Jon
San Diego,#2Consumer Comment
Thu, February 28, 2008
I wish I knew the answer, but I don't. It's simply impossible to understand how any organization that has such an obvious and blatant history of screwing anyone and everyone that it comes in contact with has been able to avoid prosecution so artfully. If they currently own the servicing rights your loan, and you have anymore than... lets say about 5 % equity or more, you better be prepared to lose your home to these criminals, no matter how good or bad your payment history has been (It's that simple... You have money, they want it and they will take it). If you don't have equity in your home, they just may allow you to keep it, for now anyway. But don't think you won't pay a very high price for doing so. Ocwen can make up and charge fees for things you, and 99.999% of the adult population, have never heard of. And yes some those fees they create just for you. If you have made the ultimate mistake of signing forbearance with them, chances are very likely that you have signed away any rights you had. If you've already signed such an agreement don't be too hard on yourself, none of those laws/regulations, which were enacted to protect the public from such heartless greedy bastards will do you a bit of good if no body will stand up to the plate and enforce them. And my guess is that as long as Bush is in the Whitehouse this poor excuse for criminal enterprise will be counting on just that without fail. Hmmm, I believe I may have just answered my question stated above. It's all about the money and no honor among thieves. JMO J
Jon
San Diego,#3Consumer Comment
Thu, February 28, 2008
I wish I knew the answer, but I don't. It's simply impossible to understand how any organization that has such an obvious and blatant history of screwing anyone and everyone that it comes in contact with has been able to avoid prosecution so artfully. If they currently own the servicing rights your loan, and you have anymore than... lets say about 5 % equity or more, you better be prepared to lose your home to these criminals, no matter how good or bad your payment history has been (It's that simple... You have money, they want it and they will take it). If you don't have equity in your home, they just may allow you to keep it, for now anyway. But don't think you won't pay a very high price for doing so. Ocwen can make up and charge fees for things you, and 99.999% of the adult population, have never heard of. And yes some those fees they create just for you. If you have made the ultimate mistake of signing forbearance with them, chances are very likely that you have signed away any rights you had. If you've already signed such an agreement don't be too hard on yourself, none of those laws/regulations, which were enacted to protect the public from such heartless greedy bastards will do you a bit of good if no body will stand up to the plate and enforce them. And my guess is that as long as Bush is in the Whitehouse this poor excuse for criminal enterprise will be counting on just that without fail. Hmmm, I believe I may have just answered my question stated above. It's all about the money and no honor among thieves. JMO J
Jon
San Diego,#4Consumer Comment
Thu, February 28, 2008
I wish I knew the answer, but I don't. It's simply impossible to understand how any organization that has such an obvious and blatant history of screwing anyone and everyone that it comes in contact with has been able to avoid prosecution so artfully. If they currently own the servicing rights your loan, and you have anymore than... lets say about 5 % equity or more, you better be prepared to lose your home to these criminals, no matter how good or bad your payment history has been (It's that simple... You have money, they want it and they will take it). If you don't have equity in your home, they just may allow you to keep it, for now anyway. But don't think you won't pay a very high price for doing so. Ocwen can make up and charge fees for things you, and 99.999% of the adult population, have never heard of. And yes some those fees they create just for you. If you have made the ultimate mistake of signing forbearance with them, chances are very likely that you have signed away any rights you had. If you've already signed such an agreement don't be too hard on yourself, none of those laws/regulations, which were enacted to protect the public from such heartless greedy bastards will do you a bit of good if no body will stand up to the plate and enforce them. And my guess is that as long as Bush is in the Whitehouse this poor excuse for criminal enterprise will be counting on just that without fail. Hmmm, I believe I may have just answered my question stated above. It's all about the money and no honor among thieves. JMO J
Jon
San Diego,#5Consumer Comment
Thu, February 28, 2008
