Complaint Review: OCWEN - ORLANDO Florida

Let me start by saying I am a victim too of this horrible company and am part of the pending lawsuit. However, I must agree with Karen in her explanation of the HUD assignment program. She explained it the exact same way that HUD did to me. You see, I am in the same boat. When my former husband quit paying the mortgage and we got divorced, I had to prove I had the right to live in the property. (texas has common-law), so, I went with a few yrs with reduced payments and now the arrearages are terrible. However, the courts told my now former ex that he at the time of the divorce had to bring the payments current. Did he, hell no... so, I am still fighting the fact that I am stuck with the arrearages. I don't want to get out of all of them, because they aren't all his, some are mine. However, they are still due and payable. What she didn't explain is this. When the note is finally paid off, the arrearage amounts will then become due. According to HUD, you, me or whomever was in this boat will have 10 yrs to pay that off. This is interest and doesn't accrue any more interest. (that is good news) Why can't this argument about Ocwen stay focused on the issues? This bickering back and forth serves no purpose, none what so ever.

In my opinion Karen is just simply trying refocus your attention on the now defunked HUD instead of exposeing it on thier old partner in crime "Ocwen" . And beleive there are no comparisons at all. I suspect that she is just anthor shill anyway. Ocwen's base is in orlando. And wow what a socker thats Karen's home as well. Go figure.

Elizabeth, mortgages are bought, sold and transferred on a daily basis. It is a very common practice and your mortgage company does not need your permission to do it. It is covered in a clause in your mortgage document. Read it. Now, about those HUD loans.....about 15 or so years ago, someone at HUD had a great idea, they decided that if an FHA loan was in foreclosure and about to be sold, HUD would take it over from the bank or mortgage servicer who held the Note. In doing that they place the loan in an "Assignment Program" or what at the time was called the Ferrell Period. The Ferrell Period was a three year plan to "assist the borrower and to give them time to get their financial house in order". What that means is that at one point your loan was in foreclosure and HUD took it over. HUD gave you three years of paying either nothing or very low payments. So, whatever you paid HUD during that three year period (if you paid anything at all) went to their fees and everything else but your principal and interest. But, what HUD failed to tell the borrowers was that all those missed payments were still owed and when the three year Ferrell Period was over, it was time to pay up. What happened was when these loans started coming out of the Ferrell Period, HUD had no way to collect on them or to enforce the Notes and Mortgages, they had no plan in place. As a result, they sold the loans to sub-prime mortgage servicers. Ocwen was one of those sub-prime servicers, as you know. What these mortgage servicers did was if the loan was out of the Ferrell Period at the time of boarding, they immediately began to enforce the Notes. Meaning, the loans went into major collections status. HUD was out of it by then, and all of these borrowers were left to wonder what happened to their 3 years of bliss with HUD. The truth is, HUD is the one that messed over these borrowers, by not being honest with them when they were "rescuing" them from certain foreclosure. Now, these borrowers are left with tens of thousands of dollars in interest arrearages, and all sorts of fees, costs, late charges and escrow advances that have s****..

I hate to burst your bubble Karen, but Ocwen thinks it's above the law. I NEVER signed a mortgage agreement with Ocwen. My mortgage was in HUD assignment because I was a flood victim in 1993. In March of 1996, HUD sold my mortgage to Ocwen. I had to call them repeatedly just to find out what my mortgage payment was and where to send it to. They claimed they hadn't received the paperwork from HUD yet. They would contact me when they did. That took them 3 months. The law states THEY were to notify ME within 60 days after the mortgage loan was sold. So you want me to believe that they follow the law? What I did get after 3 months of phone calls and being put off, was a demand letter for the back payments due and all the trumped up charges and fees due to their own inability to find my paperwork. The biggest shock was when I found out HUD applied all the interest in my payments to "administrative fees". Unbeknownest to me, I had interest arrearages. Grand total in excess of $12,000. I had to file bankruptcy to save my house. I paid on time to HUD, but couldn't pay Ocwen because Ocwen couldn't find my paperwork for 3 months. But I guess that was all my fault and I'm a deadbeat. To this day, I still have not seen or signed paperwork proving that Ocwen is my true mortgage lender. Seems no one is. My original lender said they sold it to HUD. I have it in writing from HUD that it was sold to Ocwen. If Ocwen is only servicing my loan, then who holds the mortgage? I found out when I tried to refinance that Ocwen, against their protests that they don't, really does. But I've never seen or signed a mortgage agreement with them. That's legal? Believe what they tell you. We know the truth. We've lived/are living it. You only work for them.

