Date Received: 2015-10-29
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: HARDSHIP LETTER : XXXX XXXX, 2015 '' Helping Homeowners Is What We Do! '' Says Ocwen. How is Owen helping me by giving me a debt of {$1000000.00} on a home that Ocwen appraises at {$260000.00} when the market value is less than {$200000.00} and making me pay {$3100.00} per month on a home that would, at auction/short sale only realize {$150000.00}? In my hardship letter dated XXXX XXXX, 2015 I provided you documentation that showed the original loan was predicated on a fraud perpetrated by the broker and " HIS '' appraiser. Ocwen 's mortgage is 4 times more than Ocwen 's appraisalOcwen 's Loan Modificationis based on a loan debt to Ocwen in the amount of : {$1000000.00} Ocwen 's appraisal for the value of the property is : {$260000.00} XXXX XXXX appraisalXXXX {$220000.00} Auction/Short Sale ( per XXXX XXXX ) XXXX $ XXXXI now refer to your letter dated : XXXX XXXX, 2015 in which you responded : Please note that Ocwen was not involved with the origination of the loan and therefore Ocwen or this Office would be unable to comment on matters related to origination.. I quite agree that Ocwen is NOT responsible for what happened on the original fraudulent and unethical loan. Ocwen has a wonderful motto : Helping Homeowners Is What We Do! '' How can Ocwen be helping me by making me pay {$3100.00} per month on a home that Ocwnen 's own appraisal says is worth only {$260000.00}?? But Ocwen is NOT helping me by perpetrating and enabling the origination of the fraud to continue. If Ocwen really wanted to help, Ocwen could mitigate this " ongoing " fraud in consideration of the true value of the home which is less than {$200000.00}. Ocwen states in Paragraph XXXX line # XXXX : " the market or appraised value of a property does not have any bearing on the terms of a modification, '' Do you not realize that you are setting up your investors for a major loss? I can absolutely assure you and your investors that the appraised/market value will have a great deal of bearing when and if the property goes to auction / short sale. Professionals in the real estate business ( XXXX XXXX ) advise me that " no sophisticated buyer '' will pay more than {$150000.00} for this property ; I have provided you documentation in my previous communications in support of this. I am offering to take on a new loan modification based on a realistic property value of {$200000.00} and/or an arrangement to stay in the property for $ XXXX {$1500.00} per month. Sincerely, XXXX XXXX XXXX XXXX, 2015
Company Response:
State: FL
Zip: 34982
Submitted Via: Web
Date Sent: 2015-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-29
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: This is a complaint about Ocwen Loan Servicing. I started the process of loan modification XX/XX/XXXX. The process was finalized XX/XX/XXXX. This is 4 months later than when they told me it would be finalized. During the process I made every monthly payment agreed upon. In XXXX I received a statement stating my next payment was due XX/XX/XXXX. I called to verify this date. I was assured everything was set. I made on time payments XXXX, XXXX, and XX/XX/XXXX. Two weeks after my due date in XXXX I received a call saying I was a month behind. This made no sense since I had all the statements saying I was not behind and was paying on time. I requested a work order to figure out what happened. The person who called me could not give me a reason why I had XXXX statements in XXXX that said different things. After they investigated they realized there was an error in funds being transferred etc ( something I do n't really understand ) during the loan modification process and basically I was just a month behind. I explained I could not pay an extra mortgage payment. I 'm on tight budget hence my decision to do a loan modification in the first place. They did not care. Not their problem even though they created it. I am now trying to catch up so I 'm no longer behind and ca n't pay other bills. They are now charging me late fees which makes it harder for me to catch up and my credit score has been damaged. Also almost immediately after just finding out I was supposedly behind I started receiving letters threatening foreclosure.
Company Response:
State: WA
Zip: 98513
Submitted Via: Web
Date Sent: 2015-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-29
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My mother and I purchased a home together. My mom got sick and was XXXX. We fell behind on our mortgage. We have tried to save our home by trying to get trying to get a modification with no avail. When we first started trying to modify, XXXX XXXX XXXX had the Mortgage. I faxed all the forms and necessary documentation to them at least 15 to 20 times and was always told they did not receive the faxes I sent, even though I had the fax confirmation sheets. I finally took all my forms and documents to the XXXX XXXX XXXX Branch that I got the mortgage from and provided them with the fax # and they faxed it for me. ( XXXX-then said they received the fax. ) They were about to do a trial modification in " I believe XX/XX/XXXX " per a phone conversation I had with one of there Customer Service Representative at the XXXX phone #. About a week later, I received a letter from XXXX stating they will be putting my mortgage with a company called OCWEN. I called XXXX and OCWEN and was told that I will have to start the modification process all over again. ( I started the modification process in XX/XX/XXXX. ) I did just that and OCWEN also started off with saying they were not receiving my faxes. In the mean time to save my home, I had to file Bankruptcy, Chapter XXXX. I paid on the Bankruptcy for about 18 months in the about of over {$38000.00}. The bankruptcy court dismissed the case because I did n't make enough money to make the entire payment every month. The whole time the home was in Bankruptcy, I was still trying to get a modification and also XXXX Grant that was available XX/XX/XXXX to help people that were having trouble and facing forcelosre. I have actively tried constantly to get this situation resolved and have not been able to. OCWEN would say that I made to much money or not enough money to qualify and my income did not ever vary.
