Ocwen Federal Bank Have cancelled checks for the last year account not credited properly was reported 90 days to credit agencies Los Angeles California
My loan was transfered for Delta Funding. I have been reported as 90 days late to the credit agencies. I called Ocwen for 8 months and finally this month 6/02 was able to reach a supervisor. I have the cancelled checks as proof and even Ocwen confrimed payments in excess of the contracted amount. However they still refuse to remove the negative reporting from the credit agencies. I found out about the negative reporting after applying for a home loan. They are still damaging my credit without any explanation.
Be very aware of this company, they will not credit your accounts properly and report you as late and will correct the mistakes to the credit agencies. They will harrass you by phone day and night even though your account is current.
They will try to generate false records to cover up rather than correct their mistake.
Charles
Duluth, Georgia
2 Updates & Rebuttals
marlene
miami,Florida,
Reporting your payments to the credit bureaus will no suffice
#3Consumer Suggestion
Sun, September 22, 2002
Ocwen fails to properly report my payments too. They do not show that I reduce my principal every month. I constantly disput it. I send proof to the credit bureaus every 30 days. It does not work. The credit bureaus take the matter seriously but Ocwen freshly declares the information I provide is not true and makes them believe I am taking some extra money, so my principal balance never goes "down" . The CRAs are in the middle and can't do any better. They are not able to challange Ocwen's answers. It is not their fault.
First of all, do not believe anything Ocwen tells you (it will never be true). Get witnesses for your payments. Send them the copies of your checks and make letters with those copies for your General Attorney, the FTC, your State Finance and Banking Insitution, and for any other agencies you may trust.(use Certified mail for all your correspondence)
Keep copies of your monthly letters to them. They might not take those letters with your copies seriously now, but they will do it if you get yourself a lot of departments as witnesses and keep records.
You might also use their electronic transfer offer. They have a license "to transfer moneys" and another license to "collect fees". So, The Bank of Hell will love the extra $10 and this will not hurt you too much if you keep proper records of those "imposed" fees too, for your future defense. Never send them anything using 1st class regular mail. That is an absolute NO-NO when you deal with these abusers. They might let the money rest in your bank account for a week or so to aggravate you and take some other gain. The money has to be there the day you make the payment. If the amount for your payment is not complete they will take it the same day out of your bank checking account to make you guilty for lack of payments, responsible for late fees. They might not accept your offer to complete the payment later, and...name it...Foreclosure is their favorite word. Then, they will surely and happilly report your "bad" payments habits to the credit bureaus.
They never report your correct payments because they want to destroy your credit and eventually leave your family homeless. If they report you monthly "pays as agreed" they will not report your "current umpaid principal balance". At the end, you will be reponsible for a lot of "umpaid" fees and may be other monetary obligations. Remember they have a lot of investors and have their unique "tying" practices. Other banks practice "tying" by offering the homeowner some conveniences. New Century and his Equal, Ocwen, practices "tying" without your knowledge and harming you with very high costs, "flipping", horrendous "terms", and superb "Customer Dis-Service".
Have only one checking account for that purpose. Do not give them more financial information about you.
Do not send prepayments expecting they will apply it to your principal. They are thieves, remember. Why should you send them extrapayments that will never be applied to your account? Put those extra payments in a saving account, instead. The money will be there when you need it later to refinance or defend yourself from their "sudden" attacks.
I am latin and not educated, my financial means are very poor. The media says these predatory institutions take better advantages of minorities or people like me. I have noticed, my very beloved anglo brothers, that the opposite is just true.
Since I only have my single home I can not afford to let them take it away from my family. Since I was not raised in this country I don't take democracy for granted.
Since I came from a country where the "law" has no value, Ocwen does not take me by surprise. Of course, finding this in America is surprising, but their abuse and cruelty are not unfamiliar to me because I have experienced those things in my country of origin.
Because of this, my very beloved anglo brothers (you will never realize how much I love "the land of the free" and their generoud souls) I believe that you Anglo, better paid, and more educated people are more easily victimized than minorities for these unethical banks.
You do not expect it! You don't realize it on time and then, you find it out when it is already too late! Please, take this into account and fight with all your strenght for your homes!
Preston
Cleveland,Ohio,
Report it to your CRA's
#3Consumer Suggestion
Sat, September 21, 2002
If you have been paying on time you should be able to dispute the matter through Equifax, Experian, or Trans Union. If you have the cancelled checks along with the loan information and can prove that the payments have been made on time, then you can dispute them on your credit report and have the information cleared. This should help keep your rating up.
And if OCWEN isn't reporting that you are paying on time and you are... I believe it is called fraud.
Hope this helps.