1) Ocwen withdrew money on autopay, and then reported account delinquent for months. Damaged credit, started collection behaviors. Obnoxious and expensive.
2) Ocwen reported account delinquent, yet simultaneously reported never late. Denied making the report to credit agencies. Refused to fix. When complaint made to credit agencies, they claimed they were reporting correctly, so credit agency would not do anything. Took 2 1/2 years and multiple credit report consumer statements on all 6 of our 2 individual credit reports to get the word delinquent removed. Doing business with Ocwen cost us over 250 points on our credit scores; without ever missing a payment. We now have credit scores below people with bankruptcies. This in turn has caused all of our credit lines to be truncated, all of our insurance rates to be jacked up, and all of our variable rate credit cards to have massive increases in our interest rates. Even the fixed rate cards have had huge rate increases. Currently initiating lawsuit for the $30, 000 in excess interest and insurance costs thus far.
3) Ocwen refers you to a different department every time you call. They waste hours of your time, and refuse to ever acknowledge anything they say with a written or faxed answer. Several times, I have caught them in direct lies.
Wasting your time until you give up seems to be the main purpose. Faxes go to the bit bucket.
4) Ocwen refuses to acknowledge that the property is owned by an LLC. Consequently, they will not sign the insurance check to fix the roof. I am definitely not stupid enough to fix the roof without them signing first. Currently initiating a lawsuit to make them pay for the roof.
5) I cannot refinance the building because I have bad credit because Ocwen lied to the credit agencies. See #2.
6) I cannot sell the building because it is upside down. Ocwen has promised to go after me personally after short sales.
7) Ocwen is reported on the web to have worked out a sweet heart deal with federal regulators to be reimbursed by the taxpayers for more than their losses if they screw someone out of building so bad that they have to do a short sale. Is all the above intentional?
8) Do not ever complete a loan with Ocwen. If they buy your loan, offer them a deal: either they immediately sell your loan again, or you will never pay them a dime. You will have less damage to your credit by a foreclosure than by doing business with Ocwen.