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Bank of America sold my loan to Ocwen, now I am concerned that I will not get a straight answer from Ocwen about my account. I have called 3 times and I get the same statement- We do not have your loan information at this time and it will take 3 business days to get the information that was 2 weeks ago...

So now what do I do?

hurry up and wait for them until the first payment to Ocwen is past due?

I am worried that my escrow information is going to get all screwed up and my insurance and taxes will not be paid. This is a nightmare- I had no love for BOA but at least I understood what the customer service representative was saying!

Location: Orange Beach, Alabama

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Guest

Unfortunately, I feel writing this complaint will do little more than fuel all our fury and certainly not resolve anyone's issues, but here goes anyway. (I wish it would reach people who try to open home loans with OCWEN, but I would be surprised how few of those there really are--It seems most of us with OCWEN SRVC were acquired by them from other loan servicing companies and not the result of direct applications)

My problem (which has caused significant damage) is the result of incorrect credit reporting--they are reporting this loan as Bankrupt and Discharged.

It is not and the payments have all been paid on time and even money toward principle.

Although this is a problem (and a damaging one) the real issue has been trying to communicate with these people. EVERY SINGLE TIME they give me the phone number (and transfer me to the department which is supposed to help) and EVERY SINGLE TIME I end up back at the main menu to start the process all over again. YOU CAN NOT get a phone number to get you to ANYONE who can do anything to resolve your issue. Even all the phone numbers that have been placed by other consumers will get you to voice mail boxes (which also give you phone numbers that will lead to the main menu; THE USELESS MAIN MENU.

I have never dealt with such an incompetent company in all of my nearly 50 years of life.

Unfortunately, it seems very deliberate. I'm not sure of their motive (unless it is to force people into bad loan status and recieve some kind of tax break or profit loss......????????????) It seems it must be deliberate. I don't think any company could sincerely be this defunct by accident.

Once again, I think this only compounds our fury, but if there is anyone at all reading this complaint that is considering doing business with OCWEN, FOR YOUR SANITY and Financial sake PLEASE, PLEASE take the warning very seriously and go ELSEWHERE for your financial needs/mortgage etc.

Guest

How i got my loan

Hello Everybody:

I am Braba Brown a resident/citizen of the United Kingdom.

I am 52 years of age and an entrepreneur/businesswoman. I once had

Difficulties in financing my project/business initially when I started

And a good friend of mine introduced me to Mr Phua Ahmed who is a Business mogul/financier to get a loan from his company. When I Contacted them it took just 24 hours to get my loan approved and

Transfer to my account after meeting all their modalities as set forth in Their loan agreement/terms and conditions.

If you need urgent financial assistance you can contact them today via

This email address:phuaahmed12@***.com.sg

Name: Mr Phua Ahmed

E-mail : phuaahmed12@***.com.sg

Guest

Ocwen also bought our loan from BoA. They have been horrible with communications. We receive letters that have been back dated (10+ days) and their notices have been ALWAYS late. BoA sent us a transfer notice a month early that stated that the loan was being taken over by Ocwen and that Ocwen was also supposed to send us notice within 15 days after the official transfer date. It took them a month to send the notice and over 1 1/2 months for them to send us the first payment coupon (over a month after the first payment was due). Shortly after that I noticed that our PMI payment tripled (Private Mort Ins = the insurance that backs the loan against default if you have less than 80% equity); which is definitely wrong since the PMI is established at the closing of the loan. They even did an Escrow Analysis based on the bad PMI figure which doubled our escrow payment. Which is the craziest thing because monthly PMI on a 250K home shouldn't go over $150 a month. Trying to explain the difference between Private Mort Insurance and Homeowners Insurance to customer service brings more grey hairs--but after getting the run around India :upset, I was told that I would have to fax in proof that their figure was wrong. Fortunately, when the x-fer was first made, I downloaded all of the documents BoA had online and was able to get account statements and loan docs showing what the escrow and PMI break-down was. I just faxed it over yesterday so I don't know if they are going to try to fix it now or try to make me run around India some more. We hate this company with a passion and I hope we won't have to deal with them for too long.

