69 comments

I have experienced MANY of the exact same issues as these other complants against Ocwen. Our loan was sold to Ocwen in March of 2002. At that time, Ocwen right of the bat reported us 30 days late since they had not received the Feburary payment. The February payment was sent to the previous lending company ans Ocwen had not sent notification of where to send payments. It just went from bad to worse, the derrogatory marks on our credit report, the phony forebearance plans, the skyrocketing interest rates, failure to pay insurance and taxes, and it just goes on and on. I would really like to get information on a class action lawsuit against Ocwen. Anyone have any information that may help???

Denise

Idaho

Review about: Class Action Lawsuit.

Review #105088 is a subjective opinion of a user.

PRODUCT OR SERVICE Ocwen Loan
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rkoehl
#811986

Go to the cfpb website

cinjin
Santa Rosa, California, United States #811983

The following is a letter from an individual whose mortgages were transferred to OCWEN LLC.There is even a Facebook page by those who are being stolen from as we speak.

https://www.facebook.com/pages/Ocwen-Loan-Servicing-Rip-Off-Report/291790883473

“OCWEN LLC. acquired my mortgages, and since they have been servicing them, they have deliberately delayed correspondences for the purpose of accruing late fees. Although I have corresponded repeatedly with them and their “research” department, have provided them with evidence of my payments being on time they are still doing it. Now I am sending my payment express mail with confirmation of delivery, and they still sent a late notice.

The customer service representative recommended going through the research department. They are deliberately denying payments are being made even though there is clear evidence that no payment has ever been late. Standard and Poors have them on credit watch for not administering acquisitions thoroughly prior to additional acquisitions. My assertion is that they are probably doing this to most if not all of their acquired customers in order to beef up assets.

I need a legal remedy for the life of these loans. Dealing with them every month for hours just to verify my timely payment is not an option I can live with.”

December 19, 2013 The Consumer Financial Protection Bureau (CFPB) along with authorities in 49 states, and the District of Columbia, entered into...

The allegations of misconduct included unfair shortcuts, unauthorized fees, deception, illegal foreclosures, and other illegal practices.Ocwen will be required to provide $2 billion in loan modification relief to its customers and $125 million in refunds to consumers whose homes were foreclosed.

Ocwen has consented to entry of the Consent Judgment without trial or adjudication and does not admit the allegations of the Complaint.

The District Court must still approve of the settlement.

A copy of the Consent Judgment is available at this link: http://bbb.org/h/m9 .

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Customer
Oceanside, California, United States #761684

Many of you might have forgotten but nor me. Let me share the past history what lead us all to the same ongoing scams with our government and banking industries. I know it knows past tense but those that went through it will never forget it and especially those that lost their hard earn investments.

Both spouse and I combined income was over 120K per year considered at that time the “middle class” folks. We purchased our home December 2004 for 490K with a 1st and 2nd deeds total monthly payments with escrow taxes and insurance $3,900.00. Litton Loan Servicing was our mortgage servicer for both loans. Our home value sky rocket in 2006 to 600K then came the recession late 2007. Our home value rock bottom to 310K in 2008 plus both loans were ready to readjust to a higher interest rate. My spouse got her layoff notice late 2007 and now only one income for the house hold.

Former President Bush was in office. No federal mortgage programs were yet in place for the consumer or banks. The meltdown continued slowly bleeding the middle class investments.

Former Bernard Madoff stock scandal fraud was exposed end of 2008 for allegedly aiding his 17 billion stock fraud scam for years and of course our government agencies never notice it.

The global markets were slowly getting hit affecting real-estate and all other industries including the banking industries. All stocks went from dollars to pennies over night. Many companies’ government and...

While all this above was going on the banks were still collecting high interest rates over 7% executives of the banks making millions and laughing straight to the bank deposits US and Over Seas.

We had no choice filed Chapter 13 for an affordable payment plan which was approved by the trustee. We paid on time for over a year.

