OCWEN FINANCIAL CORPORATION

2018-07-27

Houston, TX

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

East Freehold, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My issue is with Ocwen Loan Servicing LLC. I was approved for a modification and followed all of the guidelines and made my payments and then they failed to send the permanent modification paperwork. I followed up with them repeatedly to try and fix this problem but I fell between the cracks. I still tried to pay them but they refused to accept the modification payment and told me instead I needed to pay back all missed payments. I have spent over one year going back and forth trying to fix this problem with no success. I am now facing a foreclosure sale date on XX/XX/XXXX. it never should have come to this, I have a very good job and can document strong finances that would allow me to be able to afford a payment for a modification plan. The fact that I was approved for a plan, and then due to incompetence Ocwen did not follow through is leading to me losing my home. This is not right or fair. When I call in to try and find out what is going on with my case and my file I get transferred from department to department and no one can give me any answers. Then I receive letters twice a week from Ocwen telling me they can help and encouraging me to apply for assistance. Of course when I do apply, I go into limbo. A few years after purchasing my home I needed to do some repairs so I refinanced in XXXX. I was not aware until I got to the signing table that I had been the victim of a bait and switch and that I had entered into a predatory and toxic adjustable rate loan. My payment began going up, and both of my parents were very ill and I had to help to care for them and take a lot of time off of work in XXXX. During this time frame I was diagnosed with XXXX which made things even worse. Not long after my parents passed and I had to help manage and settle their affairs and cover costs. To make matters even worse, I lost my job in XX/XX/XXXX due to the recession. As soon as I began defaulting on the loan I attempted to work with the bank but found it difficult to navigate, so I hired an Attorney. Working with him there was no progress so I ended up hiring the Attorney who was helping us with my parent 's estate. In XXXX we were finally able to negotiate a modification, and I began making the monthly payments as agreed, even though they were more than 50 % of my monthly income. As it became apparent that this situation was not sustainable my Attorney reached out to Ocwen to question the terms of the modification. Ocwen 's agents admitted that an error was made in the calculation of the terms of the modification, and agreed to open a NEW application for a more affordable modification based on the correct financial information. This review ended up dragging on for almost another year. Eventually, I was approved for another modification and began making the monthly payments. By this time my financial situation had improved as I had a great and stable job. I was very happy to have put this behind me and made the payments as agreed as I waited for the permanent modification papers. These never came, and I soon drifted into a black hole. Despite repeated attempts to contact Ocwen, I have yet to make any progress on this issue. I call in and get transferred from department to department and often end up speaking with customer representatives who speak very poor English and are difficult to understand. I request repeatedly to have a review initiated on my case but get nowhere. At the same time I receive multiple applications in the mail to apply for help, but after I complete the applications and send them in it is like they don't exist. Ocwen is a bad company and I have read that they were fined billions of dollars by the Department of Justice and the CFPB for unethical foreclosure practices. They are still engaging in these practices, please investigate this situation.
Company Response: Closed with explanation

Timely Response

2018-07-26

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

Hampton, VA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: I have submitted numerous complaints about ocwen and the ridiculous interest rate that I am paying. 12.4 percent is the amount i am paying. i am paying XXXX a month on time every month XXXX dollars go to my mortgage and XXXX goes to ocwen this is crazy. I have asked to have my interest rate to be reduced as I have been paying my mortgage on time. I am just giving my money away to this company each month. I do not understand how this is not considered illegal thru CFPB and why this is not being investigated. I do not understand what guidelines are given to these companies to charge such outrages rates.THIS NEEDS TO BE INVESTIGATED I WILL CONTINUE TO FILE A COMPLAINT UNTIL SOMETHING IS DONE. COMPANY IS NOT WILLING TO WORK WITH CONSUMERS
Company Response: Closed with explanation

Timely Response

2018-07-26

Hanover, MD

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

Deltona, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

Jupiter, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

Ludlow, MA

Applying for a mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-07-26

Scottsdale, AZ

Struggling to pay mortgage

Mortgage: Other type of mortgage

Complaint: have submitted a loan modification over and over at this point I don't think the package goes to underwriting the loan was originally a bad interest only loan Ocwen just keeps adding onto the interest only balance there is no justification to what happens once a package is sent to Ocwen its apparent that a review to assist me with this bad loan happens ; in a few days after receipt of the pkg. Ocwen denies
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-07-25

