OCWEN FINANCIAL CORPORATION

2016-09-22

PA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: Received a home modification with Ocwen in 2014 after many rip off schemes by them! Was supposed be XXXX! Taxes and insurance. Since then my mortgage has gone up to XXXX. I can understand the first year it going up but since then my taxes and insurance has only gone up XXXX. Second yr went up to XXXX. Nowlast 2 years saying insurance in XXXX when it clearly states XXXX. So if only my tascholl taxes went up XXXX which is once a year.y am I paying them XXXX more every year. Last 2 years only increase was taxes now wants raise mortgage to XXXX. Y from XXXX when only thing up is tax by XXXX so y do they want XXXX more a month. Trying day insurance going up to XXXX which also stated was last year and they pd out XXXX. So where 's all this extra money going that 's XXXX over last yr from there escrow reason for raisin. They are ripping me off agin. Years ago charged me XXXX said pd my insurance have me insurance I did not need and we had insurance still waiting for that refund filed with XXXX and XXXX never heard or got check promised as others also waiting. Tried numerous times call escrow Dept wo n't return calls. This is a giant rip off company. I need this settled by them ASAP. It 's crazy liers not only XXXX there doing this to. please help
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-22

Norcross, GA

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-22

Thompsons Station, TN

Disclosure verification of debt

Debt collection: Other (i.e. phone, health club, etc.)

Not given enough info to verify debt
Complaint: About XXXX XXXX, XXXX XXXX XXXX started trying to collect a deficiency amount on a mortgage that had been improperly foreclosed by GMAC in XXXX XXXX. GMAC has since admitted violating the required procedures for foreclosure and I was compensated by 2 different federal settlements from the mortgage lawsuits. GMAC shows my balance as {$0.00}. No Deficiency judgement was ever sought or obtained for this amount by GMAC or XXXX XXXX and Tennessee has a 2-year statute of limitations for such filings under Tenn Code XXXX XXXX. XXXX XXXX is aware of this law but has continued to report this to XXXX and XXXX as an unpaid collection. I have disputed this with both bureaus and XXXX has remove it but not XXXX. This has hindered my ability to obtain a mortgage using my VA loan. XXXX XXXX is unresponsive about this. This is an unfair collection attempt by a 3rd party for a balance that the original lender agreed to remove under the federal settlement.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-22

Memphis, TN

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage company Ocwen Servicing sent me correspondence stating my Homeowner coverage was insufficient for the mortgage on my home. My dwelling coverage is {$88000.00} with XXXX XXXX XXXX. My mortgage loan balance is {$86000.00}, my coverage is insufficient per Ocwen. Ocwen paid a portion of the homeowner annual premium on my home and not the annual premium of {$1100.00}. Please Please address this problem with Ocwen I do not want my policy to cancel. See attachment Ocwen has been is a awful mortgage company and they do not try to assist their clients.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-22

MD

Improper contact or sharing of info

Debt collection: Mortgage

Talked to a third party about my debt
Complaint: Document fraud from indecomme, under the control debt collector XXXX ( XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX, XXXX, XXXX XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX, XXXX, XXXX, XXXX, XXXX XXXX, OCWEN LOAN SERVICING, XXXX under the control & ocwen ARE indicative of similar behavior of XXXX.assignment as evidence of debt collector XXXX, ocwen FALSE ascribe statements haresign, XXXX and representations, assignment fraud, misrepresentations.communication tactics assignments as evidence of fraud.MORTGAGE ASSIGNMENTS AS EVIDENCE OF FRAUD XXXXThis article was originally published in XXXX XXXX 's previous publication, XXXX XXXX, ' and is republished here as a resource for those interested in foreclosures and document fraud. XXXX XXXX, XXXXIn the past ten years, hundreds of thousands of residential mortgages were bundled together ( often in groups of about XXXX mortgages ), and investors were offered the opportunity to buy shares of each bundle. This process is called securitization. Each such bundle of residential mortgages was given a name, such as " XXXX XXXX XXXX XXXX XXXX XXXX. '' The name indicates information about the particular trust such as the year it was created ( XX/XX/XXXX ) and its contents ( with OPT indicating that the loans in that particular trust were originally made by Option One Mortgage ) .Each such bundle/trust has a Cut Off Date identified in the trust documents ( specifically, in the Pooling and Servicing Agreement ). The Cut Off Date is the date on which all mortgage loans in the trust must be identified. In short, a final list of all of the mortgages in the bundle is set out. Each trust also has a Closing Date which is the date that the individual mortgages are transferred to the Trust Custodian, who must certify that for each mortgage, the custodian has a mortgage note endorsed in blank and proof that the ownership of the note has been transferred. This proof is most often an Assignment of Mortgage. Most trusts included the following or equivalent language regarding the Assignments : " Assignments of the Mortgage Loans to the Trustee ( or its nominee ) will not be recorded in any jurisdiction, but will be delivered to the Trustee in recordable form, so that they can be recorded in the event recordation is necessary in connection with the servicing of a Mortgage Loan. " Title insurance companies issued policies guaranteeing that the trust had clear title to the mortgages.When widespread defaults occurred, Trustees discovered that the laws regarding Mortgage Assignments varied significantly from state to state. Many issues regarding such Assignments were simply unresolved. One of the most significant issues was whether Mortgage Assignments could be back-dated or have retroactive effective dates. This issue arose because Trustees and their lawyers discovered in the foreclosure process that the Assignments could not actually be located, or that certain states did not allow blank Assignments.To solve the problem of the missing Assignments, new Assignments were made and recorded. Because the question of retroactive Assignments had not been resolved, most of these Assignments did not set forth the actual date that the Assignment took place. The Assignments were signed and notarized as if the transfer took place many years after the actual transfer date.The Assignments were prepared by specially selected law firms and companies that specialized in providing " mortgage default services '' to banks and mortgage companies. In jurisdictions with a high rate of mortgage defaults, over XXXX % of the filed Mortgage Assignments in the last three years were prepared and filed by the same XXXX or XXXX law firms.ATG
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-22

