Date Received: 2016-11-29
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Hello, In XX/XX/XXXX after the fall of the Mortgage business, my second mortgage loan was charged off by the servicer XXXX due to my bankruptcy filing in XX/XX/XXXX. After being unemployed for XXXX years, I was no longer able to keep my BK payments of {$2500.00} per month and my chapter XXXX was dismissed but not prior to my unsecured debts being charged off in bankruptcy. I then request that my XXXX mortgage loan be modified by Litton Loan. However, Litton Loan Servicing company was closed down at the end of XX/XX/XXXX and my loans were transferred to Ocwen Loan Servicing. Ocwen modified my first loan and invalidated my second mortgage. I have been paying on this modified loan now for over 4 years. I am now being contacted by XXXX XXXX, a collection agency, in an attempt to collect on the charged off XXXX mortgage debt under the name of Ocwen Mortgage. Ocwen Mortgage said that they have nothing to do with that debt. I 've asked both Ocwen and the collection company for the name of the investor they are collection payment for and I can not get an answer. The leins are recorded in the name of XXXX Mortgage, the company that fund my mortgages, however they filed chapter XXXX bankruptcy in XXXX and the bankruptcy case was closed in XX/XX/XXXX. I have attempted to contact XXXX Mortgage with out any success. I have also contacted the trustee that handled the bankruptcy and they have no contact information. Through MERS I found the investor listed on my first mortgage as XXXX Bank as Trustee for XXXX Mortgage and the second was listed as XXXX XXXX XXXX for XXXX Mortgage. I contacted B of A and they could not find an active account for the second mortgage and was not able to help me any further. If the debt of the second mortgage still exhisted in the name of Ocwen, why was this not address at the time of the loan modification. I do not have proof that either Ocwen or LCS Financial has any rights to collect on my mortgages and I am asking that they prove that they have the right to collect on these debts. Thank you, XXXX
Company Response:
State: CA
Zip: 95621
Submitted Via: Web
Date Sent: 2016-11-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-28
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My late husband got sick in XX/XX/XXXX ( XXXX ) and past in late XX/XX/XXXX. He was the main income provider.. I called and started paperwork to get a home modification and finally got the right paper work in, the was denied because the pool of investors had a cap on loan modifications and was not approving any more. I have a income now and I am on XXXX. XXXX my only income ) but want to start paying to keep my house but do n't know what to do now. Please help
Company Response:
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2016-11-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-28
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: We were approved for a loan modification with Ocwen Loan Servicing. We are signing the loan modification agreement under duress. We are not being represented by an attorney, but Ocwen is being represented by an outside law firm, XXXX XXXX. I called to ask the status of our loan modification on Thursday, XXXX. Our relationship manager is a part of Ocwen 's litigation department. He informed me that our loan had been approved for a permanent modification on XXXX, but the numbers had not been released. Ocwen mailed out the loan modification and the documents were delivered to our home address on XXXX. I called the relationship manager on Monday, XXXX and he was unaware the documents had been mailed out. I sent an email on XXXX and XXXX asking questions about the escrow shortage, incentive amount, interest bearing principal balance, amortization schedule and balloon payment amount. I called the relationship manager on XXXX to see if he had any answers to our questions. He informed me that there was a conference call where my questions were addressed but he was not going to answer any of my questions or concerns over the phone and I would have to wait to get Ocwen 's response from their attorney. These signed documents are due back on XXXX and as of XXXX XXXX cst, we have not received a response from Ocwen or their attorney to address any of our questions or concerns. We are emailing the documents to our relationship manager, although our concerns have not been addressed because the documents are due back on XXXX and we were not granted an extenstion. Ocwen still claims that Option One Mortgage Loan Trust XXXX is the holder of our note, when the trust is reporting the principal balance which does not match any amounts provided in our loan modification. Our relationship manager is not knowledgeable of our loan and is either unwilling or unable to answer any questions or concerns we have regarding our loan or loan modification. Any questions or concerns we have about our loan or loan modification are always responded by their outside legal counsel, XXXX XXXX and XXXX XXXX is not in the servicing business to be able to address any questions or concerns we have regarding our loan or loan modification. XXXX XXXX responded to a complaint we filed regarding the borrower incentive amount we would eligible for, but the documents we received on XXXX had an incorrect amount of {$5000.00} vs the {$10000.00} that was provided in the response from XXXX XXXX. The documents claim to provide a payment schedule in Section XXXX in the Modification Agreement showing our payment plan for the life for our modification loan after the trial period. I do not see where this payment schedule was provided in Section XXXX of the Modification Agreement. I am not sure how Ocwen can be our loan servicer and can not and does not respond to any questions or concerns regarding our account. I informed XXXX XXXX, my assigned relationship manager, on XXXX that I would be filing a complaint with the CFPB based on his refusal to respond to any questions or concerns I had regarding the modification agreement and he said he had no problems with me filing the complaint.
Company Response:
State: TX
Zip: 78628
Submitted Via: Web
Date Sent: 2016-11-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-28
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My house loan conditions, under the loan modification agreement with GMAC Mortgage in XX/XX/XXXX, are such that the payments would increase by 1 % each year until XX/XX/XXXX, at which point the interest rate would be fixed at 5.05 %. When the payment amount needed to be increased, I was notified. On XX/XX/XXXX, I was notified by GMAC Mortgage that the interest rate would go up to 2 % ; and the payment amount would increase. The loan was first under GMAC Mortgage, and then it was transferred under Ocwen Loan Servicing , LLC on XX/XX/XXXX. After the transfer in XX/XX/XXXX, I was notified by Ocwen on XX/XX/XXXX that the interest rate would go up with an increased payment amount. After a few months, Ocwen stopped sending me the statements with the payment amount : this was done without my agreement. In other words, they stopped sending me any form of billing statements ( neither paper nor online ). In XX/XX/XXXX, Ocwen did not send a notification of the new payment amount under the new interest rate ; as a result, I continued to make the payments under the old amount. Later, I received a letter which showed that I did not pay the full amount for the recent months and that I accumulated a debt. When I called Ocwen for an explanation, I was informed that they could not send me billing statements or notify me of the increased payment amount because I was still under bankruptcy. This does not make sense since in XX/XX/XXXX, even under bankruptcy, I was notified when the payment amount needed to be increased. Ocwen is now demanding that I pay the full debt amount acquired during these months and did not accept my last payment. As a result, Ocwen is threatening foreclosure if I am unable to pay the full amount all at once. It seems to me that Ocwen is doing the best that they can to get a hold of the property.
Company Response:
State: CA
Zip: 94546
Submitted Via: Web
Date Sent: 2016-11-28
Company Response to Consumer: Closed
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-27
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I paid off my mortgage to OCWEN. They were supposed to send me the balance of my escrow account. Their represented stated that I would receive three checks. I only received two. They owe me {$130.00}. They ignored the attached letter which I sent certified and received a signed delivery receipt. XXXX XXXX Tel. XXXX XXXXXXXXXXXX
Company Response:
State: PA
Zip: 190XX
Submitted Via: Web
Date Sent: 2016-11-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Hello, I am asking the Consumer Financial Protection Bureau for assistance with reference to my mortgage/home loan. I am a victim of predatory lending and now my home is in jeopardy of Foreclosure. I am trying to resolved this matter with the current loan servicer, Ocwen Loan Servicing LLC, and XXXX Solutions. I have made multiple attempts to secure an affordable mortgage payment based on my outstanding loan value which exceeds the current value of my home. Due to multiple service handlers, lack of proper communication, XXXX servicer inconsistencies, excessive fees and other circumstances, which has forced me into this position of mortgage/loan arrears. As a consumer, i feel that my rights have been violated and I am seeking some assistance with this matter. Attached is a full letter explaining the details of my complaint. Thanks for your help.
Company Response:
State: NY
Zip: 11413
Submitted Via: Web
Date Sent: 2016-11-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have a mortgage loan with Ocwen Loan Servicing LLC, bearing loan # XXXX, I applied for a loan modification recently and instead of reducing my payments, they increased my payments, I wanted to dispute the increase in payments, they said that because my property is not under water, hence they ca n't give me a principal reduction and also ca n't reduce my monthly payments. Ocwen has my property value as {$460000.00} ( Property Address : XXXX XXXX XXXX XXXX, XXXX CA XXXX ), and my loan balance with them is close to {$420000.00}, I got a certified appraisal done the value of my property mentioned in the appraisal report was {$380000.00}, I sent the copy of the appraisal to Ocwen about a month back and to date they have not done anything on this issue. I request CFPB to intervene and do the needful to help me save my home.
Company Response:
State: CA
Zip: 92801
Submitted Via: Web
Date Sent: 2016-11-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-27
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I attempted a modification of my loan on the property located at XXXX XXXX XXXX, in XXXX Oregon with OCWEN. The almost $ 3200-monthly mortgageXXXXXXXX modification request was denied after several attempts since XXXX. I continued paying with the hope that a modification would be a certain remedy. In XXXX, I received a phone call with documents ( attached ) that I 'm eligible for a streamline modification. Good News, right? After fulfilling the first two months of payments, OCWEN created another document with balloon payment for approximately {$230000.00} ( attached ). It reads : THIS IS A BALOON MORTGAGE AND THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON MATURITY IS {$230.00}, XXXX, TOGETHER WITH ACCRUED INTEREST, IF ANY, AN ALLL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE ... THIS WRITTEN LOAN AGREEEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND XXXX NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. I had a recent conversation with an Ocwen Loan Modification Officer regarding the above language and whether I need to submit the final XXXX documents before the scheduled meeting for XXXX XXXX. He indicated that the documents were formality and that the due date was generated based on time it was mailed out. The due date is before our meeting with XXXX for XXXX/XXXX/XXXX. Ocwen did n't initially share the balloon information or the increasing escrow payments. The new 'balloon ' modification suggests that after interest is calculated, I will have paid more in interest and no principal reduction for an underwater property over the ( shortened ) 20 year term. The recent settlement agreement reached by the Consumer Financial Protection Bureau against Ocwen Financial Corporation show that they have engaged in " significant and systemic '' misconduct in the mortgage servicing process. Under the terms of the agreement, Ocwen must provide {$2.00} XXXX in principal reduction to underwater borrowers. Ocwen must also refund {$120.00} XXXX to the nearly XXXX borrowers serviced by Ocwen or its subsidiaries whose homes have already been foreclosed. Finally, Ocwen will be subject to greater regulatory scrutiny going forward. In light of their continued fraudulent actions, it does not appear that OCWEN faces any scrutiny. After fours years of attempting to modifying our loan, we were approved for a modification back in XXXX and it was supposed to drop interest rate down to 3.6 % after I made their 3 trial payments - two trial payments successfully until receiving new loan document relating to a balloon payment. In addition, we owe the " balloon payment '' even if we sell the property. So the house is n't even worth $ XXXX, the balloon payment amount + the current mortgage of $ 360XXXX plus amount already paid for the last 10 years. And yes, we owe this " balloon '' on sale or refinance or end of term, whatever comes first. Plus, the fine print indicates that we probably have to keep this loan for 20 years or it will be void ( at their discretion, not yours ). Doubtful the mortgagee can sell without interference, so it seems to me, OCWEN has created no-option option for homeowners. I am XXXX XXXX XXXX and have nothing except for my wife and home. OCWEN did n't initially tell me the balloon or the increasing escrow payments. OCWEN retains their right to rescind " if '' I miss a payment. However, if the interest remains, the predatory accounting continues. So it appears that after numerous federal investigation for fraud and state regulatory scheme established to help homeowners remain in their home, Ocwen continues its predatory scheme.