Incorrect information on your report

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Modesto, CA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Garden Grove, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: To save their home from foreclosure, our client applied and was approved for the HAMP modification on XX/XX/XXXX ( a copy of the modification is attached to this letter ). The client initiated the mandatory HAMP Temporary Payment Plan ( TPP ) on XX/XX/XXXX. The TPP payment was for the amount of {$2300.00}. During the next three months the client continued to make his mortgage payments despite the modification not being finalized. On XX/XX/XXXX, the client signed the completed loan modification, which confirmed a modified principal, interest, taxes and insurance payment of {$2300.00}. The first payment for the modification was due XX/XX/XXXX. On or about XX/XX/XXXX, the client called OLS to make his modified mortgage payment. The OLS representative advised him that his mortgage payment was {$2500.00}. The client then advised the representative that the modification contract that was just signed was set at {$2300.00}. The OLS representative advised the client that the increase in the mortgage payment was due to a shortage in his escrow account. I note here that per HAMP guidelines any escrow shortage should have been calculated into the loan modification calculations. The client objected at the mortgage payment and request that OLS correct this error. During this conversation, the OLS representative advised that the client could either accept the payment as set or his loan or he could chose to not make the payment and become delinquent. The representative refused to initiate a correction to the payments as was required. Feeling that he had no choice but to make the mortgage payment, the client made the mortgage payment as he was advised by OLS. The client continued to attempt to resolve this issue with OLS without success. On XX/XX/XXXX, the client received a billing statement from OLS which confirmed that his mortgage payment would increase from {$2500.00} to {$2700.00}. This increase was again due to the continued escrow shortage caused by the modification error of XX/XX/XXXX. As previously stated the client has attempted to resolve this issue with OLS on numerous occasions without success. As detailed in the Making Home Affordable Handbook Home Affordable ( HAMP ) for servicers section 9.3.7.2 Escrow Advances : Servicers should capitalize any escrow advance that has been or will be paid to a third party before the modification effective date. If capitalization is prohibited by applicable law, the servicer should direct the borrower to repay the advance in accordance with investor guidelines, the underlying security instrument and all applicable laws, rules and regulations. Servicers may not have the borrower execute a note for any escrow advance. Further, section 9.3.7.3 Escrow Shortages states that, in the event the initial escrow analysis identifies an escrow shortage a deficiency in the escrow deposits needed to pay all future tax and insurance payments the servicer must take steps to eliminate the shortage. Any existing escrow shortage currently being paid by the borrower should be included in the borrowers monthly mortgage payment. In closing, it is clear that OLS acted incompetently in the servicing of my clients loan. Further, once OLS became aware of the servicing issue, and acknowledged its error, OLS again failed to fulfill their legal obligation as the servicer of the clients loan to correct this issue.
Company Response: Closed with explanation

Timely Response

2018-07-25

Syracuse, NY

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Company Response: Closed with explanation

Timely Response

2018-07-25

Gilbert, AZ

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-07-25

Sandy Hook, CT

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Wake Forest, NC

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Syracuse, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-07-25

