Complaint Review: Ocwen - Florida

I am a victim of Ocwen Federal Bank. I have written to the Ripoff report in the past in regards to the predatory lending practices of Ocwen. I think you are only reading the surface of the reports here. Everything that has been stated here is just like a living nightmare for me. It is true that everyone should read the very find print, but us as humans (at least the majority of us) don't read the tiny fine print. The ones that do read the print can't understand the mortgage jargon and so we sign with the hopes that the company we are going to join is going to be honest. None of us went into this agreement with eyes shut, but none of us thought that the company that services our loan would be out to gain money at any cost. The mortgage companies are in the business of making money, that I'm sure of, but they are also suppose to be in the business of satisfying the customers needs. We all have the intention of purchasing a home at a good rate. However, some of our credit does not allow us to get the best rate, but the ones that are suppose to get the norm are being suckered by the PREDATORY LENDERS! There are several steps to purchasing a home and if you are quoted one rate and then when you get to the closing after several months of gathering papers and paying off negative credit entries, well then you sign the darn papers to finally get your mortgage, because you are under the assumption that the mortgage company is trying to help you. We all signed those papers and we are locked into these mortgages and that is something we will have to live with, but that does not mean that they have the right to continue to lose payments (not us), continue to charge us fees for WHAT!, continue to increase our payments when the interest rates are at a record low. I'm a witness because I have a mortgage with Ocwen. I didn't have a problem paying my bills, my credit was medium. So why have Ocwen tried to foreclose on my property? Why have I had to file chapter 13 in order to keep my property? Why does Ocwen say I owe $94,000 dollars and I've only had my mortgage for a year and I started out with $74,000. I'll tell you why. I refinanced with Loan Giant and they screwed my FHA loan into a conventional loan and charged me 11.5%. Then they sold it to Ocwen without informing me and Ocwen contacted me two months later and told me that I was behind in my payments. I spoke with them and they told me that I could make my payments with were over $2000 dollars. After I paid them that they sent me a letter and told that I could make a forebearance agreement for the other $4000 in lawyers fees. Now you tell me what I did wrong! Ocwen IS A PREDATORY LENDER and if you think coming on this site beeing critical is a solution, well you may as well keep your comments to yourself. I've been told by the Fair Banking Alliance that this about to come to a head and all of you that have not yet joined the class action suit, DO SO IMMEDIATELY!

Rob, Rob, Rob, where do I begin? First, isn't it a coincedence that you're from Altamonte Springs, a suburb of Orlando, the hometown of everyone's favorite predatory lender. You wouldn't happen to be Robert E. Koe, Managing Director of Ocwen Financial Corp. would you? In any event, when someone doesn't have facts or TRUTH supporting their side, it's so typical for idiots like yourself to make ad hominem attacks (I know that's one of those fancy, high-falutin' S.A.T. words, but use what very few brain cells you have, that enabled you to find this website and post your vitrol, to get a dictionary and look it up) when they try to make their arguments because not only is that the easiest way to make an argument (read: requires no thought), it's the only means they can use to make any sort of case. So your arguments that Ocwen customers are all stupid are meaningless and can be dismissed because your ad hominem attacks haven't proved a darn thing except what an idiot you are and how disingenuous your comments truly are. If you can show me, and everyone else that has posted here, SOLID EVIDENCE that ALL of Ocwen's cutomers have been treated fairly and with the utmost in professionalism -- as your website professes, that they ALL have been late with their payments and that they are the ones at fault, then maybe I will change my mind about your organization. However, I'm willing to bet that you can't do that simply because it's not true and Ocwen has never had it's borrower's best interests in mind; it has only had designs on seizing their customers' property by any means necessary. You want to talk facts Rob? Tell me then, isn't it true that Ocwen is sort of a "child" of The Resolution Trust Corporation; you know, the company that was set up by the Feds to bail out the S&Ls back in the late 80s and early 90s? So wouldn't it make sense then, that from the political connections the brass at Ocwen made through the RTC, why the people in power -- who are supposed to protect us from monsters like Ocwen -- have looked the other way while Ocwen has stealed their customers' homes? You know what else Rob? I hope you find yourself and your home in the hands of a predatory lender like Ocwen. After all, turnabout is fair play. Surely, you don't have to worry that Ocwen will take your home, after all you work for them. But there even more evil and dispicable mortgage servicing companies out there that you do have to worry about; after all there is no honor among theives. I hope one of those companies buys the servicing rights to your mortgage, sits on your timely payments for weeks on end before posting them and then adds bogus late fees and charges to your payments, forces substandard and overpriced hazard insurance on your house after you try to prove to the company you already have insurance, makes false reports to the 3 CRBs and then just decides to lose your payments and forecloses on your home. Maybe the Erbeys or someone at Moss, Codilis will let you stay with them after your house is ripped out from underneath you. Wait a second, very soon you will have a place to stay, where you will get your 3 squares a day and a free bright orange jumpsuit to boot! One word of advice though, Rob, and I have heard this from numerous sources: whatever you do, don't drop the soap! Speaking of that Rob, I have heard -- and not only from posters on this website, but from numerous souces who are in the know -- that you and your fellow crooks' days are numbered and it's only a matter of time before you all find yourselves out of a job and in prison. And I heard it's only a matter of time before Ocwen files for bankruptcy. In fact, rumor has it that it's all but certain Ocwen will be out of business in the not too distant future and the only thing that's left is for Ocwen to file the petition. So you tell me who's the stupid one here? (By the way Rob, because you're probably not intelligent enough to recognize this, that's a rhetorical question and you're not supposed to answer it).

