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 17
2019-09-30
FL
Problem when making payments
Credit card or prepaid card: General-purpose credit card or charge card
You never received your bill or did not know a payment was due
Complaint: I was shocked when I reviewed my credit report and found 60 days late payment on the dates XX/XX/2013 to XX/XX/2013. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-30
Saint Paul, MN
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
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-30
Oakland, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-29
Detroit, MI
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-29
City Of Sunrise, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-29
AL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: XX/XX/2019 PHH Mortgage ( Ocwen Loan Servicing ) ( XXXX XXXX ) attorneys XXXX and XXXX sent me a default notice on post petition payments for XX/XX/2019 through XX/XX/2019 in the amounts of {$380.00} each. With {$150.00} in suspense. Total default {$1300.00}. I have payment history print out from the company 's web site that say different. I requested a MODIFICATION to stop any further action considering my chapter XXXX case will be paid in full in 4 months.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-29
Newnan, GA
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: Closing Date : XX/XX/XXXX Loan Amount : {$290000.00} Summary of actions taken : In XXXX of XXXX, I sought affordable financing options for my property through mortgage refinance with originator XXXX XXXX XXXX. Please note the following changes as it pertains to XXXX XXXX XXXX : On XX/XX/XXXX Ocwen acquired and became successor in interest to XXXX XXXX, the successor of Mortgage originator XXXX XXXX XXXX. As a result of this acquisition Ocwen Financial Corporation is a successor Corporation and is liable for the illegal practices alleged in this complaint.
My application for mortgage refinance was approved under the advertising and representation of what was understood as a typical Adjustable Rate Mortgage ( ARM ) product. This emphasis of an ARM was conveyed through a summary document presented.
During the loan closing procedure, details were revealed that the ARM product being offered contains features that would base the interest rate on the London Market Interbank Offered Rates ( LIBOR ) with the primary focus placed on this particular disclosure in addition to a XXXX, fixed rate, Interest Only period with pre-payment penalties up to XXXX years after origination. These product features were not discussed nor mentioned prior to the actual closing appointment.
With the understanding of key terms as presented by representatives at closing, I concurrently performed a best case review attempt of ALL documentation prior to placing signatures on any items considering the expeditious fashion in which the closing was conducted and the wealth of information contained in the loan package.
Beyond the XXXX, fixed rate, Interest Only period and in the years following the start of the current amortization period, I became extremely concerned that although a tremendous downturn was experienced in the LIBOR index due to mortgage market adversity, the interest rate on the ARM was never adjusted to reflect those changes in any way when this should have been the case based on market performance as indicated in various rates tables. The Product disclosure document specifically states that the interest rate will be based on the aforementioned index. A copy of the Adjustable Rate Mortgage Loan Disclosure is attached.
I was able to contend through careful and independent examination of loan documents, specifically the ARM product disclosure, that deceptive practices were evident by the mortgage lender providing misleading information and through inadequate disclosure of the actual loan terms and conditions as well as leveraging contradictory language contained in several loan documents. Due to the complex nature of the misleading documents presented and the length of time transpired which the LIBOR index data was made clear, the harm resulting from these deceptive practices of the mortgage company was fully recognized by me in recents year.
I further concluded that the Mortgage company violated FTC section 5 by leveraging the persistent use of misleading loan documents through inaccurate titles or labels for most notably the Adjustable Rate Mortgage Loan Disclosure, Adjustable Rate Rider, and the Addendum to the Adjustable Rate Note, each of the aforementioned documents in Title specifically referenced the 5 year, Interest only period, yet there were elements that referred to the amoritization period which is clearly deceptive.
To resolve this I sought redress through a personal lawsuit filed in Federal Court charging the mortgage company with FTC Act section 5 violation but the case was dismissed due to no private right of action. As the government agency that is equipped with enforcement to address such violations I am submitting this complaint to the CFPB to investigate further.
Company Response: Closed with explanation
2019-09-29
Chandler Hts, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-29
Bohemia, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have a scheduled sale date on my home for XX/XX/2019. I was under impression that I was getting help from Ocwen Loan Servicing, and then I received a transfer notice from Ocwen that I was being transferred as XX/XX/XXXX, XXXX before the transfer Ocwen had already given me the amount of {$2400.00} as my payments. I was waiting for the actual trial agreement to send the payments.
I have been waiting to hear from Ocwen, then the transfer took place and now I have a sale date of XX/XX/XXXX, XXXX never received an correspondence from PHH.
I received nothing from PHH continuing where Ocwen left off. The only information I received was Mortgage Account Record, FDCPA Validation of Debt.
I never received the welcome letter offering to help me save my home in any way.
I did not receive the Sale Date information, I found out from a company offering to stop the foreclosure sale for me.
The transfer took place XX/XX/2019 and every time I called concerning my account they told me the loan was not in the system yet. That was XX/XX/2019. I was not given any information of options to save my home.
I feel that I have been treated very unfairly and did in fact experience discrimination in this situation.