Corona, NY

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-07-25

Bremen, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My loan servicer is OCWEN ( OCW ). In XXXX OCW after became servicing my account ( ACCT ) OCW created a negative Escrow Balance ( EB ) without any justifiable reason. My Homeowner Insurance Policy ( HIP ) as well as my Property Taxes ( PT ) were paid by me as per my initial Loan Agreement ( LA ). From XXXX until about XXXX or XXXX I've maintained continuous HIP coverage provided by XXXX XXXX ( XXXX ). For no justifiable OCW regularly more than once charged me for " Forced Insurance Policy '' ( FIP ) at much higher rate. Because of OCWs FIP my Regular Monthly Payments ( RMP ) were routinely and illegally increased by OCW. My attempts to remove unnecessary FIP by calling OCW Customer Service Calling Center ( CSCC ) were not successful. In XX/XX/XXXX my house sustained severe damage by partial collapse of two foundation walls. At the time of the collapse my HIP was provided by XXXX. Repair Cost Estimate ( RCE ) about {$44000.00}. The RCE was made few days after the collapse at the time when majority of debris was still not removed yet. XXXX refused to cover my claim. For over a one year XXXX was communicating back and forth with my attorney denying to pay for the damage - law suit was filed in XXXX with Jury Trial ( JT ) demanded. JT was scheduled in XX/XX/XXXX. New up to date RCE was made in XX/XX/XXXX it came to be {$49000.00} without counting in cost of work done in XX/XX/XXXX-XX/XX/XXXX. My attorney without my permission settled the initial {$43000.00} claim for {$39000.00}. The attorney took {$14000.00} for his legal fees which left only {$24000.00} to apply towards {$49000.00} needed to finish the repair. I refused to accept {$39000.00} settlement ( STTL ) or any portion thereof because {$24000.00} was not enough to be used even for 50 % down payment to start the repair. Because the STTL proposal was done without my knowledge or approval as per 30 .A.L.R.2d 944, 945. and 7AmJur2d, 156, the attorney lacked authority to waive my right to JT or to settle for less than full amount .. O.C.G.A. 15-19-6 State Bar DR 7-102 ( A ) ( 9 ). Throughout years XX/XX/XXXX-XX/XX/XXXX OCW continued charging me excessive amounts for Escrow Reimbursement ( ER ) as well as other fees ( OF ). Because none of my calls to OCWs Customer Service Calling Centers ( CSCC ) yield resolution or explanation of ER charges or correction of OCWs errors. Ive decided to initiate communication with OCW Account Specialists ( OAS ) instead of wasting time calling CSCC. Throughout XX/XX/XXXX-XX/XX/XXXX Ive used OCW website to schedule phone calls with OAS XXXX XXXX ( XXXX ) and later with XXXX XXXX ( XXXX ) unfortunatelly neither of them was able to explain ER charges or tell me what has happened to funds OCW overcharged ( OVRCH ) me for FIP or ER. Initially I was told that OVRCH funds were applied to my Principle Balance ( PB ). Later after OCW provided me with my Account History Printout ( AHP ) I found that none of OVRCH funds ( about {$2800.00} ) were applied to my ACCT. In XX/XX/XXXX-XXXX XXXX I was told by XXXX that OCW issued and mailed me Refund Checks ( RC ). No RC came in XXXX. One RC arrived in XX/XX/XXXX. Because OCW blocked my online user password in XXXX I could not submit my RMP online, because of that Ive started to mail my RMP to OCW by USPS Registered or Certified Mail with Delivery Confirmation Receipt ( DCR ) requested. All of my RMP were accompanied with letter demanding OCW to provide me with correct billing as well as return of OVRCH unaccounted funds. OCW failed to apply my RMP to my ACCT since XX/XX/XXXX-XXXX XXXX forward. In XX/XX/XXXX Ive mailed a Certified DCR letter addressed directly to Mr. XXXX CEO of OCW demanding response with explanation of OCW refusal to apply my RMP. Ive also requested to be provided within 30 days correction of OCW accounting errors in accordance with Fair Debt Collections Practices Act ( FDCPA ) 15 USC 1692. OCW did not respond to my letter to this date XX/XX/XXXX. OCW instead scheduled Forclosure Sale ( FS ) of my residence for XX/XX/XXXX. OCW failed to provide me a 30 notice of FS as per O.C.G.A. 44-14-162.2 ( a ). The FS was brought to my attention by text Ive received from unknown individual on XX/XX/XXXX informing me that my house was listed for sale in XXXX XXXX XXXX which is XXXX County Newspaper. On XX/XX/XXXX Ive filed a law suit against OCW for Breach Of Contract ( BOC ) and wrongfull FS in US XXXX District Court of Georgia as a case XXXX. It is a matter of record that OCW in pursuance of FS violated number of Georgia as well as Federal Laws. OCW employees specifically committed felony/ies as per O.C.G.A. 16-10-20.1 by submitting Security Deed ( SD ) containing false information for recordation with Clerk of XXXX County Property Records ( CCCPR ) used later by