Date Received: 2015-05-14
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I 'm starting to think that OCWEN is nothing more than a Ponzi scheme ( a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks. ) set up by large banks to transfer their loans without permission of the mortgagee to a group of so-called mortgage investment individuals who are supposed to help you qualify for a number of loan modifications. The ignorance of every XXXX of the employees at Ocwen goes beyond stupid. It is now XXXX months short of XXXX years that I 've tried over and over to modify my house loan. I was retired without benefits, i.e., retirement compensation from a XXXX after 30 years of employment after the death of the owner, operated, XXXX, XXXX, of a very successful company. Since my income has gone from XXXX figures to a small XXXX income I would think I would qualify for at least XXXX loan modification. Particularly because my home is under water. The incompetency of the mortgage loan officers, i.e., loosing paperwork XXXX and XXXX times because they ca n't find it on their desk or in their computers is beyond the word irresponsible. After working with the same loan officer for 18 months he never seems to remember who I am during our monthly phone conversations. I 'm trying to lower my payments not increase them. Every single offer I 've received have increased the payment now standing by {$50.00} to {$100.00} dollars a month and Ocwen will not write the modification unless I agree to 10 more years on my loan making it 40 years instead of 30 years. As of today since I 've not agreed to their new terms - they have turned me over to an attorney to start foreclosure on my home.
Company Response:
State: CA
Zip: 923XX
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Ocwen Mortgage Co. states they NEVER RECEIVED XXXX ,2014 from me. I send in documentation Showing XXXX,2014 Mtg paid through my Bill Pay account. See attach. XXXX,2014 Mtg paid Ocwen ACH Account ( XXXX 2014 ) XXXX payment came through, the XXXX payment was paid ( over-draft Protection ) the next XXXX ( XXXX ) were returned INSUFFICIENT FUNDS. Please see letter from the Bank Manager. XXXX,2014 was told to submit proof of all payments to XXXX XXXX. I submitted everthing. I asked Ocwen rep. to waiver fee and I told they could not do that. So XXXX2014 I sent my mortgage in ( XXXX ) with the fees {$40.00} XXXX for NSF {$40.00} for stop payment and {$34.00} on the principal. XXXX XXXX dated XXXX/XXXX/14 States XXXX delinquent, XXXX current, XXXX, delinquent XXXX is Current HOW?? I am currently in Chapter XXXX Bankruptcy.I am also in Ocwen modification, IT YOU PAY XXXX YEARS ON TIME THEY TAKE {$6200.00} OFF OF THE PRINCIPAL. THEY DID NOT GIVE IT TO ME FOR 2014. PLEASE SEE ALL OF MY DOCUMENTATION SHOWING I HAVE NEVER BEING LATE.
Company Response:
State: DE
Zip: 19720
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: On XX/XX/XXXX we received a letter from Ocwen Loan Servicing , LLC that we had missed a mortgage payment in XX/XX/XXXX. We immediately call them, spoke with XXXX # XXXX and told her that Ocwen cashed our check, electronically, on XX/XX/XXXX and emailed Ocwen a copy of the bank transaction, along with a copy of our bank statement showing the transaction. She said they would contact us in 15 business days. We have always paid our mortgage payment, even though we had to file bankruptcy in XX/XX/XXXX. Our lawyer at that time filed a " reaffirmation '' with Ocwen. On XX/XX/XXXX we received a letter and all types of forms advising that our loan is " in default '' and that we must select a method to bring this account current. It is obvious that Ocwen lacks communications and coordination between their internal departments. This latest letter borders on harasment. They cashed our check and have lost the monies that should be applied to our principle, interest, and escrow accounts. This is basically fraud and theft.
