Complaint Review: OCWEN - IRVINE California

One thing in one of the previous responses that makes sense is getting a Loan Resolution representative on the phone and negotiating a lower payoff. After you negotiate the payoff attempt to refinance with another mortgage company. With today's flexible underwriting and a decent mortgage payment history in the last twelve months, you can get your mortgage refinanced at a lower rate and save money monthly or reduce the term of your loan. I'm impartial on this subject because I see both sides when I originate loans. Everyones' situation is different. I offer real life solutions to mortgage problems that sidetrack Americans from enjoying their everyday life.

Your opinion is Useful. How long did you work for Ocwen and what did you do? What ever you were told or heard about Ocwen's policies,is intresting to me. How they only buy up "less desirable" mortgages or at "risk" is remarkable and for some strange reason extremely profitable.You did metion their accounting problems. Well this is everything in the banking business...EVERYTHING.has to pay the late fee and Interest? Try clearing this mess up, Not to mention what the Most of us are talking major accounting PROBLEMS, You must not have read very many reports. So a late payment is late how much were they charging for this fee. They failed to pay my taxes, who hell happened to the Impounds that were held back. These are stories about a Company that has violated the Laws and has no respect for any Truth In Lending Practices. One day they are going to be prosecuted under the laws of California. If this companies is telling it's Employees that we are second rate Citizens they are already in a lot of trouble, Discrimination is a biggy ,Morgan. Thanks Morgan, thanks It always nice to see and listen to what a Ex- Employee or Employee has to say about OCWEN.

Ocwen Bank does not have or refuses to agree with Checkfree Corp to accept Electronic Transfers! Ever wonder Why? Because you would have the precise time when your payment was posted. There would be proof of posting. This is how I keep Credit Card Companies in check. Not Ocwen Bank. You must sign up on their program or nothing. My next question is directed to the Gentleman who had his Escrow stopped and was allowed to pay his own taxes. I would love to do this. I would love to have a record of payments made to the county for property taxes. Ocwen has had a real problem handling my escrow account not to mention paying my taxes on time.I was also trying to make sure you get a receipt so you can see haow your money is being applied towards your P&I. If you don't they have this accounting problem called fill in the blank method so it balances out,for Ocwen. So you get a receipt, if you can but I really don't think it's.....well try.

Listen, Late fees, attorneys fees, escrows, payment dates, and everything else you people b***h about here are all spelled out exactly in your loan documents. Read your note and mortgage. Be assured, Ocwen does not charge nor does it engage in anything it does not firmly believe it has a legal and contractual right to do. They may not always be right, thats why you, as a borrower, must check your loan documents. Filing class action law suites is not as easy as calling up your local ambulance chaser. They are expensive, must get classification as class action by a Judge, and you can open yourself up to personal liability. Also, please remember attorneys dont work for free. If your having trouble making the house payment how you going to make the attorney payment? Complain to the Office of Thrift Supervision. They are the governmental agency that watches over Federally chartered savings banks, which is what Ocwen is. They show up every year and audit the company on almost anything they want every year. Bitching on this forum gets you nothing. Hell, complain to your member of Congress. I admit, as an ex employee I can attest that Ocwen has a lot to improve on as far as their record keeping and customer service goes. I would suggest you pay them off as soon as possible. Hell, you can even stop paying, have loan assigned to a Loan Resolution Coordinator, and negotiate a discounted pay off. LRCs get paid on resolving problems like that, they will not be hesitant to do so, as long as you dont have any equity in your home and your credit is already beyond repair. Ocwen is growing its loan servicing business at an astounding rate. Banks cant transfer their problem loans to them fast enough. You (people who dont pay on time regardless of what the reason) are considered undesirable by the large and best loan services in the business; therefore, you get transferred to companies like Ocwen and then treated like second-class citizens when it comes to loan servicing. You cost the Chase Manhattans of the world money and they dont want to look like the bad guy trying to collect from you. Think of Ocwen as the enforcer who thrives on the tough reputation. Chase can say hey, it wasnt us it was Ocwen. We never told them to treat you that way. Rest assured that all the while they would be giving a big pat on the back to OFB for saving them money. Anyhow thats my opinion I could be wrong.

I have friends that are "owned" by Ocwen. I found this site and I have been horrified by all the stories that mirror my friends problems. This is an unethical company and anyone that tries to stick up for them obviously has not had to deal with the crap they manufacture. This company is unorganized and walks the fineline of criminal behavior. They have totally refusedto send detailed statements with explantions for their charges. I find it very interesting that the only way that this company managed to get my friends account on track was when they told them that they have been monitoring this site and were fully prepared to join in any class action suit against Ocwen. Surprise,surprise, Ocwen is now bending over backward to make amends. I have kept my friends informed and they now send all payments with return reciept requested, so that all payments received must have a signature and date, they RECORD all phone calls with the company and make copies of EVERTHING in triplcate. hope that they never have to use this information,but if everyone is as metculious at keeping track of this horrible company, maybe we can bring this monster down!!!! To all the supporters of these moneygrubbers, I ask one question. Where do you have your home loans and how would you feel if they insisted that you were 3 months behind and you know you sent in your payments? How would you react if they threatned your home over legal fees because they say they never got the payments? Add to this frustration that because THEY say you owe thousands more due to outrageous late fees and legal fees that you hear about from a rep who can give you no information except to change the amounts owed from day to day. This is how this company operates and they need to be STOPPED!

First of all, if you are on the automatic debit program then no, you do not get a billing statement. If you read the paperwork that you submitted to get on the program then you would have known that. Second...I thank the other respondent to this complaint, your words are 100% accurate. Your payment is due on the same day every month, a billing statement is a courtesy not a right...you know when the payment is due. Third, suspicious??? Why? The payment is deducted each month right? Has Ocwen called you to say you are delinquent? Probably not...so what is the problem? Fourth...for your information I have come across many companies that do not provide a bill when you are on the auto payment program. Fifth...If it is so bothersome to you, then here is a thought, cancel the program. Finally, if you need to see proof of where the payments are going then call and ask for a payment history. This will show how the payments have been applied. Again, there are simple solutions to your "problem". ~Lashes in FL

First of all, if you are on the automatic debit program then no, you do not get a billing statement. If you read the paperwork that you submitted to get on the program then you would have known that. Second...I thank the other respondent to this complaint, your words are 100% accurate. Your payment is due on the same day every month, a billing statement is a courtesy not a right...you know when the payment is due. Third, suspicious??? Why? The payment is deducted each month right? Has Ocwen called you to say you are delinquent? Probably not...so what is the problem? Fourth...for your information I have come across many companies that do not provide a bill when you are on the auto payment program. Fifth...If it is so bothersome to you, then here is a thought, cancel the program. Finally, if you need to see proof of where the payments are going then call and ask for a payment history. This will show how the payments have been applied. Again, there are simple solutions to your "problem". ~Lashes in FL

First of all, if you are on the automatic debit program then no, you do not get a billing statement. If you read the paperwork that you submitted to get on the program then you would have known that. Second...I thank the other respondent to this complaint, your words are 100% accurate. Your payment is due on the same day every month, a billing statement is a courtesy not a right...you know when the payment is due. Third, suspicious??? Why? The payment is deducted each month right? Has Ocwen called you to say you are delinquent? Probably not...so what is the problem? Fourth...for your information I have come across many companies that do not provide a bill when you are on the auto payment program. Fifth...If it is so bothersome to you, then here is a thought, cancel the program. Finally, if you need to see proof of where the payments are going then call and ask for a payment history. This will show how the payments have been applied. Again, there are simple solutions to your "problem". ~Lashes in FL

First of all, if you are on the automatic debit program then no, you do not get a billing statement. If you read the paperwork that you submitted to get on the program then you would have known that. Second...I thank the other respondent to this complaint, your words are 100% accurate. Your payment is due on the same day every month, a billing statement is a courtesy not a right...you know when the payment is due. Third, suspicious??? Why? The payment is deducted each month right? Has Ocwen called you to say you are delinquent? Probably not...so what is the problem? Fourth...for your information I have come across many companies that do not provide a bill when you are on the auto payment program. Fifth...If it is so bothersome to you, then here is a thought, cancel the program. Finally, if you need to see proof of where the payments are going then call and ask for a payment history. This will show how the payments have been applied. Again, there are simple solutions to your "problem". ~Lashes in FL

you KNOW each and every month when you house payment is due. I am not on the side of Ocwen, because I too have been a victim of mis postings, taxes not paid, etc. However, just because you don't have a statement to send in each month, you should make a copy of an old one, keep extras and send one of them in each month. At least it would have your account number on it. Not having a statement in which to make a payment is no excuse for not making the payment, it will only cause you a major headache down the road. For the person who wants to stop the escrows with Ocwen, I don't know who told you what, but, I stoped mine. I don't escrow anything. I pay my homeowners insurance myself, and I pay my taxes myself. That way, I KNOW they get paid, plus I get receipts from the tax office and insurance company and put them in a now what is a very thick file labele Ocwen.

You make sure you get a monthly statement receipt and be sure your form 1098 is correct. I am expert in doing business with Ocwen Bank. They are never to be trusted. Not at the expense of your home and your money. Read the stories that have been reported. Were not making this up. you have now been warned. ...Ripped-off