Complaint Review: Ocwen Federal Bank

Ocwen has some serious issues that need to be investigated. I was the owner of a property in Ft. Worth, Texas and I owner-financed the property in July 2002. In October 2003, I sold a PARTIAL of the loan to Metropolitan Securities who used OCWEN as their servicer.

In August of 2005, I decided to sell the remainderment and the mortgage broker that I was working with called Ocwen to find the status of the loan. He was told that the property was put in foreclosure in April 2005 and it was now in the REO of OCWEN.

Ocwen NEVER notified me of this foreclosure, despite that I had rights to repurchase the property and they were required to notify me. They stated they sent me a letter but they sent it to the wrong address even though they are in possession of my current address and phone number.

The mortgage broker that was trying to help me had the same thing happen to him involving Ocwen. He had a property that he had a remainderment on and they foreclosed on that property without notifying him as well.

Ocwen is trying to leave me out of the loop and I have over $83,000 in remainderments on this property. I have repeatedly called Ocwen and each time I get the run around, transferring me from one department to the next. I have been put on hold with no one ever coming back on line. I have "spoken" to customer service representatives that I can barely understand and have had to ask them to spell things because I can not understand their "english".

Ocwen has seriously dropped the ball here, or is this their customary business practices? I asked for the breakdown in costs that they SAY they have incurred and there are so many ridiculous charges on there that they can not explain or REFUSE to explain to me.

I did not realize how crooked this company was until I found out about the foreclosure and then consequently Ocwen refused to help me. It was then that I went on the internet and saw all these lawsuits against them. Can anyone tell me what they are doing and who to contact about this scam of a company?

Kris
Miramar Beach, Florida
U.S.A.