OCWEN FINANCIAL CORPORATION
Consumer Complaints
There are over 28887 complaints on file for OCWEN FINANCIAL CORPORATION. Dated between 2019-12-16 and 2011-12-07.
Complaints Page 118
2018-02-12
Arletta, WA
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Investigation took more than 30 days
Complaint: On XX/XX/XXXX I sent a certified letter to OCWEN asking OCWEN to correct information reported on my credit history. I attempted to resolve the issue with the credit reporting agencies, but they directed me to OCWEN ( OCWEN acquired the mortgage from GMAC ).
On XX/XX/XXXX, I submitted a claim with XXXX due to the delay in responding to my XX/XX/XXXX inquiring. OCWEN acknowledged receipt of the XX/XX/XXXX letter, but could not verify the account or information. OCWEN 's response attempts to do two things - ( 1 ) debate the validity of my request without verifying information ( they can't find the record ) and ( 2 ) direct responsibility for the misreported information to GMAC.
OCWEN acquired loans from GMAC and is listed on my credit report ( Attached ). I can't not accept shifting blame to GMAC. Also the Fair Credit Reporting ACT requires a creditor to verify any reported information within 30 days .... according to OCWEN 's own letter ( attached ) they were unable to. I am considering legal action regarding their inability to adhere to the FRCA.
Company Response: Closed with explanation
2018-02-11
NY
Trouble during payment process
Mortgage: Reverse mortgage
Complaint: I took out a reverse mortgage in XX/XX/XXXX. It was initially serviced by XXXX XXXX XXXX XXXX of XXXX XXXX XXXX XXXX, MI XXXX. The servicing was later transferred to OCWEN, XXXX XXXX XXXX, XXXX, MI XXXX. ( The identical address leads me to suspect it is the same company with a different name. ) I believe this company is overcharging for the Mortgage Insurance Premium ( MIP ) required for reverse mortgages by nearly 300 % when one takes into account their interest rate and their methodology for calculating payments.
In reviewing my annual statement, OCWEN is charging the Mortgage Insurance Premium ( MIP ) at 1.25000 % annual rate or 0.00342 % daily periodic rate, or 0.10417 % monthly periodic rate. Looking back at previous annual statements, ( see attached ) Liberty/OCWEN charged this rate every year on a monthly or daily basis instead of an annual basis thus further compounding the interest owed. According to Hud.Gov website regarding Reverse Mortgages ( HECMs ), under their heading HECM Costs, it states, " You will be charged an initial Mortgage Insurance Premium ( MIP ) at closing. The initial MIP will be 2 %. Over the life of the loan, you will be charged an annual MIP that equals 0.5 % of the outstanding mortgage Balance. '' Therefore, since XX/XX/XXXX, I have been overcharged at the rate of 1.25 % for MIP instead of HUD 's maximum rate of .5 %, and by assessing this charge monthly or daily, instead of annually as per HUD rules, it has grown exponentially larger than it should have. Speaking directly to the company has not been helpful.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-02-10
Atl, GA
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: Ocwen Loan Servicing, LLC is misreporting information on my credit reports. In my first complaint, they claimed that they verified only one mortgage account was reporting to the credit bureaus. However, I have copies of my credit report that substantiates they are, in fact, reporting two different accounts with two different open dates, and two different pay status '. Both accounts are reporting under " Negative Information '' and have severely and negatively impacted my credit reports.
In addition, according to the XXXX XXXX Reporting Guidelines, Mortgage Status Codes should be reported as Code 94 not Codes 71, 78, 80, 82, 83 or 84.
Ocwen 's ongoing misreporting is a violation of the FCRA guidelines.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-02-10
FL
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I have a mortgage loan with XXXX XXXX XXXX as the lender some time ago i was informed by the bank that my loan will be transfer to a new servicer at a certain date, to ocwen loan servicing, over a long period of time i herad nothing from the bank or the servicer i did try to make communication with the servier for over two years but was told that they had not receive any authorization from the bank as yet pertaining to my account, that went on for almost three years, finally they said they will Create an account for me and process a mortgage modification plan for me which they did and giving me a payment in the area of {$1400.00} .per month which i started to pay but when i tried to make a second payment my payment was refused on the grounds that my account was ivalid. and the payment i made will go in escrow, I made a QWR.of which they responded without any clear explination or to explain if they had authorihy to collect payments from me they eventually transfer the created account to another servicer who has it now i think the bank has violated certain laws by collecting mortgage payment without proper authorithy i am not sure if they have any authorithy to make any transfer.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-02-10
Waterbury, CT
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-10
OH
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: I declared Chapter XXXX Bankruptcy in XX/XX/XXXX Case Number XXXX and the disposition was XX/XX/XXXX. However, on my credit report it shows my two mortgages OCWEN and XXXX discharged in the Bankruptcy as discharged. I have been paying on these two loans every month since the Bankruptcy. Please see attached mortgage interest statements for both mortgages. This is affecting my credit in a negative was. I feel this is incorrect and unfair.
