Ocwen

It seems I agree with the other reviews here. So far awful service and they sold my loan to another company without informing me so now I have late fees to pay (first missed payment in my life). Thanks Ocwen for being the worst loan servicing company I have had the displeasure of dealing with.

Let us suppose that you’re a lucky guy, life is excellent, and you pay off your home loan. Let us further suppose you receive a nice letter from Ocwen congratulating you on paying your loan in full, you confirm on the Ocwen website that the loan is paid in full, and when you call Ocwen, the CSR and the automated phone system all agree that the loan is paid in full.
Would you be surprised if, seven weeks later, you receive a bill from Ocwen for additional money along with a threat to refuse to release the lien if you don’t pay up? Would you be irritated if you called Ocwen to ask where they came up with the oddly specific amount they have in mind and the person you speak with cannot explain what the mysterious charge is for?
Would you be happy that your wife spent many years working at a law school and literally knows more lawyers than you can count?
If such a scenario happened to me, the answers would be yes, hell yes, and I think so, because even though it’s a small amount of money, it’s totally worth it since it’s remarkable that a company this scummy could construct a building that didn’t collapse in on itself in a slimy heap of scummy, slimy nastiness. If you have any influence over where your loan winds up (I didn’t), avoid these knuckleheads. I’m not saying they’re entirely composed of evil individuals who have a moral duty to quit their jobs and literally do anything else if there’s any shred of decency left in what my neighbors assure me are their souls. I’m just saying they should think about it.
Oh, and they also once withdrew double the amount they were supposed to from my account and took a good week to refund the money. No big deal, right? Who can’t afford to have their house payment double without warning one day?

Yep… Ocwen sucks. Just google «Ocwen complaints» and you’ll see. Completely incompetent and most likely intentionally fraudulent.
I just received notice of an escrow shortage of $ 3750! But they’ll happily break it up into 60 payments added to my mortgage payment. I knew it had to be a mistake, so just spent the last 4 hrs deciphering their pathetic escrow reports they sent me.
I finally figured out they deducted my property tax payment twice for 2013. They also entered the wrong numbers for several of my escrow payments, so they came up with an amount that falls short of the «cushion» they require.
That’s 2 huge mistakes! Tomorrow I get the lovely chore of trying to explain the problem to their outsourced, quasi-​English-​speaking service reps. From what I read from others, it won’t go well.

Ocwen Loan Servicing, LLC amounts to a fraudulent lending institution that participates in discriminatory practices in refusing to help borrowers who seek a loan modification to try to save their home from an unscrupulous bank that would rather ruin a borrower’s life and credit rating, than to help them with a more reasonable interest rate that would make their home payment more affordable and save the home from foreclosure. I think the US Dept of Justice and the Attorney General’s office would find these discriminatory and unscrupulous practices a clear violation of the law and I feel compelled to file a complaint. Niels Winther, Simi Valley, CA.

Ocwen demanded escrow shortage payment, or they would raise the monthly payment. I paid the shortage in full. The payment went up regardless. I e-​mailed them for an explanation, why the payment went up, despite the shortage being paid — no answer. They, however, don’t forget to send us two dollar checks, with tiny print disclaimer, that cashing such a check is an agreement to some most likely fraudulent «service» to the tune of sixty bucks/​month conveniently added to our monthly payment. WTF?
After reading horror stories online about said Ocwen, we consider refinancing with more honest financial institution.