
Then it tells me my hold time is 87,000 minutes.
I’ve had a loan with Ocwen for 2 years, when I first received the loan they bombarded me with calls 3 – 4 a day with offers and pestering me as to when I would be paying my loan payment that wasn’t due for 30 days. The person who would contact me spoke horrible English. Now I’m not against people with accents and or working with US citizens but I feel they should have a grasp of the English language to the point I feel they understand me and that I don’t have to repeat myself over and over and over. I asked to be put on a “do not solicited” list and that ended the calls. I never received statements, never received any notices and the tax information I need for my taxes. I paid online using their own payment system that gave me the amount to be paid which I did. On the 25th payment which is when the fixed ended my payment was not processed claiming I had entered the wrong information so the following month I sent 2 checks one for the previous month and the current in 2 envelopes sending both with certified mail and return receipts. They cashed one and held the other, and then I sent my March payment which they held.
One day in March I get a letter that my home is in foreclosure and they want to buy the house. I called the number in the letter and chewed the man a new #@$ - hole, accusing him of attempting to scam me and that I would be contacting the proper authorities and the news agencies. He responded with all my information and Ocwen’s phone number and stated “before you call the authorities and the news, call Ocwen and you’ll find out the truth yourself”. I did and found myself 20,000.00 in the rears, they have been holding my payments due to not paying the correct amount, they admit to getting all my mail back and if I just pay 20,000.00 they will fix my credit and my loan would be current. They offer me a “deal” pay them 8,000.00 upfront, sign agreements not to sue them and not to go into bankruptcy and pay them $4,100.00 a month for 18 months and all would be good. I asked them why when my mail was being returned someone didn’t call me and I was told I was on a do not call list and if they called me I could sue them.
I have caught them in so many lies that it is not even funny. They contradict themselves with every phone call. I email them with my concerns and explain the whole situation and the response doesn’t even address my questions. They call me back so that there is no paper trail of what they are saying and 4 months later and I still don’t know my payment. Now the guy tells me his customer service person gave me the wrong information and must go through strict Ocwen retraining. He now claims none of my mail was returned, he claims they have held no payments and the envelopes they received were empty. This past Saturday April 7th, I received one of the checks they were holding back and on the check my correct address was put into the memo by someone at Ocwen processing when I ask him as to why I haven’t received any new mail at the corrected address he claims they just got the corrected address a couple of weeks ago and they do not have to send me anything. When I ask that if that were true why did the check that was returned have the correct address on it and it was dated 2 months prior, he states that I wrote it in the memo section or had someone write it in.
I can’t find the words to express my feelings on this. It amazes me that they are allowed to do business in this country. They are fleecing the people with loans with them and I can't believe they can wake up every morning and do this with no remorse. Crazy thing is they have the ability to make it right with hundreds of people, they have the opportunity to be a great company and they choose otherwise.
Even Ocwen's phone and information system is a joke. I called and it tells me my last payment of $2634.95 was received on March 5th 2007 and my NEXT payment of $1,2040.26 is due DECEMBER 1, 2006, 2006? They are a year behind!!!! and I didn't even owe that!!!
Then it tells me my hold time is 87,000 minutes.
Ocwen Bad business to work with
Ocwen Federal is a very bad business. I paid a payment in March 2007 online, and the number was typed in wrong. So instead of calling me and asking for the correct number they have charged my account $98.54 in fees. This place is a joke. And the man who called was so rude to me on the phone, he could not even explain to me in detail the charges. I have had it with this place.
Ocwen is the worst bank ever
BE VERY AWARE....KEEP AWAY FROM THIS BANK. I have had nothing but problems with this bank and it just never ends. There customer service sucks. Every time you call you get someone from India whom can't understand what your talking about or you can't understand them. They miss apply payments every month, and to try to explain to them what they did wrong is like pulling teeth. They apply bogus fees to your statement. You ask them about it and you get "I don't know, "I can't explain why" or you get hung up on. These people are con artists, crooks and commit fruad. They try to put people into forclosure. BE VERY CAREFULE WITH THEM. MAKE SURE YOU EITHER DO, ON LINE BANKING or GET SIGNATURE REQUIRED if you send your checks out (get a record of the signature and date recieved). Make sure you have a record for everything (protect yourself). KEEP FAR AWAY FROM THEM.
Ocwen Bank The worst lender I've ever dealt with
I had nothing but problems with Ocwen. They have the worst customer service that you can imagine. Everytime you call them, you speak with someone from India who has no clue what you're talking about. You can't understand them at all. They don't communicate, misapply payments, etc. etc. Don't use Ocwen!
Ocwen Bank Nothing but problems
I had nothing but problems with Ocwen, there customer service is the worst. Every time you call there office you get a person from India and is very hard to under stand them. Do not use Ocwen for anything.
Do not use Ocwen for anything.
This company forced me to sale my home that i only had for one year to the date of sell. This company reported my payments as being late, sending partial payments, saying my checks had the wrong account and or routing number on them. They refused to let me make a payment towards my home loan. They have reported fraudulent information to the credit bureaus. The credit beureaus, DFI, attorney generals office, senators, govenors office will not help you.
They say they cannot make them take this information off of your credit report. I provided proof fom my bank statements and members from my bank also called wrote a letter yet this company still refused. Our country sucks! They allow this OCWEN to do business here in the United States. This company is outsourced to Iran and you can barely understand them. They are rude and will hang up on you.
The bottom line is do not do business with this company we the people should bumgard the govenors office with our complaints. We voted to get these people in office not just to sit there. They should do something about this. WARNING do not use OCWEN for anything! Worst Bank Ever Ocwen bought out my loan back in 2002. They are absolutely the worst bank ever! Terrible customer service and idiots working as loan agents. They randomly charge me late fees when my payments have been on time, they have misapplied funds, they do not return phone calls or emails promptly, and their customer service is rude and pretty much incompetent. DON'T BANK WITH THEM.
They say they cannot make them take this information off of your credit report. I provided proof fom my bank statements and members from my bank also called wrote a letter yet this company still refused. Our country sucks! They allow this OCWEN to do business here in the United States. This company is outsourced to Iran and you can barely understand them. They are rude and will hang up on you.
The bottom line is do not do business with this company we the people should bumgard the govenors office with our complaints. We voted to get these people in office not just to sit there. They should do something about this. WARNING do not use OCWEN for anything! Worst Bank Ever Ocwen bought out my loan back in 2002. They are absolutely the worst bank ever! Terrible customer service and idiots working as loan agents. They randomly charge me late fees when my payments have been on time, they have misapplied funds, they do not return phone calls or emails promptly, and their customer service is rude and pretty much incompetent. DON'T BANK WITH THEM.
Ocwen I Think Their Specialty is Fraud
A few yeaers back, Ocwen bought out my loan and told me my new account information. I sent the first paymeht but was then charged a late fee because my account was never set up correctly. I tried to reach them buy phone which is almost impossible and they accused me of not sending the payment in, even though they had deposited my check and never credited my account. 2 months went by and they still had not done anything.
They ended up sending me late fees and threats to my credit report if I didn't pay on time. This is AFTER I had sent them statements from my bank PROVING that they had withdrawn funds from my account. I'm not even sure if they're buying out people's loans anymore or what their doing. I know there was a class action lawsuit against them which doesn't surprise me in the least. If you're loan is bought out by Ocwen, FIND A NEW LENDER IMMEDIATELY!
They ended up sending me late fees and threats to my credit report if I didn't pay on time. This is AFTER I had sent them statements from my bank PROVING that they had withdrawn funds from my account. I'm not even sure if they're buying out people's loans anymore or what their doing. I know there was a class action lawsuit against them which doesn't surprise me in the least. If you're loan is bought out by Ocwen, FIND A NEW LENDER IMMEDIATELY!
Ocwen, Don't Work WIth These People!
I refinanced my mortgage several months ago using a mortgage broker and ended up financing with Ocwen. Due to a family emergency I was sort of stuck in a bad situation and needed to relocate. Everything seemed to go fine until they refused to give me a payoff letter so that I could closed.The closing went through and the money sat and sat in escrow waiting for Ocwen to get their act together. I called them numerous times a day and they would insist that I never sent in the correct paperwork and signatures. I would fax it in again, and then they would repeat the same thing. This has been the worst lending experience and I wouldn't wish it upon my worst enemy.
Ocwen Hell's Bank
Hell's Bank These people are con artists and crooks. Whatever you do stay away from them. They have been accused of fraud and I can completely understand why! Do NOT under any circumstances work with them.
Friday, December 7, 2007
The following are from: http://www.ripoffreport.com/reports/0/024/ripoff0024145.htm#240202
all dealing with
Ocwen and Hud Homes
FYI to people who have HUD homes that are serviced by OCWEN. Please do some research on what avenues are provided by the federal government to protect your home from foreclosure.I believe that since 1998 the mortgage assignment program was eliminated and new federal regulations went into effect which establish the requirement that mortgagtees/servicers (in other words OCWEN) must provide forbearance prevention loan services to residential borrowers whose federally insured loans are in default. These include:Forbearance plansRefinancingPartial Claims ( HUD might pick up the tab for your deliquency at 0% interest on loans)Modifications to the mtg (extending the payment terms out past the original date on the mtg)Dealing with the government can be very confusing , but they do have plans for HUD homeowners. Hud no longer allows the mgt servicers to assign defaulted loans to HUD, but MUST offer loan mitigation services. I don't know if this applies to non HUD homes, but you can try.So if OCWEN is threatening you with forclosure, and you have a HUD home...don't take it lying down..fight back!!! You have the law on your side.
Submitted: 8/9/2002 6:03:07 AMModified: 10/7/2003 12:10:01 AM
jo bel air , Maryland
Too Late
Sadly, a little too late for many us us: Ocwen has already taken our HUD homes.
Submitted: 8/17/2002 1:49:18 PMModified: 10/7/2003 12:10:01 AM
Richard Orlando , Florida
No Respect!