Company Response:
State: WI
Zip: 530XX
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: To Whom It May Concern : My father is XXXX since XX/XX/XXXX and lives on a very low monthly budget. I was going through some of his mortgage papers to see if we could get help with his mortgage and found out that he has an XXXX mortgage on his home for repairs through a company called XXXX XXXX who give out bad loans to consumers with no knowledge of the mortgage industry, and I know that my father would not had no idea of what he was signing and the company could not have told him that he was signing a loan that when he make a payment nothing goes towards the principle. This company, XXXX XXXX has been known for violating mortgage underwriting practices just to close bad loans that cost taxpayers millions of dollars and hurt neighborhoods when the houses go into foreclosure. Although they are an FHA lender the loan in question should n't have been approved. Now my father has a {$32000.00} loan that he has had since XX/XX/XXXX, and here it is XX/XX/XXXX and he still owe {$32000.00}, and it has been sold several times to other companies like Ocwen Mortgage who has multiple law suits in XX/XX/XXXX and have lost cases due to robot signing or missing assignments coupled with an inability to produce escrow and settlement statements demonstrates a deliberate concealment of the ownership of the borrower 's mortgage debt obligation and the actual lender to whom the borrower is indebted. Lack of the original note, failure to timely and accurately apply payments made by borrowers, charging borrowers unauthorized fees, providing false or misleading information make us believe that these companies are taking elderly people for their low budget and finance problems. State financial regulators, state attorneys general, and the CFPB uncovered substantial evidence that Ocwen violated state laws and the Dodd-Frank Act. We need help and my father does n't recall getting any papers that he could file a claim against either company. Please help us keep my father in his house. Thank you so much for all your help.
Company Response:
State: NC
Zip: 28112
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I was charged an incorrect amount of interest by Ocwen when I paid off my mortgage. They received my loan payoff and did n't credit it to my account because they said it was n't the right amount.
Company Response:
State: CA
Zip: 94619
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-05-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Our loan was in good standing until it got transferred or sold to Ocwen. It has been nothing but a struggle with them for the last year in a half. They dont take payments and then when I call to get the issue resolved i struggled with people overseas that didnt care. They would tell me that I would have to enter a repayment plan and have to put a huge down payment down and i would and then i would make a payment and they wouldnt take the payment and then i would go through the whole process again, but then they would not take payment again and now the loan is XXXX months past due and im at my last wit ends with them. I need help, this company needs to be shut down.
Company Response:
State: MN
Zip: 553XX
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I had an FHA mortgage that was paid in full on XX/XX/XXXX with Ocwen Loan Servicing. In the payoff quote to the title company, Ocwen Loan Servicing included a full month of interest for XX/XX/XXXX when the loan was paid in full on XXXX XXXX. I waited patiently for over a month for a refund of both my extra month Mortgage Insurance premium, the escrow account funds, and the extra month of interest that was paid @ closing. I also had not received a notice that the mortgage was paid in full, but Ocwen received the funds on XXXX XXXX per my Title company. On XX/XX/XXXX I called to inquire and was told that it would go for research and it would take 2 weeks. A few days later I received a notice giving a breakdown of the escrow account and was told the Mortgage Ins. premium had to be paid for a full month because it was an " agency loan '' and it 's not prorated and a check for the net escrow account was included. I waited the full 2 weeks before calling again on XXXX XXXX about the extra mortgage interest that they collected @ closing for 28 days more than was needed. Again, I was told it was an agency loan and that 's just how it was. I asked for the call to be escalated to management and it was and I was told by the escalation dept. that they would research and contact me in about 2 weeks. I waited 3 weeks and heard nothing so I called again today, XXXX XXXX and was told that there was no refund coming. I informed them of the HUD notice XXXX released XX/XX/XXXX by HUD stating that FHA announced that borrowers who prepay their FHA-insured mortgages will NOT have to make interest payments beyond the date their mortgage is paid in full. FHA 's rule applies for FHA -insured mortgages closed on or after XX/XX/XXXX. This rule explicitly prohibits lenders from charging borrower post settlement interest, which is broadly defined as a " prepayment penalty '' by the Consumer Financial Protection Bureau., for all FHA Single Family mortgage products and programs. I gave the Ocwen the HUD notice number and read the above notice and told them as Lenders they are required to keep abreast of changes that affect their industry. I 'm sure thousands of FHA mortgages paid this year with Ocwen have had the extra interest collected against this policy. I was asked to write a complaint letter and attach the supporting evidence. I told Ocwen that they should have a supervisor check into the new HUD guideline and refund my overpayment of interest in the amount of {$400.00} + interest to me as soon as possible, and that a complaint with the CFPB would be made. This is a rip off of mass proportion as it 's been going on for 5 months so far on the thousands of FHA mortgages they 've done payoffs for this year and continue to incorrectly quote payoff figures.
Company Response:
State: WA
Zip: 98686
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-14
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I was approved for a loan modification last year XXXX. Made all the payments on time during the trial period. I Mailed the signed contract in XXXX XXXX with the envelope they provided. In XXXX they contacted me and said they never received the contract. I faxed and emailed signed contract over to them for a second time. They complained about my signature is not matching and changes to the contract. So I faxed it over again, 2 times in XXXX XXXX, New contract with new signatures and dates. They are now claiming that I do n't qualify for the modification because I did n't turn the paperwork in on time. However of until just a week or so ago it was showing them still available on the electronic on my account. Why would I make the payments and not turn the paperwork in? Why would they Continually contact me about the " missing '' paperwork if they were n't gon na let me qualify for the modification? Now they are threatening foreclosure again.