OCW for initiation and execution of illegal FS. My loan servicer is OCWEN ( OCW ). In XXXX OCW after became servicing my account ( ACCT ) OCW created a negative Escrow Balance ( EB ) without any justifiable reason. My Homeowner Insurance Policy ( HIP ) as well as my Property Taxes ( PT ) were paid by me as per my initial Loan Agreement ( LA ). From XXXX until about XXXX or XXXX I've maintained continuous HIP coverage provided by XXXX XXXX ( XXXX ). For no justifiable OCW regularly more than once charged me for " Forced Insurance Policy '' ( FIP ) at much higher rate. Because of OCWs FIP my Regular Monthly Payments ( RMP ) were routinely and illegally increased by OCW. My attempts to remove unnecessary FIP by calling OCW Customer Service Calling Center ( CSCC ) were not successful. In XX/XX/XXXX my house sustained severe damage by partial collapse of two foundation walls. At the time of the collapse my HIP was provided by XXXX. Repair Cost Estimate ( RCE ) about {$44000.00}. The RCE was made few days after the collapse at the time when majority of debris was still not removed yet. XXXX refused to cover my claim. For over a one year XXXX was communicating back and forth with my attorney denying to pay for the damage - law suit was filed in XXXX with Jury Trial ( JT ) demanded. JT was scheduled in XX/XX/XXXX. New up to date RCE was made in XX/XX/XXXX it came to be {$49000.00} without counting in cost of work done in XX/XX/XXXX-XX/XX/XXXX. My attorney without my permission settled the initial {$43000.00} claim for {$39000.00}. The attorney took {$14000.00} for his legal fees which left only {$24000.00} to apply towards {$49000.00} needed to finish the repair. I refused to accept {$39000.00} settlement ( STTL ) or any portion thereof because {$24000.00} was not enough to be used even for 50 % down payment to start the repair. Because the STTL proposal was done without my knowledge or approval as per 30 .A.L.R.2d 944, 945. and 7AmJur2d, 156, the attorney lacked authority to waive my right to JT or to settle for less than full amount .. O.C.G.A. 15-19-6 State Bar DR 7-102 ( A ) ( 9 ). Throughout years XX/XX/XXXX-XX/XX/XXXX OCW continued charging me excessive amounts for Escrow Reimbursement ( ER ) as well as other fees ( OF ). Because none of my calls to OCWs Customer Service Calling Centers ( CSCC ) yield resolution or explanation of ER charges or correction of OCWs errors. Ive decided to initiate communication with OCW Account Specialists ( OAS ) instead of wasting time calling CSCC. Throughout XX/XX/XXXX-XX/XX/XXXX Ive used OCW website to schedule phone calls with OAS XXXX XXXX ( XXXX ) and later with XXXX XXXX ( XXXX ) unfortunatelly neither of them was able to explain ER charges or tell me what has happened to funds OCW overcharged ( OVRCH ) me for FIP or ER. Initially I was told that OVRCH funds were applied to my Principle Balance ( PB ). Later after OCW provided me with my Account History Printout ( AHP ) I found that none of OVRCH funds ( about {$2800.00} ) were applied to my ACCT. In XX/XX/XXXX-XX/XX/XXXX I was told by XXXX that OCW issued and mailed me Refund Checks ( RC ). No RC came in XXXX. One RC arrived in XX/XX/XXXX. Because OCW blocked my online user password in XXXX I could not submit my RMP online, because of that Ive started to mail my RMP to OCW by USPS Registered or Certified Mail with Delivery Confirmation Receipt ( DCR ) requested. All of my RMP were accompanied with letter demanding OCW to provide me with correct billing as well as return of OVRCH unaccounted funds. OCW failed to apply my RMP to my ACCT since XX/XX/XXXX-XX/XX/XXXX forward. In XX/XX/XXXX Ive mailed a Certified DCR letter addressed directly to Mr. XXXX CEO of OCW demanding response with explanation of OCW refusal to apply my RMP. Ive also requested to be provided within 30 days correction of OCW accounting errors in accordance with Fair Debt Collections Practices Act ( FDCPA ) 15 USC 1692. OCW did not respond to my letter to this date XX/XX/XXXX. OCW instead scheduled Forclosure Sale ( FS ) of my residence for XX/XX/XXXX. OCW failed to provide me a 30 notice of FS as per O.C.G.A. 44-14-162.2 ( a ). The FS was brought to my attention by text Ive received from unknown individual on XX/XX/XXXX informing me that my house was listed for sale in XXXX XXXX XXXX which is XXXX County Newspaper. On XX/XX/XXXX Ive filed a law suit against OCW for Breach Of Contract ( BOC ) and wrongfull FS in US XXXX XXXX XXXX of Georgia as a case XXXX. It is a matter of record that OCW in pursuance of FS violated number of Georgia as well as Federal Laws. OCW employees specifically committed felony/ies as per O.C.G.A. 16-10-20.1 by submitting Security Deed ( SD ) containing false information for recordation with Clerk of XXXX County Property Records ( CCCPR ) used later by OCW for initiation and execution of illegal FS.
Company Response: Closed with explanation

