Complaint Review: Ocwen

I have written to the OTS office in New Jersy 4 separate times. The first time I receive the same snotty response as almost everyone else here has. They see no wrong doing with it's problem child OcRon. The othe 3 times, I never got a response. I would call there asking about my letter and what was being done, and it magically disappeared. Please resend the information. Why? So they can claim they never received it again even though it was sent priority mail?

This is something interesting I read about Mama OTS and why it may be turning a blind eye to it's problem child OcRon. The OTS is funded by assessments and fees levied on the institutions it regulates. That in itself speaks volumes. So just like the Better Business Bureau is funded by the companies it is supposed to correctly report on, Mama OTS is funded by the same institutions she's supposed to be regulating.

Do you possibly believe that her Baby OcRon has NOT paid them a little extra to make sure our letters and proof of wrong doings are always unfounded or magically disappear like so many mailed payments to OcRon do? I wouldn't put it past them.

Plus there are some other factors that have to take place. I have been here since 1988.

So, Marlene, how do I get my name on the Deed when I never signed anything? Don't I have to "qualify". However I know I would, I then could refinance. But, I WON'T because I WILL NOT refinance with arrearages that are NOT mine. Now, if I could purchase the home again with my other social security number, that would be great. I could use my maiden name....

Any suggestions anyone?

Hi, Marlene,

I have read several of your posts on this site and have questions.

First, I would be interested in seeing both the letter written by you to the OTS as well as the response from that organization. Something stinks to high heaven about these companies and I feel that enough public information may help unlock the puzzle.

I am not directly engaged in dealings with any of these companies which puts me at a disadvantage as far as trying to find out where the "errors" are originating during these transistions. Do you have anything about that situation? Is OCWEN indeed under the direct supervision of the OTS? I have been unable to find any Federal agency that will admit to supervising these companies.

I can understand your feeling paranoid; that is EXACTLY how these companies want you to feel. I have a strong suspicion that there are company guidelines in place with these various companies that outline the precise moves to be made in order to create that mood in the account holders. It would not surprise me to find that these guidelines are in written form in these offices; if not, they are certainly covered comprehensively in training for new employees. Their constant and unceasing phone calls to people's places of employment, the homes of account holders, and their relatives and friends indicates a deliberate intent to keep the pressure on. Their tactics are designed to work so that people will eventually become demoralized and simply walk away from their own homes in utter defeat at their inability to "feed" this endless black hole enough to ever satisfy it.

I also understand that this site has been used (or attempted to be used) as an "intelligence" gathering post for these companies. Let me assure you that I am in no way connected with any of these companies. I am simply a citizen appalled by the mistreatment of other citizens by institutions that do business with our Government. I am amazed at the inability of account holders to gain access to their own account information in order to defend themselves against bogus charges and incorrect credit reporting. I am angry that entire families are homeless due to the greed of these companies. I am sickened by stories of elderly people put out of their homes of many years at the whim of these domestic "Saddams". There is no difference in my opinion between bombing a home or taking it by manufactured fake foreclosures. The end result is the same.

I am not a lawyer, but I am a somewhat literate American citizen who is not afraid to write to any and everyone up to, and including, the White House. I have seen enough on this site to show me very clearly that account holders with any of these servicing companies are being held hostage mentally and financially by groups employing terroristic tactics. Their unwillingness to work with anyone is telling. The fact that they employ these tactics in direct violation of the Fair Debt Collection laws and are allowed to get away with it is telling. The fact that they do not follow through on forbearance agreements, file bogus statements to the IRS, and generally lie to their account holders shows clearly that they are not "good faith" companies. They are "profit machines" and are doing very well for themselves at the expense of the American public.

I am a firm believer in the idea that every company is in business to make a profit. That goal is generally achieved by providing good service or a good product to the detriment of the competitor. This results in (hopefully) a steady growth in the profit margin as time goes by. These companies have made huge amounts of money in a relatively short period of time. They are certainly not providing a good product or service.
Their profit is made by ruthlessly climbing over the broken spirits of American citizens as they laugh all the way to the bank. It is wrong and simply not to be tolerated!