I have recently resigned from Ocwen as of Friday Aug. 16th. I would have quit 3 months ago but I couldn't find anything else. Please read on!To give you some kind of idea how Ocwen treats people in general, let me tell you my story.I was demoted from a supervisor in April for telling a borrower that Ocwen services sub-prime loans, the truth. It is public knowledge that they do and I have a copy of a press release to prove it. It is also on their web site ocwen.com. I tried to rebute the managers decision but all Human Resources would say is after further review they were sticking with their decision.They also stated in the demotion that I was punishing the borrower from getting her Payoff Quote because of their policies. I simply told the borrower that because we handle so many sub-prime loans that we must do a lot of verifying of the collatoral documents, fees and other expenses such as legal fees. I told the borrower on several occassions in the taped conversation that it wasn't that she had a sub-prime loan but it was Ocwen's policy. All in all my demotion was a personal endeavor of certain managers to get me out of Ocwen. They demoted a fellow supervisor four days prior and he decided to walk. I on the other hand went back to being an agent and proved myself time and time again that they were wrong in their decision. The first month but on the floor I received a certificate for the highest quality average out of the whole department of about 110 agents. I was also ranked as the number 2 agent for that month. Again, I have the proof.I was looking for legal representation at that time but the attorney's office never returned my message so I dropped it. The stress was unbelieveable.If there is any help that you can give me I would greatly appreciate it. I have quite a bit of documentation of the unfair and hostile environment that Ocwen had towards me.Thank you for your time.
Submitted: 8/18/2002 4:31:57 AMModified: 10/7/2003 12:10:01 AM
Bruce Orlando , Florida
Forbearance Plans & ..Something you should always do when closing your loan.....read your closing documents.
If you are behind on payments, most of the time Ocwen will offer a forbearance plan and some do work. What I found from working there is that some plans were not set up correctly.When a borrower would send payments, they could still go into foreclosure. Maybe the payments weren't enough or the downpayment wasn't enough. Borrowers even found themselves with a stack of late fees and atty fees, not to mention the interest. If the borrower survived this ordeal and refinanced, the payoff statement was another diappointment. Here is where they find all the atty fees, late fees and interest piled up. This was sometimes compounded by the fact they had to wait up to 15 days to get the statement. Ocwen had to locate the closing documents to verify if there was a pre-payment penalty. Sometimes it would be in the vault, sometimes not. Sometimes we could get the docs from the prior servicer. Ocwen even had situations where a custodian (a place where the docs were stored for a servicer) did not know that some of the loans were sold.Ocwen does not refinance anymore (there is a God), but they can extend the life of the loan. Of course, by doing that, they can change the terms of the agreement or call the loan in for full payment. Sometimes this happens with simple interest loans where there is a lot of interest that has not been paid during the original term of the loan.Something you should always do when closing your loan.....read your closing documents. Don't let the closing agent tell you what's on the paper...read it. Especially, the mortgage and the note. The note will tell you about how you pay the loan back to the mortage company. The items in the note will be the same no matter what servicer you have. Even if you have had 5 servicers, it should stay the same. Please read them now!!! You might be surprised at what you find.
Submitted: 9/30/2002 3:45:38 PMModified: 10/7/2003 12:10:01 AM
Vanessa Orlando , Florida
Terminated with no cause
I started working for Ocwen Federal Bank in October of 2000 and became full time permanent employee by December 2000. I was having personal problems by the beginning of this year. By mid April I couldn't handle my situation anymore and I went to my doctor. I was told that I was suffering from depression and that I needed some time off from work because besides depression I was also under a lot of stress. I requested a leave of absence that will start by May 6th, 2002 for 6 weeks. My doctor filled out all the paper work and stated that I should be out of work from May 8th until June 21st. Like I stated before I submitted all the paperwork to Human Resources in West Palm Beach by the beginning of May. First of all let me go back a little. When I received the paperwork for the leave of absence I forwarded one page to my supervisor that needed to be signed by the Collections Department Manager.A few days later my supervisor comes to me and tell me that the Manager told her that he wasn't going to sign the paper and that I should resign and reapply. I assume that when she went to his office to take the paper that needed to be signed she told him something for him not to signed the paper (which is an acknowledge paper letting the manager know that a leave of absence was requested and the dates) is basically not asking for his permission. When my supervisor told me this I told her that he couldn't do that because I wasn't asking for his permission and that it was up to Human Resources to approve or deny my request and I left it at that. I called Human Resources in West Palm Beach and told the person I talked to about this situation and the manager's paper not being signed and that it wasn't going to be included with all the paperwork.She asked me who my supervisor was and the manager's name since he couldn't do that. I gave her all the information she asked for. May came and I went to work on May 7 and 8th. I then called again Human Resources because I didn't hear anything from them if the leave of absence was approved. I already had some appointments on that week for myself & my kids. I was told by Human Resources in West Palm Beach that it wasn't approved yet but that if I could go to work and leave early or if I needed to be absent to call in. I told them that I couldn't do that because that will jeopordize my position at Ocwen and being absent or leaving early will basically terminate my job. I then was told to go ahead and take the leave and that I needed to call in every morning to report myself until the leave of absence was approved. I called in on May 9 and the 10th. On the 10th I called West Palm Beach and again I was told that it wasn't approved yet (I don't know why it was taking this long when they had all the paperwork and the doctor's note). I was told on May 10th not to worry and that they were going to speak to my supervisor in regards to my leave. I asked if I needed to keep calling in but I was told no since they were going to talk to Ocwen here in Orlando.On May 13th I didn't call & I received a call from my supervisor telling me that I had 2 unexcuse absences & if I didn't show to work the following day I was going to be terminated. I explained to her that on Friday I talked to Human Resources in WPB and told her what I was told. She then turns around and tells me that she was told by the same person that I talked to that I needed to keep going to work until my leave was approved (Keep in mind that it was supposed to start on May 8th) because some paperwork needed to be approved by their attorney????? I told her in return that I will talk again with Human Resources and she caught me off (didn't like what I said) and hung up the phone. I then call the WPB office and was told by the same person that she didn't say anything about me going to work until the leave was approved and that she was going to call my supervisor. Bottom line is that on June 7th I received a letter stating that my leave was approved and that I needed to report to work on June 13th. I reported my self to work on June 13th without a doctor's note because my appointment was for June 21st. I told my supervisor this and the in return told me that it was fine to go to my appointment on the 21st and to bring my doctor's note since I couldn't work without it. I went to the doctor's on the 21st and got my note, when I got home I received a letter from Ocwen stating that I was terminated as of June 13th because of failure to report to work. I then called WPB office and spoke to Human Resources and explained what happened on June 13th & I was told to wait until Monday (Not to show up to work) until they were able to talk to the people here in Orlando. I waited on Monday and finally at around 2:15pm I received a call from Human Resources in WPB that they were going to stick to the letter and to what the people in Orlando said. I am a single mother with 3 kids and my supervisor knew this but because I wasn't one of her favorites she lied stating that I didn't showed up to work when I did and I also have witnesses. This is telling you what kind of company is this that doesn't even follows the LAW!!!!!!!!!.
Submitted: 10/7/2002 1:27:38 PMModified: 10/7/2003 12:10:01 AM
Val & Lyla Helena , Montana
we were notified that they had sold our loan and they did not want us to send any money
We refinanced our home with Ocwen Federal in Flordia. Before we paid our first morgage payment we were notified that they had sold our loan and they did not want us to send any money to them. They told us to wait until we received a letter from the new lender, they also told us that we had 60 days before our first payment would be made. Meanwhile we received a letter from the new lender who told us to wait 15 days from the date of the letter to contact them to find out where to send our payment. We did that, and when I finally reached them, after many calls and being on hold for indefinite periods, they told me that my first payment would be due in 10 days. I made that payment thinking it was my first payment. Subsequently, within a month I received a 'Demand Letter' telling me that I was two months behind on my payments and that they needed so much money, due in a month, or we could loose our home. By that time I had already sent my second payment, which I told the person on the phone. Before they deposited that payment, which took two weeks, I received another 'Demand Letter' with a date due of a month later than the first letter I had received. When I told them what Ocwen had told me about my first payment being due in 60 days they told me that the person at Ocwen had given me incorrect information. So, now I am waiting to see what my next payment and to them does to my account. The other problem I have is that nobody can tell me if they are putting money in escrow for my taxes and insurance. The papers we signed say they should be but they tell me that there is a very small amount going into escrow, the amount being enough to cover the insurance only. How do I solve this problem? Please respond with any guidance you can give me, my time is running out. By the way, they also reported to the credit bureau that I was two months behind before I even got the 'Demand Letter'. I know that because I attempted to refinance when they started giving me the run around and would not respond to my messages. Therefore, I was turned down on that refinance attempt.
Submitted: 10/8/2002 11:45:14 AMModified: 10/7/2003 12:10:01 AM
marlene Miami , Florida
That's criminal Ocwen
All you say sounds very familiar to me. The Bank of Hell is very predictable.1. Never believe anything they tell you over the phone when they want to be 'helpful'. They are trained to lie and confuse you. They don't want to help you. THEY WANT YOUR HOUSE and YOUR MISERY.2. Do not send them regular payments using regular mail. (They do not acknowledge it, is 'mail fraud') Certified or Express mail will be posted later to make you look bad, if you are lucky and they post your payments. Use your bank 'on line' service (pay your bank fee if needed, for your peace of mind)Ask your bank to send you copies of your promt payments to them, make copies of those payments and send them, religiously, to your Attorney General and other agencies you may respect. 3. Contact your local authorities dealing with taxes and or insurance. Write a letter to them (use Certified mail so you can keep a proof) and explain you are dealing with a predatory and abusive institution (Freedom of Speech and Abundant Proof). Ask them to let you know how are you standing in the payment of your taxes and/or Insurance. Get ready to make the payments yourself in case Ocwen does not do it. They miscalculate escrow accounts on purpose so they may pay the difference if they decide to pay your taxes. By doing this they will raise your monthly payments to compensate, expecting you not to be able to keep up with the higher payments. Or they might decide not to pay any taxes at all so they can take your house by surprise later on. So, best thing to do regarding this, go to your local authorities directly because Ocwen is not out there to protect the consumer, just the opposite. They want to hurt you big time.3. Contact the IRS and tell them you are paying interest on your loan. Ocwen say they report to the IRS....But are you going to believe in these criminals?4. Contact the 4 credit bureaus: Equifax, Experian, TransUnion and Innovis. Write to them (use certified mail again) and send them proof of Ocwen's wrongdoing. You will have to wait 30 days and chances are Ocwen will not fix it (they got to be true to themselves). Then, write a Consumer's Statement for all bureaus making clear Ocwen refuses to correct their wrong reporting. I DID THAT. They want to destroy your credit so you declare bankrupcy, and you know the rest...So, keep the rest of your payments okay and on time (eat lettuce or rice only or get a second or third job if you need to). Their bad reporting about you got to be the only one bad in your entire credit reports.File a complain with the FTC because they are violating your rights under the FCRA, send a copy to your local people, and to Washington. 5. Write to them and make copies of your letters for other decent institutions. Yo need witnesses!6. Finally, it is perfectly SANE to feel and behave as a PARANOID with this company. Their crimes are real and the pain they can give you is also very real.Good Luck.