Timely Response

2018-07-25

Atlanta, GA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have tried to on several different occasions to try to get the lender to review my short sale offer. I had all documents to the lender within a weeks time. Which would have given them over 30 days to review the offer, and they came back and stated that they did not have enough time to review the file for short sale. That is ridiculous. I feel that the lender is pushing me into a foreclosure situation, they definitely are not giving me any other alternative to foreclosure. I am at my wits end and do not know what to do. I now understand why people contemplate doing harm to themselves, as this situation has caused me to become emotionally distant and in a constant state of apprehension. I need help with this ordeal, as I feel like I am falling down the rabbit hole. Please HELP!!!!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-07-24

Palos Park, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: We, XXXX XXXX XXXX and XXXX XXXX XXXX, signed a Mortgage and a Promissory Note with XXXX XXXX XXXX. The purported loan closing date was XX/XX/XXXX with a XXXX # of XXXX. APN/Parcel/PIN : XXXX. The Subservicer of the Loan was XXXX XXXX XXXX XXXX and the Master Servicer was XXXX XXXX XXXX, XXXX. The alleged Loan Originator was XXXX XXXX XXXX. It has come to our attention that the named Payee on our Note was neither a source nor a conduit for funds. The naming of a Payee who is not the source of funding prevents merger of the debt with the note, which can only occur when the Payee and creditor are the same. In most cases, the named Payee is different from the creditor ( s ) who funded the loan, intentionally or otherwise, and in our case, the recorded Mortgage names XXXX XXXX XXXX as the purported Lender who is different from the creditor who actually funded the loan - whoever that might be. The named Payee on the note and mortgage were never in privity with the actual funding source. Subsequently, on XX/XX/XXXX the Mortgage was purportedly assigned by Mortgage Electronic Registration Systems ( MERS ) to XXXX XXXX XXXX , XXXX XXXX, as Trustee for XXXX XXXX XXXX XXXX XXXX Mortgage Backed Certificates, Series XXXX, as nominee for Lender and Lenders successors and assigns, although XXXX XXXX XXXX had already gone bankrupt in XXXX. The mere presence of MERS is indicative of the flaws and defects that exist in the chain of title in regard to purported transfers of the Mortgage pertaining to our family home. The claims by MERS are false claims. MERS claims an agency relationship based upon a series of relationships. MERS has never pled or proven such relationship. There is no agency relationship. MERS has no members. MERS makes the False Claim that they are a Mortgagee. MERS has not shown any prima facie evidence or proven that the person who signed the Assignment of Mortgage for MERS was an Assistant Secretary of MERS. We have never been shown any prima facie evidence that the owner of our alleged debt is held by a member of MERS. We have never been shown that the records of MERS are accurate. In Illinois, a mortgage is considered real property. In order to have a valid and enforceable title to the mortgage contract there must be a complete WRITTEN chain of assignments from the lender to satisfy the Statute of Frauds. The initials XXXX XXXX for XXXX XXXX XXXX XXXX XXXX and their principal place of business is in the city/state of XXXX, which is the most unregulated financial District in the world. XXXX has been prosecuted by the Department of Justice for money laundering of billions of dollars of XXXX drug cartel money and has also been prosecuted for establishing illegal tax havens for wealthy individuals in attempts to avoid paying their fair share of federal income taxes. Evidently, our loan was purportedly securitized and that is consistent with the language in the first paragraph of the Promissory Note wherein it states that the Promissory Note was for the loan that I received. So, the Note that we signed pertained to loan documents ( contracts ) that had already been entered into by undisclosed 3rd parties that we have never been made aware of and that involved loan terms that have never been disclosed to us. Therefore, it is evident that our Note is only evidence of a loan and was not the actual loan. Despite our numerous requests, it has never been disclosed to us what the terms of this loan contract were/are, who the parties were/are, or who/are the actual Lenders. This was a table funded loan and in violation of the Truth in Lending Act ( TILA ) and Regulation Z and involved parties with whom we never had any privity of contract. The term TILA means the Truth in Lending Act, 15 U.S.C. Sections 1601-1666j, as amended. TILA, which took effect on XX/XX/XXXX, is intended to promote the informed use of consumer credit by requiring creditors to disclose credit terms and costs, requiring additional disclosures for loans secured by consumers homes and permitting consumers to rescind certain transactions that involve their principal dwelling. The term Regulation Z means the regulation that the FRB promulgated to implement TILA, 12 C.F.R. 226, as amended. The term also includes the FRB Official Staff Commentary on Regulation Z, 12 C.F.R. 226 Supp.1, as amended. In the course and conduct of offering and making mortgage loans, XXXX, in numerous instances, has violated and continues to violate, the requirements of TILA and Regulation Z in the following and other respects by : ( a ) failing to disclose, or accurately disclose : ( i ) the annual percentage rate, in violation of Section 129 ( a ) ( 2 ) of TILA, 15 U.S.C. section 1639 ( a ) ( 2 ), and Section 226.32 ( c ) ( 2 ) of Regulation Z, 12 C.F.R. Section 226.32 ( c ) ( 