- Report: #317974
Complaint Review: Ocwen Loan Servicing LLC - Orlando Florida
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Ocwen Loan Servicing LLC
12650 Ingenuity Drive Orlando, 32826-2703 Florida, U.S.A.
Phone:
800-746-2936
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Ocwen Loan Servicing LLC Bogus Charges, "Funny Math", Misapplication of Payments, Offshore Customer Service Orlando Florida
My Ocwen loan is a 2nd mortgage. I financed my home with an 80/20 fixed rate mortage in 2005. The original loans were through Long Beach Mortgage, who then sold them to Washington Mutual. WaMu in turn sold the smaller $25,000 loan to Ocwen. I missed 2 payments to Ocwen in April and May of 2007. In June of 2007 I enrolled the loan into WaMu's Equity Accelerator Program. Ocwen has been receiving approximately $19 a month above and beyond the amount of my monthly payment since June of 2007, which has not been applied either to the past due balance or to additional principal. Instead, it is sitting in "suspense" until such time that (so I was told today by the customer service representative in India, and her supervisor, also in India) the amount in suspense is equal to 1 monthly payment, then they will apply it to the current month's payment. While my statements reflect that I have a past due balance of approximately $450, my current payments have steadily decreased to the point where my statment reflects that my current balance for April (not including the $450 past due) is less than $50. Moreover, they are charging late fees and "miscellaneous" fees. When I inquired regarding the miscellaneous fees, I was told that I was being charged approximately $90 for 3 "drive-by" inspections of my property that occured in August, October, and December of 2007 by "someone in Ocwen Property Protection." I insisted on the name of the company, written reports, etc. and stated that I would not be paying for property inspections that I neither requested nor was made aware of.
Ocwen recently me sent correspondence giving me the opportunity to enter into a loan modification, whereby I would pay a certain sum of money now, and for the next 3 yrs my interest rate would drop down to almost 4%, and my payments would be almost 1/2 of what they are currently. The modification agreement states that "you agree... that the unpaid principal balance is..." a figure in excess of the original $25,000 loan I took out when I purchased the property in 2005. Whereas my principal has dropped on my 1st mortgage (the Wamu Loan) from $101,000 to $98,000 in the last couple years, Ocwen wants me to believe that my principal on their loan has only dropped a couple of hundred dollars over the same time period; moreover, they want me to agree (in the form of a loan modification) that the "modified" unpaid principal balance will be more than the original principal balance that I started off with. I had a real estate lawyer to read it over, and he says in addition to that, the agreement states that I waive alot of rights, including "any expenses incurred in connection with the servicing of your loan, but not yet charged to your account...are not included in the Unpaid Principal Balance and may be charged to your account after the date of this Agreement."
Funny math, non-American customer service agents, charges for inspections which I had no knowledge of and did not consent to...I intend to write them a letter and follow up with letters to the Attorneys General of Florida and Texas. If there is a class action suit going on somewhere that I can opt in on, please contact me.
Anna
Garland, Texas
U.S.A.
Ocwen recently me sent correspondence giving me the opportunity to enter into a loan modification, whereby I would pay a certain sum of money now, and for the next 3 yrs my interest rate would drop down to almost 4%, and my payments would be almost 1/2 of what they are currently. The modification agreement states that "you agree... that the unpaid principal balance is..." a figure in excess of the original $25,000 loan I took out when I purchased the property in 2005. Whereas my principal has dropped on my 1st mortgage (the Wamu Loan) from $101,000 to $98,000 in the last couple years, Ocwen wants me to believe that my principal on their loan has only dropped a couple of hundred dollars over the same time period; moreover, they want me to agree (in the form of a loan modification) that the "modified" unpaid principal balance will be more than the original principal balance that I started off with. I had a real estate lawyer to read it over, and he says in addition to that, the agreement states that I waive alot of rights, including "any expenses incurred in connection with the servicing of your loan, but not yet charged to your account...are not included in the Unpaid Principal Balance and may be charged to your account after the date of this Agreement."
Funny math, non-American customer service agents, charges for inspections which I had no knowledge of and did not consent to...I intend to write them a letter and follow up with letters to the Attorneys General of Florida and Texas. If there is a class action suit going on somewhere that I can opt in on, please contact me.
Anna
Garland, Texas
U.S.A.