Company Response: Closed with explanation
2019-09-27
Las Vegas, NV
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-27
Ridley Park, PA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Starting before XX/XX/XXXX, we have been paying our mortgage using our bank 's billpay option. We pay half on the first and then the second half when it is due on the XXXX. We overpay our mortgage by {$100.00} each month and pay biweekly to cut down on the accrued interest. In the fall of XXXX, we were notified that our first payment of the month was put in a suspense account and would only be applied when the full amount was received. I called and spoke with the company and explained our payment process and at no time during that call ( or subsequent communication ) was I informed that this was a problem.
We continued to make our monthly payments ( and overpaying by {$100.00} each month ) and have never been late.
In XXXX of XXXX, we attempted to get a loan and the bank alerted us to 4 " late '' payments on the Ocwen account in XXXX. It is concerning because we have paid on time, every time and have overpaid. We had an established method of payment for 6 months prior to being marked late and nothing changed on our end.
We have called 10 plus times this month and discussed with Ocwen representatives, who at first said they would not change their reporting to the credit bureau because they would incur a fine. After we faxed documentation supporting our claim ( mortgage statements and bank withdrawals ) they agreed and were recommending our account to be corrected to show our payments were made in full and on time. To date, they have not honored this recommendation.
Company Response: Closed with explanation
2019-09-27
NJ
Trouble during payment process
Mortgage: VA mortgage
Complaint: I have had an account with OCWEN since XXXX of XXXX, and paid it off in XXXX of XXXX. I am currently filling out past tax returns and tried to log onto website as I normally do, I could not log on.
I called and was told that since I had paid it off, the account was closed and there is no information. I gave customer service my loan number, name, social security number and they still could not find any information. I tried to submit a request on their website, but could not as it said my account does not exist.
I tried to reason with the customer service rep, I told them I will need the information for my XXXX taxes, etc ...
I have had mortgages in the past and am still able to log onto those companies and look up tax information.
Not being able to access my tax information is not acceptable to me and I am pretty sure that the IRS will not take my explanation that my information somehow disappeared.
OCWEN Loan Account # XXXX XXXX XXXX XXXX XXXX.
XXXX, Pa XXXX Sold XX/XX/XXXX Any help or information would be greatly appreciated.
V/r XXXX XXXX
Company Response: Closed with explanation
2019-09-27
Tubac, AZ
Trouble during payment process
Mortgage: VA mortgage
Complaint: On XX/XX/19 I mailed a dispute to OCWEN Loan Servicing LLC XXXX. XXXX XXXX XXXX, Tx XXXX it was " Return To Sender Attempted Not Know Unable to Forward '' See attached envelope and proof of mailing USPS receipt dated XX/XX/19 at XXXX XXXX
Company Response: Closed with explanation
2019-09-26
Marietta, GA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-26
FL
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I make extra principal payments on a monthly basis. Last month PHH Mortgage took an extra {$13.00} out of the extra principle to pay for the recording fee 's for an assignment of mortgage that was recorded in the clerk of courts the month prior XX/XX/2019.
They should be absorbing this cost not I as they received the loan from Ocwen XX/XX/2019.
Also note that according to the clerk of court in XXXX County Florida the legal description in the assignment of mortgage is also incorrect. I have called 3 times and I still have no answers.
They also caused my homeowners insurance to be cancelled and then reinstated.
Because the insurance company never received noticed they were now servicing the loan. That occurred in XX/XX/2019
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-26
Maynard, MA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XX/XX/2019, my loan was sold to PHH. I had already paid my XX/XX/XXXX payment to the original owner of the loan on XX/XX/XXXX.
This occurred as I was in the process of refinancing my loan to take advantage of the lower rates.
PHH improperly applied the XX/XX/XXXX payment to escrow on XX/XX/XXXX, making my principal balance higher than it should have been. I discovered this issue on XX/XX/XXXX, as I was working with the loan officer for the refinance.
I called and spoke with supervisor at the time and was told they would put in a request to have it fixed in 7-10 business days, but that they would attempt to escalate it.
After not hearing anything, I called back on XX/XX/XXXX at XXXX, and was informed that no request had been submitted on my account. I was then transferred to the escalation department to work with a representative there named XXXX.
I let her know that I work a job that doesn't allow me to carry my phone on my between 9 and 5, so communication would need to be after hours or via email. XXXX promised to send me an email with contact details that day, so I could call directly and she could send me updates during the work day.
After not receiving any communication on the XX/XX/XXXX, I called back the esclation department the XX/XX/XXXX at XXXX, and after an hour on hold and learned that XXXX had not submitted the request or sent an email.
After still not receiving any communication I called back on the XX/XX/XXXX at XXXX, and spoke with another representative that was unable to connect me to XXXX. It took 45 minutes on hold to reach anyone in the escalation department. I received a templated email with no account details at XXXX on the XX/XX/XXXX. I sent an email requesting information, of which I have yet to receive a response to upon writing this complaint on the XX/XX/XXXX.