2 ) ; ( ii ) the regular payment amount, in violation of Section 129 ( a ) ( 2 ) of TILA, 15 U.S.C. Section 1639 ( a ) ( 2 ), and Section 226.32 ( c ) ( 2 ) of Regulation Z, 12 C.F.R. Section 226.32 ( c ) ( 3 ) ; ( iii ) failing to make the disclosures described above clearly and conspicuously in writing at least three business days prior to consummation of a mortgage loan transaction, in violation of Section 129 ( b ) ( 1 ) of TILA, 15 U.S.C. Section 1639 ( b ) ( 1 ) and Section 226.31 ( b ) and ( c ) ( 1 ) of Regulation Z, 12 C.F.R. Section 226.31 ( b ) and ( c ) ( 1 ). In the course and conduct of offering and making mortgage loans and/or extending other consumer credit, XXXX, in numerous instances, has violated, and continues to violate, the requirements of TILA and Regulation Z, in the following and other respects by : ( a ) failing to make TILA disclosures in writing before consummation of a consumer credit transaction, in violation of Sections 121 ( a ) and 128 ( b ) ( 1 ) of TILA, 15 U.S.C. Sections 1631 ( a ) and 1638 ( b ) ( 1 ) and Sections 226.17 ( a ) and ( b ) and Section 226.18 ( a ) of Regulation Z ; ( b ) failing to disclose, or accurately disclose, the following information : ( i ) the identity of the creditor making the disclosures, in violation of Section 128 ( a ) ( 1 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 1 ) and Section 226.18 ( a ) of Regulation Z, C.F.R. Section 226.18 ( a ) ; ( ii ) the amount financed, in violation of Section 128 ( a ) ( 2 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 2 ) and Section 226.18 ( b ) of Regulation Z, C.F.R. Section 2 26.18 ( b ) ; ( iii ) the finance charge, in violation of Sections 106 and 128 ( a ) ( 3 ) of TILA, 15 U.S.C. Sections 1605 and 1638 ( a ) ( 3 ) and Sections 226.4 and 226.18 ( d ) of Regulation Z, C.F.R. Sections 226.4 and 226.18 ( d ) ; ( iv ) the annual percentage rate, in violation of Sections 107 and 128 ( a ) ( 4 ) of TILA, 15 U.S.C. Sections 1606 and 1638 ( a ) ( 4 ) and Sections 226.18 ( e ) and 226.22 of Regulation Z, C.F.R. Sections 226.18 ( e ) and 226.22 ; ( v ) the payment schedule, in violation of Section 128 ( a ) ( 6 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 6 ) and Section 226.18 ( g ) of Regulation Z, C.F.R. Sections 226.18 ( g ) ; ( vi ) the total of payments, in violation of Section 128 ( a ) ( 5 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 5 ) and Section 226.18 ( h ) of Regulation Z, C.F.R. Section 226.18 ( h ) ; ( vii ) whether or not a penalty may be imposed if the obligation is prepaid in full, in violation of Section 128 ( a ) ( 11 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 11 ) and Section 226.18 ( k ) ( 1 ) of Regulation Z, C.F.R. Section 226.18 ( k ) ( 1 ) ; ( viii ) any dollar percentage charge that may be imposed before maturity due to a late payment, other than a deferral or extension charge, in violation of Section 128 ( a ) ( 10 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 10 ) and Section 226.18 ( l ) of Regulation Z, C.F.R. Section 226.18 ( l ) ; and, ( ix ) the fact that the creditor has or will acquire a security in the consumers principal dwelling, in violation of Section 128 ( a ) ( 9 ) of TILA, 15 U.S.C. Section 1638 ( a ) ( 9 ) and Section 226.18 ( m ) of Regulation Z, C.F.R. Section 226.18 ( m ) ; and, ( c ) making consumer credit disclosures that do not reflect the terms of the legal obligation between the parties, in violation of Section 226.17 ( c ) ( 1 ) of Regulation Z, 12 C.F.R. Section 226.17 ( c ) ( 1 ). By failing to disclose, or accurately disclose, material credit information, as described above, XXXX has engaged, and continues to engage, in deceptive acts or practices in violation of Section XXXX ( a ) of the FTC Act 15, 15 U.S.C. Section 45 ( a ). In the course and conduct of offering mortgage loans and/or extending other consumer credit, XXXX in numerous instances has violated, and continues to violate, the requirements of TILA and Regulation Z in the following and other respects by : ( a ) failing to deliver the required notice of the right to rescind consumer credit transactions in which security interest are or will be retained or acquired in consumers principal dwelling, in violation of Section 125 ( a ) of TILA, 15 U.S.C. Section 1635 ( a ) and Section 226.23 ( b ) of Regulation Z, 12 C.F.R. Section 226.23 ( b ) ; ( b ) engaging in the practices described above, thereby depriving consumers of the right to rescind, in violation of Section 125 ( a ) of TILA, 15 U.S.C. Section 1635 ( a ) and Section 226.23 ( a ) of Regulation Z, 12 C.F.R. Section 226.23 ( a ) ; ( c ) by failing to disclose, or accurately disclose, material information relating to, or making misrepresentations regarding the TILA right of rescission, as described above, XXXX has engaged, and continues to engage, in deceptive acts or practices in violation of Section 5 ( a ) of the FTC Act, 15 U.S.C. Section 45 ( a ). Consumers have suffered, and will continue to suffer substantially as a result of XXXX violations of TILA and Section 5 ( a ) of the FTC Act, as set forth above. Despite our numerous requests, it has never been shown to us who the real parties in interest are and/or the identiy ( ies ) of the true creditors in regard to our Promissory Note. Therefore, no true creditor has been brought before us who can state a cause of action, provide proof of an injury and/or direct causation that can be redressed by a Court with jurisdiction. We can not be in default when we do not know who is owed and for how much, if any. There appears to be no evidence in any jurisdiction that the named trust exists, or was organized within any jurisdiction. We can find no evidence of an original document organizing the trust, nor that the trust document ( Pooling