Company Response:
State: OR
Zip: 974XX
Submitted Via: Web
Date Sent: 2016-11-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-11-25
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: In XX/XX/XXXX my wife and I bought a home. Our first mortgage is through American Home Mortgage interest only loan with an interest rate of 6.5 % fixed until XX/XX/XXXX for XXXX. Our Second loan is a principal and interest loan for XXXX at an interest rate of 8.125 %. Our loans have been sold multiple times throughout the years. Currently our first mortgage is with Ocwen and second mortgage with XXXX. The plan was to refinance in years however, the housing market crashed and we have been unable to do so. We have tried multiple times to refinance through, XXXX, Close your own loan etc. to refinance. However, our home is underwater. Our formal appraisal in XX/XX/XXXX came in at XXXX. We currently owe XXXX. Each lender has requested approximately 68,000.00 at closing in which we are unable to obtain. I am attempting modification through Ocwen Financial. I originally submitted package on XX/XX/XXXX with the assistance of a HUD advisor. I phoned Ocwen on XX/XX/XXXX for update. I was told at that time needed spouse signature on XXXX form which instructions stated did not need. The rep stated this was all that was needed to process Modification and confirmed that also with my HUD advisor. I phoned for update on XX/XX/XXXX in which the rep stated needed XXXX returns not XXXX and in which I had put on form as instructed prior. XXXX updated and re submitted. By XX/XX/XXXX we will have paid almost the principal in interest only with no principal. According to the Ocwen Rep our interest rate will either increase or decrease by 2 % in XXXX and can go as high as 11.4 % or as low as 2.4 %. As of XX/XX/XXXX the Ocwen rep unable to give projected amount. I am not certain we will qualify for modification because they look at our income based upon this loan only and not overall income to debt ratio. This is absurb we will have paid almost the entire loan only in interest and then depending upon their modification if any they will want us to pay even more toward principle which will potentially double or triple the total amount we pay on the loan. Also, I am making no progress in the modification process as each time I call one Ocwen rep states everything in order to complete process, then when phoning again to assure they have received my documents a different rep states some line has n't been signed or a date has n't been entered. When filling out paperwork for modification I filled out the Making Home Affordable application package and spoke with a HUD advisor of all information I had completed. Ocwen continues to give me the run around after I have submitted all completed documentation as a stall tactic. All of this and I continue to pay only interest with no resolution. Our home is a custom built home which is to increase the value of our home. Currently across the street 3 new homes are being constructed through XXXX. These are not custom homes they are pre-fabricated homes therefore further decreasing the value of our home. I need a resolution to our mortgage in order to save our home. We are current and have been current on our mortgage the entire time. I spoke with a gentlemen from XXXX out of California who states he can decrease my interest rate on both loans to 2 % fixed forever and decrease 10 % of 1st loan for a fee of XXXX for first loan and XXXX for second loan. I am unable to pay the fee at this time.
Company Response:
State: SC
Zip: 29223
Submitted Via: Web
Date Sent: 2016-11-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-11-22
Issue: Disclosure verification of debt
Subissue: Not given enough info to verify debt
Consumer Complaint: The OCWEN LOAN SERVICING account XXXX Date of First Delinquency has been re-aged on my XXXX credit report as of XXXX. This account has been delinquent since XX/XX/XXXX. The account has never been brought current and in direct violation of Fair Credit Reporting Act 623 ( a ) ( 1 ), Ocwen loan servicing knowingly and willfully reported inaccurate information to a consumer reporting agency in order to extend the reporting period of the above account. On several XXXX credit reporting disputes Ocwen loan servicing maliciously 'verified ' the fraudulent information to the consumer reporting agency as being correct in order to have it remain on my credit report. I have enclosed a letter from the last creditor acknowledging FDO as XX/XX/XXXX, as well as a copy of my original loan payment history from XXXX ( original loan holder ) with the clear first date of Date of First Delinquency as XX/XX/XXXX, and a copy of my Chapter XXXX bankruptcy from XX/XX/XXXX, making it currently XXXX old. This account has continuously been sold and resold. XXXX loan & gt ; XXXX & gt ; Ocwen & gt ; XXXX then re-added to my credit report and now re-aged. This is a fraudulent practice.
Company Response:
State: NC
Zip: 28079
Submitted Via: Web
Date Sent: 2016-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No