Company Response: Closed with explanation
2018-02-10
Key Biscayne, FL
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Company Response: Closed with explanation
2018-02-09
Houston, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: We purchased property in XXXX through a 30 year fixed rate mortgage originally as HUD property. HUD sold this property to Ocwen in XXXX. The original purchase price was $ XXXX at 10 % interest rate. We paid $ XXXX {$600.00} per month ( depending on the tax rate ) for 30 years. The final payment was XX/XX/XXXX for {$400.00} after which Ocwen said we still owed {$21000.00}. We hired a mortgage lawyer to check into what Ocwen said we owed past the maturation date of the loan.
The lawyer informed us that we did owe {$21000.00}. We disagreed but Ocwen threatend a foreclosure on our home. We wanted to avoid this so we sent them what they asked for to avoid foreclosure. We never missed any payments on our home. They asked for {$3000.00} in XXXX we sent that and they then asked for another {$300.00} and we sent that along with our regular monthly mortgage payment.s We paid our own homeowners insurance during the 30 years.
In conclusion, we would like to know why we owe this amount to Ocwen. Our records indicate our home would be paid off XX/XX/XXXX. We sent them the {$21000.00} XX/XX/XXXX. We have yet to receive our deed. We have only received letters to us concerning foreclosure assistance through XXXX and no receipts or acknowledgements that we have paid them anything final.We would like to obtain our {$21000.00} plus interest.
Company Response: Closed with explanation
2018-02-09
Atascocita, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-09
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: A number of years ago, I paid my mortgage {$20000.00} in advance. This was supposed to take care of payments for a number of years. Unfortunately, Ocwen continued to mark payments as late even though they had already been paid. I just went ahead and continued to send payments, as that helped. Most recently, I tried to make my payment on Ocwen 's website on XX/XX/XXXX, as I always do. This went as usual with no issues, or so I thought. When I returned to XXXX from XXXX vacation, I had a late notice from Ocwen in my mail. I went to their website, saw that the payment had not been made, and immediately made the payment for XX/XX/XXXX and XX/XX/XXXX. I reported this to them, but most don't even understand English in their customer service department. They have marked me 30 days late 3 or 4 times even though my account was and is paid over {$20000.00} in advance. Now, I'm having trouble getting business credit due to this unethical company. I have hired a credit attorney and my next step will be to take action if they refuse to correct this error.
Company Response: Closed with explanation
2018-02-09
Baton Rouge, LA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My Home Affordable Modification became effective XX/XX/XXXX with XXXX XXXX which gave me a new principle balance of {$210000.00}. According to the modification agreement, my new principle balance included all amounts and arrearages that will be past due as of the modification effective date ( including unpaid and deferred interest, fees, escrow advances and other costs, but excluding unpaid late charges, collectively, " unpaid amounts '' less any amounts paid to the Lender but not previously credited to my Balance ' ) It also states that all unpaid late charges that remain will be waived. In XX/XX/XXXX, my loan was transferred from XXXX to Ocwen Loan Servicing, LLC. On my XX/XX/XXXX monthly statement I noticed a prev-prior servicer fee in the amount of {$4900.00}. Over the years I've called and written trying to dispute the charge but up until XX/XX/XXXX, Ocwen could give me an explanation for the charge. Ocwen would tell me to talk to XXXX XXXX and XXXX XXXX would tell me, I needed to contact my current servicer because XXXX no longer serviced my loan. Finally, someone at Ocwen gave me a contract number for XXXX XXXX were I was told to put my dispute in writing., which I did. However, XXXX XXXX response left me even more confused. I have a {$98000.00} balloon payment, if I stay in this current loan so I am trying to refinance my current mortgage but I refuse to pay this {$4900.00} fee after my loan was modified. Also per Ocwen Loan servicing, LLC that so called prev-prior servicer fee amount is different on several of their documents. On Ocwen loan ledge entry date XX/XX/XXXX the amount is {$550.00}, on Ocwen answer to my written dispute, it was {$5500.00} but supposedly the current amount is {$4900.00} and on my current pay off from Ocwen, it states the amount is {$4900.00}. for a Posting Sale Cost.