and Servicing Agreement ) was ever completed as a written instrument with exhibits. We can no find no evidence or even suggestion in any document that the named trust entity was utilized by anyone in any financial transaction ( one in which money exchanged hands ) or business activity. Specifically, other than self-serving and apparently self-generated documents, there has been no evidence presented to us that would corroborate a claim that the Trust ever conducted business and more specifically ever acquired the debt. In the absence of any evidence to the contrary, including evidence of an actual financial transaction in which the loan was originally funded or purchased, none of the parties named in any of the recorded instruments, including XXXX XXXX XXXX , XXXX XXXX, As Trustee for XXXX XXXX XXXX XXXX XXXX Mortgage Backed Certificates, XXXX XXXX, is either the obligee of the debt nor a person legally empowered to collect the debt on behalf of the obligee based upon long-standing guidelines published by the XXXX ( XXXX XXXX XXXX XXXX XXXX XXXX ), the XXXX, and statutory law ( UCC- Uniform Commercial Code ) enacted as law in all 50 states. The authenticity and authority of all signatures on our note are denied specifically ( see UCC 3-308 ). We are not expert document examiners. We understood that we were receiving a loan from the lender named within the four corners of the document. The substance of the transaction, however, was that the money used to fund the transaction came from the proceeds of the sale of unknown third parties. Because the law regards substance over form, we take it to mean that we were deceived ( by fraud ) into signing a document when we were unaware, by reason of such fraud, that we were executing a document of that nature. We intended to sign up for a loan, however, the substance of the document we actually executed was quite different. Our lender was a stand in and never loaned their capital at risk of loss. The money was advanced by an undisclosed third party. While other forms of fraud make a note voidable, fraud in the factum makes a note void ab initio. As evidence that the Trust is empty is the fact that New York Trust law prohibits a Trustee of a Trust from accepting a late assignment to the Trust because it could cause the Trust to lose all of its tax benefits and cause a great loss to the Trust beneficiaries. So did the Trust actually accept the late assignment which the PSA says is an ultra vires act? We think not. Further, Ocwen Loan Servicing, LLC claims to be the current servicer of our purported loan. Despite numerous inquiries, Ocwen has failed/refused to provide evidence that an initial power of attorney exists wherein the alleged named Trustee, XXXX XXXX XXXX , XXXX XXXX authorized Ocwen to act and sign for the loans allegedly held in the mortgage-backed securitized trust on behalf of said mortgage-backed securitized trust, to demonstrate manifestation of the principals intent to enter into a fiduciary relationship with Ocwen where Ocwen acts on the principals behalf and subject to the principals control. Despite our timely Notice of Rescission of the Loan in accordance with the United States Supreme Court decision of XXXX v. XXXX XXXX XXXX , XXXX, we attempted to obtain a Modification Agreement and made numerous and timely trial payments to Ocwen, who purported to be the Servicer, at the time, for XXXX as Trustee for XXXX XXXX XXXX XXXX XXXX. Despite our full compliance with the terms of the modification agreement, and Ocwen/XXXX acceptance of our timely loan modification payments, Ocwen/XXXX has failed/refused to honor the modification agreement. Again, despite our numerous and repeated efforts to amicably resolve these issues, XXXX XXXX XXXX , XXXX XXXX has wrongfully scheduled a foreclosure sale set for XX/XX/XXXX at XXXX XXXX ( 15 CH 12854, Calendar 57 ), Circuit Court of XXXX County, Illinois. It should be noted that XXXX has been fined billions of dollars for their egregious actions, many of which are very similar to our case, and have entered into numerous Deferred Prosecution Agreements ( DPAs ). The Justice Department, the Department of Housing and Urban Development ( HUD ) and the Consumer Financial Protection Bureau, along with 49 State Attorney Generals and the District of Columbias Attorney General, have reached a {$470.00} XXXX agreement with XXXX XXXX XXXX XXXX and its affiliates ( collectively XXXX ) to address mortgage origination, servicing and foreclosure abuses. Also, Ocwen has entered into a {$2.00} XXXX settlement with the Consumer Financial Protection Bureau to address allegations of robo-signing of foreclosure documents and other fraudulent practices while servicing loans for over XXXX struggling homeowners. In Illinois, alone, Ocwen is providing troubled borrowers with more than {$91.00} XXXX in first lien principal reductions and more that XXXX will be eligible for a direct cash payments. In conclusion, it is evident that the many egregious and fraudulent actions that XXXX and Ocwen have been fined and prosecuted for, are also prevalent in their handling of our Mortgage and wrongful pursuance of this foreclosure action regarding our family home. Therefore, we respectfully request that an investigation be conducted against XXXX and Ocwen pursuant to the issues raised in this Complaint as well as violations of TILA, Regulation Z, and/or Section 5 ( a ) of the FTC Act including, but not limited to, rescission or reformation of contracts, refund of monies paid, and/or disgorgement of ill-gotten gains. We also respectfully request that we be awarded such relief as this Honorable Office deems reasonable as a result of XXXX and Ocwens illegal and egregious actions and to prevent unjust enrichment.
Company Response: Closed with explanation