Jon, Robin and Julie's agruing is not helping anyone. All you guys are doing is trying to out-do each other with the name calling and proselytizing. No one is getting help by that. To those who are having trouble with your mortgage servicer, I have some questions: 1) Have you been making your payments on time every month? If not, then expect late charges. 2) Have you been making your payments after the 30th day? If not, then expect derogatory credit reporting. 3) Did you not make a payment 3 times in a row? If not, your loan is going into foreclosure. Read your Note and Mortgage that YOU signed. It allows your mortgage servicer, (whether it's Ocwen, Countywide, Bank One, Saxon, Any Bank USA) to assess late charges, to report your loan truthfully and acurately to the credit bureaus, and to accelerate your loan in order to protect their interest in the property. When your loan is placed into foreclosure your mortgage servicer is allowed to hire an attorney and to assess their fees to your loan because you did not pay like you were supposed to. Period. Unfortunately, it does not matter if you lose your job, your spouse dies, you get injured at work or in a car crash, get real sick, etc. If you do not make your payments, this is what will happen. Period. When you read this you will be mad and act incredulous, like you have in your comments above. But hey, this is the way it is. A mortgage is a signed, binding contract that the mortgage servicer is allowed to enforce. There are laws that the mortgage servicer is to follow, like RESPA. It all boils down to one thing, make your payments, and make them on time and you will have an uneventful mortgage experience!!!!!!!!!!

I think Julie has been sniffing that petroleum jelly too long. It has obviously gummed up her brain cells and turned her thought processes into mush! Give it up, Jon. It will always be the borrower's fault to Julie. After all, she floats so far above us that the lack of oxygen seems to be affecting her mental state. Mortgage servicers, none of them, do any wrong. We are all crazy, demented, and hallucinating the same terrible nightmare. Ocwen would have never stolen your home and your equity. Litton Loan has never wrongfully foreclosed on a home. EMC does not steal homes. Fairbanks Capital never did, either. We all dream up the pyramiding of late fees...mortgage servicers just don't do those things. (Excuse me)...Ha,ha,ha,ha,ha,ha,ha,ha,ha,ha,ha,ha. It would do no good to tell Julie that Ocwen voluntarily took a federal charter and then voluntarily relinquished it. It would do no good to tell Julie that there was no involuntary de-banking on Ocwen's part. It will do no good to tell Julie WHY Ocwen voluntarily de-banked (although it is on this site if she could shut her pie-hole long enough to look). It would do no good to tell Julie that Ocwen is involved in 27,207 legal actions as of yesterday because it is crooked and incompetent and likes to FORECLOSE BECAUSE IT IS PROFITABLE. Because that is how Ocwen (and others) services it debts and its investors..through fees and foreclosures. She will never address PMI because that would blow her little "Foreclosure is not profitable, the servicer would much rather work with borrowers" bag of BS right out the window! Oh, no, she will continue to spread her disinformation, sprinkling it all down on we lesser beings like a soft rain from heaven. Oh, wait, she floated a little too high and that is her petroleum jelly melting on us! I have dialed my hotline to God to make a request for some new guardian angels. Some that do not suffer from "stupidblinditis"..... I just wonder WHY this frantic campaign to spread propaganda on behalf of all mortgage servicers and banks...is somebody getting nervous? So, Jon, have a Happy Fourth of July. Hopefully, Julie will not get someone else thrown out of their homes with her "Don't Worry, Be Happy" message over the holiday weekend.

It's now obvious Julie is just an Ocwen shill gleaning info through provocation.

It's now obvious Julie is just an Ocwen shill gleaning info through provocation.

It's now obvious Julie is just an Ocwen shill gleaning info through provocation.

It's now obvious Julie is just an Ocwen shill gleaning info through provocation.

You just don't get it do you. I was never late! I never had problem making my payments. I had no problem fullfilling my part of the contract. It was Ocwen that could not and would not, Get it!!!. That was never a problem. You are beyond obtuse.

Okay Jon, finally some sense out of you, sort of. You see, if someone can't afford their mortgage payment each month due to hardship, selling is a GREAT idea. But none of the people here on rir actually admit that. Sometimes they admit they got behind, but most won't admit they can't afford it in the first place. Were they a victim of predatory LENDING, possibly. But not always. So you jumping ship when you got behind wasn't a bad thing to do. It saved you further problems. I would and do recommend that to anyone who is in a hardship they don't see a recovery for in the near future. Each of these situations is different. You can't make a blanket statement that if your loan is with OCWEN you are doomed. It all depends on what is going on. So, when they post their situation, we respond with advice or we ask questions. But saying, EGADS, run for your lives isn't always the best answer, but that is your answer for everyone.

I'll try to make this as simple as possible so that even you (Julie) may understand. The only thing that prevented Ocwen from stealing all the equity in my home is that I acted extremely quick. As soon as I read all the posts about how Ocwen and others run their mortgage servicing scams, and then confirmed it through independent agencies. I sold my house soon as possible. If I would listened to people like you I would not have been able to salvage anything.

I don't get it. What is so hard to understand here. They de-banked involuntarily, now they do so voluntarily. There are still being closely supervised either way.

I thought Julie was just a cheerleader. Instead it turns out that she is our very own heavenly guardian angel floating high above us all. She is all-seeing, all-knowing and has our own best interests at heart. "Thankfully, most of these are sub prime and not something I have to worry about." Ah, what a neat touch of superiority there. I say "If you have not been in the mud-filled trenches (or know someone who has) with one of these crappy mortgage servicers, shut your pie-hole". Clear enough? You obviously have no experience with the issue and can't figure out that there is not one Commandment (law, rule, or mortgage contract) some of these mortgage servicers hasn't broken or will break to increase their FEE income. They service their debt and their investors with FEE INCOME. They service borrowers, too, but in an entirely different way. Got that? "...if they would read some of the advice posted by some decent people, they might be able to remedy their problems." Floating so high must be affecting your heavenly brain cells. I did not think angels were allowed to judge folks and that was strictly God's venue. Isn't that what happened to Lucifer? He sort of wanted to take over God's job? Just look where he wound up. While I resent the implication that I am not a "decent" person, as a lesser heavenly being, your judgment matters not one iota in the great scheme of things. By the time people come to this board with a complaint, it is usually because they have exhausted all the "normal" avenues you suggest. By that time it is necessary to develop a healthy case of paranoia and assume that the borrower is being railroaded. I have gone so far as to suggest that people enter proof of each payment into public record at their courthouses every month. Does that sound like giving up? Heck no, that is pre-emptive self defense. If you have to go to court, have things in readiness so that the judge cannot ignore your evidence. Judges do that, you know. All the time. You are here to assure everybody that it is all OK. "It is legal, it is in the mortgage contact. Let them keep your insurance check, it's OK. Let them add all the late fees they want, it's OK. Let them come and get your home, it's in the contract. I will be here with a big jar of petroleum jelly to ease your pain when you get bent over." I am not sure why you are here, but I sense there is more to it than you simply "wanting to help people".