Submitted: 10/12/2002 3:19:23 PMModified: 10/7/2003 12:10:01 AM
carmen orlando , Florida
Ocwen Bank, working with the enemy, unprofessional, illegal activity, no regard for employees rip-off to their customers.
I became employed by ocwen on march 2001, and previously had experience in the banking industry I had never seen such an unprofessional management at Ocwen, since I first started working there I found that they are all about promises but never follow through, let me tell you my super experience with a supervisor from hell, I was constantly harassed by this supervisor in collection dept 30 plus you should know who she is they call her Lucifer that's how good she is and still is, this person had several complaints from employees, customers and other team leaders about her attitude and treatment to other people but upon until now she still works there and nobody has done anything about her she is very vicious person and like to create stories to hurt people, I am a single mom too and I was in her team too, and from the first time she saw me started giving a lot problems she never sat down to help me, or give me any advices about my work,I let her know from the beginning that I didn't have nobody to take care of my kids when they were sick because their father didn't want to help, also she knew I had a lot of court days because of me ex-husband for mediation, she knew what I was going through her words were we will work on it as the time goes by don't worry about it I will help you, but she never kept her word, on march 2002 she called me at the office with another supervisor telling me that she is giving me a warning because I was talking unexcused days too much, every time I request days off she will give and then end up back fired on me, every time I will bring doctors excused and also will work extra hours to make up time she will say that's fine, in spite of everything she didn't care and gave it to me, I know that she had favoritism with other people that came late every day and were never at their desk but she didn't do anything because we know she always went out with them to drink or dance, this very disgusting and very unprofessional, In may of 2002 a friend of mine told me that to watch out because she heard her supervisor talking with this person that to please fired me after being moved to her team, she was convincing her to fired me because of abscesses, but I concluded that she is retailing against me because in may of 2002 she called the manager of our collection dept 30 plus and her she didn't tell him what it was about, my manager ask me what happen I explain him everything about my situation with schedules, my children and the reason why, I previously went to him because she didn't want to moved a day to work for one hour for my kinder garden meeting teacher day and he knew what she was doing to me her excused was that she didn't want to lose her bonus this month, (talking about caring) she was very upset in may because everything backfired on her boss told me that was going to change my schedule, from 8:30 to 5:30 so I can go pick up my children, and no working weekends because of daycare also on Fridays work until 3:00pm I agree because I was very sad with the situation because she never took the time to help me instead was trying to get me fired.He said that I was a good worker and he knew I had a good attitude towards my work, even though I was going through a lot, he said I am going to help you Carmen don't worry, and I worked for a month and a half with no problems and was always on time, but in June 10, 2002 my new supervisor influence by her called me to human resources to fired me because I used too many unexpected sick days, I didn't say anything because I was waiting for this since she was mad that her boss let her down by helping me, but that's not all after 3 months taking unemployment benefits now they are saying that I had a problem with misconduct which I don't understand they said that because of taking unexpected unplanned pto days but how sarcastic is this my last check that I received dated 6/21/02 had overtime paid 14.25 hrs and (PTO PAID 9.50 HRS) hello how stupid this people are didn't she said that I didn't have no more unplanned pto this people are a bunch of liars, the only person that is decent there is my ex-manager the only person that really care about my situation and I am very thankful for what he did for me and my children, now I am still unemployed trying to find a job but unfortunately companies are laying off instead of hiring them, now Ocwen wants to cancel my benefits because they can't pay all the employees that Ocwen keeps firing them, what really happens is that this company is moving to India by December and they want to save money, also they have so many law suits from customers because of there treatment and rip off practices they have over 1.5 billion in recovery, and that's why they want to save money by lying to the unemployment office and putting complaints about employees that work for them and want to get away with it because we are in Florida, no way José we have rights and any employee whose not working there or have had any situation similar or situation with Ocwen please contact me for a complaint with EEOC, and have them investigate and hopefully make them pay for pain and suffering that they have cause to our families.... thank you for your time, but I am very frustrated I know how the customers fell about Ocwen now and is true because I experience it on my own, (imagine you think that if they don't care about customers you think they care about employees, not really ))))
Submitted: 1/6/2003 2:21:03 AMModified: 10/7/2003 12:10:01 AM
,
Breaking News Update:
'Plaintiffs in the Hanson v. Ocwen case file papers to disqualify the judge, because (according to the papers publicaly filed in the federal court clerk's office) it turns out that the judge used to work for the law firm representing Moss Codilis, which constitutes 16 of the 20 defendants in the class action lawsuit.' No indication when the Judge will consider the motion, or if he will feel obligated to pass the motion on to another judge to decide. It will slow our case down briefly, but thereafter, whether the judge is forced to step aside or continues handling the case, the case will move forward quickly, as we have meticulously shown why there is no justification for the case to sit still as long as it has.
Submitted: 2/1/2003 8:14:45 AMModified: 10/7/2003 12:10:01 AM
Ocwen EmployeeOrlando, FloridaU.S.A.
Leader of the Pack has no Credibility
As an employee of Ocwen Federal Bank, FSB, I along with all of the other employees try my very best day in and day out. After reviewing the comments included within this report, I feel that the leader of this pack has absolutely no reason to file a civil action. When someone signs a mortgage note, they agree to pay back the funds that have been borrowed in a timely manner. This has not been the case with this individual. And like any company, when you are late you will receive phone calls and letter correspondence from the lender. I do have to say that I don't agree with everything Ocwen does, but I am an employee that goes to work to make a substantial difference. I am a little disturbed that some lawyer that likes to send rubber checks tries to tarnish my company and it's reputation. Word of advise Mr. Hanson - if you don't want to pay your bills that you are under obligation to do so, then don't cry about it. I really hope that my company decides to counter-sue you for wasting a lot of people's time and energy. Save our time for people with legitimate issues, and I will be the first to admit there are a lot out there. Now that I have seen this report, I will follow-up with the connections that I have within the media to see what kind of credibility that Mr. Hanson truly has. I think that a new report should be entered - Crooked Lawyers that like to rally individuals up and won't have any follow-through.I really feel sorry for your supporters, because some of them have legitimate issues and you are wasting their time here.
Submitted: 2/1/2003 6:07:34 PMModified: 10/7/2003 12:10:01 AM
Kweku HansonHartford, ConnecticutU.S.A.
To the Ocwen employee above
You tried to post garbage about me to the RipOffReport website, huh? Bounced Checks from the Leader of the Pack? Thanks for the compliment of identifying me as Ocwen's Public Enemy Number One. All my original checks paid to Ocwen are in a vault in some bank closer to your headquarters than you probably imagined. Plus, my regular bank has electronic copies. Plus, my lawyers have hard copies. Try something more dirty, like spread a rumour that I am actually a sleeper-cell member of Al Qaeda or related to Saddam Hussein or something like that. But don't try something infantile like trying to sway the hundreds of irate victims of Ocwen. Guess what, whithout even knowing me, they sent me all their financial details and PROOF of THEIR canceled checks, Western Union Quick Collects, etc., to show how Ocwen was stealing their monies. They are waiting to come up to Hartford to testify against Ocwen. So no matter what rumours you plant on the web or in one-to-one phone calls about me, they know better. They have been raped by YOU GUYS, not me. They could care less if I never paid one cent of my mortgage. Get it? All they care about is that someone is trying to topple the theives at Ocwen!Congrats! Ocwen knows darn well that my lawyers have the goods on it, and that WE SHALL WIN THE FIGHT BOTH IN THE CIVIL COURTS AND THE CRIMINAL COURTS AGAINST OCWEN. The FBI is hot on your tail; several Attorneys General are peeking over your walls. MANY of your employees have already squealed (and you know this) and we have ALREADY DISTRIBUTED THE PROOF OF YOUR CROOKEDNESS TO THE FBI and Connecticut State Police.So keep plotting my ruin (but make sure you don't suffer the fate of Fastow and other white collar crooks while you are about it). Enjoy your dream digs while you can . . . . Judgement Day is coming for you.And it does NOT help you to buy employee silence by threatening them with lawsuits if their names come up in our lawsuits. We will simply depose 50 employees in random order and keep you guessing which 25 of them are moles or informants. Or, we may even reveal the moles to you in the next two weeks. As my lead lawyer said to you in court: Ocwen will turn as red as a boiled lobster when it discovers how much DIRT its loyal, HIGH-RANKING employees sent to us.You know I have NEVER EXAGGERATED to date in this lawsuit. I say what I mean and mean what I say. If I say there are moles alive and well, I mean exactly that. If I say they are high-ranking, i mean exactly that. If I say the FBI has ALL the info shared by the moles, I mean exactly that. If I say Lief Cabraser is going to sue you in an even bigger national class action shortly, I mean exactly that. You can buy or kill-off or scare away some of the people some of the time, but you cannot buy or kill-off or scare away ALL of the victims and law enforcement personnel ALL of the time. and that's the good thing about GOD, the one who frustrates Osama bin Laden's plans; the one who decides when even astronauts will live and die, and the one who decides when fat cats will have to be retired to a federal penitentiary.leagltek@mindspring.com
Submitted: 2/2/2003 12:02:13 AMModified: 10/7/2003 12:10:01 AM
JonSan Diego, CaliforniaU.S.A.
It's All About Credibility!
To the Ocwen employee that posted dribble above! Are you really so obtuse that you actually think we would give your words second's thought! Believe me... if I were in your shoes, I wouldn't have signed my name to that post as well! Or could it be that you just don't know how spell it!
Submitted: 2/2/2003 2:12:55 AMModified: 10/7/2003 12:10:01 AM
DavidWestbury, New YorkU.S.A.
To The Spineless Ocwen Employee...
