Complaint / Review
OCWEN Federal Bank
Ripoff business from hell

I am soooo glad my family is finally out from under OCWEN!!!

Our original 2nd mortgage loan was for $25,000 through City Mortgage, which within the first 2 years, it was sold to OCWEN. That's when our lives changed!

They would constantly call and harass my family about payments that were not received. They have a so called grace period to make the monthly payment in, but if the payment is not there by the original due date they start calling EVERY day, sometimes 2-3 times per day.

Sometimes we never received a monthly statement from them. They would claim that their records showed a statement had been sent, so we were responsible for a late fee and even if we did not receive a statement we should just send a payment to their address with just a check in an envelope... NO WAY!!!

We have finally obtained another loan just to get rid of our OCWEN headache. They will not give you a payoff over the phone and it costs an additional $10 to receive a payoff-even more to have it faxed to you. When we did receive our payoff they added $450 in supposed interest.

So after 5 years of dealing with this we had only paid $700 off the loan. Our payoff came to $24,350.
Thank God we won't have to deal with them anymore!!! We didn't even bother to call and complain because we are just happy to have another company!!!

Marie
Wayland, New York