Date Received: 2015-06-20
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: We have a XXXX mortgage on our home and it is a balloon loan that is due in 2017. We are attempting to pay an extra {$500.00} in addition to our monthly payments of {$120.00}. but our mortgage company Ocwen keeps applying a monthly fee to the {$500.00}. extra payment. I wrote " For Principal Only '' on the check and checked the box on the statement for principle only. Our statement shows that we are only paying {$370.00} on the principle and we are several months ahead in our monthly payments. They are trying to make it very hard to pay off the principle, Can you help us? Thank you, XXXX XXXX
Company Response:
State: MI
Zip: 49203
Submitted Via: Web
Date Sent: 2015-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-06-20
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I obtained a mortgage loan on XXXX/XXXX/XXXX. The property securing the loan was a condo in XXXX XXXX XXXX, Utah, appraised on the loan date at {$370000.00}. The original loan amount was {$330000.00}. The XXXX payment on the loan, {$2100.00}, was made on XXXX/XXXX/XXXX. On XXXX/XXXX/XXXX, I made an additional payment in the amount of {$310000.00}, reducing the loan balance to less than {$24000.00}, or slightly less than 7.5 % of the original loan amount. I telephoned Ocwen Loan Servicing and asked to have the PMI cancelled, since the loan to value percentage was now well under the minimum percentage for mandatory PMI. Ocwen sent me a form letter dated XXXX/XXXX/XXXX which ignored the current loan balance. The letter stated I would be required to show a satisfactory payment history of at least XXXX months and provide a new appraisal or BPO prepared by Ocwen 's designated vendor before termination of PMI would be considered. I called Ocwen again ( XXXX/XXXX/XXXX ) and was told by a representative that Ocwen 's internal policy required that I follow the procedures outlined in the XX/XX/XXXX letter - no other options were available. I asked to speak to the supervisor. I was told the supervisor was unavailable. I asked how to get alternative consideration since the loan balance was now so small. She said she would submit a dispute/request on my behalf asking for retroactive termination of PMI to XXXX/XXXX/XXXX, but her system did not permit her to provide me with any copy. I then received a letter ( XXXX/XXXX/XXXX ) stating that PMI would be terminated only when the loan amortization schedule ( XXXX years ) reached an LTV of 78 %. The date could not be altered by payment of additional principal. I called Ocwen again ( XXXX/XXXX/XXXX ) and spoke with a representative about both letters, pointing out that both ignored the fact the original loan balance had been reduced by over 92 % with the XXXX loan payment. The representative told me for the first time I could have PMI terminated by providing an appraisal that was issued no earlier than XXXX days prior to requesting PMI termination. I told her I had requested termination of PMI in XX/XX/XXXX, when the original loan appraisal was only XXXX days old, but that in neither prior phone call or in the XXXX Ocwen letters was there any mention about the option to deliver the original appraisal, which with the reduced LTV percentage ( now less than 7.5 % ) would have satisfied the PMI termination requirements. The rep told me to send a letter requesting special consideration and enclose a copy of the appraisal. I did that on XXXX/XXXX/XXXX. The response from Ocwen was yet another form letter, reciting the same requirements I had been told on the phone. I paid off the loan in full on XXXX/XXXX/XXXX. When I requested a payoff quote, the letter from Ocwen told me I could contact Ocwen 's Consumer Ombusdsman, an office created as a resource to assist with unresolved concerns and issues. In no prior phone conversation with any Ocwen, rep nor in any prior letter from Ocwen had I been informed that such an office existed. I called that office and explained the entire story and history of the PMI issue. I was promised a quick response. On XXXX/XXXX/XXXX I received an email from the Ocwen Ombudsman reciting that I had not submitted a current appraisal dated within XXXX months of the PMI suspension request, so PMI would not be refunded. Yet again, the loan payment circumstances were simply ignored. I have never received any refund of the PMI payments.