Pretty bold of you to hide behind a generic name like 'Ocwen employee' and libel someone by claiming they write bad checks. I can only guess that you didn't give your name out because (1) you are a coward like any other low-level racketeering criminal and (2) Ocwen doesn't pay you enough to afford an attorney should you get sued for libel by Mr. Hanson. If you had any backbone at all and truly wanted to help people and these customers, you would stop whoring yourself by thieving for this pseudo company -- and thus stop helping the Erbey Brothers get more money to throw more cocktail parties to buy off more whoring politicians -- turn all the evidence of wrongdoing over to the proper authorities, and a certain attorney you just libeled on here, and get yourself honest work. Otherwise you're just another mealy-mouthed, babbling idiot that's only aiding and abetting these con artists in screwing over your fellow Americans and adding to the sorry shape this country is already in.
Submitted: 2/2/2003 8:07:54 AMModified: 10/7/2003 12:10:01 AM
KwekuHartford, ConnecticutU.S.A.
Ocwen Federal Judge Sets Feb. 4th Court Hearing
The federal judge hearing the putative nationwide class action lawsuit against Ocwen last week set February 4th (Tuesday) for an in-court hearing on my motion to for that judge to disqualify himself, based on the fact that he used to work for the same law firm representing the sixteen Moss Codilis defendants in the Ocwen lawsuit, and this information was not disclosed to the Plaintiffs by either the Judge or Moss Codilis lawyers.While it is unusual for a judge to call a hearing on a motion for recusal (judges, in my thirteen years experience as a federal court litigator-attorney, and based on my lawyer's reserach, typically decide the motion on the papers), my lawyer and I are going to be in court in Hartford, Connecticut on February 4th to see what the Court decides to do on this issue.All I know is that if the tabels were turned, Ocwen and Moss Codilis would never permit anyone who worked for my law office or my lawyer's law office in the past to sit on the jury or in any shape decide this case.To all who have been praying for me and/or been otherwise supportive as I come under personal attack by the klpetomaniacs at Ocwen, thank you. I take it as a sign of desparation within Ocwen circles that despite all their muscle and despite having stolen our monies, they have still not been able to knock out our lawsuit. And I assure all of you, we turned over criminal evidence to the FBI in October last year. We got that evidence from persons working at Ocwen's Orlando Facility, some of whom still work there, despite aggressive efforts by Ocwen to find and fire them. Sign up for WebPacer at http://pacer.psc.uscourts.gov/ and keep track of how this lawsuit is going on a daily basis.Thank you again, Kweku Hanson
Submitted: 2/2/2003 11:57:03 AMModified: 10/7/2003 12:10:01 AM
MercedesMiami Lakes, FloridaU.S.A.
Ocwen Employee or the Thief Supporter? ..Shame on you!
For your information, Ocwen's 'employee', Mr. Hanson does not have any supporters as you say. It's just the opposite: He is supporting us. He is our Supporter, your company is our Enemy. And you defend what is undefendible...Shame on you! If you ever consider a counter-sue don't forget to include my name in it (I'll ask Mr. Hanson and others to provide all my information). I, and too many others, will be on Mr. Hanson's side. His side represents: HONOR, COURAGE, and AMERICAN DIGNITY. Your side is the side of CRIME and SHAME.By the way, I understand your preocupation about Ocwen's reputation; but that is an exercise in futility. You can not repair it.Ocwen's reputation is already DUST. Ocwen's reputation...Ha,ja,Ha,ja! Good joke.
Submitted: 2/5/2003 3:59:28 AMModified: 10/7/2003 12:10:01 AM
ElizabethMcHenry,, IllinoisU.S.A.
Run To The Media And See WHO Gets Exposed
Since you are so brave to threaten to run to the connections claim you have within the media, but not sign your even your first name as other Ocron employees have, PLEASE do all of us VICTIMS (not supporters) a favor and go to the them and let's get this on the airwaves. Let's see WHO is exposed and for what. You may not get what you wished for.You talk credibility, here's some I'd like to see. How about an actual contract with OcRon stating that they hold the mortgage on my home? That's right. They BOUGHT my mortgage from HUD in March, 1996. To this day, I have not received any papers proving there was a legal transfer of the mortgage. Could that be why when OcRon forced me in Chapter 13 to keep from foreclosure, they fought it for 14 months? The whole time they fought it, they were gladly still accepting my monthly payments. Yet I don't even know for a fact that they DO hold my mortgage. Another one of your fellow CREDIBLE OcRon employees stated above that you should read our closing statements carefully. Well, I did when I bought the house originally. But that became null and void when HUD took over assignment in 1994. It took them 6 months to accept it, already putting me in arrears. When HUD sold my mortgage, I was given Ocron's name and phone number. That was it. Not a word from OcRon. I had to contact them so my first payment wasn't late. I think almost 6 years is FAR past the 60 days the law allows for them to contact me with notification and the papers to sign. All I've ever signed are forbearance agreements EVERY SIX MONTHS.Then lets talk about how credible it is to charge $90 in legal fees for a 'late payment notification' that was NOT from Moss, Codilis, but on OcRon stationery, signed from their 'Performing Loan Department' and signed by NO ONE. I could wallpaper a room with them from payments that were 'lost in the mail' or posted weeks after they were sent. It seems funny that any payments I DON'T send certified, return receipt requested manage to get lost.This is really credible. For 5 years, OcRon sent me 'substitute' 1098s to show the amount of interest and property taxes paid. But on their very own web site, it shows that they understated the interest to the IRS the first year and never reported the amount for the next 4. Last year I received a REAL 1098 only because I reported the correct amount of interest paid in 2000. Can you say 'tax evasion'? The amount of interest they show paid on that fabulous site shows they paid more in interest to the IRS than they claim I paid. How odd. Good thing they put a disclaimer that they don't guarantee the information on the sight and that it's open for personal interpretation. Then why have it if the information is unreliable? I could right a book about OcRon's non-credibility. But the last one is OcRon breaking not only Federal Banking Laws, but their own SOPs when there is a hazard claim. By law and their SOPs, the house was to be inspected before the work began, when the work was 60% complete, and when the house was finished. They gave $30,000 of insurance money sent to them, signed by myself and a contractor that has the same moral fiber as your bosses, without ever ONCE having my home inspected. They have reports from the inspectors that OcRon contracts with that they never had access to the house and couldn't see in windows that had newspapers covering them. They used the falsified form from the contractor used as proof the work was done and I was satisfied. Funny, I don't remember ever being notified of one single inspection date. After the last $10,000 was sent to the contractor, that was the last I saw of the contractor and the money that was to pay the sub-contractors. I called OcRon, and they gave me different stories from it being my fault, to it was such a small amount to hold ($10,000 is small?), to he harassed us so bad we sent it to him to leave use alone. He disappeared and we later were served papers that he filed for bankruptcy.Well, how about your supposed media friends meet with a real investigative reporter for one of the 3 major networks that I know here and see who comes up with the 'credible' information. With the many people I've seen on here from my neck of the woods, he'd get plenty. Can you say the same?Hope you have a resume handy. By the way OcRon's stocks look and all the lawsuits against them, you'll probably be out of work soon.
Submitted: 3/21/2003 1:35:59 PMModified: 10/7/2003 12:10:01 AM
MalinaSt. Marys, OhioU.S.A.
No info received from Ocwen when they bought our loan from Rebublic Bank
I realize that in the past I have not paid attention to personal finance like I should have. When Republic Bank sold our loan to Ocwen several years ago, we never got a letter from Ocwen stating that they were now servicing my loan, all we received was a statement! Should we have received a new contract from them? I can look at this situation now and see that the payoff amount on this loan really isn't declining as rapidly as I thought. Can they have changed terms and not notified us? I do know that when I have called them with questions (except for one time when I got someone who was actually pleasant knowledgable and helpful), no one seems able to help me or I have to call a different phone number altogether. Why give me a number I can't use? It does also seem odd that it takes so long for a check to arrive (10 days???!!?) before it gets posted to my account. I will be going back through all of my records now and checking everything to see that we weren't charged fees that we should not have been. Thankfully, we are almost finished with Ocwen, but maybe my information will be of help to someone else down the line.
Submitted: 3/23/2003 9:34:01 PMModified: 10/7/2003 12:10:01 AM
Kweku HansonHartford, ConnecticutU.S.A.
OCWEN FELLOW VICTIMS, HOLD OUT HOPE YET! ..FBI is on Ocwen's tail.
I am the lead plaintiff in the $1.5 BILLION class action lawsuit against Ocwen and Moss Codilis mentioned here.I am breaking my silence to leave some words of encouragement. Fellow Ocwen victims, please take heart. All your countless Affidavits and records showing that you indeed have been ripped-off have not just gathered dust on my lawyers' shelves.We have had delays not off our doing in this lawsuit during the past eight months. We are now confronted with a discovery schedule that does not give us enough time to depose all of Ocwen's folk we are prepared to question under oath.However, the numerous Affidavits many of you have sent in, and the FAITH many of you have kept even as Ocwen was breaking down your doors and taking or trying to take your homes and health, and even us Ocwen was bombarding me with computer viruses, trojan and stealth programs and other garbage, is going to bear fruition.It is time for us to counterattack. My lawyers are polishing their JDAM missiles to strike back (if you will excuse the war analogy). Very soon, we will sock it to these folk, who daily monitor this website with apprehension in their hearts. I have stated here many times that the FBI is on Ocwen's tail. Believe it guys, even if you see nothing yet. I have stated that my lawyers have compiled enough proof so that no matter who tries, we will get it before a federal jury sooner or later, and in a class action lawsuit.2003 is going to be the year of victory for Ocwen's victims. You read it here first!leagltek@mindspring.comPS: THANK YOU Rip-off Report for all your help.
Submitted: 4/13/2003 4:58:56 PMModified: 10/7/2003 12:10:01 AM
JillianOrlando, FloridaU.S.A.
What's really going on... Ocwen management does not give the employees the means and facilities to accurately assist borrowers in the manner in which we should.