Company Response: Closed with explanation
2018-02-09
Cheverly, MD
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: We challenged the alleged debt from Ocwen. We sent numerous debt validation letters to Ocwen Loan Servicing on XX/XX/XXXX. We received correspondence back from Ocwen on XX/XX/XXXX stating that they are still researching and they will respond within 10 business days. The following nine days, we received a second notice on XX/XX/XXXX showing an Escrow printout. We received a third notice dated XX/XX/XXXX showing that the loan originated on XX/XX/XXXX by XXXX XXXX XXXX, a Delaware corporation, for the amount of {$340000.00}, which is no longer in business. According to my research pertaining to Ocwen Loan Servicing, they are now listed as a third party debt collector and have numerous lawsuits filed against them, so therefore, they need to be fully investigated before initiating foreclosure. In regards to Ocwen Loan Servicing we received a copy of the Deed of Trust, the 1003 Uniform Loan Application and the HUD1 Settlement Statement and the alleged Note. So according to the documents received, we noticed that the loan is in a predatory, truth in lending and RESPA violation according to the real estate laws. This loan is an adjustable rate mortgage which falls under predatory RESPA and truth in lending.
Company Response: Closed with explanation
2018-02-09
Bordersville, TX
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Buena Park, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Boston, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Lynn, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I tried with Ocwen to get assistance but kept getting denied. My husband I eventually had to file bankruptcy with a bankruptcy attorney. On XX/XX/XXXX we filed. It put a hold on our auction. We received a new date of XX/XX/XXXX. But our bankruptcy discharge wasn’t until XX/XX/XXXX. The week of XXXX we went to meet the bankruptcy trustee. No creditors attended. After that meeting we received another letter saying our auction was going to be XX/XX/XXXX. Now it took until XX/XX/XXXX to get the discharge. I contacted the bankruptcy div of Ocwen on the XX/XX/XXXX. The auction was on hold. By Monday when they received the concent by my attorney. It was off. Hold and we now only have less that 2 weeks. Shouldn’t we have received 30 days. They need that much for the loan mod paperwork. That’s all I want is 30 days.
Company Response: Closed with explanation
2018-02-08
MD
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My name is XXXX XXXX XXXX, I am an XXXX who represents the XXXX Family. I am filing this complaint on behalf of XXXX XXXX and her son, XXXX XXXX. In XX/XX/XXXX XXXX XXXX was XXXX. He is unable to pay his bills make phone calls, etc. He gave his mother, XXXX XXXX XXXX his authorization to pay bills and to give and receive information so she can conduct business on his behalf. XXXX XXXX has asked for my help in resolving this matter. In XX/XX/XXXX we mailed a check in the amount of {$4600.00} to Ocwen Loan Serving along with signed authorization. We used the US Post Office to send the check and authorization and paid for tracking. According to the tracking verification, Ocwen received on XX/XX/XXXX. At demand of Ocwen we also faxed the authorization on XX/XX/XXXX and XX/XX/XXXX, which they claim they did not get. We verified the fax XXXX. As you will see, the second fax number they gave us does not work. When my office could not get the fax to go through the second number, we asked the office next door to fax for us, it would not go through for them either. We want to know where the check is. Why they haven't applied the check to loan.
Company Response: Closed with explanation
2018-02-08
Clermont, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Halyoke, MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Federal Way, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-08
Lawncrest, PA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-02-07
Dallas, TX
Incorrect information on your report
Mortgage: Conventional home mortgage
Complaint: Have not been late on the account since XX/XX/2013 yet XXXX XXXX XXXX is still reporting late payments. Used a credit repair services, which did help in removing many false line items on my credit reports. However, unsuccessful in removing or changing derogatory items from XXXX XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-02-07
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-07
Old Bridge, NJ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-02-07
Canal Street, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation