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Ocwen woes continue as yet another state sues

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Mortgage Professional America | 21 Apr 2017, 04:15 PM Agree 0
The mortgage servicing giant is not having a good week
  • Share my experience | | 22 Apr 2017, 05:38 PM Agree 0
    Ocwen bought servicing from GMAC with intent to deny modifications. A rep with Ocwen said Ocwen had no obligation to honor prior modifications made by IMPAC or original servicing entity GMAC. IMPAC solicited a default while GMAC was servicing the mortgage, promising lower interest rates in addition to charging a fee made directly to IMPAC reps to obtain modification with a low interest 8 yr ARM. They immediately transferred the mortgage from GMAC to Ocwen who declined to recognize the new modification. Some would say this is a RICO fraudulent scam since IMPAC's representatives actively used their 'holding' position to charge over thousand $$ for a modification knowing it was fraudulently obtained and would not be honored. This bogus origination fee went through IMPAC reps. IMPAC sold or handed off servicing to Ocwen, who played the 'heavy' in denying modification. GMAC was 'out of the picture' entirely in soliciting or originating a modification. This was a vicious deceptive scam with intent to defraud innocent home owners. It smacks of a RICO fraud against IMPAC, GMAC and Ocwen!
  • LIONEL SMITH | | 23 Apr 2017, 12:04 AM Agree 0
    Ocwen modify a mortgage in 2014, a good thing, Service it for two years, then suddenly start sending the payments back staying the mortgage had reach maturity and wanted the principal balance completely paid off, a whopping $41,000! We sent re-modification packages all of 2015 to no avail then Ocwen sold to SLS... a step child of Ocwen with the same characteristics, lie, delay, delay, misplaced 4506T

  • GA Seek | | 01 May 2017, 02:15 PM Agree 0
    I have complain to GA State Attorney about Ocwen on many time..Nothing did about since 2012
  • GASeeker | | 01 May 2017, 02:16 PM Agree 0
    I have complain to GA State Attorney about Ocwen on many time..Nothing done about since 2012 Statement mail out to Ocwen
    8 times never fix the problem .
  • Moved on long ago | | 05 May 2017, 11:46 AM Agree 0
    Never had a mortgage company who would not even respond to request, hired atty, they would not respond to even his written requests to correct their servicing issue. Even though their actions were simply illegal. My choice was to sue for years! Or leave them alone. And this was a long long long time ago when they changed over from Berkeley Federal....it appears they never effectively changed and just rolled on.
  • Escrow Increaasing | | 24 Nov 2017, 03:56 AM Agree 0
    Is the only recourse here.. to pay for a refinance...??? before something happens much worse like for then the random escrow increases, etc I am not comfortable with a company that has this reputation...
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