Alright everyone, here are some tips on what really goes on at Ocwen. I have worked there several years (I still do), and I have worked in several different departments. Ocwen management does not give the employees the means and facilities to accurately assist borrowers in the manner in which we should. For example those who work in the customer relations department only have a limited amount of time to assist the borrowers on the phone, then they are repremanded if they go beyond that timeframe. Employees are treated with disrespect and disregard in just about every aspect of our jobs. To Ocwen management we are mearly automatons to make monthly numbers high so mangement can receive a large yearly bonus. The accuracy of the task does not matter, numbers only. Unless, of course, a problem is elevated to a government agency. Only then does management care how accurate the work is. And, in order to save money (no employee below management level knows why) Ocwen has moved many of the job functions to India. Upper management wanted cheap labor, and that is exactly what they got. It is rumored that these people make about $1.00 or $2.00 an hour, compared to Ocwen's American Employees, at anywhere from $9.00 upward. If you call the customer relations department and speak to someone with an accent so heavy that you can't understand what they are saying, you have reached India. And, it has come to our (employees below management levels)attention, that last year, when reporting to their investors, Ocwen management lied about the 'India Project', saying that only about 20% of customer service functions were sent to India. It's more like 80%. I apologize to all of you who have had to deal with Ocwen. There are those of us who strive to do things the 'right way'. But, at Ocwen, Numbers is the name of the game, not accuracy. So, keep up the good work in trying to make them accountable. Maybe one day soon, all of us will get to work one morning and the doors will be chained shut. Good Luck!!
Submitted: 4/26/2003 7:50:23 PMModified: 10/7/2003 12:10:01 AM
TriciaAltamonte Springs, FloridaU.S.A.
Ocwen told me when I worked there...
that it is in their best interest to get the house from the account holder. They will be able to make more money selling it than to work with the people currently in the house. Apparently, they make side arrangements/ kickbacks with realtors.After reading all of these stories, I believe that has to be on their unpublished mission statement because all of their efforts seem to be concentrated on getting consumers out of the house.Maybe there is a gargantuan cover-up going on. I don't know for sure, but what I do know is that I'd rather be homeless then have to owe Ocwen a dime. They are beyond shady, they are heartless.
Submitted: 4/28/2003 8:03:00 PMModified: 10/7/2003 12:10:01 AM
CharlesNorth Haledon, New JerseyU.S.A.
We will not give up so easily!
We are behind you (Kweku), 100%! As far as dealing with Ocwen or being homeless, we will keep fighting. You can't just give up and decide to be homeless. I don't know about you but I have a family to think of and we won't give up that easily. We will overcome this atrocity named Ocwen. Our faith remains strong and our prayers are with Kweku and all who have suffered as we have because of the criminal acts of evil Ocwen. We will overcome! We will defeat Ocwen! We believe in you Kweku! Thank-you
Submitted: 5/2/2003 3:13:11 PMModified: 10/7/2003 12:10:01 AM
ShawnOrange, CaliforniaU.S.A.
Tried to help many borrowers .. Ocwen working to shaft the borrowers
I am a private investor who has tried to help at least half a dozen OCWEN customers try to 'cure' their loans and not lose their homes. The Moss, Codillis 'loan resolution' specialists won't even return my calls. The only solution they offer these people is foresclosure or a short sale working with a Realtor. I have to believe that they are working to shaft the borrowers. Good luck with the lawsuit.
Submitted: 12/12/2003 12:22:16 PMModified: 12/12/2003 11:34:14 PM
MichaelModesto, CaliforniaU.S.A.
Wondering where to locate an attorney in California against Ocwen
I am a loan officer and time after time, I run into people how have Ocwen as there mortgage carrier. They come to me begging me to help them get away from this horrible company. More than a few occations, I come accross an individual with a credit reporting and payment posting problem. I have a current customer that I am working to refinance and he is under the same situation. He has made most if not all his payments on time and regardless how early he sends in his payment, Ocwen reports it late, now they've put him into forecloser. I've done some research and it seems nationwide that Ocwen and their customers are having this problem of misapplying payments and reporting foreclosures premature without the facts straight. I'm sick of this companies servicing and companies alike. We used to sell our loans to Ocwen to be serviced, but after complaint after complaint and non compliance, we withdrew our contract with Ocwen and we no longer sell our loans to Ocwen to service our loans. This company should not be in business. The line needs to be drawn. My question is, where can I locate an attorney here in California, so I can refer clients to? Ocwen is obviously a preditory lender and they need to either change or go bankrupt. This all needs to stop. The Federal goverment needs to yank their licensing and they need to reimburse everyone that they have ripped off. To help my customer, I have referred him to a debt attorney in fact. They are a credit repair agency, but that to me isn't enough. Ocwen owes him some money for unjust late fees and suffering. He can't get credit at any institution without an outrageous interest rate. Why should he or anyone suffer for Ocwen's mistakes? If anyone can offer me any information on a attorney that already has an ongoing case, that will be very helpful.
FYI to people who have HUD homes that are serviced by OCWEN. Please do some research on what avenues are provided by the federal government to protect your home from foreclosure.I believe that since 1998 the mortgage assignment program was eliminated and new federal regulations went into effect which establish the requirement that mortgagtees/servicers (in other words OCWEN) must provide forbearance prevention loan services to residential borrowers whose federally insured loans are in default. These include:Forbearance plansRefinancingPartial Claims ( HUD might pick up the tab for your deliquency at 0% interest on loans)Modifications to the mtg (extending the payment terms out past the original date on the mtg)Dealing with the government can be very confusing , but they do have plans for HUD homeowners. Hud no longer allows the mgt servicers to assign defaulted loans to HUD, but MUST offer loan mitigation services. I don't know if this applies to non HUD homes, but you can try.So if OCWEN is threatening you with forclosure, and you have a HUD home...don't take it lying down..fight back!!! You have the law on your side.
Submitted: 8/9/2002 6:03:07 AMModified: 10/7/2003 12:10:01 AM
jo bel air , Maryland
Too Late
Sadly, a little too late for many us us: Ocwen has already taken our HUD homes.
Submitted: 8/17/2002 1:49:18 PMModified: 10/7/2003 12:10:01 AM
Richard Orlando , Florida
No Respect!
I have recently resigned from Ocwen as of Friday Aug. 16th. I would have quit 3 months ago but I couldn't find anything else. Please read on!To give you some kind of idea how Ocwen treats people in general, let me tell you my story.I was demoted from a supervisor in April for telling a borrower that Ocwen services sub-prime loans, the truth. It is public knowledge that they do and I have a copy of a press release to prove it. It is also on their web site ocwen.com. I tried to rebute the managers decision but all Human Resources would say is after further review they were sticking with their decision.They also stated in the demotion that I was punishing the borrower from getting her Payoff Quote because of their policies. I simply told the borrower that because we handle so many sub-prime loans that we must do a lot of verifying of the collatoral documents, fees and other expenses such as legal fees. I told the borrower on several occassions in the taped conversation that it wasn't that she had a sub-prime loan but it was Ocwen's policy. All in all my demotion was a personal endeavor of certain managers to get me out of Ocwen. They demoted a fellow supervisor four days prior and he decided to walk. I on the other hand went back to being an agent and proved myself time and time again that they were wrong in their decision. The first month but on the floor I received a certificate for the highest quality average out of the whole department of about 110 agents. I was also ranked as the number 2 agent for that month. Again, I have the proof.I was looking for legal representation at that time but the attorney's office never returned my message so I dropped it. The stress was unbelieveable.If there is any help that you can give me I would greatly appreciate it. I have quite a bit of documentation of the unfair and hostile environment that Ocwen had towards me.Thank you for your time.
Submitted: 8/18/2002 4:31:57 AMModified: 10/7/2003 12:10:01 AM
Bruce Orlando , Florida
Forbearance Plans & ..Something you should always do when closing your loan.....read your closing documents.
If you are behind on payments, most of the time Ocwen will offer a forbearance plan and some do work. What I found from working there is that some plans were not set up correctly.When a borrower would send payments, they could still go into foreclosure. Maybe the payments weren't enough or the downpayment wasn't enough. Borrowers even found themselves with a stack of late fees and atty fees, not to mention the interest. If the borrower survived this ordeal and refinanced, the payoff statement was another diappointment. Here is where they find all the atty fees, late fees and interest piled up. This was sometimes compounded by the fact they had to wait up to 15 days to get the statement. Ocwen had to locate the closing documents to verify if there was a pre-payment penalty. Sometimes it would be in the vault, sometimes not. Sometimes we could get the docs from the prior servicer. Ocwen even had situations where a custodian (a place where the docs were stored for a servicer) did not know that some of the loans were sold.Ocwen does not refinance anymore (there is a God), but they can extend the life of the loan. Of course, by doing that, they can change the terms of the agreement or call the loan in for full payment. Sometimes this happens with simple interest loans where there is a lot of interest that has not been paid during the original term of the loan.Something you should always do when closing your loan.....read your closing documents. Don't let the closing agent tell you what's on the paper...read it. Especially, the mortgage and the note. The note will tell you about how you pay the loan back to the mortage company. The items in the note will be the same no matter what servicer you have. Even if you have had 5 servicers, it should stay the same. Please read them now!!! You might be surprised at what you find.
