Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Will this pastor save Ocwen?

Notify me of new replies via email
Mortgage Professional America | 21 Jan 2015, 08:05 AM Agree 0
In an effort to repair its reputation, Ocwen has appointed a pastor and a charity executive to its board. Also, billionaire William Erbey is getting a cushy severance after he stepped down as executive chairman of the troubled company.

  • SickofGreed | | 21 Jan 2015, 09:33 AM Agree 0
    He's laughing all the way to the bank. Who says crime doesn't pay.
  • Qualityquest | | 21 Jan 2015, 09:47 AM Agree 0
    Surprisingly, this company has efficiently serviced the mortgage on my rental for several years. I have had no issues whatsoever. But then again, I have paid on time.
  • Brocky | | 21 Jan 2015, 02:06 PM Agree 0
    Erbey is a complete crook and should be in jail. The overall management of OCWEN is equally as guilty as Erbey. I would never do business w/ OCWEN nor would I ever recommend them to any consumers.
  • Confused | | 21 Jan 2015, 09:09 PM Agree 0
    @Qualityquest Why do you bother paying on time, or at all? If you stop paying, you'll become part of a protected class of homeowners and eventually receive principal reduction, payments via state settlements, and the ability to get quoted in newspapers about how unlawful mortgage services are.. Ocwen and other services are far from perfect, but the data doesn't lie and the data illustrates that the Ocwens and Nationstars do a much better job servicing mortgages than the big banks...the same big banks that gave all of these 'abused' homeowners their mortgages in the first place. Unfortunately, Lawsky and the media are going after the wrong characters. Hmmm, I wonder why?!?
  • MR H. | | 21 Jan 2015, 10:24 PM Agree 0
    Their foreclosure dept. is inept and keeps trying to circumvent State (Washington) laws and the Foreclosure Fairness Act... secret foreclosure attempted, trustee quit, conferenced called the new attorney with their customer service Sr. level representative to school them on proceedures... they will take you for a ride if you don't stand up for your rights in the transaction... 2 Big 2 Fast... but not to big to fail.
  • Moe | | 22 Jan 2015, 09:34 AM Agree 0
    The foreclosure process starts before any owner is actually in foreclosure. They are paying on time, but are misinformed by the bank/entity that is selling the mortgage and Ocwen, who is buying the mortgage. Ocwen automatically puts every file they buy into the foreclosure process because they know that they won't be able to complete their own mortgage uploading procedure before the 90-day time frame allowed by law. So, of course, the file is in foreclosure by the time anyone has the information to actually notify the owner of the correct "new payment" information. All their payments have gone to the wrong place and no one cared. Their only clerks and don't have any of the proper information (or they're in India). Then there is the fact of Ocwen not having the correct paperwork for the mortgage in the first place. More times than not, the original Note is missing and other important documents needed to prove Ocwen is actually the owner of the mortgage. However, none of this matters, and if you check the Internet, you would see that Ocwen has been sued for all of the above and more, since the early 1990's. Poor Ocwen...poor Erbey!! Right.
  • Pdiddy | | 22 Jan 2015, 09:59 AM Agree 0
    Erbey is getting $1.2 million in cash and lifetime medical coverage for he and his wife. Ocwen will pay Erbey $725,000 as a severance payment, $475,000 in lieu of relocation benefits, and the lifetime health insurance.
    What did I get? My home broken into and all my personal belonging stolen by a Ocwen employee and then they locked me out...after the mortgage was paid off...They tried to steal my home but was caught red handed trying to foreclose after the home was paid off. Its been two years and I still do not have title to my home and have not been compensated for my losses yet Mr Erby gets millions and lifetime health benefits...what do I get? I get screwed....I have to spend tens of thousands fighting Ocwen in a court of law just to get my deed of trust back and Mr Erby gets to go sunbathing....He breaks the law and goes on lifetime VACATION..
    Sound about right lawmakers today have no appetite to enforce any real penalties for their buddies in finance...when was the last time you heard of someone going to JAIL in the banking industry...its been over ten years..isn't about time they do their job.
    Erby needs to reflect on how his wealth was created on the backs of poor folks not bask in the fruits of his labors....most people who do this do it in jail...he gets to do it on some island sunbathing drinking margaritas with his wife with not a worry in the world.
  • Pdiddy | | 22 Jan 2015, 10:17 AM Agree 0
    Qualityquest, I paid on time. I even used a lawyer firm and CPA to pay the final payment of over $200 grand. I got canceled check cashed by Ocwen, those agents in India kept calling me and threatened me with foreclosure. When I showed them the cancelled check over 20 times they just ignored it and processed me as if I was delinquent. Even their foreclosure company Western Foreclosure owned by Ocwen also in India after great debate stopped the foreclosure due to a lack of paperwork. They had no standing to foreclose and sent the paperwork back to Ocwen. Then Ocwen used Altisource another Mr Erby creation and sent a property preservation team to my home while I was at work. Altisource called my home abandoned and entered it and removed all my personal belonging and stole all my files pertaining to Ocwen including a copy of the cancelled check Then changed my locks so I could not get in. Good thing the original cashed check is in my CPA possession. They did this without even filing a notice of default no notice not even a phone call.
    This the class action lawsuit for not sending deeds of re-conveyance to home owners who homes are paid off.
    Not to mention my personal lawsuit along with over 30 thousand individual lawsuits nationwide. Wait until your rental unit is paid off and you try to get your deed of reconveyance, chances are you too will have to sue them to get one....Ocwen to date has only shown me copies of non recorded deeds of trust.....got to ask what is that all about
Post a reply