Tarzana, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am writing to you to complain about the accounting and servicing of this mortgage and my need for understanding and clarification of various sale, transfer, funding source, legal and beneficial ownership, charges, credits, debits, transactions, reversals, actions, payments, analyses and records related to the servicing of this account from its origination to the present date.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-22

Wann, OK

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-22

Marlboro, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Half Moon Bay, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Coatesville, PA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-09-21

Seattle, WA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: Got behind in our payments, Owcen offered to do a loan modification under HAMP, but would not disclose the terms until we signed the paperwork. We did not actual fill out an application, only the form that says we are not trying to defraud the government. Received the loan modification papers today, and they did lower payment from XXXX to XXXX and also lowered rate from 8.5 to 5.0 on our {$120000.00} mortgage ( our home is worth about {$300000.00} ). They included a BALLOON payment at the 214 months end of the loan term for {$90000.00} which means we are really refinancing {$120000.00} + {$90000.00}.. This seems outrageous and should be illegal if it is not, especially using GOVERNMENT FUNDS to finance this loan. Please investigate!!!!.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Quartzsite, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: On XX/XX/2016 I sent in my monthly mortgage payment to Ocwen for the month of XX/XX/2016. ( check # XXXX ). I am always a month ahead in payments. ( see attached ) Ocwen cashed that check on XX/XX/2016. I was expecting to receive my next payment coupon from them for XX/XX/2016 but by XX/XX/2016 I had not received it, so I sent Ocwen a email asking why I had not gotten it yet and on XX/XX/2016 I received a email from them that stated ( see attached ) a mortgage account statement is sent either when a payment is received or when a payment is not received by the end of the grace period, whichever is earlier. But as I just stated they DID RECEIVE my payment for the month of XX/XX/2016 ( see attached ) but have failed to send me XX/XX/2016 payment and here it is XX/XX/2016. I decided to give them the benefit of the doubt and and wait to see if they would send me my next payment. On XX/XX/2016 I still have n't received a payment coupon for XX/XX/2016 payment so I sent them another email stating that I am still waiting for it. I have not signed up for paperless billing and I never will. Ocwen suggested in their email to me that I just send in the payment without the payment coupon. I will probably have to end up doing this because of their negligence. I am scared to think of what problems lie ahead because of not having that payment coupon. This is not the first time Ocwen has failed to send a payment for the following month mortgage.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

PA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: I request a finance quote on the around XX/XX/XXXX, and they gave me one quote on XX/XX/XXXX, that quote as expired, and I needed another one to be send in, and they told me, the system is down and do n't know when it will be up, and running. I told them I needed it by tomorrow, and they keep telling me they do n't know when, the system will be up and running, it can be any time. But if I do n't get it by Friday. It is going to cost me money I do n't have, and a lots of grief, I do n't want.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Cartersville, SC