Company Response:
State: OK
Zip: 73013
Submitted Via: Web
Date Sent: 2015-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-29
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: XX/XX/XXXX-XX/XX/XXXX we 've experienced a {$47000.00} decrease in my husband 's pay.. For months my mom was making our mortgage payment for us .I believe XX/XX/XXXX or XX/XX/XXXX is when we began to backslide and we were no longer able to make our mortgage payments. I was in constant contact with Ocwen. I went online after missing two to three mortgage payments to see if I could qualify for any assistance. I was told I could apply for a modification. So, I did. About a month went by and we found out that we were accepted and our mortgage payments were going from {$2100.00} to about {$1600.00}. I. We made every single payment on time. A few months went by and we received the packet in the mail congratulating us that our modification was now accepted. We had to fill out and mail in the paperwork accepting the new program.My husband and I both filled out what we needed and submitted it in the envelope provided. Another month or so passed and I called when I got a letter from Ocwen saying we were in default, we were no longer on the modification program and saying something about foreclosure proceedings. I called that day and was told by a customer service rep that they did not receive my paperwork in time. I said, " I mailed it out three weeks ago, how was is not received. '' She said that she was " sorry for the inconvenience '' but without the paperwork, I was in default. I mentioned many different correspondence had been sent from my home to Ocwen, how did this one very crucial item fail to make it to the mail room? I asked to have the paperwork faxed or scanned over to me and I would fill everything out and resubmit everything directly to her. She said, no. I asked if I had any recourse. Her response was " nope. ''. I asked what my options were and she said I 'd have to come up with over {$14000.00} and them my monthly payments would double and go to a whopping {$3200.00} she continued to ask me if I could afford this, I broke down and said no.She asked if I had {$14000.00}. I said no, She asked if I could afford the {$3200.00}, I said no. I could n't handle the {$2100.00} mortgage payment prior to the modification. I was assigned a new relationship manager by the name of XXXX XXXX. On Monday XXXX, XXXX I spoke to him and the only thing XXXX was able to do was to cut down the {$14000.00} to {$9600.00} and then from XX/XX/XXXX-XX/XX/XXXX my payment would be over {$3200.00}. He asked if I could afford this and I said no. He said this was my last and final option before foreclosure. He also told me the grace period to pay the mortgage was taken away and when my XX/XX/XXXX payment comes due it will be roughly {$2200.00}. Even more than my original amount prior to the modification. How am I supposed to come up with not only the down payment but five months of doubled mortgage payments and then they take away my grace period? By my last mortgage payment, on XX/XX/XXXX, we will have had to come up with {$26000.00}. I can not believe this is happening. I want to have the opportunity to save my family from eviction and my home. We have nowhere to go, and I feel as if no one is giving me the opportunity to rectify an easy fix. Let me submit my paperwork. I never defaulted on any of my payments. I did was I was told and constantly followed up. My family and I should not be threatened with foreclosure due to the negligence of the USPS or Ocwens handling of the mail. I went online to the Consumer Affairs web site and there are were over XXXX consumer complaints. And since XX/XX/XXXX, XXXX complaints have been filed with the Consumer Financial Protection Bureau. So, obviously my complaint and lack of resolution is typical. And they also have been the subject of XXXX class action lawsuits.
Company Response:
State: IL
Zip: 60490
Submitted Via: Web
Date Sent: 2015-11-02
Company Response to Consumer: Closed
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-29
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I had online mortgage payments set up with Ocwen, and had been paying for several months without an issue. Suddenly, Ocwen told me that my XXXX payment had been late and that they would charge me a {$19.00} late fee and report this to the credit bureaus as a late payment. I was incredibly dismayed, as I was certain that my XXXX payment had been made on time. I then examined my account on Ocwen 's site, and I found that someone in Ocwen had changed the XXXX digit of my checking account number so that the ACH would not go through. As the site had shown my account number in an " XXXX '' format, I had assumed the information had not changed from the previous month - but in fact, someone at Ocwen willfully modified this to cause my late payment. I then brought this to the Ocwen Ombudsman 's attention, and the issue has since been resolved, where my {$19.00} was refunded and XXXX payment is shown as current with the credit bureaus. However, I wish for the CFPB to know about this deceptive, fraudulent and abusive practice at Ocwen - as I know I am not the only victim here.
