Complaint Review: Ocwen Federal Bank

We were having problems with late payments and we did call Ocwen to protest-but of course that was to no-avail. We have been sending our payments return reciept requested and the payments have been recorded on time now, but we are also paying more for postage than we should be.

We had asked once to refinance and they required a $300 non refundable fee. We decided not to go that route since it seemed a gamble whether we would get the refi or not. So now we want to refinance our first mortgage which is a VA mortgage. ( For lower interest and payments)

This would seem to benefit Ocwen since they are currently in the second mortgage position, Lower payments on the first would ensure Ocwen of thier payments. They at first told us they would need a $285 non refundable subordination fee.

When I recieved the paperwork from them it stated on two different sheets the subordination fee would be only $200. So we went ahead to refinance our first mortgage- low and behold! our subordination through Ocwen was denied!

We are appealing and I have notified the Better Business Bureau- I just can't believe we have no control of our mortages being sold to irreputable companies!

Jani
Rio, Wisconsin
U.S.A.