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Ocwen’s terrible, horrible, no-good, very bad day

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Mortgage Professional America | 21 Apr 2017, 12:15 PM Agree 0
Ocwen couldn’t catch a break Thursday; immediately after more than 20 states hit the servicer with enforcement orders, the CFPB announced it was suing the company
  • Jeff | | 21 Apr 2017, 03:21 PM Agree 0
    Ocwen is just another abuser of the system in place. They will pay big in the end. I have dealt with them in more ways than one being a mortgage broker and always found their customer service to be lacking.
  • Cathy | | 24 Apr 2017, 04:11 PM Agree 0
    When Ocwen first started handling my mortgage I had a really difficult time with them. I reported them to my state Department of Financial Institutions who sent them correspondence and that helped a lot. Then I applied for a mortgage modification and that was put in place which lowered the balance I owed plus my interest rate and monthly payment. Now at the end of each year Ocwen pays an amount on my mortgage for me when I make 12 on time payments. So as far as I can see they've made a lot of improvements over the last 8 years or so.
  • Sara | | 24 Apr 2017, 04:28 PM Agree 0
    Yes, I'm a home owner whose mortgage was sold to Ocwen and I had nothing but trouble every since , my mortgage has be constantly rising due too not enough finance in my escrow and that's a bunch of bull cause every month I sent extra and they applied it where they wanted to now since everything so they said went up I have to pay more last year it went from 821 to 843 and this year in March it went from 843 to 911 and in April it went from 911 to 943 they said it because my state taxes went up and everything is prorated I ask can I send more for my escrow and they told me that and whatever is left over can it stay in my escrow and they told me they can not hold it there and that they would've to send me a disbursement check and I ask why not let it stay just in case something else goes up and they said no that against their policies, now I'm trying my best to have my mortgage on time every month but I actually think they're trying to steal my house please help me I take care of my mom daughter and granddaughter I don't know what else to do ( class action lawsuit)
  • CD | | 25 Apr 2017, 12:03 AM Agree 0
    Ocwen and I have had our ups and downs. In 2011, I did a mortgage modification because I was unemployed for almost a year. I thought it was to help me and it did temporarily. It wasn't until last year that I understood what took place. They put a HUGE balloon payment​ on the end of my mortgage which means there is no equity in my home. I had to call for months to get the story straight as to what really happened. One customer agent told me that wasn't the case, and the balloon payment was included in the amount due, another told me it wasn't included. Finally a manager confirmed it was included. I have inquired multiple times to find out who actually owns my mortgage but never got that info. Maybe they sent it and I just didn't get it. I finally gave up asking.
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