If the OTS is directly responsible for the oversight of these companies, it is time to clean house in that department as well. If the American Government is truly committed to ridding the world of tyrants and terrorism, it need look no further than OCWEN, Fairbanks, and all the others on this site! Benign neglect will not out the bad guys, as proven by our country's current difficulties overseas!

Marlene, and all of you involved with any of these companies: Never give up!! Write to those who need to know and can perhaps help you. Call your news agencies. Thieves hate bright lights; shine on them and expose them for the criminals they are!

You are very right. I can not prove it; but I know it. When I say I know it, I don't mean "I think so", I mean I KNOW SO.

Nowadays, I believe HUD is trying to clean his act and is slowly and gradually changing; but Mama OTS bites for her child OCWEN.

I got a letter from OTS and its tone is the tone of a very upset mother trying to defend her child, Ocwen, from me, THE TERRIBLEW BORROWER.

I learned the Attorney Generals congratulated the OTS for been good at fighting predatory lending (So funny!). Guess what, The PARANOID me is going to answer that letter to the OTS with copies for all the Attorney Generals and others to have some smiles in my face because my doctor told me that good humor is excellent for your health. To add more smiles to my face, I plan to post the text of that letter so you can read it too... and the rest of the world.

Thinking seriously, How come Ocwen can do all they do without any complicity with others, for years and years, right here, in America?

Never afraid.

Cyd,

I do not believe that the OTS, HUD, and Ocwen are "in this together" per se. My research into these matters concerning these so-called "servicing companies" has yielded some interesting results.

There was a rapid proliferation of these servicing companies around 1999-2000. Their creation coincides with the Federal Government's announcement that it intended to privatize a lot of it's loan business. That means HUD, VA, etc; choose your program. A lot of these companies use names that imply that they are banks (OCWEN Federal Savings Bank, FairBANKS Capital); I can almost guarantee that none of these institutions hold either a federal, national or state bank charter. Some of these companies are actually subsidiaries of banks (HomEq is a subsidiary of First Union/Wachovia). Banks that have a servicing company house them in NON-BANK susidiaries. Why? TO ESCAPE FEDERAL OVERSIGHT! Banks are subject to oversight by the OCC, OTS, or the state in which they are chartered.

Servicing companies have no real regulation as evidenced by the difficulties outlined on this site; everything with them is a civil matter, meaning that the onus of legal dealings with them falls directly on the home buyer's shoulders. Obviously, that is quite expensive, time consuming, and beyond the means of the average person. Servicing companies seem to rely on this fact to fight their "war of attrition" on their account holders. They pick your pocket to ensure that account holders will not have the means to fight them. They follow a program that is designed to make account holders feel afraid, degraded, abused, harassed, stressed, and mentally and financially broken. These are TERRORIST tactics as outlined by the Federal Government and should not be tolerated in this country!

As for your difficulty finding a lawyer: the lack of regulation in place for these companies makes it difficult to fight them. Any lawyer trying to go head-to-head with them will, in effect, be creating legal precedents. That is the first step in what will be a long and trying battle and you can bet that these companies will fight tooth and nail to keep these precedents from being won.

As for Government-backed loans: any loan taken out through the Feds at this time WILL be handed off to one of these servicing companies due to the privatization effort. Once the loan is passed on to the servicing company, there will be NO Federal help available; file your complaints with HUD simply to let them know what kind of evil people they are dealing with. This is true with any originating lender, be it a bank or other finance company. Once the loan is out of the original lender's hands, they cannot and/or will not be any further help!

I am really disturbed by the "errors" taking place during these changeovers to the servicing companies; folks that have never missed a payment suddenly receive a letter from one of these companies stating that they are at least three months behind. Most servicing companies seem to deal with sub-prime (problem) loans. I have been unable to determine whether the originating lender is "creating" a loan in arrears in order to pass it on or whether the servicing companies are creating these "errors" for their own benefit. (Three months in arrears allows them to start immediate foreclosure proceedings). I keep hoping that someone will actually check into this matter; if a bank is knowingly submitting inaccurate information there is Federal recourse, as this would be highly illegal.