Submitted: 9/30/2002 3:45:38 PMModified: 10/7/2003 12:10:01 AM
Vanessa Orlando , Florida
Terminated with no cause
I started working for Ocwen Federal Bank in October of 2000 and became full time permanent employee by December 2000. I was having personal problems by the beginning of this year. By mid April I couldn't handle my situation anymore and I went to my doctor. I was told that I was suffering from depression and that I needed some time off from work because besides depression I was also under a lot of stress. I requested a leave of absence that will start by May 6th, 2002 for 6 weeks. My doctor filled out all the paper work and stated that I should be out of work from May 8th until June 21st. Like I stated before I submitted all the paperwork to Human Resources in West Palm Beach by the beginning of May. First of all let me go back a little. When I received the paperwork for the leave of absence I forwarded one page to my supervisor that needed to be signed by the Collections Department Manager.A few days later my supervisor comes to me and tell me that the Manager told her that he wasn't going to sign the paper and that I should resign and reapply. I assume that when she went to his office to take the paper that needed to be signed she told him something for him not to signed the paper (which is an acknowledge paper letting the manager know that a leave of absence was requested and the dates) is basically not asking for his permission. When my supervisor told me this I told her that he couldn't do that because I wasn't asking for his permission and that it was up to Human Resources to approve or deny my request and I left it at that. I called Human Resources in West Palm Beach and told the person I talked to about this situation and the manager's paper not being signed and that it wasn't going to be included with all the paperwork.She asked me who my supervisor was and the manager's name since he couldn't do that. I gave her all the information she asked for. May came and I went to work on May 7 and 8th. I then called again Human Resources because I didn't hear anything from them if the leave of absence was approved. I already had some appointments on that week for myself & my kids. I was told by Human Resources in West Palm Beach that it wasn't approved yet but that if I could go to work and leave early or if I needed to be absent to call in. I told them that I couldn't do that because that will jeopordize my position at Ocwen and being absent or leaving early will basically terminate my job. I then was told to go ahead and take the leave and that I needed to call in every morning to report myself until the leave of absence was approved. I called in on May 9 and the 10th. On the 10th I called West Palm Beach and again I was told that it wasn't approved yet (I don't know why it was taking this long when they had all the paperwork and the doctor's note). I was told on May 10th not to worry and that they were going to speak to my supervisor in regards to my leave. I asked if I needed to keep calling in but I was told no since they were going to talk to Ocwen here in Orlando.On May 13th I didn't call & I received a call from my supervisor telling me that I had 2 unexcuse absences & if I didn't show to work the following day I was going to be terminated. I explained to her that on Friday I talked to Human Resources in WPB and told her what I was told. She then turns around and tells me that she was told by the same person that I talked to that I needed to keep going to work until my leave was approved (Keep in mind that it was supposed to start on May 8th) because some paperwork needed to be approved by their attorney????? I told her in return that I will talk again with Human Resources and she caught me off (didn't like what I said) and hung up the phone. I then call the WPB office and was told by the same person that she didn't say anything about me going to work until the leave was approved and that she was going to call my supervisor. Bottom line is that on June 7th I received a letter stating that my leave was approved and that I needed to report to work on June 13th. I reported my self to work on June 13th without a doctor's note because my appointment was for June 21st. I told my supervisor this and the in return told me that it was fine to go to my appointment on the 21st and to bring my doctor's note since I couldn't work without it. I went to the doctor's on the 21st and got my note, when I got home I received a letter from Ocwen stating that I was terminated as of June 13th because of failure to report to work. I then called WPB office and spoke to Human Resources and explained what happened on June 13th & I was told to wait until Monday (Not to show up to work) until they were able to talk to the people here in Orlando. I waited on Monday and finally at around 2:15pm I received a call from Human Resources in WPB that they were going to stick to the letter and to what the people in Orlando said. I am a single mother with 3 kids and my supervisor knew this but because I wasn't one of her favorites she lied stating that I didn't showed up to work when I did and I also have witnesses. This is telling you what kind of company is this that doesn't even follows the LAW!!!!!!!!!.
Submitted: 10/7/2002 1:27:38 PMModified: 10/7/2003 12:10:01 AM
Val & Lyla Helena , Montana
we were notified that they had sold our loan and they did not want us to send any money
We refinanced our home with Ocwen Federal in Flordia. Before we paid our first morgage payment we were notified that they had sold our loan and they did not want us to send any money to them. They told us to wait until we received a letter from the new lender, they also told us that we had 60 days before our first payment would be made. Meanwhile we received a letter from the new lender who told us to wait 15 days from the date of the letter to contact them to find out where to send our payment. We did that, and when I finally reached them, after many calls and being on hold for indefinite periods, they told me that my first payment would be due in 10 days. I made that payment thinking it was my first payment. Subsequently, within a month I received a 'Demand Letter' telling me that I was two months behind on my payments and that they needed so much money, due in a month, or we could loose our home. By that time I had already sent my second payment, which I told the person on the phone. Before they deposited that payment, which took two weeks, I received another 'Demand Letter' with a date due of a month later than the first letter I had received. When I told them what Ocwen had told me about my first payment being due in 60 days they told me that the person at Ocwen had given me incorrect information. So, now I am waiting to see what my next payment and to them does to my account. The other problem I have is that nobody can tell me if they are putting money in escrow for my taxes and insurance. The papers we signed say they should be but they tell me that there is a very small amount going into escrow, the amount being enough to cover the insurance only. How do I solve this problem? Please respond with any guidance you can give me, my time is running out. By the way, they also reported to the credit bureau that I was two months behind before I even got the 'Demand Letter'. I know that because I attempted to refinance when they started giving me the run around and would not respond to my messages. Therefore, I was turned down on that refinance attempt.
Submitted: 10/8/2002 11:45:14 AMModified: 10/7/2003 12:10:01 AM
marlene Miami , Florida
That's criminal Ocwen
All you say sounds very familiar to me. The Bank of Hell is very predictable.1. Never believe anything they tell you over the phone when they want to be 'helpful'. They are trained to lie and confuse you. They don't want to help you. THEY WANT YOUR HOUSE and YOUR MISERY.2. Do not send them regular payments using regular mail. (They do not acknowledge it, is 'mail fraud') Certified or Express mail will be posted later to make you look bad, if you are lucky and they post your payments. Use your bank 'on line' service (pay your bank fee if needed, for your peace of mind)Ask your bank to send you copies of your promt payments to them, make copies of those payments and send them, religiously, to your Attorney General and other agencies you may respect. 3. Contact your local authorities dealing with taxes and or insurance. Write a letter to them (use Certified mail so you can keep a proof) and explain you are dealing with a predatory and abusive institution (Freedom of Speech and Abundant Proof). Ask them to let you know how are you standing in the payment of your taxes and/or Insurance. Get ready to make the payments yourself in case Ocwen does not do it. They miscalculate escrow accounts on purpose so they may pay the difference if they decide to pay your taxes. By doing this they will raise your monthly payments to compensate, expecting you not to be able to keep up with the higher payments. Or they might decide not to pay any taxes at all so they can take your house by surprise later on. So, best thing to do regarding this, go to your local authorities directly because Ocwen is not out there to protect the consumer, just the opposite. They want to hurt you big time.3. Contact the IRS and tell them you are paying interest on your loan. Ocwen say they report to the IRS....But are you going to believe in these criminals?4. Contact the 4 credit bureaus: Equifax, Experian, TransUnion and Innovis. Write to them (use certified mail again) and send them proof of Ocwen's wrongdoing. You will have to wait 30 days and chances are Ocwen will not fix it (they got to be true to themselves). Then, write a Consumer's Statement for all bureaus making clear Ocwen refuses to correct their wrong reporting. I DID THAT. They want to destroy your credit so you declare bankrupcy, and you know the rest...So, keep the rest of your payments okay and on time (eat lettuce or rice only or get a second or third job if you need to). Their bad reporting about you got to be the only one bad in your entire credit reports.File a complain with the FTC because they are violating your rights under the FCRA, send a copy to your local people, and to Washington. 5. Write to them and make copies of your letters for other decent institutions. Yo need witnesses!6. Finally, it is perfectly SANE to feel and behave as a PARANOID with this company. Their crimes are real and the pain they can give you is also very real.Good Luck.
Submitted: 10/12/2002 3:19:23 PMModified: 10/7/2003 12:10:01 AM
carmen orlando , Florida
Ocwen Bank, working with the enemy, unprofessional, illegal activity, no regard for employees rip-off to their customers.
I became employed by ocwen on march 2001, and previously had experience in the banking industry I had never seen such an unprofessional management at Ocwen, since I first started working there I found that they are all about promises but never follow through, let me tell you my super experience with a supervisor from hell, I was constantly harassed by this supervisor in collection dept 30 plus you should know who she is they call her Lucifer that's how good she is and still is, this person had several complaints from employees, customers and other team leaders about her attitude and treatment to other people but upon until now she still works there and nobody has done anything about her she is very vicious person and like to create stories to hurt people, I am a single mom too and I was in her team too, and from the first time she saw me started giving a lot problems she never sat down to help me, or give me any advices about my work,I let her know from the beginning that I didn't have nobody to take care of my kids when they were sick because their father didn't want to help, also she knew I had a lot of court days because of me ex-husband for mediation, she knew what I was going through her words were we will work on it as the time goes by don't worry about it I will help you, but she never kept her word, on march 2002 she called me at the office with another supervisor telling me that she is giving me a warning because I was talking unexcused days too much, every time I request days off she will give and then end up back fired on me, every time I will bring doctors excused and also will work extra hours to make up time she will say that's fine, in spite of everything she didn't care and gave it to me, I know that she had favoritism with other people that came late every day and were never at their desk but she didn't do anything because we know she always went out with them to drink or dance, this very disgusting and very unprofessional, In may of 2002 a friend of mine told me that to watch out because she heard her supervisor talking with this person that to please fired me after being moved to her team, she was convincing her to fired me because of abscesses, but I concluded that she is retailing against me because in may of 2002 she called the manager of our collection dept 30 plus and her she didn't tell him what it was about, my manager ask me what happen I explain him everything about my situation with schedules, my children and the reason why, I previously went to him because she didn't want to moved a day to work for one hour for my kinder garden meeting teacher day and he knew what she was doing to me her excused was that she didn't want to lose her bonus this month, (talking about caring) she was very upset in may because everything backfired on her boss told me that was going to change my schedule, from 8:30 to 5:30 so I can go pick up my children, and no working weekends because of daycare also on Fridays work until 3:00pm I agree because I was very sad with the situation because she never took the time to help me instead was trying to get me fired.He said that I was a good worker and he knew I had a good attitude towards my work, even though I was going through a lot, he said I am going to help you Carmen don't worry, and I worked for a month and a half with no problems and was always on time, but in June 10, 2002 my new supervisor influence by her called me to human resources to fired me because I used too many unexpected sick days, I didn't say anything because I was waiting for this since she was mad that her boss let her down by helping me, but that's not all after 3 months taking unemployment benefits now they are saying that I had a problem with misconduct which I don't understand they said that because of taking unexpected unplanned pto days but how sarcastic is this my last check that I received dated 6/21/02 had overtime paid 14.25 hrs and (PTO PAID 9.50 HRS) hello how stupid this people are didn't she said that I didn't have no more unplanned pto this people are a bunch of liars, the only person that is decent there is my ex-manager the only person that really care about my situation and I am very thankful for what he did for me and my children, now I am still unemployed trying to find a job but unfortunately companies are laying off instead of hiring them, now Ocwen wants to cancel my benefits because they can't pay all the employees that Ocwen keeps firing them, what really happens is that this company is moving to India by December and they want to save money, also they have so many law suits from customers because of there treatment and rip off practices they have over 1.5 billion in recovery, and that's why they want to save money by lying to the unemployment office and putting complaints about employees that work for them and want to get away with it because we are in Florida, no way José we have rights and any employee whose not working there or have had any situation similar or situation with Ocwen please contact me for a complaint with EEOC, and have them investigate and hopefully make them pay for pain and suffering that they have cause to our families.... thank you for your time, but I am very frustrated I know how the customers fell about Ocwen now and is true because I experience it on my own, (imagine you think that if they don't care about customers you think they care about employees, not really ))))
Submitted: 1/6/2003 2:21:03 AMModified: 10/7/2003 12:10:01 AM
,
Breaking News Update:
'Plaintiffs in the Hanson v. Ocwen case file papers to disqualify the judge, because (according to the papers publicaly filed in the federal court clerk's office) it turns out that the judge used to work for the law firm representing Moss Codilis, which constitutes 16 of the 20 defendants in the class action lawsuit.' No indication when the Judge will consider the motion, or if he will feel obligated to pass the motion on to another judge to decide. It will slow our case down briefly, but thereafter, whether the judge is forced to step aside or continues handling the case, the case will move forward quickly, as we have meticulously shown why there is no justification for the case to sit still as long as it has.
