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The bad news keeps coming for Ocwen Financial

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Mortgage Professional America | 24 Oct 2014, 08:56 AM Agree 1
The accusations against the largest U.S. nonbank servicer may put it in jeopardy with other regulators and threaten a pending multi-billion dollar deal.
  • John Rainville, Real Estate Broker | | 24 Oct 2014, 09:40 AM Agree 1
    OCWEN is still doing this. A client brought me a letter she got last month September 2014 dates November 2013.
  • JeffP Residential Lending Advisor | | 24 Oct 2014, 10:25 AM Agree 1
    I've recently worked with two clients who have suffered at the practices of OCWEN. Their practice seems to be to keep their customers in a hole and do their best to keep them from getting out while they collect above market rates and penalize with fees............sort of like kicking someone when they are down! I was able to help one client, the other is still under their evil spell with little equity. Hopefully the CFPB will be able to have some success putting them out of business. This is at least one of the positive missions that the CFPB has taken on.
  • Wm Matz | | 24 Oct 2014, 11:22 AM Agree 1
    I am an attorney [and broker] handling a case against Ocwen. I am seeing the same types of problems. But why should Ocwen do anything differently, when the Big Banks just get slaps on the wrists?
  • Gordon Schlicke | | 24 Oct 2014, 12:15 PM Agree 1
    Ocwen apparently didn't understand that the American system requires large re-election campaign contributions.
  • Jackie Connelly-Fornuff, Real Estate Agent | | 24 Oct 2014, 12:20 PM Agree 1
    They are one of the worst for short sales. They drag things out and it is probably because they would rather foreclose which makes no sense. They will get more money with short sale. They are horrible!
  • | | 24 Oct 2014, 01:07 PM Agree 1
    Working on a short sale with them for over 1 year, last mtg pmt was made in May 2009 when the homeowner died. At this point it is useless to continue on with them. The right hand has no clue what the left hand is doing.
    Terry
  • Dominick F Sammarone | | 24 Oct 2014, 01:13 PM Agree 0
    Wow, wow, wow! This is turning RED HOT! So much for ending the foreclosure crisis. Not a good time to be caught up in this mess. Homeowners and mortgage modifications are the best way out of this meltdown economy. It's unfortunate that Ocwen Financial Solutions is one of the nations biggest servicers. Bad time to be pulling this stunt now. This will hurt all of us economically.

    "We're on the road to no where"
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  • | | 24 Oct 2014, 03:16 PM Agree 0
    OUR EXPERIENCE WITH OCWEN HAVE BEEN VERY GOOD IN GENERAL, I HAVE HELPED ABOUT 2O CLIENTS PROCESS THEIR MODIFICATIONS WITH OCWEN AND BY FAR THEY ARE THE ONES THAT OFFER THE BEST TERMS FOR CUSTOMERS, WE HAVE WORKED WITH MOST OF THE MAYOR BANKS IN PROCESSING MODIFICATIONS AND WE ARE NOT AS SUCCESSFUL AS WE ARE WITH OCWEN.
  • daniel sylvia | | 05 May 2015, 04:10 PM Agree 0
    there so dirty..like the consent order says there diseptive every step of the game including naking the nodification then keeping you down with added on fees thatvequal all the equity in your home.tgey are ruthless and have only begun to screw you once you have the mortgage mod.better to not pay keep fuling a pendancy of action until years go by an you save four years an buy it in a short sale tgere very dirty tiil the end...with tge government being controlled by them all along....revolution
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