Listen, I am not a HUGE OWCEN fan. What I am a fan of is helping people understand their mortgages. A lot of people on here simply don't understand mortgage servicing, OR they don't understand the documents they signed at closing. When I bought my first house, I could be counted among this majority. My payment went up the first year, I couldn't understand it, I had a fixed rate. I didn't come on this site and pitch a fit. And it turns out it wasn't a rip off, it was an escrow analysis and my property taxes went up. Simple explanations for about 75% of the posters on here. But instead of trying to help, we have you Jon, Cher and Robin, scaring people and making them believe they have ALL been ripped off, when they ALL have not been ripped off. When you rant like that, you make them think things are completely hopeless because they are with a bad servicer, when if they would read some of the advice posted by some decent people, they might be able to remedy their problems. Please try to help people, and quit trying to hurt them. If they throw up their hands and give up, which some of the fanatics tell them to do, they will indeed lose their house, and they will have you to thank for telling them it is hopeless. I personally don't like OCWEN, or AmeriQuest, or EMC, or Homecomings, and not even WAMU. Thankfully, most of these are sub prime and not something I have to worry about. Except WAMU and everytime I get a loan, I somehow end up with them. Frankly, I didn't have any issues with them, but I have heard and seen proof of some bad things with them as well. What you need to know on a personal level, is that I am a single mom of three children, I work hard every day, and I am not on the payroll of any of these companies. (Heck, I wouldn't have time to post here if I was). There are bad situations out there and probably places where OCWEN or some other mortgage co is treating someone badly, I don't doubt that for a minute. You have people that get paid $7.50 an hour working there, and you don't get good service. But remember that there is a way to HELP a lot of these people, I kind of think that is what this site is for.

You might want to visit the site posted below just to have a good laugh. Athough, you don't want visit it after having a recent meal. It's really pretty sickening once you think about it but it's right on par for the scum at Ocwen. I'm sure the little cheerleader will beleive every word and most likely has it posted on her wall. http://www.ocwen.com/custServiceAccolades.cfm

Looks like the little cheerleader is really confused again. Robin stated the following in his last post: As of June 13, 2005, the OTS has approved the Ocwen FSB voluntary application to de-bank. I think it's time for Ocwen shill to climb back under her rock.

The only time you will find me on my "knees" Jon, is when I am praying. But now, you can see I am not on my knees, and Robin is the one that is wrong (what else is new??). Because you see, OCWEN was indeed de-banked June 13, 2005. You can see that at www.ots.treas.gov, then check new releases, because guess what, Judith is wrong. I am bowing now, thank you, thank you one and all.

Julie, You need to be much better informed to keep up with Robin. You see, I told you that you would be back on your knees in no time at all. You should really give up before you make a complete fool of yourself again. Thanks Robin!

Ocwen is no longer under the supervision of the OTS and the supervisory agreement is NULL. Done. Finished. That supervisory agreement was put into effect over a year ago and is no longer valid. While Ocwen was under the supervision of the OTS, the OTS did ABSOLUTELY NOTHING for any individual borrower that I am aware of. Ocwen will have to apply for a license in each state it wants to do business in and supervision will revert to those states. Hopefully, the states will do better reining in the beast than the Feds did. As of June 13, 2005, the OTS has approved the Ocwen FSB voluntary application to de-bank. There are some paperwork items and other conditions involved for compliance outlined by the OTS. Ocwen has 120 days to fulfill its mandate to comply, unless either side chooses to ask for extensions. The details may be read in this letter from the OTS to Mr.William C. Erbey here (PDF document): http://www.ots.treas.gov/docs/4/480191.pdf

Very interesting...Are all of you naysayers that say there is NO REGULATION reading this post? Guess what? There is regulation. Very interesting indeed. What the poster does not mention is that this kind of thing does take years of audits and investigation, but now that they have what they need, they have indeed taken action. Thanks for the post. There are many that are under the false belief that somehow places like OCWEN are not regulated by any government agency. Lo and behold, they are.