Submitted: 2/1/2003 8:14:45 AMModified: 10/7/2003 12:10:01 AM
Ocwen EmployeeOrlando, FloridaU.S.A.
Leader of the Pack has no Credibility
As an employee of Ocwen Federal Bank, FSB, I along with all of the other employees try my very best day in and day out. After reviewing the comments included within this report, I feel that the leader of this pack has absolutely no reason to file a civil action. When someone signs a mortgage note, they agree to pay back the funds that have been borrowed in a timely manner. This has not been the case with this individual. And like any company, when you are late you will receive phone calls and letter correspondence from the lender. I do have to say that I don't agree with everything Ocwen does, but I am an employee that goes to work to make a substantial difference. I am a little disturbed that some lawyer that likes to send rubber checks tries to tarnish my company and it's reputation. Word of advise Mr. Hanson - if you don't want to pay your bills that you are under obligation to do so, then don't cry about it. I really hope that my company decides to counter-sue you for wasting a lot of people's time and energy. Save our time for people with legitimate issues, and I will be the first to admit there are a lot out there. Now that I have seen this report, I will follow-up with the connections that I have within the media to see what kind of credibility that Mr. Hanson truly has. I think that a new report should be entered - Crooked Lawyers that like to rally individuals up and won't have any follow-through.I really feel sorry for your supporters, because some of them have legitimate issues and you are wasting their time here.
Submitted: 2/1/2003 6:07:34 PMModified: 10/7/2003 12:10:01 AM
Kweku HansonHartford, ConnecticutU.S.A.
To the Ocwen employee above
You tried to post garbage about me to the RipOffReport website, huh? Bounced Checks from the Leader of the Pack? Thanks for the compliment of identifying me as Ocwen's Public Enemy Number One. All my original checks paid to Ocwen are in a vault in some bank closer to your headquarters than you probably imagined. Plus, my regular bank has electronic copies. Plus, my lawyers have hard copies. Try something more dirty, like spread a rumour that I am actually a sleeper-cell member of Al Qaeda or related to Saddam Hussein or something like that. But don't try something infantile like trying to sway the hundreds of irate victims of Ocwen. Guess what, whithout even knowing me, they sent me all their financial details and PROOF of THEIR canceled checks, Western Union Quick Collects, etc., to show how Ocwen was stealing their monies. They are waiting to come up to Hartford to testify against Ocwen. So no matter what rumours you plant on the web or in one-to-one phone calls about me, they know better. They have been raped by YOU GUYS, not me. They could care less if I never paid one cent of my mortgage. Get it? All they care about is that someone is trying to topple the theives at Ocwen!Congrats! Ocwen knows darn well that my lawyers have the goods on it, and that WE SHALL WIN THE FIGHT BOTH IN THE CIVIL COURTS AND THE CRIMINAL COURTS AGAINST OCWEN. The FBI is hot on your tail; several Attorneys General are peeking over your walls. MANY of your employees have already squealed (and you know this) and we have ALREADY DISTRIBUTED THE PROOF OF YOUR CROOKEDNESS TO THE FBI and Connecticut State Police.So keep plotting my ruin (but make sure you don't suffer the fate of Fastow and other white collar crooks while you are about it). Enjoy your dream digs while you can . . . . Judgement Day is coming for you.And it does NOT help you to buy employee silence by threatening them with lawsuits if their names come up in our lawsuits. We will simply depose 50 employees in random order and keep you guessing which 25 of them are moles or informants. Or, we may even reveal the moles to you in the next two weeks. As my lead lawyer said to you in court: Ocwen will turn as red as a boiled lobster when it discovers how much DIRT its loyal, HIGH-RANKING employees sent to us.You know I have NEVER EXAGGERATED to date in this lawsuit. I say what I mean and mean what I say. If I say there are moles alive and well, I mean exactly that. If I say they are high-ranking, i mean exactly that. If I say the FBI has ALL the info shared by the moles, I mean exactly that. If I say Lief Cabraser is going to sue you in an even bigger national class action shortly, I mean exactly that. You can buy or kill-off or scare away some of the people some of the time, but you cannot buy or kill-off or scare away ALL of the victims and law enforcement personnel ALL of the time. and that's the good thing about GOD, the one who frustrates Osama bin Laden's plans; the one who decides when even astronauts will live and die, and the one who decides when fat cats will have to be retired to a federal penitentiary.leagltek@mindspring.com
Submitted: 2/2/2003 12:02:13 AMModified: 10/7/2003 12:10:01 AM
JonSan Diego, CaliforniaU.S.A.
It's All About Credibility!
To the Ocwen employee that posted dribble above! Are you really so obtuse that you actually think we would give your words second's thought! Believe me... if I were in your shoes, I wouldn't have signed my name to that post as well! Or could it be that you just don't know how spell it!
Submitted: 2/2/2003 2:12:55 AMModified: 10/7/2003 12:10:01 AM
DavidWestbury, New YorkU.S.A.
To The Spineless Ocwen Employee...
Pretty bold of you to hide behind a generic name like 'Ocwen employee' and libel someone by claiming they write bad checks. I can only guess that you didn't give your name out because (1) you are a coward like any other low-level racketeering criminal and (2) Ocwen doesn't pay you enough to afford an attorney should you get sued for libel by Mr. Hanson. If you had any backbone at all and truly wanted to help people and these customers, you would stop whoring yourself by thieving for this pseudo company -- and thus stop helping the Erbey Brothers get more money to throw more cocktail parties to buy off more whoring politicians -- turn all the evidence of wrongdoing over to the proper authorities, and a certain attorney you just libeled on here, and get yourself honest work. Otherwise you're just another mealy-mouthed, babbling idiot that's only aiding and abetting these con artists in screwing over your fellow Americans and adding to the sorry shape this country is already in.
Submitted: 2/2/2003 8:07:54 AMModified: 10/7/2003 12:10:01 AM
KwekuHartford, ConnecticutU.S.A.
Ocwen Federal Judge Sets Feb. 4th Court Hearing
The federal judge hearing the putative nationwide class action lawsuit against Ocwen last week set February 4th (Tuesday) for an in-court hearing on my motion to for that judge to disqualify himself, based on the fact that he used to work for the same law firm representing the sixteen Moss Codilis defendants in the Ocwen lawsuit, and this information was not disclosed to the Plaintiffs by either the Judge or Moss Codilis lawyers.While it is unusual for a judge to call a hearing on a motion for recusal (judges, in my thirteen years experience as a federal court litigator-attorney, and based on my lawyer's reserach, typically decide the motion on the papers), my lawyer and I are going to be in court in Hartford, Connecticut on February 4th to see what the Court decides to do on this issue.All I know is that if the tabels were turned, Ocwen and Moss Codilis would never permit anyone who worked for my law office or my lawyer's law office in the past to sit on the jury or in any shape decide this case.To all who have been praying for me and/or been otherwise supportive as I come under personal attack by the klpetomaniacs at Ocwen, thank you. I take it as a sign of desparation within Ocwen circles that despite all their muscle and despite having stolen our monies, they have still not been able to knock out our lawsuit. And I assure all of you, we turned over criminal evidence to the FBI in October last year. We got that evidence from persons working at Ocwen's Orlando Facility, some of whom still work there, despite aggressive efforts by Ocwen to find and fire them. Sign up for WebPacer at http://pacer.psc.uscourts.gov/ and keep track of how this lawsuit is going on a daily basis.Thank you again, Kweku Hanson
Submitted: 2/2/2003 11:57:03 AMModified: 10/7/2003 12:10:01 AM
MercedesMiami Lakes, FloridaU.S.A.
Ocwen Employee or the Thief Supporter? ..Shame on you!
For your information, Ocwen's 'employee', Mr. Hanson does not have any supporters as you say. It's just the opposite: He is supporting us. He is our Supporter, your company is our Enemy. And you defend what is undefendible...Shame on you! If you ever consider a counter-sue don't forget to include my name in it (I'll ask Mr. Hanson and others to provide all my information). I, and too many others, will be on Mr. Hanson's side. His side represents: HONOR, COURAGE, and AMERICAN DIGNITY. Your side is the side of CRIME and SHAME.By the way, I understand your preocupation about Ocwen's reputation; but that is an exercise in futility. You can not repair it.Ocwen's reputation is already DUST. Ocwen's reputation...Ha,ja,Ha,ja! Good joke.
Submitted: 2/5/2003 3:59:28 AMModified: 10/7/2003 12:10:01 AM
ElizabethMcHenry,, IllinoisU.S.A.