During that time with the Chapter 13 plan we were being proactive working with Litton Loan Servicing for months trying to get both 1st and 2nd deeds refinanced to a lower fixed rate and readjust the principles to today’s market value. The Bank continued to collect every month on high interest rates. After going back and forth for a year with Litton Loan Servicing and processing the same paper work, because supposedly either never got it or needed more information, the bank approved and offered us in 2009 to put down cash 19K which was in the rears on the 1st deed with an offer of 2% interest rate for the first 2 years, then 3% interest after the 3rd year and fixed after the 5th year at 4% for 30 years. Mind you this was only for the 1st deed and nothing was modified for the 2nd deed. No principle adjustments were made for both loans, the bank still milking away on high principles and interest rates. A family member loan us the 19K, we agreed to pay it back as time permitted. We came out of the Chapter 13 plan and continued with our new mortgage payments. However, we still were being proactive trying to get the 2nd deed either forgiven, adjust the interest rate or reduce the principle.

President Obama became our president immediately took action stated a relief plan both for the consumer and banks.

A year later Litton Loan Servicing forgave the 2nd deed and sold the loan to Ocwen Loan Servicing.

Two years later with the 1st deed plan and paying it on time and only one income and house value continued to drop, we decided to write another hardship letter to Ocwen bank.

December 2011 Ocwen offered the following. They become a partner investment with us earn 25% of the sale if the home is sold in the future and in return they give us a 2% interest rate for 30 years and reduce the principle to today’s market value of $280K. Our monthly payment back in 2004 was 3,900 now 1,200 per month. We signed the documents.

However, we learned that Litton Loan Servicing forgave the 2nd deed but Ocwen immediately reversed it and tired to put the 2nd back on us which in realty was trying to put us back where we started in 2004. After going back and forth Ocwen finally removed the 2nd deed on November 2013.

The end of this story is don’t give up on hope work hard and battle against the giants because somehow or another there is a light at the end of the tunnel.

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Hadit
Austin, Texas, United States #714305

We lost the roof to a hail storm recently. The insurance company totaled the roof and issued the check payable to us and OCWEN. OCWEN has not released any money to the contractor. Further, there was some related damage for which there was payment in the check for drywall and paint repair. OCWEN will not release that money either. Is this legal?

Additionally, I had heart surgery in January and advised OCWEN that I would be out of work for a while. I am less than two payments behind but get at least one call a day from these people. Today, I was on the phone with them when the second line rang and it was OCWEN again. No one has any authority to assist and insist on reading their script no matter what. They must get paid for how many phone calls are placed and how many scripts are read.

Anyone else dealing with this?

Jaye

My townhouse is worth $70k.I owe over $250k.

I've been denied a modification numerous times. I've had a short sale pending with OCWEN for over a year. Just today OCWEN is denying the short sale and asking for more money from the buyer.

OCWEN is effecting not only my credit score but now more than likely my livelihood.If there is anyone who knows about the OCWEN lawsuit I'm definitely in.

JackWhite
to Jaye #714977

I can help you get a modification. send me an email to mortgageassistance4u@gmail.com

Dazed, hurt and tired
Las Vegas, Nevada, United States #635965

I thought that I was all alone with the dealings I encountered with this terrible, heartless company.We all are singing the same tune and deserve justice!!!!!

We can we do team this can not be fair practice and this evil must be bought to justice..

Desperate and hurt.Please let's rally to make difference for the families in need of housing/mortgage justice.

scubagirl010

I would welcome joining a Class Action suit against Ocwen.Ocwen has misreported my loan to all the credit bureaus causing my score to drop drastically.

Among the misreported information is that my HELOC was a conventional loan, that I was 7 months late when they didn't even have the loan. The list goes on and on.

Speaking to those people is like speaking to a group of sea slugs and even with the proof in my hands and a guarantee from "CORY" that a letter was going to be issued addressing all the misreported information, they have YET to correct the misinformation some "rocket scientist" reported.Let's sue them for everything they are worth and prevent others from falling to their bad business practices.

rkoehl

I would love to enter into a class action lawsuit!

Ray
to rkoehl Wasco, California, United States #635200

I sued OCWEN Loan Servicing LLC, about two years ago and got a modification, that they denied me.I know that OCWEN Bank was shut down some time ago for fraud.

OCWEN Loan Servicing LLC, remaines open today.They are the servicers for Fredie Mac.They are incorpoated in Delaware.Fredie Mac and *** May was delcared incompetent in about 2008 by Bush.

If a law suit was filed one must do it in Federal Court and if Freddie Mac is joined in the suit the US Attorney General would be required to defend against them.Therefore a top Federal Law firm would be required to sue if you got a class Action suit going.You would need to research the top law firms in Washington DC and find one that handles Class Actions in Federal Court

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