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Ocwen loses two mortgage servicing contracts

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Mortgage Professional America | 02 Mar 2015, 08:57 AM Agree 0
The troubled mortgage servicer, which is dealing with a mountain of regulatory and legal issues, was just hit with another avalanche of bad news.
  • Moe | | 02 Mar 2015, 05:40 PM Agree 0
    Crocodile tears. Ocwen has always been very difficult to deal with.
  • Poof be gone | | 02 Mar 2015, 06:48 PM Agree 0
    they are the worse mortgage company ever. they misapplied payments we have had to pay for two payments in which they lost and can not find even after us sending them repeatedly our checked that were cashed thru our bank. and it still reflects on our credit that we are behind for the pass two years. and we have never ever been pass due on our note. they did one of my close friend like this to when she applied for a modification they didn't add her taxes and insurance in the new modification although she has documents that states otherwise they have been sending her foreclosure letters for the pass 6 months so we are still waiting to see what will happen with their home it was actually suppose to been paid for in November 2014 but we have to see if they are going to foreclose on it or what she has had 9 different investigators handling her file and each time they say something different. I would love to see them VANISH OFF THE FACE OF THE EARTH, THEY Are scum bags. no one does their job just taking people money and not posting payments correctly I sure hope ELIZABETH WARREN get their ASSES! they are a rip off.
  • goodbye | | 02 Mar 2015, 07:19 PM Agree 0
    Dear Poof be gone
    It sounds like they are scum bags.
  • Moe Z. | | 03 Mar 2015, 08:45 AM Agree 0
    All of the above is true, and one of the reasons is that the left hand doesn't know what the right hand is doing, especially since one hand (top management) is in the US; and the other (middle management & lower employees), are in India. However, can't blame all the problems on that alone. Ocwen policy, even before everything was moved to India, was such that every file that they boarded was already in foreclosure, even if the property owner was paying on time. By the time Ocwen was done with the file, the client was begging for mercy!! And there you have it. So...it's only fair that now Ocwen should now be doing the same. However, I doubt it. The owners, Bill and John Erbey, are home and laughing all the way to the bank. You'd think someone would have figured this out, after the debacle with the banks, real estate, and the economy. Ocwen has been getting sued from day one and it never cared. Obviously, that hasn't changed. Good luck everyone!
  • perfparjer | | 19 Mar 2015, 08:52 AM Agree 0
    Beware OCWEN home listings. I'm still waiting for OCWEN to get title to a foreclosure they listed. I wrote the offer and when we were ready to close OCWEN delayed because they could not convey the asset. We are now 45 days later and they will not even render a progress report. This is for Washington State. Our MLS listing forms require sellers to represent their right to sell a property which infers a need for clear title. Oh, I forgot, we have to use OCWEN forms to list their fraudulently listed properties. If you are a listing agent for OCWEN assets, beware!
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