Run To The Media And See WHO Gets Exposed
Since you are so brave to threaten to run to the connections claim you have within the media, but not sign your even your first name as other Ocron employees have, PLEASE do all of us VICTIMS (not supporters) a favor and go to the them and let's get this on the airwaves. Let's see WHO is exposed and for what. You may not get what you wished for.You talk credibility, here's some I'd like to see. How about an actual contract with OcRon stating that they hold the mortgage on my home? That's right. They BOUGHT my mortgage from HUD in March, 1996. To this day, I have not received any papers proving there was a legal transfer of the mortgage. Could that be why when OcRon forced me in Chapter 13 to keep from foreclosure, they fought it for 14 months? The whole time they fought it, they were gladly still accepting my monthly payments. Yet I don't even know for a fact that they DO hold my mortgage. Another one of your fellow CREDIBLE OcRon employees stated above that you should read our closing statements carefully. Well, I did when I bought the house originally. But that became null and void when HUD took over assignment in 1994. It took them 6 months to accept it, already putting me in arrears. When HUD sold my mortgage, I was given Ocron's name and phone number. That was it. Not a word from OcRon. I had to contact them so my first payment wasn't late. I think almost 6 years is FAR past the 60 days the law allows for them to contact me with notification and the papers to sign. All I've ever signed are forbearance agreements EVERY SIX MONTHS.Then lets talk about how credible it is to charge $90 in legal fees for a 'late payment notification' that was NOT from Moss, Codilis, but on OcRon stationery, signed from their 'Performing Loan Department' and signed by NO ONE. I could wallpaper a room with them from payments that were 'lost in the mail' or posted weeks after they were sent. It seems funny that any payments I DON'T send certified, return receipt requested manage to get lost.This is really credible. For 5 years, OcRon sent me 'substitute' 1098s to show the amount of interest and property taxes paid. But on their very own web site, it shows that they understated the interest to the IRS the first year and never reported the amount for the next 4. Last year I received a REAL 1098 only because I reported the correct amount of interest paid in 2000. Can you say 'tax evasion'? The amount of interest they show paid on that fabulous site shows they paid more in interest to the IRS than they claim I paid. How odd. Good thing they put a disclaimer that they don't guarantee the information on the sight and that it's open for personal interpretation. Then why have it if the information is unreliable? I could right a book about OcRon's non-credibility. But the last one is OcRon breaking not only Federal Banking Laws, but their own SOPs when there is a hazard claim. By law and their SOPs, the house was to be inspected before the work began, when the work was 60% complete, and when the house was finished. They gave $30,000 of insurance money sent to them, signed by myself and a contractor that has the same moral fiber as your bosses, without ever ONCE having my home inspected. They have reports from the inspectors that OcRon contracts with that they never had access to the house and couldn't see in windows that had newspapers covering them. They used the falsified form from the contractor used as proof the work was done and I was satisfied. Funny, I don't remember ever being notified of one single inspection date. After the last $10,000 was sent to the contractor, that was the last I saw of the contractor and the money that was to pay the sub-contractors. I called OcRon, and they gave me different stories from it being my fault, to it was such a small amount to hold ($10,000 is small?), to he harassed us so bad we sent it to him to leave use alone. He disappeared and we later were served papers that he filed for bankruptcy.Well, how about your supposed media friends meet with a real investigative reporter for one of the 3 major networks that I know here and see who comes up with the 'credible' information. With the many people I've seen on here from my neck of the woods, he'd get plenty. Can you say the same?Hope you have a resume handy. By the way OcRon's stocks look and all the lawsuits against them, you'll probably be out of work soon.
Submitted: 3/21/2003 1:35:59 PMModified: 10/7/2003 12:10:01 AM
MalinaSt. Marys, OhioU.S.A.
No info received from Ocwen when they bought our loan from Rebublic Bank
I realize that in the past I have not paid attention to personal finance like I should have. When Republic Bank sold our loan to Ocwen several years ago, we never got a letter from Ocwen stating that they were now servicing my loan, all we received was a statement! Should we have received a new contract from them? I can look at this situation now and see that the payoff amount on this loan really isn't declining as rapidly as I thought. Can they have changed terms and not notified us? I do know that when I have called them with questions (except for one time when I got someone who was actually pleasant knowledgable and helpful), no one seems able to help me or I have to call a different phone number altogether. Why give me a number I can't use? It does also seem odd that it takes so long for a check to arrive (10 days???!!?) before it gets posted to my account. I will be going back through all of my records now and checking everything to see that we weren't charged fees that we should not have been. Thankfully, we are almost finished with Ocwen, but maybe my information will be of help to someone else down the line.
Submitted: 3/23/2003 9:34:01 PMModified: 10/7/2003 12:10:01 AM
Kweku HansonHartford, ConnecticutU.S.A.
OCWEN FELLOW VICTIMS, HOLD OUT HOPE YET! ..FBI is on Ocwen's tail.
I am the lead plaintiff in the $1.5 BILLION class action lawsuit against Ocwen and Moss Codilis mentioned here.I am breaking my silence to leave some words of encouragement. Fellow Ocwen victims, please take heart. All your countless Affidavits and records showing that you indeed have been ripped-off have not just gathered dust on my lawyers' shelves.We have had delays not off our doing in this lawsuit during the past eight months. We are now confronted with a discovery schedule that does not give us enough time to depose all of Ocwen's folk we are prepared to question under oath.However, the numerous Affidavits many of you have sent in, and the FAITH many of you have kept even as Ocwen was breaking down your doors and taking or trying to take your homes and health, and even us Ocwen was bombarding me with computer viruses, trojan and stealth programs and other garbage, is going to bear fruition.It is time for us to counterattack. My lawyers are polishing their JDAM missiles to strike back (if you will excuse the war analogy). Very soon, we will sock it to these folk, who daily monitor this website with apprehension in their hearts. I have stated here many times that the FBI is on Ocwen's tail. Believe it guys, even if you see nothing yet. I have stated that my lawyers have compiled enough proof so that no matter who tries, we will get it before a federal jury sooner or later, and in a class action lawsuit.2003 is going to be the year of victory for Ocwen's victims. You read it here first!leagltek@mindspring.comPS: THANK YOU Rip-off Report for all your help.
Submitted: 4/13/2003 4:58:56 PMModified: 10/7/2003 12:10:01 AM
JillianOrlando, FloridaU.S.A.
What's really going on... Ocwen management does not give the employees the means and facilities to accurately assist borrowers in the manner in which we should.
Alright everyone, here are some tips on what really goes on at Ocwen. I have worked there several years (I still do), and I have worked in several different departments. Ocwen management does not give the employees the means and facilities to accurately assist borrowers in the manner in which we should. For example those who work in the customer relations department only have a limited amount of time to assist the borrowers on the phone, then they are repremanded if they go beyond that timeframe. Employees are treated with disrespect and disregard in just about every aspect of our jobs. To Ocwen management we are mearly automatons to make monthly numbers high so mangement can receive a large yearly bonus. The accuracy of the task does not matter, numbers only. Unless, of course, a problem is elevated to a government agency. Only then does management care how accurate the work is. And, in order to save money (no employee below management level knows why) Ocwen has moved many of the job functions to India. Upper management wanted cheap labor, and that is exactly what they got. It is rumored that these people make about $1.00 or $2.00 an hour, compared to Ocwen's American Employees, at anywhere from $9.00 upward. If you call the customer relations department and speak to someone with an accent so heavy that you can't understand what they are saying, you have reached India. And, it has come to our (employees below management levels)attention, that last year, when reporting to their investors, Ocwen management lied about the 'India Project', saying that only about 20% of customer service functions were sent to India. It's more like 80%. I apologize to all of you who have had to deal with Ocwen. There are those of us who strive to do things the 'right way'. But, at Ocwen, Numbers is the name of the game, not accuracy. So, keep up the good work in trying to make them accountable. Maybe one day soon, all of us will get to work one morning and the doors will be chained shut. Good Luck!!
Submitted: 4/26/2003 7:50:23 PMModified: 10/7/2003 12:10:01 AM
TriciaAltamonte Springs, FloridaU.S.A.
Ocwen told me when I worked there...
that it is in their best interest to get the house from the account holder. They will be able to make more money selling it than to work with the people currently in the house. Apparently, they make side arrangements/ kickbacks with realtors.After reading all of these stories, I believe that has to be on their unpublished mission statement because all of their efforts seem to be concentrated on getting consumers out of the house.Maybe there is a gargantuan cover-up going on. I don't know for sure, but what I do know is that I'd rather be homeless then have to owe Ocwen a dime. They are beyond shady, they are heartless.
Submitted: 4/28/2003 8:03:00 PMModified: 10/7/2003 12:10:01 AM
CharlesNorth Haledon, New JerseyU.S.A.
We will not give up so easily!
We are behind you (Kweku), 100%! As far as dealing with Ocwen or being homeless, we will keep fighting. You can't just give up and decide to be homeless. I don't know about you but I have a family to think of and we won't give up that easily. We will overcome this atrocity named Ocwen. Our faith remains strong and our prayers are with Kweku and all who have suffered as we have because of the criminal acts of evil Ocwen. We will overcome! We will defeat Ocwen! We believe in you Kweku! Thank-you
Submitted: 5/2/2003 3:13:11 PMModified: 10/7/2003 12:10:01 AM
ShawnOrange, CaliforniaU.S.A.
Tried to help many borrowers .. Ocwen working to shaft the borrowers
I am a private investor who has tried to help at least half a dozen OCWEN customers try to 'cure' their loans and not lose their homes. The Moss, Codillis 'loan resolution' specialists won't even return my calls. The only solution they offer these people is foresclosure or a short sale working with a Realtor. I have to believe that they are working to shaft the borrowers. Good luck with the lawsuit.
Submitted: 12/12/2003 12:22:16 PMModified: 12/12/2003 11:34:14 PM
MichaelModesto, CaliforniaU.S.A.
Wondering where to locate an attorney in California against Ocwen
I am a loan officer and time after time, I run into people how have Ocwen as there mortgage carrier. They come to me begging me to help them get away from this horrible company. More than a few occations, I come accross an individual with a credit reporting and payment posting problem. I have a current customer that I am working to refinance and he is under the same situation. He has made most if not all his payments on time and regardless how early he sends in his payment, Ocwen reports it late, now they've put him into forecloser. I've done some research and it seems nationwide that Ocwen and their customers are having this problem of misapplying payments and reporting foreclosures premature without the facts straight. I'm sick of this companies servicing and companies alike. We used to sell our loans to Ocwen to be serviced, but after complaint after complaint and non compliance, we withdrew our contract with Ocwen and we no longer sell our loans to Ocwen to service our loans. This company should not be in business. The line needs to be drawn. My question is, where can I locate an attorney here in California, so I can refer clients to? Ocwen is obviously a preditory lender and they need to either change or go bankrupt. This all needs to stop. The Federal goverment needs to yank their licensing and they need to reimburse everyone that they have ripped off. To help my customer, I have referred him to a debt attorney in fact. They are a credit repair agency, but that to me isn't enough. Ocwen owes him some money for unjust late fees and suffering. He can't get credit at any institution without an outrageous interest rate. Why should he or anyone suffer for Ocwen's mistakes? If anyone can offer me any information on a attorney that already has an ongoing case, that will be very helpful.
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