I wish I knew the answer, but I don't. It's simply impossible to understand how any organization that has such an obvious and blatant history of screwing anyone and everyone that it comes in contact with has been able to avoid prosecution so artfully. If they currently own the servicing rights your loan, and you have anymore than... lets say about 5 % equity or more, you better be prepared to lose your home to these criminals, no matter how good or bad your payment history has been (It's that simple... You have money, they want it and they will take it). If you don't have equity in your home, they just may allow you to keep it, for now anyway. But don't think you won't pay a very high price for doing so. Ocwen can make up and charge fees for things you, and 99.999% of the adult population, have never heard of. And yes some those fees they create just for you. If you have made the ultimate mistake of signing forbearance with them, chances are very likely that you have signed away any rights you had. If you've already signed such an agreement don't be too hard on yourself, none of those laws/regulations, which were enacted to protect the public from such heartless greedy bastards will do you a bit of good if no body will stand up to the plate and enforce them. And my guess is that as long as Bush is in the Whitehouse this poor excuse for criminal enterprise will be counting on just that without fail. Hmmm, I believe I may have just answered my question stated above. It's all about the money and no honor among thieves. JMO J
George
Bangalore,#6UPDATE Employee
Thu, February 21, 2008
You may still be connected to a representative in India inspite of that code. The only positive thing about signing a forbearance plan is that Ocwen does not foreclose if you're on a plan. The greatest limitation of a forbearance plan is that the loan continues to get assessed with late charges even though payments are made on time under the plan. You're also reported negatively to the credit bureaus although you're making payments on time under the plan. If you're far behind on your mortgage payments, its gonna be tough to catch up with the missed payments even though you're on a forbearance plan. If you have an adjustable rate it gets even tougher if the rate goes up. I would suggest getting the loan modified, cause when you do that your mortgage will be brought current and the interest rate will be fixed. However, there may not be much of a change in your payment, unless the principal balance and interest rate is reduced on modification. Before you sign anything understand how it will affect you. When you discuss a plan with a representative, its like a negotiation. The point is he/she may not be able to offer everything that you want. That's because after a plan is discussed by the agent with you, he then presents the same to the MANAGEMENT for approval. Sometimes it gets approved quickly, sometimes it takes time. After the plan is discussed, you don't have to go back to the original representative even if the plan discussed intially was denied. THE MOST IMPORTANT THING IS THAT IF YOU'RE LOAN IS IN FORECLOSURE, ASK THE REPRESENTATIVE IF HE SEES A SALE DATE FIXED ON THE PROPERTY. IF YOU'RE TOLD THERE'S A SALE DATE THEN YOU'LL HAVE TO NEGOTIATE SOMETHING QUICK. AND KEEP CALLING ATLEAST ONCE A WEEK TO CHECK ON WHAT'S HAPPENING. If the account is current the billing statement, will provide all the information on your account. Hardly a need to call unless the bill shows something that is erroneous. Whether you speak to a foreigner or a representative at home, everyone uses the same system to check your account and provide information to you. Always make a note of the name of the agent that you've spoken to and the date on which the conversation took place. Leave a customer survey after a call and the management will look into it and see what is wrong and try to correct it.
Anon
New Paltz,#7Consumer Comment
Tue, February 12, 2008
I have wanted to pull my hair out every single time I call this company. I know the people in India are just making a living, but for crying out loud! When you have a complicated issue to discuss, trying to do it with someone you can't understand or who can barely understand you -- I may as well just bash my head into the wall. I appreciate Anonymous' comments. I will complain to the higher-ups. I don't dispute I've had problems with my mortgage, but the lack of communication has made those problems worse than they should be. I hate that I can't find and talk to the person I initially set up the forbearance plan with. The left hand doesn't seem to know what the right hand is doing. And -as Anonymous said- you have to beg and plead to get transferred to a U-S representative -- if it happens at all! I did find the Ombudsman number and just called them out of frustration. At least I spoke with someone from the U-S. They gave me a number to call and guess where I ended up after one -ONE- initial conversation with someone from the US?? Yup. India. I would like to know how to boost the code to USAO!! Who do you talk to in order for that to happen? I'm so worried that this forbearance plan is just delaying the inevitable! I've been making on-time payments...but it seems it's all to no avail since I am still considered to be months behind. Any additional advice on getting out of forbearance would be appreciated.
Anonymous
Galion,#8Author of original report
Wed, September 19, 2007
Dear Sugarplum, to address your issues below, I have taken the time to correct your misinformation per below... First of all, if you are with a rating agency out of New York then why is your address in Ohio? - Response - Just because a rating agency is out of New York doesn't mean I have to live in that state. My company sends out auditors from all over the country. I have been down this road with Ocwen before and you sound like a bitter ex-employee and not a customer or 'rating agency'. - Response - How would you know how either sounds ? You sound like an active Ocwen idiot employee looking for info. If you were a part a of 'rating agency' you would know that Ocwen de-thrifted a couple of years ago and is no longer a bank and therefore does not report the OTS. - Response - I am well aware that Ocwen dethrifted years ago but to sound the horn about Ocwens level of service and problems may peak an ear at any and every regulatory agency. Anyone who has actually had issues with them and really did their homework would know that. Hello....its not Ocwen Federal Bank anymore. - Response - I never said Ocwen was a Federal Bank - my earlier post said Ocwen Financial, sugarplum Its an LLC...You are again, clearly an angry ex-employee who has bits and pieces of info from working there. The rating agencies care about delinquency, not complaints. - Response - Incorrect - they do care about complaints and servicing levels, that's part of an agencies audit process. Further, how do you know that name of the code that is on a loan?? I have requested that my calls only go the US, which I have posted here previously and have no idea about this? It is annoying to deal with India and as a american I hate it. To call and yell at someone who is just trying to make a living is juvenile and ridiculous and is not going to resolve issues. - Response - Like I said, I audit Ocwen and know about many things you don't like how to keep my mortgage current, sugarplum. And I never - never said yell at an Indian rep, simply tell them they are doing a terrible job and plaster their name on this website. Ask the name of your India contact and how to spell it and place their name on here when they have provided terrible service which will be often since they are practicing their mortgage learning curve on US consumer loans. In fact probably the opposite. - Response - Incorrect - Indians take offense to Western attitudes. Indians will not take too much abuse for the minute rate of pay Erby is paying them. The more Indians quit means more jobs in the US When I called they sent me to the US and have had no other issues. - Response - Incorrect again - India will not immediately send you to the US until you beg and plead and get angry enough. To all of you out there that don't want to speak with India - make them raise the USAO code. Also, if you think the CEO only makes 800K you are out of your mind. Try millions. India is an issue that can only be stopped by the CEO, its him, not the people trying to make a living. - Response - Yearly salary 800K, then he and his band of management idiots rape millions from the companies cash. You want to give the people good advise then tell them to go to their states Governor and restrict the calls to and from India. There are some states that do that. - Reponse - I did exactly that, I said tell every agency that will listen, your congressman and legistlators and tell them to get your personal info out of India and back into the US or can you not read either ? Since you are an insider how about helping these poor people with some advise on how to dispute their fees or contest FC? - Response - Easy, make your mortgage payment on time. You can't dispute FC fees. When YOU haven't paid your bill, Ocwen has the responsibility to FC on the home because of the agreement they signed with your lender. It's not Ocwens fault they are FCing on your loan, it's your fault for not keeping up with YOUR obligation. You seem to forget you signed a note to repay. Not a note saying I will pay unless (blank) happens.... fill in the blank. Ocwen is a servicer that cannot change your loan terms when they want to. They service what you signed. End of story.... Sweetlips. Let's not get blinded by our own agenda's. - Response - My own agenda ? My agenda is none of your business. If you don't like whats on here, don't read, don't respond. Sugarplum.
Mallory
New York City,#9Consumer Suggestion
Sat, September 08, 2007
First of all, if you are with a rating agency out of New York then why is your address in Ohio? I have been down this road with Ocwen before and you sound like a bitter ex-employee and not a customer or "rating agency". If you were a part a of "rating agency" you would know that Ocwen de-thrifted a couple of years ago and is no longer a bank and therefore does not report the OTS. Anyone who has actually had issues with them and really did their homework would know that. Hello....its not Ocwen Federal Bank anymore. Its an LLC...You are again, clearly an angry ex-employee who has bits and pieces of info from working there. The rating agencies care about delinquency, not complaints. Further, how do you know that name of the code that is on a loan?? I have requested that my calls only go the US, which I have posted here previously and have no idea about this? It is annoying to deal with India and as a american I hate it. To call and yell at someone who is just trying to make a living is juvenile and ridiculous and is not going to resolve issues. In fact probably the opposite. When I called they sent me to the US and have had no other issues. Also, if you think the CEO only makes 800K you are out of your mind. Try millions. India is an issue that can only be stopped by the CEO, its him, not the people trying to make a living. You want to give the people good advise then tell them to go to their states Governor and restrict the calls to and from India. There are some states that do that. Since you are an insider how about helping these poor people with some advise on how to dispute their fees or contest FC? Let's not get blinded by our own agenda's.