Company Response:
State: UT
Zip: 841XX
Submitted Via: Web
Date Sent: 2015-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-18
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: INTERNET COMPLAINT RECEIVED BY THE ATTORNEY GENERAL 'S OFFICE ON XXXX/XXXX/2015 XXXX XXXX XXXX XXXX XXXX XXXX, WA, XXXX Phone : ( XXXX ) XXXX Email : XXXXXXXXXXXX Name/Firm/Company : ocwen loan servicing Subject/Category : mortgage modification process Street Address : XXXX XXXX XXXX XXXX XXXX XXXX : XXXX XXXX XXXX, FL XXXX XXXX XXXX Phone : ( XXXX ) XXXX Website : XXXX Questions/Comments : My family and I are experiencing a financial hardship. I have been trying to process a modification application for the last 6 months and ocwen has made it impossible. Ocwen has refused to process my application. Ocwen continually looses documents that my wife and I submit to them for the application process. Then when I verify that they have received the documents, they ( ocwen ) will switch my process application to a different account manager who has to start the process all over again. Again this has continually been going on for 6 months. This hardship is due to loss of employment as I had to take an early retirement which resulted in a loss of substantial income. The desired outcome is to have ocwen financial services process a mortgage loan modification plan which would substantially help our family through this financial hardship
Company Response: Company chooses not to provide a public response
State: WA
Zip: 98201
Submitted Via: Web
Date Sent: 2015-06-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-18
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My payments to OCWEN are supposed to include tax payments to XXXX and insurance payments. A few months back I received notice from the insurance company that my policy had been cancelled due to lack of payment even though all my payments to OCWEN have been on time. Then I found out that OCWEN purchased another policy for me that was more than double the cost of the policy they let expire. I have since found another insurance policy for a much more reasonable price and I have paid in full for the entire year. Now the issue is after phone calls and letters, OCWEN will not readjust my escrow payment so I am still paying a higher price they originally calculated. I never chose OCWEN, this company was forced on me When Indy Mac sold my original loan.
Company Response:
State: AE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2015-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-18
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Hello, My name is XXXX XXXX and I have a home located XXXX XXXX XXXX XXXX XXXX Il XXXX. I had been struggling not to loose my home and was in a modification that was too high for me to afford. I was told just keep up with my payments for 12 months and my mortgage would be refinance. I never had the opportunity for apply for a HAMP because I was informed the loan bank would allow and was located in XXXX. My loan was originated in XX/XX/XXXX with Indy Mac Bank who was also who I was making my payments too. I was informed my loan was sold and according to Respa I did not received a 60 day notice that my loan had been sold and now my property has been taken from me by deed. I was also inform that I could contact XXXX Bank who my loan was sold to by my originated lender on XXXX to apply for a Home Affordable Modification since I never had the opportunity to being in a adjustable rate mortgage and my mortgage was under water. I was not notified in writing from my servicers or origination lender that my loan was sold to the bank that foreclosed on my property and will not work with me on not eviction removing me from my property. I really do n't want to loose my property for unfair treatment of adding force place insurance to my modification not allowing me to get my own insurance to reduce my payments to a fair amount I could not afford. Instead my lender would not allow me since they were making a commission off of me. I feel they only cared about themselves not me as a borrower assisting me with a fair fixed rate mortgage instead of a ARM and violated Respa Guidelines by not written notice that my loan was sold to a lender I could have tried to work with to avoid loosing my property. Please assist
Company Response:
State: IL
Zip: 60619
Submitted Via: Web
Date Sent: 2015-06-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-17
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: There has been a breach of confidentiality with the XXXX " Ocwen Loan Servicing ". This company that collects money, has people in XXXX who know nothing about fianancing banking, or customer service. Documents were received at my home yesterday that ARE CONFIDENTIAL and were in an unsealed envelope. The documents inside the envelope WERE VIEWED. I am trying very hard to get rid of this company and refiancebut that is impossible because the data and the many mortgage servicers that handled this loan IS IN COMPLETE DISSARAY. Also Ocwen needs to stop sendin me certified mail to my home. I am not home to receive this information, work long hours during the week and do not have time to visit the post office to pick up their XXXX. Bottom line this organization needs to be shut down, sued with a major law suit.
Company Response:
State: NY
Zip: 109XX
Submitted Via: Web
Date Sent: 2015-06-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-06-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: We submitted our packet to Ocwen via XXXX XXXX XXXX XXXX XXXX XXXX on XXXX/XXXX/2015. They asked for additional documentation on XXXX/XXXX/2015. We provided requested documents on XXXX/XXXX/2015. As of XXXX/XXXX/2015, Ocwen is showing a complete financial package. Our housing counselor, XXXX XXXX with XXXX XXXX, has been in communication with Ocwen in regards to our file. In XXXX 2015, we became concerned because we were past XXXX days and still had no decision. We were told that we were waiting for a response from our investor, XXXX XXXX, and that it can sometimes take up to XXXX days for a decision. XXXX kept up contact every XXXX business days with Ocwen. As of XXXX/XXXX/2015, our last communication with Ocwen, we are still pending a decision. Our complaint is in the fact that it has been XXXX weeks, and we still have no decision. We have also submitted an escalation XXXX XXXX XXXX.
Company Response:
State: OR
Zip: 974XX
Submitted Via: Web
Date Sent: 2015-06-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Ocwen Loan ServicingRE : XXXX and XXXX XXXX - Loan Number XXXX have some serious concerns about my relationship with Ocwen. Firstly, I feel that Ocwen transferred my loan " erroneously '' to XXXX because I submitted paperwork requesting a XXXX Loan Modification ( underwater ), which I clearly am eligible for. I submitted my application via email on XX/XX/XXXX to XXXXXXXXXXXX. I received a call from XXXX XXXX on XXXX XXXX indicating I was missing Section XXXX and Section XXXX, so I submitted these forms via email on XXXX XXXX to XXXX XXXX at XXXXXXXXXXXX. I received another call on XXXX XXXX from XXXX XXXX indicating I needed to REsubmit the XXXX form. So that very same day I REsubmitted the form via email to XXXXXXXXXXXX with her attention. Secondly, It was n't until my scheduled call with a relationship manager on XXXX XXXX that I inquired about the status of my loan modification that I was informed " My application would not be reviewed further because my loan was actually being transferred to XXXX effective XX/XX/XXXX. '' I felt this was a sneaky way of Ocwen dodging my loan modification request. Thirdly, since I 'm on the equity accelerator program, I contacted them to make sure that my monthly payments would now be sent to XXXX, which they did, and my XXXX XXXX mortgage payment was debited from my checking account and sent to XXXX. Then, a few days later I received a letter from Ocwen indicating that my mortgage was transferred by " mistake '' and they are STILL my mortgage lender ( again, sneaky move. ) So I contacted the Equity Accelerator program to let them know that Ocwen is STILL my lender. XXXX has advised they transferred my XXXX XXXX payment to Ocwen and Ocwen has YET to apply these funds to my account as of today, XXXX XXXX. Fourthly, back to my loan modification, on Monday, XXXX XXXX, I spoke with an Ocwen representative who advised that my application was denied on XXXX XXXX " because they feel that I am not in a financial bind and could continue to afford my monthly payments. '' I reminded him " The last documentation I emailed to Ocwen at THEIR request was on XXXX XXXX, so how can they decide in XXXX days ( XXXX XXXX ) that I 'm not eligible? They are STILL engaging in unfair and deceptive practices and I 'm filing a formal complaint with CFPB. '' As such, I never received a written notice of this conclusion, in fact as of today ; their website indicates that " my request is in review. '' I 'm getting extremely frustrated with Ocwen, especially regarding my loan modification request because Ocwen was sued for this very same practice back in XX/XX/XXXX!!!!! I had a scheduled telephone appointment today at XXXX EST and I read this letter of complaint/concern to my relationship manager. I am also going to file a complaint with the Consumer Financial Protection Bureau ( CFPB ) regarding my loan modification and my XXXX XXXX payment still not being applied to my account, because XXXX continues to engage in these practices : Failing to timely and accurately apply payments made by borrowers ; Failing to properly calculate borrowers ' eligibility for loan modification programs and improperly denying loan modification relief to eligible borrowers ; failing to properly process borrowers ' applications for loan modifications, including failing to account for documents submitted by borrowers and failing to respond to borrowers ' reasonable requests for information and assistance, and as a result, denying loan modifications to consumers who were eligible ; Providing false or misleading reasons for denial of loan modifications ; All of this constitutes unfair or deceptive practices which is in violation of Sections 1031 ( a ) and 1036 of the CFPA, 12 USC violation of the consumer protection laws in my state. Sincerely, XXXX XXXX, XXXX XXXX XXXX, XXXX, NJ XXXX
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2015-06-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: In XX/XX/XXXX I lost my job. We continued to make our house payment until our savings ran out, while I desperately searched for a job. We went to our lender for help but could not get any. When a trustee sale was posted for XX/XX/XXXX we hired the XXXX XXXX XXXX to assist us in trying to get a loan modification. Both my husband and I are now working full time and we have very good income. The XXXX XXXX XXXX submitted the loan modification package on XX/XX/XXXX and the sale was postponed and placed on hold. On XX/XX/XXXX Ocwen denied our loan modification request stating that we did not make enough money to qualify. Ocwen calculated our income incorrectly at {$11000.00} a month. Our actual income is {$13000.00} a month. The denial letter also stated that the owner of our loan, XXXX XXXX, would not do any principal reductions. The XXXX XXXX XXXX appealed the denial in a letter that was sent to Ocwen on XX/XX/XXXX. In the appeal letter they disputed the income and also attached a copy of a loan modification they had received for another client with the same owner, XXXX XXXX, that offered a principal reduction. On XX/XX/XXXX Ocwen denied the appeal and stuck by their original reason for denial. The letter also stated that the only way that they could do the modification is if we could qualify for a payment of {$8200.00}. There were no other details such as rate, term or principal balance. There is no way we can make this payment. Our interest rate is very high at 6 %. Our principal balance is now at {$1000000.00} because of past due payments but the house is only worth {$850000.00}. We do not want to lose our home! Any help would be greatly appreciated.
Company Response:
State: CA
Zip: 94587
Submitted Via: Web
Date Sent: 2015-06-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-06-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have had a foreclosure dismissed last year of XX/XX/2014.It cost {$7500.00} in attorney fees. Ocwen reneged on a XXXX agreement dated XXXX after they cashed my check. I believe they had all documentation and simply failed to process the loan, a case of the left hand not knowing what the right hand was doing. Then post facto they amended requirements. Ocwen claimed there was a problem with signatures for this XXXX. I have always maintained they are liars and cheats-they had the originals. I recently found out what they were accusing me of was falsifying the signature document from my ex husband. In XX/XX/XXXX I faxed a copy of an affadavit to the CFPB from my ex and the original notary for his signature that it was indeed his signature. My lawyer shared this document with Ocwen 's attorney. This should have taken care of the enforcement of the terms of the XXXX. Recently, as requested by Ocwen, I had an independent appraisal done on the rural approximate XXXX acre parcel with the house for which the original mortgage is based, came out to {$100000.00}. Current County Auditor property taxes are based on {$100000.00} to further support that number. Sales offers also support the appraisal. That appraisal was also submitted to Ocwen 's lawyer which they deemed " invalid '' and refused to recalculate a new modification based on that figure. Ocwen claimed the properties it was compared to were to far apart. Not true, I live in a rural farming area and that is physically how the area is laid out with similar sized homes and parcels. I believe Ocwen committed fraud against me ( multiple ways and times ) and are in breach of contract for the XXXX XXXX based on their own lies of the signature page once the affadavit from my ex husband was submitted to them recently. Ocwen never reached out to my ex husband in four years for verification of his signatures EVER. I learned from a housing advocate that was helping me and communicating with Ocwen on my behalf in XXXX of this year, that Ocwen was accusing me of forgery ( Ocwen never outright ever told me or my ex that ). They just said there was a problem with the signature or that it was a copy, never told me how to rectify whatever was wrong. I always maintained they had my ex 's original and my original notarized signatures.They claim they would not honor that XXXX XXXX until I submitted a new appraisal. I did. They do n't like it. They have offered a newer HAMP when I was working with Springboard out of California, a HUD agency and sent it to me AFTER or very close to the date it was to expire. Most recently they offered another HAMP for {$190000.00} and arrears. I disagree with this principal loan amount of their latest modification and it needs to be modified to the current appraisal. On XX/XX/XXXX, I received XXXX letters from Ocwen, XXXX were certified. XXXX was stating that I am behind, another that I am in preforeclosure, and another advising me of alternatives to foreclosure and foreclosure scams. I have tried repeatedly to work with Ocwen, countering their offers that push my already underwater mortgage further underwater, I will never be able to refinance with a local bank that services their own mortgages with a house and XXXX acres that is simply not worth what it is currently mortgaged for. No legitimate financial institution would do that. Ocwen needs to make this right, but it seems that they can not rid themselves of a culture of lies and deception, not only to the consumer but to their investors as well. They continue to make each and everyday an " OCWEN GROUND HOG day for every consumer they deal with. Need back on a level playing field by forcing them to do the ethical/legal thing without incurring $ XXXX in legal fees. Do n't have that kind of money and they use that to wear people down. It would be cheaper for both parties if Ocwen just went with the facts and appraisal.
Company Response:
State: OH
Zip: 430XX
Submitted Via: Web
Date Sent: 2015-06-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes