Ocwen Loan Servicing Review
Ocwen Loan Servicing is a mortgage servicer of primarily subprime first mortgage loans owned by Ocwen Financial Corp (NYSE: OCN). We uncovered five phone numbers, their website, and some of the worst customer complaints in the mortgage servicing industry.
Ocwen Loan Servicing Website and Phone Contacts
Ocwen Loan Servicing Website: http://www.ocwen.com/
Ocwen Loan Servicing Phone:
(800) 390-4656
(800) 241-9960
(800) 746-2936
(877) 596-8580
(877) 776-2936
FAX: (866) 771-5152
Address: 12650 Ingenuity Dr, Orlando, FL 32826-2703
Ocwen Loan Servicing Review
Ocwen Loan Servicing services mainly subprime mortgage loans and according to past customers, Ocwen has one of the worst customer service track records a mortgage servicer can have.
If you are facing foreclosure, you need information (before you call) on just how to deal with these “bad custormer service” mortgage servicers to get your loan modification, click the link to learn more, Stop Your Foreclosure Now!.
When I searched for complaints against Ocwen Loan Servicing, I found the worst complaints a mortgage service can get levied against them. Click to see all the Ocwen Loan Servicing complaints listed in Google.
BBB Activity on Ocwen Loan Servicing
“Based on BBB files, this business has an unsatisfactory rating with the BBB due to unanswered complaint(s).
Number of complaints processed by the BBB
in the last 36 months: 520
in the last 12 months: 193″
See Comments Below to Add/Read Customer Opinions On Ocwen Loan Servicing
We would really like to hear your experience with Ocwen Loan Servicing , so put your comments in the section below.
Thanks!
UPDATE 8/27/09: A recent report was released by the Center for Public Integrity charging Ocwen Financial Corp and other subprime lenders are profiting from taxpayer-funded bailout programs after causing the problem in the first place. To add insult to injury, these same companies often own servicing companies that show an obvious lack of enthusiasm to modify mortgages facing default.
The report states that Ocwen Financial Corp is slated to receive $553.4 million of bailout money designed to incentivize loan modification efforts which seemingly is going for not since an August 4 Obama Administration report shows Ocwen only has 5% of it’s troubled loans in modification.
Author: The Mortgage Insider
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tb and w sold my mortgage to ocwen, since then they have lost an entire payment that i sent to tb and w and my principle has not gone down a cent after 3 payments…? something is very fishy about this company. if they own your loan, PAY ATTENTION TO YOUR STATEMENTS. i may be getting a lawyer and i WILL be contacting my local BBB and consumer protection agency. i really want to just walk from my house that just dropped 30000 in value(which is not bad compared) and let them deal with it, i am sick of getting screwed by wall street and these crooked ******* banks
They foreclosed on my home while I had a loan modification in review on 9-24-09. I even had a third party handle the details and she was told on 9-15 that I had been approved and they just need to do the final calculations that it was just a formality. BS! They never sent the agreement to me and I called three days later and was told that i was not approved that it was still in review. I let them know that the sell date was the 24th and the third party asked for an extension and was told that it was up to the attorney when the attorney told me they needed Ocwen to tell to stop the sell. I mean these people are not in Florida they are transferring our calls to India. WTF how are they suppose to know anything. It is a scam what have they done with all the money we paid them. I too had my mortgage through Aegis and they sold it to Ocwen. I wish I never would have bought the house with a 2 year ARM because after 2 years that is when my nightmare began, my payment jumped from $512.28 to almost $800.00 a month no way i could pay that. We need to do something we need a class action does anyone know what to do about it. We are most likely going to evicted and sued for unlawful detainment. Is there no one that can help. Let’s do something about this!
My loan was transferred to Ocwen from Taylor Bean. I applied for a Modification and when I called to follow up was told it was denied due to income. I was transferred t osomeone who they promised would help me keep my home. I was then told that they will take the past due payments, put them on the back of the loan and lower my interest rate. I indicated that I have more income (as I got an additional job) and the rep said that she did not need the additional info. This raises numerous questions for me. 1. Why would you not want the added income to check on the modification? Why can I get the refinance with the same “lack of income” as they put it? and why was I given a forebearance on my rental home with a modification from Bank of America on this same lack of income???
I have applied for a loan modification 5-6 months now from Ocwen and in that time, I have only received 1 return call to say I need to send additional documentation. When I first started the process I was able to contact them and they were able to confirm that they received our documents and it will take approximatly 30-60 days. After about 45 days I started calling and I am sure everyone nows their recorded message, that a modification takes approximately 90 days, so I gave them the benefit of the doubt. After 90 days I started calling again, about 3 weeks later (early August). I received a call from someone stating I needed to send updated pay stubs since it had been awhile and all my paper work was fine; he stated once he received this it will only take about 2 weeks for me to get the figures. I scanned the documents and emailed them. After 2 weeks I started calling again and resent my scanned documents, well it has been over a month later and I only spoke to someone once. You could hear him reading from a script and did not understood anything I said, he just kept repeating his script. During this time I have gotten documents for foreclosure for November. I call 2-3 times per week. I keep getting a voice mail to a man that states he is processing loans until 2pm and will return calls after that time and he will get back to you within 24 hours. I live 10 minutes from Ingenuity Drive; and we can’t seem to find their office. I am going to try again this week. I am so nervous it’s unbelievable.
