Complaint Review: OCWEN LOAN SERVICING

My husband and I have been a victim of fraud. In February 2013 we signed a Purchase and Sale agreement for a 2 family home located at 35 Woodland Avenue, New Rochelle, NY 10805 and still do not a decision from the short sale bank.  The property is a short sale. We have been ready to close since May 2013. The seller’s mortgage was taken over by OCWEN servicing company in November 2013.

Our commitment letters have expired because of delays occasioned by OCWENs lackadaisical underwriting of this short Sale request. OCWEN is proceeding in bad faith and it is not timely complying with Request for Mortgage Assistant [RMA] request for a HAFA short sale; I will seek sanctions for such bad faith. 

We have provided current bank statements proving we have the balance of funds needed to complete down payment and any closing costs we will be incurring. We have proved we are buyers that are ready, willing and able to buy on numerous occasions. Everything the lender has asked for has been submitted. We have complied with every request, and every request was designed to delay.

The property OCWEN has had 2 interior Broker Price Opinions [BPOs] on is partially renovated. Homes in better condition have sold for less than $600K on the same street. We are offering $525K and have had to wait for auction with no deadline.  After months of “we need bank statement X and pay stub Y” the property is now going to an auction with no expiration date.