Complaint Review: Ocwen Loan Servicing

Dear Consumer,

I have experienced nothing but hardships from the Ocwen Loan Servicing LLC. First of all I didn't even get to choose this company, my loan was unfortunately transferred to them. In the midst of my mortgage with this company I changed banks (from Bank of America to Schwab, highly recommend schwab!). Unfortunately you can not set up automatic payments over the internet so I had to send in a form. I filled out the form electronically so I know the forms were exactly the same and were in the same envelope so I know they received them both.

One of my loans has gone forward without any issues however the 2nd loan missed 2 payments because of their inability to set up this process properly. I had numerous conversations on the phone to fix this and 2 months later they were finally able to process the payments. It is hard for me to comprehend how they are unable to set up a payment for a 2nd loan from an identical bank account.

I incurred a number of late payments and a negative reporting to the credit bureaus. I wrote a letter to customer service for them to rectify this situation by crediting the late fees and fixing my credit and all I received back was a letter basically stating that it was my fault and they have an "obligation to report the truth to the credit bureaus". I have not missed a loan payment in my life but all of a sudden its my fault because they can't process 2 identical automatic payment forms (except for the 2 different loan numbers).

So I am about to purchase a new home in the next 6 months and because of Ocwen's incompetence I will have to pay a higher interest rate.

Thanks for all your help Ocwen!!!!

My lawyer is in the midst of contacting them so we will see if they have a better response this time.

Sincerely,

Extremely frustrated
.....

Roberta1976
Houston, Texas
U.S.A.