To Living on Anxiety Pills,
My advice to you is to engage a good lawyer to help you with this. Lawyers have a way of getting to people who actually make decisions and get processes done. The attorney will also create a strong case file that can be used to deal with Ocwen in the future. I avoided getting a lawyer for far too long. My reason was money. I felt I couldn’t afford an attorney, because the few I went to wanted very large retainers. But then I found a good attorney who didn’t require a huge retainer, and at our first meeting, he got through to a person who refused to return my calls for months. Within a month, I had a modification agreement in place.
If you do get an agreement, you do have to stay on top of Ocwen and watch your monthly mortgage statements like a hawk. They will continue to stick you with charges, if they can get away with it. (Phony late charges, monthly “property valuation” charges, etc.)
Dear Richard, I am in the same predicament as you were in. Can you provide the contact information for the attorney used in this matter as I believe he could either represent me or refer to another one locally.
Thanks.
Hello Richard,
I was with TB&W who had provided me with a Trial Modification.
I too was transfered to Ocwen, I have continued to make my payments even though the Trial Plan time period is over and getting no firm answers Ocwen reps tell me different things once got a call from Ocwen rep who said mod was approved and just make payments for Oct and Nov then all would be fine. Since have been told still working on it and want more documentation.
I see your infomation about a lawyer could you send name of your lawyer? Need help desperatly! Please help with info
Thanks
Theresa E.
Theresa,
My advice to you is to find a local lawyer who understands real estate law. The attorney I used was recommended to me and he is local to me. You need to find an attorney in your area that you can meet with face-to-face to discuss your case. I got my modification agreement after my lawyer made a few key phone calls. After that, I was able to have sensible phone conversations with Ocwen people.
I must also tell you that I am not yet in any comfort zone with Ocwen. I now get almost daily automated phone calls from Ocwen telling me to call a specific number, which is the department that oversees the account after the modification has been granted. When I call the number, they say that I should “just ignore the call, because you are current on your modification agreement.” Then I suggested that they stop making the calls to me, and their response is that they don’t know why I am receiving the calls. This issue is not over for me yet, and I anticipate further problems, because the Ocwen system is so huge and complex, and one department has no clue what other departments are doing. They should not be in business.
I strongly suggest that you call Ocwen frequently about your case. If possible, call in the evening or later at night when their call traffic is down. Record the calls if you can or keep detailed notes of every conversation, including the name of the person you spoke with. This information will help the attorney you engage to track down the appropriate people at Ocwen. Ocwen purposely sets up an impossible maze for mortgage holders to wade through. Your atrtorney can cut through that maze.
Again, I encourage you to check your local bar association and check with friends, etc. to find a local lawyer who can help you. Ocwen talks a good line, but I agree with many others that they really have little desire to help people. They received 500 Million dollars from our federal government to help resolve these situations. Write your congressman and your senators and ask them to follow up on Ocwen. You have a right to know how Ocwen is using that money to help people like you. You can write one good letter explaining your situation. Send it to President Obama, with a copy to your congressman and senators. Ask them to reply back to you. We all need to keep their attention on this issue.
Don’t give up, I have exactly the same problem. Call your congressman and the President if you have to. Ocwen has no intention of helping people. They make more money if you foreclose. Perhaps a class action lawsuit might be the answer.
I too went through the same…. In 2007 I settled for a forbearance agreement that I knew I couldn’t afford because I did not want to loose my house. What ended up happening was my situation got even worse and I ended up not following through with it. Then in april I received a loan modification package filled it out and faxed it with all required documents. A couple of days later I called to make sure they received it and was told that they got everything that it would take 10 days to process. I then called back after the 10 day period and was then told they were missing my tax forms. I then recent my tax forms and then later was told I was missing my utility bill . After 2 weeks of going back and fourth with them with missing docs that I’ve sent to them many times I was told it would take 30 days… 30 days turned into 3 months, I finally received my modification agreement in June 09, after at least 35 calls of follow ups and missing docs. And even after I completed my trial period I still was having issues with how they were posting my payments and still receiving late and past due notices. I believe that if I didn’t stay on top of them and make sure my loan was treated just as they say it would be, my loan would have fallen through the cracks just like many. There were times where I just wanted to pull my hair out and mind you this was after my loan was modified. So my recommendation to anyone dealing with a modification make sure you treat it like its your baby and don’t take anyone’s word…. Make sure you are on top of your loan from beginning to end and everything in between
I have been with Ocwen since about 2005 after my mortgage was sold to them by Aegis. Since then, I have gone through a rate hike that has made me have to file for bankruptcy. I tried to go through the loan modification process ;but, as one of the others has said it did not work to my good . It actually caused me more problems. Even after the modification ,I began getting letters asking for larger payments , including attorney fees and other add ons. They also added homeowners insurance to my payment even though I proved I had my own . They said it was not adequate. I have had some other problems with my calls not being answered and then when I did talk to someone they were very rude. I was not aware that they received bailout money until now. I would like to know why they got it . They have done absolutely nothing to help us with it. I think this is an outrage !!!