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I am XXXX XXXX XXXX ; I have a home mortgage loan with Ocwen Financial Servicing LLc. I am wishing to file a complaint against this company concerning questionable mortgage practices such as irrational fees applied to my account to keep me in late on my payments : Suspense payments fee BPO fees Property valuation fees Property Inspection fees Prior Servicers fees Late fees Late escrow fees I have carefully comb through my statements, receipts, and contract trying to find a logical reason for all these fees and nothing, then again, even the company reason is questionable to me. Additionally, Ocwen Financial has misinformed me about many of my rights as a customer. Countless years my mortgage payments has been placed in an escrow account that I HAVE NEVER HAD ACCESS TO. My statements show surges in my monthly payments, surges in escrow payments and unapplied funds. Because of these surges, I made yet another call to Ocwen. According to the many conversation, I have had with Ocwen Financial Servicing LLc, Customer Care Center. The company explains that they had to pay my home insurance out of my escrow account therefore, making the escrow account short. Triggering a reduction in my house payment consequently transferring it to unapplied funds until a whole payment. This is how Ocwen has round up thousands of dollars in IRRATIONAL FEES. The requirements to withdraw from the escrow account is to have your house payments, house insurance, plus home taxes all current at the time you ask to be discharge from the escrow account. XX/XX/2016, I made three-house payments totaling nearly {$2000.00} more than I owed just to be on the safe side. I called Ocwen Financial Servicing LLc, Customer Care Center requesting to be removed from the escrow account. Ocwen Customer Care Center explains they need to research my escrow requirements then contact me later. XX/XX/XXXX Ocwen Financial Servicing LLc, Customer Care Center sent me a letter stating my escrow waiver request was denied coupled with the statement the escrow is still required on your loan Furthermore, let me be clear I believe my issues concerns fraudulent practices committed by Ocwen in connection with its home mortgage loans. I believe the company was and still is being malice, misrepresentative and manipulative towards it customers. In my research, this is what I came to realize. Ocwen Financial Servicing LLc, goal is to keep the homeowner late or in default. Combined, monthly payments coupled with the revenue generated from fee inflation each month times millions of customers is goal mine. 1.Make up fees for homeowner example ( BPO, Other fees, Inspection ECT.. ) 2.Homeowner Payment {$640.00} 3.Keep the homeowner late every month in order by collect fees 4.Inspection fee ... ... ... ... ... ... ... ... .. {$27.00} 5.Escrow short ... ... ... ... ... ... ... ... ... ... {$43.00} 6.Other fees ... ... ... ... ... ... ... ... ... ... ... {$10.00} 7.July 2016 Ocwen XXXX XXXX you owe for two months and late fees Shock I 'm behind???? ?? 8.June payment what 's left of it is sitting in Unapplied funds collecting interest {$560.00} What has to be the most disturbing is The Deed of trust, which allows Ocwen Financial Servicing LLc to run a scheme in the event the obligator fails to meet their commitments. Which goes back to the point I made above reference to exorbitant amount of fee being generate by way of deceptive practices. Finally, Ocwen Financial Servicing LLc has me last on all my bills, I ca n't keep this up much longer I 'm asking for any help legal your agency can provide. I have tried searching for legal help however, the fees or too high or case to small. I would like an investigation into Ocwen Financial Servicing LLc if possible, I would like the fees stopped, to have my fixed payments to remain the same as in contract and close the escrow account.
Company Response: Closed

Disputed: No Timely Response

2016-09-21

Pacific City, OR

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Cedar Hill, TX

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Indianapolis, IN

Other

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Watkins, CO

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: 3 years ago ... we received a Shared Modification from Ocwen ... They are the epitome of a THIEF. Thy request invoices and documents of what was updated in our home. We submitted them and they have the nerve too say we can not confirm. ARE THEY A BUNCH OF XXXX OR WHAT. We fixed and updated our bathroom utilizing XXXX XXXX to complete the job. W also used a glass company to replace the Shower door. sent in those invoices. They are fools and idiots and I am tired of going back and forth. WHY ARE YOU PEOPLE NOT DOING SOMETHING ABOUT THIS COMPANY. I have had it with them trying to rip us off. Now the invoice for the shower is {$4200.00} and the invoice for the shower door is {$1300.00}. Where they got the invoice where they saw {$780.00} is beyond me. They are bunch of XXXX people. Also submitted invoice where new roof was done, gutters replaced and siding and new windows. NOW YOU HAD BETTER TAKE CARE OF THIS AS WE ARE FED UP.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Moapa, NV

