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Updated by user Jan 13, 2015

After Several phone calls and getting a supervisor's supervisor on the phone; After three way calling my insurance company with the supervisor on the phone; after my insurance person repeatedly assuring the supervisor that my insurance covered flood; several attempts to get them to admit they had received one of the multiple faxes that were sent; I still did not have a resolution to the problem. The company was still insisting that my flood coverage was not correct.

In addition to writing this review, I also contacted Consumer Financial Protection Bureau

consumerfinance.gov

(855) 411-CFPB (2372)

This is what seems to have done the trick as I now have a letter from the Office of Consumer Ombudsman whose phone number in the letter is 800-390-****. The money has finally been returned to my escrow account. I believe that without complaining to the government itself and writing this review, I would still be fighting this company. I also know that I have the same issue to look forward to again next year.

I truly, TRULY wish I could get any other company to take over my mortgage.

Unfortunately we have no say in who they sell our mortgage contracts to. That should not be so.

Original review posted by user Nov 26, 2014

Lender flood insurance was purchased for my home, despite the fact that I already have it. I spoke with an insurance supervisor named Andre on October 6th for over an hour resulting in him calling my insurance company and speaking directly to my agent who assured him that I was covered for flood.

I was promised that all was taken care of and there would be no more problems. He even stated that he would notate the account so this would not be repeated yearly. On Nov 20th I opened a letter from Ocwen stating that they have purchased Lender flood insurance for me. The premium has been deducted from my escrow account and is almost the cost of my entire homeowners policy.

I have spent the last two hours on the phone with supervisors trying to get this taken care of. While on the phone with the supervisor Peter, he asked me to hold while he called my insurance company. Ten minutes later, he came back and said he couldn't get in touch with anyone. Finally was told that I needed to send them proof of insurance again.

After I hung up, I called the same number I gave him and spoke to an agent who stated they had not received a call from Ocwen. She faxed the proof of insurance and I am back on the phone with Peter again. It is ridiculous that I have to do this every year. The incompetence of this company is unbelievable.

This paragraph in the letter which accompanied the new insurance in indicative of the company.

"We have incurred expenses in placing this insurance policy.

Such expense are recoverable by us as stated in your loan documents. Part of the policy premium charged to your escrow account may be used by the insurance carrier to reimburse us for these expenses."

Can you say Kickbacks?

Reason of review: Poor customer service.

Monetary Loss: $564.

Preferred solution: Full refund.

Ocwen Cons: Their incompetent customer service.

Location: Covington, Louisiana

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Update number two. As of 2/24/15 I received a letter stating that Ocwen was now going to increase my escrow account payment in order to purchase flood insurance for me next year.

This for an account that ALREADY HAS FLOOD INSURANCE!!!

I will be contacting cfpb again and the office of the omsbudsman. How the *** is this company still in business in the united states???

Jara Kao

After Several phone calls and getting a supervisor's supervisor on the phone; After three-way calling my insurance company with the supervisor on the phone; after my insurance person repeatedly assuring the supervisor that my insurance covered flood; several attempts to get them to admit they had received one of the multiple faxes that were sent; I still did not have a resolution to the problem. The company was still insisting that my flood coverage was not correct.

In addition to writing this review, I also contacted Consumer Financial Protection Bureau

consumerfinance.gov

(855) 411-CFPB (2372)

This is what seems to have done the trick as I now have a letter from the Office of Consumer Ombudsman whose phone number in the letter is 800-390-****. The money has finally been returned to my escrow account. I believe that without complaining to the government itself and writing this review, I would still be fighting this company. I also know that I have the same issue to look forward to again next year.

I truly, TRULY wish I could get any other company to take over my mortgage.

Unfortunately we have no say in who they sell our mortgage contracts to. That should not be so.

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