Company Response:
State: NC
Zip: 27263
Submitted Via: Web
Date Sent: 2015-05-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-05-13
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I am Looking to file a formal complaint against Ocwen bank. All documents requested by Ocwen were submitted several times with conformation of acceptance. They have been using several stalling tactics with both payments ( Public Adjuster Fees / Rebuild monies ). They continue to give different answers and lie with every phone call made. The final inspection has been preformed and completed successfully at this date. Now again, they are asking for further documents that had been sent several times in order to issue payment for both the Public Adjuster / Contractor and homeowner. We are now left with no where else to go besides making a formal complaint against Ocwen. The repairs have been completed for XXXX month without any disbursement. As a consumer I would stay far away from this company, considering my current situation and stories I have heard about how they treat their customers.
Company Response:
State: NY
Zip: 11725
Submitted Via: Web
Date Sent: 2015-05-13
Company Response to Consumer: Closed
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-05-13
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: In XXXX of XX/XX/2006, I got approved on a mortgage through American Home Mortgage for a home in XXXX XXXX with a purchase price of {$480000.00}. I was only making {$63000.00} per year and I had child support of {$670.00} per month. My loan officer told me there was a new loan out called a XXXX payment option loan. My fianc, at the time ( now my wife ) was suppose to be getting 60 % of the equity in a home her and her XXXX owned together, once the home sold. My loan officer told me to buy down the pre-payment penalty on the loan, so that once my wife got her money I could refinance the loan into a fixed rate. As things turned out, my Wife 's Ex-Husband ended up having the home foreclosed on and my Wife never got a XXXX from her divorce settlement. Needless to say, someone who makes {$63000.00} per year with child support can not qualify for a home that is {$480000.00}. I should have never been approved for my home. Therefore, I feel I have a strong case of " predatory lending ''. All my loan officer and the loan company were interested in was closing the loan. The full principal and interest payment on the loan was about {$3400.00} per month. I could n't even afford the minimum payment on this loan ; therefore. I came close to losing the property. My wife was trying to work things out with the mortgage company and they said they were going to help us and then turned around and put an ad in the local paper, saying they were going to auction our home off on the courthouse steps. Fortunately, XXXX of my neighbors saw the ad and stopped in to tell me about it. At that point, we got HOPE involved and they forced the mortgage company to help us. The mortgage company restructured my loan, so I would not lose my house, by giving me an adjustable rate starting at 2 % for 6 years at the amount I should have qualified for in the XXXX place and then they took all the extra money they overqualified me for and put it on what 's called the " backside '' of the loan at 0 % interest. They said I only had to make payments on the XXXX half of the loan and this " backside '' is like a balloon payment that would be due whenever I sold the house. This is not a fix. In fact, I just recently got my tax assessment from the XXXX of XXXX and my home is worth {$330000.00} and the mortgage company says I owe about {$500000.00}. My wife and I plan to make our home in XXXX. Therefore, I am being forced to be a landlord, as there is no light at the end of the tunnel. I feel I have a strong case of " predatory lending '', as all my loan officer and American Home Mortgage were interested in was closing my loan, so they could all make money. They did n't think about how all of this would effect me or my wife. An attorney advised my wife and I to walk away from our home and claim bankruptcy but we are good people and we did not want our credit ruined. We have over {$150000.00} in the home ( original down payment, money it cost to save the home & home improvements ), not to mention all the mortgage payments we have paid over the last 9 years. This is a very negative situation for us, that has caused lots of stress in our lives. It has even effected our health. My wife recently talked to the bank and they said they could offer us a deed in lieu of foreclosure or a " short sale ''. These are not options, as they would both mean that we would walk away with nothing and our credit would be ruined. We need the mortgage company to forgive the " backside '' of the loan completely, so we can sell the home and get some of our money back. This is all the money we have in the world. We 'd appreciate your help on this. Please make the bank accountable for their actions and make them forgive the " backside '' of the loan, so we can sell the home and walk away with some of our money and decent credit for our future.
Company Response:
State: FL
Zip: 32606
Submitted Via: Web
Date Sent: 2015-05-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No