Timely Response

2018-07-24

Jupiter, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I went to make my mortgage payment on XX/XX/XXXX online and was unable. I called and Ocwen and was advised I was behind over {$9000.00}, which was not true as I had made, and Ocwen accepted all, of my payments to date. Upon further research, Ocwen indicated I had entered into two modification offers, which I never consented to accept ( one was for hurricane relief post hurricane in XX/XX/XXXX and was adamant that I did not want to accept any loan modification as a result of the storm nor any other loan modification agreement as I was continually making my monthly payments. This was ulimately confirmed on Ocwen 's end because they did not have a signed consent nor verbal acceptance of either offer ) After calling them three times to get the unapplied/suspense account ( balance over {$9000.00} ) properly applied to my principal balance, I was then told that all of those payments that were applied brought me current through XX/XX/XXXX! ( Keep in mind, Ocwen accepted all of my payments TO DATE through XX/XX/XXXX! ). I am gravely concerned my payments are not being credited properly and late fees and penalties are being accumulated when they should not be since I am technically current according to my records. OUt of desperation and because honestly Ocwen 's system breaks you down, on XX/XX/XXXX, I received a loan modification agreement dated XX/XX/XXXX, advising my payments had slightly increased. I spoke to an agent to inquire about modification terms, and they advised I was already denied for that loan modification ( I have in hand a loan modification agreement dated on that date, inviting me to enter into the loan modification agreement ). I am frightened and concerned and Ocwen is of no assistance on getting this matter corrected. This is impacting my credit and causing harm to my other responsibilites and above all stressful.
Company Response: Closed with explanation

Timely Response

2018-07-23

Cumberland, RI

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-07-23

Crescent City, CA

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-07-23

N Port, FL

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account status incorrect
Company Response: Closed with explanation

Timely Response