On the XX/XX/XXXX at XXXX, I called the escalation department again. The request had been submitted and should have been resolved on the XX/XX/XXXX.
On the XX/XX/XXXX, I called at XXXX. The escalation department line sent me into a hold, and after an hour of waiting, I called the main line at XXXX. That line mentioned the office was closed and hung up after the message.
On today 's date, the XX/XX/XXXX at XXXX, I checked online again to see if my principal had been updated. For the first time, the system said that I had not made any payments, and that my account details would be available after I made my first payment.
I called the escalation department at XXXX, and spent another 30 minutes on hold waiting to speak to someone. I was told the request had not yet been approved, but that XXXX would email me when it had been approved, and let me know I was okay to request a payoff statement. I expressed my frustration with the lack of communication, and asked to speak with a supervisor. I was told that all supervisors were in meetings and could not be reached.
I called back again at XXXX, today, on XX/XX/XXXX, and spent 2 hours on hold, with my call dropping twice, once after 30 minutes, another after 25 minutes, while trying to reach the escalation department. Once I finally had someone on the phone, they told me the process had been approved, but that I would need to call back on the morning at XXXX XXXX to confirm that changes had properly gone through.
I feel like the lack of communication and transparency about my account, the long wait times, the inaccessibility to login to the website unless you are on XXXX XXXX or using a XXXX XXXX browser, and the lack of customer service, is deliberately in place to discourage people from being able to easily access information on their accounts. Unless you are as determined as I have been, calling 1-2x a day, spending 30 minutes - 2 hours on hold, you may not see any action to resolve your account issues.
In their responses to customers on other sites, in particular the XXXX XXXX XXXX, they have indicated that their escalation department would be reaching out, but given my experience, and the lack of communication provided in my situation, this is likely to be a blatant falsehood.
At this point, my refinance closing will be after the 1st of XX/XX/XXXX, meaning my mortgage will be {$350.00} higher than it should have if ( 1 ) the XX/XX/XXXX payment had been applied correctly ( 2 ) If my original request on XX/XX/XXXX had been processed in a timely manner.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-26
Garrett Park, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-26
Trumbull, CT
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-26
Lynn, MA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My husband and I have filed chapter XXXX. We have had so much trouble with mortgage payment. First my attorney was unclear about our payment. Then this past XX/XX/XXXX the mortgage company changed and our payment went from XXXX to XXXX. Also are payments were not shown as paid and instead went into unapplied funds. So every month it was shown as past due amount. Can this be fixed?
Company Response: Closed with explanation
2019-09-25
MI
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: PHH mortgage company XXXX This mortgage company obtained our loan from another loan servicing company. We have never received any statements, any information Whatsoever from this company. They had our mailing address wrong and no phone number in the system. They refuse to work with me to develop a repayment plan on back mortgage, even when offering to make two payments right away upfront.
This company has posted my home as a foreclosure sale without a 30 day notice. They are refusing to work with me on a loan modification and or replacement plan.
Company Response: Closed with explanation
2019-09-25
Philadelphia, PA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-25
Brooklyn Center, MN
Trouble during payment process
Mortgage: FHA mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-25
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-09-25
Warrenton, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-09-25
River Forest, IL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: At the end of XX/XX/2019, I received a call from PHH Mortgage Services that I was in arrear in my mortgage. I told them that this could not be the case since my account has automatic payments being made and a payment had been made. The PHH individual indicated to me that they saw the payments and since there was money in my account that I shouldn't worry because the monies would be applied to my mortgage. That was not good enough for me. I asked to speak to an escalation officer.
When I spoke to the escalation officer he told me that they were reviewing my account because there was a first and second on the account but that everything would be resolved shortly.
PHH Mortgage had been acquired by Ocwen Mortgage. Originally my loan was with Ocwen bu they transferred it to PHH to service it.
Subsequently I started receiving default letters for non payment and then recently I received a letter stating that they would stop accepting my automatic payments because of the status of my account.
Last week I tried to reach out my point of contact, XXXX XXXX ( XXXX ext XXXX ) and was told she wasn't available but I spoke to another representative about my situation and she wrote up a ticket for Ms. XXXX to follow up regarding my payments, credit reporting, and to provide me with a detailed accounting of my payments. When I called this week ( yesterday, XX/XX/2019 ) to speak with Ms. XXXX, she was again not available and when I asked about my ticket, I was informed that Ms. XXXX had closed out the ticket.
I was livid and asked to speak to another escalation officer. This time I spoke to XXXX XXXX ( XXXX ) XXXX and told her my frustrations with PHH. She told me she would immediately have the billing department apply my payments, correct any credit reporting, put me back on the automatic payment plan, and provide me with a detailed accounting of how my payments were applied. As of today, the payments have not been applied to my mortgage.
I am filing this complaint to help me resolve the situation regarding the payments on my mortgage with PHH Mortgage Services.
Thank you P.S. I have direct payments made from my bank and I should be current through XXXX or XXXX since I have made advance payments.
The bank statements show all of my payments being put into suspense accounts.
Company Response: Closed with explanation