Ocwen Federal Bank

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Category: Business & Finances

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United States

ocwen.com

Ocwen Federal Bank Reviews

ccain68 January 11, 2011
force foreclosure..demanding money
our mortage company has raised our mortage and openened a escrow account to pay our taxes when we pay our own taxes...we always have home insurance but they say we dont and they force insurance anyway...we send proof that all is paid but they do nothing
S February 23, 2009
Fraud and scam
My mortgage servicer is Ocwen Loan Servicing. Like others here, my loan is in redemption period and has just ended. Unlike others, I have had the funds for 3 months to pay off Ocwen/ HSBC NA and have been refused payoff letter and payoff amount. Numerous calls to the companies attorney and to Ocwen have come up empty handed. I am looking for individuals in Michigan that are having the same problem. I am fighting this in court as they are now trying to evict us from the home. We are responding with the grounds that we have been trying to payoff the loan thru the redemption period and Ocwen has refused to give us the requested payoff information. Actually Ocwen stated that the house was a REO when we were still in redemption period and told us that we should not even be in the home.

We even had a real estate agent tell us that Ocwen states the home was a REO and he tried to get it straight with them and ended up telling us to move out for 2 weeks and then buy the house back at a discount.

If anyone is having the same problems, please contact me.
November 7, 2008
Awful bank
In 2001 I worked for Ocwen as an REO Sales Manager and it was an utter disaster. I was charged with selling non-performing residential properties in a 9 state assigned territory across the country. In the six months I was there I watched as the company berated loyal employees who fought hard to stabilize the assets, get BPOs, hire brokers, list the properties and sell the assets in a timely fashion. Employees were rewarded with ever changing pay policies, unrealistic attainable goals resulting in no performance bonuses being paid out. I took note that a considerable amount of outsourcing was done to people in India and elsewhere and the company apparently managed both domestic as well as overseas employees to handle the sale of real estate assets. In 6 months I was able to move $2 million of properties at prices averaging 90% of appraised value typically within a 90 day timeframe. My reward was no bonus, a call from HR telling me to come to their office at which time I was terminated for vague reasons. This organization has no business in being charged with the disposition of ANY real estate held by bank-owned but now government held assets. My understanding is that it has gotten worse and the communication within and outside of the organization is terrible.

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