Complaint Review: OCWEN FEDERAL BANK - Los Angeles California

I know all about that company, especially a Mr. Lucero, he told me I was behind 27,000 and that I had time to sell since we had an offer, the pay off amount was wrong but I thought we could work that out. Well, one week befor closing, I was told nope, we have our own realtor and she will sell it you can't get that amount for that home. This realtor, never got an eviction notice, just locked us out, when I contacted Mr. Lucero he said "oh well" we all have problems. Ironically the payoff ended up being 15,000 and this realtor got the same price for the home as we did. So where did all the extra money go? We could of used it to relocate. Now we are stuck in an apt with all our stuff in storage. Another expense thanks to Ocwen. So beware they will lie

It appears WASEEM is now the official OCWEN Rip-Off Report spokesperson. Although the rebuttal being sent has been pre-prepared and is the same over and over, it means nothing to those of us who have to deal with the reality of losing our homes. The reality of the situation is there is no one listening!! Please!! Write to the attorney general in your state. Ask him/her to PLEASE read The many Rip-Off Reports about OCWEN. In your letter, also ask them to respond to you AFTER reading this. There must be a way to bring attention to the matter!! Does anyone have any other ideas? Pleas post them!

You have violated every law that was created to protect the consumer. You have turn your back on the Laws and have challenged the very rights of each and every person reporting on this web site. Perhaps we are all wrong and you are right.I think not. Listen to the anger and the very acts carried out by your company. Your customer service is Non-exsistant. You use tactics much like a Thug. You offer no help or even a hint of compassion. Your motives are greed, pure greed and you have found a safe haven in the American Justice System. On all your letters you always state that you are a Debt Collector, Therfore You fall under the Fair debt Collection Practices Acts. Validation of Debts. The debt collector must provide the consumer with certain basic information. You do not. Perhaps a refresher course in Consumer Affairs Laws and Regulation Sec. 350 in the (FDCPA). This would be a good start. You see, there are a lot of hurt and angry people out there and the cause is Ocwen Banks violations to just about every rule under this section. I will not rest until Justice is served. You will cease because someone, and I don't no who, will come along and see what you have done and have the power and the wisdom and the knowledge to STOP YOU.

Dear Mr. Ocwen Customer Service Man, What color is the sky in the world you live in????? HAVE YOU READ ALL THE REPORTS HERE AND STILL DON'T GET IT????? DO YOU HAVE A MORTGAGE WITH OCWEN FEDERAL BANK ?? ARE YOU AT RISK OF LOSING YOUR HOME??? HAVE YOU DEALT WITH OCWEN REPS. TO TRY TO REMEDY THE ISSUE?????? As a result of Ocwen's practices, thousands of low- and moderate-income Americans nationwide have had their dream of homeownership turned into a nightmare. Often, the targets of these predatory lending schemes are the elderly, low-income, and financially illiterate citizens; those who can least afford such financial turmoil, and who are easily made homeless by these practices. The rise in predatory lending threatens to destroy many of the gains that low- and moderate-income and minority communities have realized in the last several years.No individual or family should be subject to such unscrupulous and abusive practices. The Parity Act was enacted in the early 1980s when interest rates were high; in order to encourage variable rate mortgages and other "alternative" financing vehicles to stimulate credit. In supporting the Parity Act when passed, mortgage bankers argued that overly restrictive state laws prevented state-chartered housing creditors from originating such alternative mortgage loans. At the time, the secondary market was less developed, and lenders had to hold fixed-rate, fixed term mortgages in their portfolios, creating asset-liability mismatches between long-term mortgages and short-term deposits. While the Parity Act was perhaps necessary in this environment, the environment has now changed significantly. Although Ocwen is engaged, as the OTS itself notes, "primarily in the business of wholesale purchases of non-performing or sub-performing single family and commercial mortgage loans," (which account for 72 percent of the number and 70 percent of the dollar volume of loans made during the institutions exam period), the OTS failed to include an examination of these loans in its CRA exam, or the way in which Ocwen "uses a variety of collection strategies to return these loans to performing status." A substantial number of these loans probably end up in foreclosure since Ocwen maintains an online auction of foreclosed homes nationwide on its Internet site. Ocwen is also a nationwide lender which originates single family subprime mortgages through a network of approximately 2000 mortgage bankers and brokers. While the OTSs CRA exam does make comparisons with other nationwide subprime originators and their activity in low-and moderate-income areas, it again says nothing about the terms and conditions of these loans. The OTS exam also fails to address the way in which these subprime loans are marketed and the procedures that Ocwen uses to ensure that prime credit candidates are not steered to subprime products offered by Ocwen. This information is open to the public yet, what's PITIFUL about it is that not only does "everyone" seem to know this but no one (politicians, government agencies) does anything about it!!!!! So unless you have walked in our shoes don't say that Ocwen strives to help their customers..... Ocwen is in the money business/ cut throat business. Get A GRIP!!

Dear Mr. Ocwen Customer Service Man, What color is the sky in the world you live in????? HAVE YOU READ ALL THE REPORTS HERE AND STILL DON'T GET IT????? DO YOU HAVE A MORTGAGE WITH OCWEN FEDERAL BANK ?? ARE YOU AT RISK OF LOSING YOUR HOME??? HAVE YOU DEALT WITH OCWEN REPS. TO TRY TO REMEDY THE ISSUE?????? As a result of Ocwen's practices, thousands of low- and moderate-income Americans nationwide have had their dream of homeownership turned into a nightmare. Often, the targets of these predatory lending schemes are the elderly, low-income, and financially illiterate citizens; those who can least afford such financial turmoil, and who are easily made homeless by these practices. The rise in predatory lending threatens to destroy many of the gains that low- and moderate-income and minority communities have realized in the last several years.No individual or family should be subject to such unscrupulous and abusive practices. The Parity Act was enacted in the early 1980s when interest rates were high; in order to encourage variable rate mortgages and other "alternative" financing vehicles to stimulate credit. In supporting the Parity Act when passed, mortgage bankers argued that overly restrictive state laws prevented state-chartered housing creditors from originating such alternative mortgage loans. At the time, the secondary market was less developed, and lenders had to hold fixed-rate, fixed term mortgages in their portfolios, creating asset-liability mismatches between long-term mortgages and short-term deposits. While the Parity Act was perhaps necessary in this environment, the environment has now changed significantly. Although Ocwen is engaged, as the OTS itself notes, "primarily in the business of wholesale purchases of non-performing or sub-performing single family and commercial mortgage loans," (which account for 72 percent of the number and 70 percent of the dollar volume of loans made during the institutions exam period), the OTS failed to include an examination of these loans in its CRA exam, or the way in which Ocwen "uses a variety of collection strategies to return these loans to performing status." A substantial number of these loans probably end up in foreclosure since Ocwen maintains an online auction of foreclosed homes nationwide on its Internet site. Ocwen is also a nationwide lender which originates single family subprime mortgages through a network of approximately 2000 mortgage bankers and brokers. While the OTSs CRA exam does make comparisons with other nationwide subprime originators and their activity in low-and moderate-income areas, it again says nothing about the terms and conditions of these loans. The OTS exam also fails to address the way in which these subprime loans are marketed and the procedures that Ocwen uses to ensure that prime credit candidates are not steered to subprime products offered by Ocwen. This information is open to the public yet, what's PITIFUL about it is that not only does "everyone" seem to know this but no one (politicians, government agencies) does anything about it!!!!! So unless you have walked in our shoes don't say that Ocwen strives to help their customers..... Ocwen is in the money business/ cut throat business. Get A GRIP!!

Dear Mr. Ocwen Customer Service Man, What color is the sky in the world you live in????? HAVE YOU READ ALL THE REPORTS HERE AND STILL DON'T GET IT????? DO YOU HAVE A MORTGAGE WITH OCWEN FEDERAL BANK ?? ARE YOU AT RISK OF LOSING YOUR HOME??? HAVE YOU DEALT WITH OCWEN REPS. TO TRY TO REMEDY THE ISSUE?????? As a result of Ocwen's practices, thousands of low- and moderate-income Americans nationwide have had their dream of homeownership turned into a nightmare. Often, the targets of these predatory lending schemes are the elderly, low-income, and financially illiterate citizens; those who can least afford such financial turmoil, and who are easily made homeless by these practices. The rise in predatory lending threatens to destroy many of the gains that low- and moderate-income and minority communities have realized in the last several years.No individual or family should be subject to such unscrupulous and abusive practices. The Parity Act was enacted in the early 1980s when interest rates were high; in order to encourage variable rate mortgages and other "alternative" financing vehicles to stimulate credit. In supporting the Parity Act when passed, mortgage bankers argued that overly restrictive state laws prevented state-chartered housing creditors from originating such alternative mortgage loans. At the time, the secondary market was less developed, and lenders had to hold fixed-rate, fixed term mortgages in their portfolios, creating asset-liability mismatches between long-term mortgages and short-term deposits. While the Parity Act was perhaps necessary in this environment, the environment has now changed significantly. Although Ocwen is engaged, as the OTS itself notes, "primarily in the business of wholesale purchases of non-performing or sub-performing single family and commercial mortgage loans," (which account for 72 percent of the number and 70 percent of the dollar volume of loans made during the institutions exam period), the OTS failed to include an examination of these loans in its CRA exam, or the way in which Ocwen "uses a variety of collection strategies to return these loans to performing status." A substantial number of these loans probably end up in foreclosure since Ocwen maintains an online auction of foreclosed homes nationwide on its Internet site. Ocwen is also a nationwide lender which originates single family subprime mortgages through a network of approximately 2000 mortgage bankers and brokers. While the OTSs CRA exam does make comparisons with other nationwide subprime originators and their activity in low-and moderate-income areas, it again says nothing about the terms and conditions of these loans. The OTS exam also fails to address the way in which these subprime loans are marketed and the procedures that Ocwen uses to ensure that prime credit candidates are not steered to subprime products offered by Ocwen. This information is open to the public yet, what's PITIFUL about it is that not only does "everyone" seem to know this but no one (politicians, government agencies) does anything about it!!!!! So unless you have walked in our shoes don't say that Ocwen strives to help their customers..... Ocwen is in the money business/ cut throat business. Get A GRIP!!

Dear Ocwen, Utmost customer care and professionalism??????????? What a hoot!!!! You MUST be joking. Do you give the reps a huge bonus for foreclosures? I hear your foreclosure rate is 40%...pretty pathetic. I urge victims to file a complaint with Oklahoma City...they contracted Ocwen to MANAGE the HUD loans...imagine that.

Dear Ocwen, Utmost customer care and professionalism??????????? What a hoot!!!! You MUST be joking. Do you give the reps a huge bonus for foreclosures? I hear your foreclosure rate is 40%...pretty pathetic. I urge victims to file a complaint with Oklahoma City...they contracted Ocwen to MANAGE the HUD loans...imagine that.

Dear Ocwen, Utmost customer care and professionalism??????????? What a hoot!!!! You MUST be joking. Do you give the reps a huge bonus for foreclosures? I hear your foreclosure rate is 40%...pretty pathetic. I urge victims to file a complaint with Oklahoma City...they contracted Ocwen to MANAGE the HUD loans...imagine that.

Dear Ocwen, Utmost customer care and professionalism??????????? What a hoot!!!! You MUST be joking. Do you give the reps a huge bonus for foreclosures? I hear your foreclosure rate is 40%...pretty pathetic. I urge victims to file a complaint with Oklahoma City...they contracted Ocwen to MANAGE the HUD loans...imagine that.

If you have a concern regarding the servicing of your loan, please contact Ocwen Federal Bank FSB at one of the following: E-mail address: [email protected] Toll free Phone #: 1-800-804-5561 Mailing Address: Ocwen Federal Bank FSB Attention: Research Department 12650 Ingenuity Drive Orlando, FL 32826 We strive to provide each of our customers with the utmost in customer care and professionalism and are eager to address any issue or concerns that you feel have not been appropriately addressed.

If you have a concern regarding the servicing of your loan, please contact Ocwen Federal Bank FSB at one of the following: E-mail address: [email protected] Toll free Phone #: 1-800-804-5561 Mailing Address: Ocwen Federal Bank FSB Attention: Research Department 12650 Ingenuity Drive Orlando, FL 32826 We strive to provide each of our customers with the utmost in customer care and professionalism and are eager to address any issue or concerns that you feel have not been appropriately addressed.