There are too many of these "uncorrectable errors" taking place during transition to be anything less than a conspiracy to create subprime accounts and facilitate immediate loading of past due fees, legal fees, appraisal fees, fees, fees, fees! It's nothing short of extortion! The account holder is absolutely powerless to get these "errors" corrected, which is absurd in any normal business dealings. (This is what leads me to wonder if these companies are being given inaccurate information from the onset. In that case, they would truly believe that the account was in arrears).

The Government IS complicit to some extent by the policy of "benign neglect" that it has adopted toward this industry. It passes the loan on and looks the other way from that point on. It is big money for the servicing industry for sure. This policy is definitely NOT in the best interests of the people of this country. We, as Americans, have a right to demand that our Government operate in a manner that supports our best interests, especially within our own borders.

If you have been put in the street by this obscene bottom-feeding company, please take the time to contact your state Representatives and Congressmen. We may have to take this issue state-by-state initially. I, for one, would like to see these companies blocked from doing business in my state, PERIOD! I do not want to see anyone in my state supporting terrorism in this or any other form! I do not want to see people in the street in my state.

It is a national scandal that decent, hard-working folks are displaced by these schemes simply because the Federal Government is unwilling to police the runaway train that they are at least partially responsible for creating!

Since noone has asked this question and after experiencing what I have the last 6 months, here's my question:
Is it possible that maybe just maybe Ocwen, Hud, and the OTS are in on all of this together?
Because it seems to me that we basically have come to a roadblock. Look at the Judge situation. How can he not be biased in our class action law suit? And another thing that keeps me wondering...4 out of the 5 attorneys that I went to wouldn't have anything to do with my case as soon as they heard OCWEN, OTS, and HUD all in the same sentence. The only attorney that did want to help me was thru the volunteer program and he has only lived in Az for 6 months.
I think we all need to go further. Meaning, if it could be possible that they are in on this together, we have to find out where the best place is to turn.

I for one will do anything to get my family off the streets. And yes this has affected my marriage, and my children's lives. I'm tired of feeling sorry for myselve and I want to fight but we all need to stick together and realize there has to be some group or some person out there that can help.

Thanks Marlene,
I have written to HUD and have numerous letters from them. I was originally trying to get rid of the arrearage which my former husband had and the common law divorce stated HE had to pay.

I originally had to prove to HUD that I had the legal right to the property. I had to get a common law divorce. Reason: because my name was NOT on ANYTHING. By getting this divorce, gave the right to the property.

Hey, if I ended up homeless, I have the resources to purchase another home. I care, but don't care if you know what I mean. It is a bitter sweet situation. If OCWEN took my home, that is all they would get, I don't have to pay them a single dime after they do. So, they loose, and I would win. They would have to eat the arrearage also. Cause you know something.

There is a law that gives certain individuals the right legally to request another social security number from the social security administration in Maryland, and I am such a person with another valid and legal social security number. So, again, I could walk, and OCWEN can't touch me.

HUD and Ocwen used to have dinner together for many years. Keep that inmind.I am not an Atorney and my legal knowledge is very limited. It is true that you can walk away from the house and no one can say you ae reponsible for the payments (How nice that Attorney who told you that!). However, by doing that you will be homeless, and they don't seem to care.

I heard and read in many places that you may have what they called the right to Adverse Possession: you simply declare that the house is yours because you have lived in it for many years and take care of it. I am not sure about this. I am not a lawyer, but as an Ocwen victim I can advise you to ask HUD (in writing, certified mail), if you have that right. If you send such a letter to all HUD levels, local, state, and Washington , and accompany it with some copies for the FBI, some governors (they say the California governor is after Ocwen). But don't trust any of that. Send copies to your General Attorney and to 3 or 4 Real Estate Departments (they look at each other and the one they buy will not dare to give you the wrong information if they know the other ones are looking at them). That is the reason for the many letters. Just put it in writing.

I have a friend who declared in a paper that the house she lives in is HERS and has the Deed under her name without paying any mortgage because "she never signed any contract" (this is the part the HUD people did not clarify to you).

I don't trust HUD. It might be changing now because its face looks dirty; but they know everything about Ocwen and do nothing.

Don't seek the help of a local lawyer because they don't want to fight with Ocwen and may lie to you. Ask the Government (the answer in WRITING and signed, of course).

Good Lock.

Never Afraid.