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: In XXXX we modified our loan and we were put in a " Shared Appreciation '' Agreement as attached. We understood at the time that what this meant was that they were " forgiving '' a portion of the " Principal Balance '' at the time and that the " New Principal Balance '' during the trial period ( which was only through XXXX/XXXX/XXXX ). We then understood that the modification became permanent and that out of the " New Principal Balance '' of {$280000.00}, {$170000.00} would be forgiven over 3 years commencing in XXXX. The agreement states that the portion of the New Principal Balance that is not deferred, shall bear interest " The Interest Bearing Principal Balance. '' That was {$110000.00} at the rate of 2 % interest and began accruing on XXXX/XXXX/XXXX. We want to sell our home and we called Ocwen today and spoke to two gentlemen, one who cut us off and another who stated " although we forgave the " Deferred Principal Balance '' of {$170000.00}, if you sell the house you would be responsible to pay 25 % equity ( if any ) up and above the " New Principal Balance '' ( described above ) which was {$280000.00}. We argued that this is not what the agreement said but rather it said it was based on the {$280000.00} instead of the {$110000.00}! We argued some more and he then said actually it is the total you refinance the home for in XXXX which was {$390000.00}! We then said you did not forgive anything! We can never sell our house then and it will never, ever be worth {$390000.00} and it will likely be years before it is worth {$280000.00} as it stands right now ; it is worth at the most about {$220000.00}! We believe that if they said that {$170000.00} was forgiven ; it really was n't and especially if they are saying that they go back to the original loan amount of {$390000.00}! Please see the attached agreement which again states that " Maturity Date The Shared Appreciation amount, if any, at the Maturity Date shall be 25 % of the difference between the Valuation of the Property as of such date and {$110000.00} ( the Interest Bearing Principal Balance '' as of the Modification Effective Date ( emphasis added ) less any credit determined by Servicer for Subsequent Capital Improvements and any amount of appreciation in excess of Deferred Principal Balance. '' When we pulled these documents up on their website today, they had the wrong Modification Agreement attached with Notary Signatures also. Questions : Was {$170000.00} really forgiven? It does n't sound like it to me. Why would we be told this reverts back to the original loan of {$390000.00}? This is absolutely no where on the Agreement. We kept asking about reduction for " Capital Improvements '' and they did not firmly state that applies! Thanks XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Blackwood, NJ

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Boulder Hill, IL

Disclosure verification of debt

Debt collection: Mortgage

Not given enough info to verify debt
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

South Gate, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Guntersville, AL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I received and accepted an offer on a condominium in XXXX XXXX XXXXXXXX on or about XXXX XXXX, 2016. The closing was scheduled for XXXX XXXX, 2016. I was asked on XXXX XXXX, 2016 to give the closing agent a two week extension, which I granted. XXXX XXXX, I was asked for another 2 week extension, as the closing agent had been unable to acquire the Assignment document and number from the mortgage servicer, OCWEN Loan Servicing , LLC of XXXX XXXX XXXX, XXXX XXXX XXXX, FL XXXX. My account number with OCWEN is XXXX. I spoke with the closing agent yesterday and was informed that OCWEN had asked for another 48 hour extension to provide the information. My buyer is about to withdraw the offer due to the delays. Can you help me in obtaining the required documents.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Garrett Park, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My property is a association maintained property which means they do all the maintenance such as cutting the grass and trimming of tress on a timely manner. This happens even when a property is for sale ( such as mine ). As confirmed by en email from the property XXXX there has been cases where a bank sends a company to cut the grass and trim the trees not realizing the property is a association maintained and the company charges the bank even though they dont do any thing ( my case ) I am demanding for Ocwen to refund me {$210.00} that they have charged me ( it is not my problem that the company XXXX is a dishonest company and charged them for the work never done ) .To cover themselves they even took some before and after pictures which is in black and white and you cant see any thing from them. That is not my issue and i need my refund as i paid a fee of {$97.00} a month to association for them to this work which has been done since i bought the property. i will hire an attorney to take legal action if they are not refunding my money now.i have send the email from the association manager with all above information to XXXX office of the consumer ombudsman as well.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-20

Las Vegas, NV

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have several problems to report with Ocwen Loan Servicing : I was laid off XX/XX/XXXX. I got in touch with Ocwen and applied for Mortgage assistance. After reviewing my application, Ocwen recommended a Trial modification forbearance plan, whereby my mortgage payments would be reduced to {$600.00}, due on the XXXX of the month, beginning XX/XX/XXXX and ending on XX/XX/XXXX. I made all payments on time as agreed to by Ocwen and myself. This program was recommended and sanctioned by Ocwen, yet they reported these payments as being late to XXXX, XXXX, XXXX, and XXXX credit agencies. Rather than offering a helpful solution, Ocwen has done long term damage to my credit rating. I am still working with credit agencies and Ocwen to resolve this dispute. I have not been able to find work in my field so I reapplied for a Loan Modification through Ocwen on XX/XX/XXXX. I meet the following eligibility requirements for HAMP loan modification : XXXX lien -Loan originated before XX/XX/XXXX -Primary residence -Property is XXXX unit and principal is below {$720000.00} -No previous HAMP modification -Payments exceed XXXX % of monthly income -The only criterion I do not meet is that the loan is not delinquent, however, considering my situation loan default is reasonably foreseeable. Ocwen called me on Friday, XX/XX/XXXX to tell me my application for assistance was denied. When I asked why I was denied, the caller said, " because the account is n't delinquent. '' I asked for more information or alternatives and was offered none. I have not received detailed information on why my application was denied.
Company Response: Closed with explanation

Disputed: No Timely Response