Ocwen Federal Bank
Ripoff Added a forced insurance policy to my pay-off even though I sent them proof of insurance

Ever since I got my loan with Ocwen its been a nightmare.
From the start I received letters stating I had no proof of insurance. I would call ask them what they needed, gave them whatever they requested, policy numbers, insurance companies name, and phone number. Then next month I would receive a letter stating they had no record of my insurance provider, so I'd call and go through the same process again. One month I called the insurance company and had them call Ocwen directly, and they gave them everything Ocwen requested... To no avail. Every month the letters came and every month they assurened me everything was taken care of. I also dealt with the same process with just changing my address with them.

I sold the building and Ocwen added a $2,818.93 forced insurance policy onto my pay-off, even though I sent them what ever they requested to prove I had insurance. Another thing is if I didn't have insurance who were they making my escrow payments to??? How can they do this??? I closed this loan December and just received a letter encouraging me to make my payments in a timely manner to avoid a potentially negative impact on my credit report.

I deal with several mortegage companies, but never have I dealt with such deceiving incompetence.

I filed with the BBB andd would recommend all to do the same. There is power in numbers. I would very much love to see this company closed down, and I would gladly become part of a class action against them.

Company: Ocwen Federal Bank
Country: USA
State: Florida
City: West Palm Beach
Address: 1675 Palm Beach Lakes Blvd
Phone: 8007462936

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