Anywho, Fred (from Decatur, GA) check your escrow statement to make sure that Ocwen did not change your PMI.

If they did increase the PMI, get the old figure from a previous servicer statement or from your Tax Form 1098 under Private Mortage Insurance total--divide the total by 12 months to find out your monthly PMI.

Guest

Our loan was also sold from BoA. I also can't get a straight answer from Ocwen. From what I have read online we have a scary and stress-filled road ahead.

Guest

I get the same run around as anonymous. Getting any coustomer service out of these people is going to take an act of congress. With the way congress is these days, well you get my drift.

Guest

I too was sent to them by B of A. They are claiming that I have no insurance.

Yet, the policy information has been sent 4 freakin times.

Have fun :cry

Guest

Bank of America sold my mortgage to ocwen. I got a letter with the new info on this company I have never heard of.

(ocwen) they are trying to charge me some servicing fees of $2134 on top of my mortgage payment. I'm so mad so I called the company's number and it says it's a collection agency. WHAT IS GOING ON??? First I couldnt understand a thing they were saying.

Second, they didn't know the details of the fees but they said I was to pay them before the 16 of this month or else I was getting a late fee because it was added on this month payment. I had this loan for over 6 years and it has being sold twice, to countrywide then bank of America and I had never had to pay any servicing fees before.

If those companies transfer their mortgages why we, the customers have to pay for their doing when we were not told of such thing and on top of it we have to pay for it. They don't know they are ruin peoples lives here.

Guest

B of A stuck it to me too. I have had them since they took over Countrywide. I think I will get another bank to refi for me.

:(

Guest

I am starting to worry about Ocwen myself. My loan servicing was just sold to them.

The letter I got from my previous loan serving company said that the automatic withdraws will be transfer, but come the first of the month, it was not.

So called them up and set up the automatic withdraw, then they telling me my payment is going up over $300 in August because my escrow has gone up (this would be a 600% increase in the escrow payment, because it is a condo and only pay taxes out of escrow, which are going down because of the value of my property), I asked why and they could not say why because they did not have the information. I wish there was a way to get out and choose your servicing company.

Guest

I have had the same experience, they are a collection company who has no idea how to do customer service....after multiple phone calls I have finally been able to get my Escrow corrected....I was being charged $210.00 for a $1488.00 and no one questioned it. My tax assesment changed affective July 1st...guess what....they have not updated the information for that either.

They also recieved my information on the 26th I had to contact them on the 29th to get my account information where is learn that I am thirty days past due and that they are kind enough to give me grace period 2 months until there records are straight...it is now july 5th and of course the payment is due for current month and i still have not gotten the loan information correct. I have not gottent he welcome kit.

I have not gotten the tax assesment corrected and they gave me an 800 number to fax my tax assesment too and there is no one that I can contact personally to ensure that I am not faxing private information to....I could go on forever. They are terrible and Would love to know how anonymous was able to change to a different company without refinanceing.

Guest

Called last Wednesday and was told to call Friday. Called Friday and told to call Monday.

Called Monday and told to call Tuesday. Called Tuesday and told to call back in 3 days. Thank you B of A for selling my loan to a Better Business Bureau F business.

I was days away from closing and getting a better loan when they sold it to Ocwen.

:(

Guest

JUST WENT TO THE SAME THING WITH BANK OF AMERICA, THEY SOLD US TO OCWEN ALSO. WE HAVE TRIED CALLING OCWEN AND OF COURSE THE CALL CENTER IS IN INDIA.

NO HELP WHATSOEVER. WE ARE MAKING A MOVE AND GOING TO ANOTHER COMPANY.

WE ARE NOT EVEN GOING TO GET INVOLVED WITH THESE PEOPLE. MAYBE YOU SHOULD DO THE SAME IF YOU CAN.

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