I am reporting Ocwen for not having good business practices and having me sign a document fraudulently. We have owned our house for just under three years and have had nothing but problems with Ocwen. We have escrow included in our mortgage payment every month. We were actually paying extra when we first got the loan to try and make our principle go down quicker. Unfortunately Ocwen did not apply the additional to the principle but instead applied it wherever they wanted. Our Home Owner's Insurance went up after a big storm so they raised our escrow...we paid more each month to cover this. However we get a letter saying that our escrow is short. We end up paying extra to make sure that it is brought current and everything seems fine. In January of this year we get a letter stating that we are being offered a modification to our loan to cover a shortage in our escrow of $900.00. We are concerned and call them and ask how this is possible. We were advised that it was possible because our taxes went up...ok so our options are...sign the modification or send them and extra $900.00

The problem that I have is that I work for a mortgage company and have dealt with modifications before. The agreement they sent us was date 1/13/09 and was received on 1/23/09. We had until 1/28/09 to return the signed document agreeing to the modification of lowering our interest rate a little and lowering the payment a little to make up the difference in the escrow over the next three years. My concern was that the modification was to go into affect on 1/1/09 but I received the document on 1/23/09 and had already made my January payment more than what was stated in the modification agreement. I called and advised them that their agreement was not correct in that I could not sign something agreeing to something in the past as that would mean I had already breached the agreement by making a different payment amount than I should have. I advised that the agreement should be effective 2/1/09 and not 1/1/09. They advised that they had sent out a bunch of these letters and that I was the first person to voice concern. They advised that they would correct it and send me a new document...Remember it is in Ocwen's best interest to do this because they can earn a higher interest for the Month of January by correcting the document.

The other issue with the document was that it said my payment amount would only be $xx.xx (the principle and interest portion only with no escrow included.) It did not reference what my total payment each month should be including principle, interest, and ESCROW. Therefore I could send in my payment and still be behind if I was not aware of this since it was not spelled out in the letter. Luckily from my work experience I knew this amount could not be correct and continued to send the amount I had been paying for the past three years.

I never received the document of course. I called back on January 28th and advised them that I was concerned that it had to be returned that day and that I hadn't go the corrected on after being promised it for 5 days. They advised they could not correct it because once a modification is offered it can not be offered again or modified in any way, which I know is false because the company I work for does this all the time for people to actually work with them.

They advised that my only option was to either sign the document or send them the $900.00 and continue to pay the higher interest rate. I decided to sign the document, even though I legally should not have. I had the document notarized showing the date that it was signed and also sent a letter to them again voicing my concerns of the document that they were forcing me to sign fraudulently since I had no other option and no time for an attorney to get involved.

Of course I have heard nothing in regards to my concerns voiced in the letter. We are hoping to be able to refinance with a different company soon to be able to not have to deal with Ocwen ever again.

I am writing to agree with all OCWEN customers that have had HORRID experiences with them. Got my mortgage in 2005, which it was a refinance and everything was okay, until job was lost and had to go into forebearance agreement. Payment was increased from 1152.00 per month to 1340.00 per month. Then I went back to work and there was a layoff and had to do another forebearance agreement for a year, where it increased my payment to 1504.00 per month and to let you know the loan adjusted after 2 years in 2007 and this is when everything started bottoming out. Originally started out with loan that was 170, 000. Now they are saying that I owe 185, 000. which includes they say 15, 000.00 which is said to be unpaid principal balance. I had recently lost my job and I applied for a modification. My balance is still the same, but I had to make 2 payments for April and May on the 1st or before and then they would modify it to 1243.00, but again the amount owed will go up again. I am looking to join the Class Action suit and have been notified by a person who is doing it, but I need to join in, at least to try to recoup some of the money they have taken. If you notice on your statements, which I have kept all of mine, they move the money around and you don't know where it goes. I will not let them escrow my insurance, because they didn't pay it for a year and I didn't even get a notice. They are nothing, but FRAUDULENT AND LIARS and have a deceptive practice.

Ocwen Financial Corporation
William C. Erbey
(561) 682-8520
[email protected]

PRESIDENT PHONE NUMBER

My daughter is deaf so I handle the mess with Ocwen for her as relay would never put up with their unintelligible language. They are second mortg with 11 plus interest rate

Her first mortgage Indy Mac did a modification after she lost second job and finances changed BUT all Ocwen does is harrass and promise They say they haven't received financials then makes mistake and tell me something they would only know if received then oops sorry I do see where we received. But according to their calculations she should be able pay extra $200 monthly Her expenses are higher than income so don't know what program they have in their system.

They call several times weekly asking same info Nothing ever happens except they add more fees and something they call drive by inspections fees to be sure property not vacant! Where would she go single with 2 kids...paymt over $1300 mortgage monthly.

I too have been ripped off by Ocwen. There is a law firm in California that is filing a class action lawsuit. It is IMPERATIVE that our voices are heard!

Maybe if we ALL write to them they can do something. We are about to lose our home due to Ocwen's unfair practices. In addition, the notice of foreclosure has a Cal-Western Reconveyance Corporation as Substitute Trustee, which is a holding company of Ocwens! Ocwen is ONLY a loan servicing corporation, and does NOT hold the promissory note of our loan! DB home Lending does.