We all here know who it is that doesn't have a clue! You're either a complete fool or just another Ocwen Moron! Who does have the intelligence to know when you're dead wrong! We'll let the courts decide who is right!

F--- You, Rob...you need to "get a clue". You DON'T know the circumstances and your comments are deplorable...perhaps you don't even know the meaning of the word. Unless you've been in our shoes...F off!

It amazes me how little the people here that post , pass blame to the company who services the mortgage. The arm doesnt go down but intrests rates are dropping! Well the generall rates are going down why does my intrest rate go up? (get a clue) This statement along with the others, well i fell behind in my payments but ocwen should not have foreclosed, or a payment got lost or never credited to my account, learn what a mortgage is, learn what it takes to service loan in bulk, and stop crying about a loan you SIGNED but were too ignorant to read in full. Anything you pay on requires your attention, if you fail to keep up on it there will always be problems. More than 60 percent of the complaints here are by people that are too irresponisble to have obtained any kind of loan in the first plance. Half the complaints are so laughlable its not even worth responding to.

It appears that the only sure solution is that you sell your home, or refinance. There's no question in my mind. After all, it's not a matter of if, just when. When they will take everything you have worked for all your life. You don't even have to be late with your payments because they will make you late anyway they can. I have been reading these posts way too long to think otherwise. The pattern is very clear: First they buy your loan and don't tell you until you have already sent your payment to your previous lender, then they charge you late fees for that payment, plus legal fees, etc. Then there is the highly inflated insurance that they force upon you even after you have provided them proof of having your own ten or more times. Then they send the false reports to the credit bureau! I'm sure that's their way of preventing a refinance. It's really quite entertaining... If given the chance they would claim you to be the worst customer ever! But they will do everything they can to prevent you from leaving them! You know... Like that old boyfriend/girlfriend you had years ago that only got worse with time. We just paid over 14K just to get rid of them! Absolutely, no choice, if given the chance they will strip you, of all you have.

What suggestions do you have for all of us who have been victimized by ocwen? How can we be severed from the leach is they have ruined our credit, taken our homes, screwed up postings. How, tell me and others how this can be done? The court system isn't going to work either. So, again how can we get away from ocwen?

What suggestions do you have for all of us who have been victimized by ocwen? How can we be severed from the leach is they have ruined our credit, taken our homes, screwed up postings. How, tell me and others how this can be done? The court system isn't going to work either. So, again how can we get away from ocwen?

What suggestions do you have for all of us who have been victimized by ocwen? How can we be severed from the leach is they have ruined our credit, taken our homes, screwed up postings. How, tell me and others how this can be done? The court system isn't going to work either. So, again how can we get away from ocwen?

What suggestions do you have for all of us who have been victimized by ocwen? How can we be severed from the leach is they have ruined our credit, taken our homes, screwed up postings. How, tell me and others how this can be done? The court system isn't going to work either. So, again how can we get away from ocwen?

Keep in mind that according to their own propaganda they make their business to "service" under or sub-performing loans. They "acquire" these loans. If they are not abundant enough they do whatever they can to help you get into a lot of "nonperformance" problems so they can "service" your "sub-performing" loan by forcing you into bankrupcy, destroying your credit, and your life. They make the sweetest equity profit out of your misery by stealing your property. So, the interes will always go UP. I also have an ARM (they love to offer these Upper Arms to borrowers). They don't want you to pay the proper amount and on time, because they will not have someone to "service" if you perform. If your loan is a fixed they will do something with other kinds of stuff like the bogus fees, the insurance, etc. Their goal: get you to be non-performance enough to qualify as a homeless in your city. Talking about fees. Does anyone knows if Ocwen can declare itself a "fee-based" company as they do it, publicly? New Century (Ocwen's beloved buddy) never told me that I was going to be service for such a "fee-based" company (What a JETA they both have)? I never knew I was supposed to pay them money , that forced fee they freshly call "choice" to have our payments posted on time. Can they do, I mean , legally do that to borrowers? I never wanted my loan to be serviced for a "fee-based" company that has a license to "transfer moneys", yet it has troubles posting my payments when I used my bank's Bill Payment feature. If they have, as other banking institutions say, the right to "transfer moneys" (by the way, they transfer only the moneys they need to profit and hurt)or "charge fees" I don't care. My question: Don't we have the right to know, beforehand, thatwe are going to be subjected to these fees? Well, according to Despicable New Century, Ocwen is a Servicer of "superior servicer capabilities". Well, I prefer the inferiority of the Servicers I had before, Wells Fargo, and others, since 1994. At least, they didn't have any problems cashing my checks. They also accept regular mail and their Customer Serv. reps know what they are talking about. Some one knows?

Your right, it really doesn't seem to matter what the Fed does with the interest rates... Ocwen's rates will always go up! The only way you will ever get a break, in my opinion, is if you sever the leach, once and for all! GOOD LUCK!!!