Company Response:
State: VA
Zip: 20171
Submitted Via: Web
Date Sent: 2015-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-28
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: I am in the process of a modification and want to express my gratitude for the opportunity without the unnecessary additional cost of litigation. Before the process, that was a long and drawn out experience to begin with, I sent all the necessary documents and was approved for a trial period. Before I agreed to do the trial period, I specifically asked whether or not a ballon payment would be included. It was explained to me that there was not going to be a balloon Payment as part of my modification. During many recorded calls, I explained I would not accept the Modification if it included a balloon payment as it is not financially possible for me to do so. Ocwen 's employees told me numerous times on the recorded conversations there was no balloon payment included in my modification offer. After timely making the trial period payments, I received the motivation documents which I was surprised to see included a required balloon payment of over {$34000.00}. This seems to me to be a violation of the Truth in Lending Act ; as well as, purposeful misrepresentation to obtain my trial payments with no real intent to offer a feasible modification. Originally, Ocwen told me in order to qualify for a modification, I must be behind on my mortgage payments and suggested I purposely miss payments. Since my house is underwater, I was unable to obtain a refi. After calling Ocwen to try and fix the issue, I was told I should just catch up and there would be no further issues. Because of Ocwen 's promises, I paid over {$5000.00} to Ocwen in order to get the modification. After my call of XXXX XXXX, 2015 to discuss the mistaken requirement of a balloon payment, Ocwen said they would review the tapes and see if I was told there would be no balloon payment but that the modification had to be accepted ( with the balloon payment ) no later than XXXX XXXX 2015. I do not believe Ocwen will have the time to properly review our previous telephone conversations before the modification offer expires. Therefore, please confirm in a responsive writing that Ocwen is in fact reviewing the recorded conversation and that the modification offer expiration date is continued until the investigation is properly concluded. Thank you for your assistance and I look forward to resolving this issue without involving my attorney.
Company Response:
State: NJ
Zip: 08012
Submitted Via: Web
Date Sent: 2015-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-28
Issue: Settlement process and costs
Subissue:
Consumer Complaint: Mortgage with GMAC XX/XX/XXXX maturity date XX/XX/XXXXXXXXXXXX @ month, never refinanced or modified. Sold to ocwen XX/XX/XXXX and ocwen nchanged the maturity date to XXXX, also was showing XXXX different bals on the statements, pretaning to principal and interest, requested the original note three times and received other material.breaking the law? I have all documents.they said it was a mistake, but never corrected it. Had to withdraw savings, and pay it off.never received the original
Company Response:
State: GA
Zip: 30338
Submitted Via: Web
Date Sent: 2015-10-28
Company Response to Consumer: Closed
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-28
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Ocwen Loan Servicing illegally reported me as deliquent or has lied to you about reporting me deliquent to hold hostage my insurance, they have violated my privacy under Gramm-Leach-Bliley by not safeguarding my private information, based under GLB Under the Safeguards Rule, financial institutions must protect the consumer information they collect. They are in clear violation and I intent to file a lawsuit and request a fine be imposed on them to the fullest extent of the law. They are also actively practicing unfair Deceptive and Abusive Acts in violation of 940 CMR 8.0
Company Response:
State: ME
Zip: 039XX
Submitted Via: Web
Date Sent: 2015-10-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Ocean is currently servicing my loan ; I have had a loan with them since 2009. I had a substantial hardship, I fell behind on my mortgage payments. I visited the website and saw that they offered assistance or loan modifications. I have been completely unable to get in touch with Ocwen. I have called and sent countless certified letters which goes unanswered. When I call each representative tells me something different. I have sent the Request for Loan Modification which also went unanswered. I am currently working and my financial hardship is corrected. I believe I can afford my home and I do not want to lose it. I have heard of the mortgage settlement in the news however I have not heard anything regarding my loan. I am desperately trying to keep my home for me and my children and I do not want to foreclose. I want to resume making payments and coming up with a modification for the arrears. Please please help me
Company Response:
State: VA
Zip: 23453
Submitted Via: Web
Date Sent: 2015-10-27
Company Response to Consumer: Closed
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-27
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: The amount left on my loan for XXXX 2015 is XXXX. I made my mortgage payment for the month of XXXX 2015 in the amount of XXXX. That was suppose to be used for the monthly payment of XXXX and a EXTRA principal payment of XXXX to be applied towards the principal only, as I clearly stated on my monthly payment coupon and on the bottom of my check. [ # XXXX XXXX When I received XXXX 2015 payment in the mail the amount left on my loan was XXXX which was correct. I made Octobers payment [ check # XXXX XXXX in the amount XXXX, which was broke down as XXXX with a EXTRA principal payment of XXXX to be applied towards the principal only, as I clearly stated on my monthly payment coupon and on the bottom of my check. Now at this point when XXXX payment was made the amount of my loan should of dropped below XXXX. But on XXXX my account on XXXX website shows that my loan amount is XXXX and that same amount is shown on my XXXX 2015 payment coupon I received in the mail. THIS IS CLEARLY WRONG. On my XXXX statement it shows a XXXX amount and XXXX unapplied funds. My Account on line shows that my next payment is n't due until XXXX 2015, so it appears that Ocwen went into my account reversed my principal payment and applied it towards the following months mortgage. I have tried to settle this with Ocwen XXXX different occasions, on the first occasion they sent me a letter that makes no sense at all. In that letter they say that I " requested them to provide the payment option available on aforementioned loan and breakdown of each payment option. '' They still have not responded to my second request. Ocwen has also raised my interest rate from 3.87 % to 4.00 % I am not aware that the feds have raised interest rates as of yet.
Company Response:
State: AZ
Zip: 85326
Submitted Via: Web
Date Sent: 2015-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes