We had a loan that was purchased by Ocwen Federal Bank FSB from New Century Mortgage.
We have always paid on time, yet our payments have been held and not processed until after the due date. As though that weren't problem enough, our payments have been misapplied, and late fees have been charged.
We received letters from their attorneys, threatening foreclosure for non-payment. We have been harassed both at home and at work. On the advice of our own attorney, we requested statements of our account that show our payments, both over the phone and in writing, but to this date we have never received a copy of the statement. We mailed our requests via certified mail, so we know they were received. Ocwen representatives called us and wanted permission to adjust the balance on our account to just add on the amount that they showed was unpaid, though the amount showed unpaid because they misapplied the payments. When we denied permission, they threatened to ruin our credit. On another occasion, Ocwen representatives admitted that the mistakes and misapplied payments were their fault; however, the problem is that they haven't been researched and corrected.
To this very day our account remains up in the air. We've written letters that have gone unanswered. We've received form letters from Ocwen that state that they are researching the matter and that they will get back with us on the issue. However, we have not yet received the statements we requested, nor have we received an answer to the problem. Until they research the problem and find out where the misapplied payment has occurred, we will not allow them to modify our account in any way, shape or form.
Our opinion is that Ocwen is a very unprofessional, overly aggressive bunch who can't keep their books at all. It has just been an extremely unpleasant experience dealing with them at all.
I give permission to be contacted regarding Ocwen and their problem business practices.
Renee
Lubbock, Texas
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