This is my second letter of complaint regarding the complete incompetence of the management of my mortgage, which Ocwen Federal Bank purchased in January of this year. Attached you will find my first letter dated March 26. Both letters have been copied to the Attorneys General of the States of New York and Florida, Ocwen attorneys in Colorado, and my attorney.
First, I was not appropriately informed of the transfer of my mortgage to Ocwen Federal Bank (Ocwen) from North American Mortgage Corporation (NAMC) in January. My Automatic Monthly Payments to NAMC were cancelled in February without my knowledge. The first document received in late February from Ocwen was a Past Due Notice for the February payment, which, finally, led to an explanation of the transfer.
After receiving no tangible help from any of Ocwens phone support staff, my account was brought back into compliance in March. I was assured that my Automatic Monthly Payments would be restarted soon. I asked, if we needed to mail our April payment and to what address. The Automatic Monthly Payments were not restarted and we received no invoice for the April payment.in fact, we received no response to our first letter whatsoever.
Finally, we received our FIRST monthly invoice on April 22nd. (We thought Ocwen had finally gotten its act together.) The notice asked for payment of $3,704.24 (for April and May) before May 17. That payment was mailed on Saturday, May 11th.
On May 13th, we received a notice from the Law Firm representing Ocwen informing us that our mortgage was in default. You have the gall to suggest that we have not acted appropriately in this matter and threatened us with legal action. UNDERSTAND CLEARLY, if our credit worthiness is adversely affected in any way by your incompetence, it is Ocwen and its agents that will face legal action.
Is there an upper limit of allowable incompetence on the part of a financial institution managing the mortgage of a customer? This question is especially germane, when the customer has had no say or control over the purchase and transfer of his/her mortgage by the particular financial institution.
(written to Ocwen)
For the record, we consider our account is up to date and in good order. Due to the fact that any payment delays resulted from the complete incompetence of Ocwen, there will be no payment of late fees. We want to restart Automatic Monthly Payments and until the restart, Monthly Invoices are REQUIRED (please have them mailed no later than the 20th of each month). We also want to enroll in a Bi-Saver plan as soon as possible.
I hope this is the last letter of complaint I have to write.
Larry
New York, New York
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