We bought our home in June and financed through DHI Mortgage. A few months later, our loan was sold to Ocwen. This is where our nightmare began.
We did not receive notice that our loan had been sold until the 28th of the month. Since our payments were due on the 1st, we had already mailed our payment to DHI Mortgage. We contacted both DHI and Ocwen via phone and mail and were assured that our payment would be forwarded and credited.
I didn't even think about it again until I received a letter several months later indicating that we had a payment that was more than 30 days past due. Ocwen claimed that they had never received the payment from our previous mortgage company. We provided them with copies of our cancelled checks and I again contacted our previous mortgage company who provided me with the check # of the check that they had sent to Ocwen. I forwarded this letter to Ocwen and thought the issue had been resolved.
A few months later, we started getting letters threatening foreclosure due to a missed payment. I again contacted Ocwen, they again requested copies of the cancelled checks, we sent the information, and I contacted DHI Mortgage again. They said that the check they sent out initially had never been cashed and sent a new one. I provided Ocwen with the check # and the # of the contact person at DHI. We finally got this settled, but sure enough, our next nightmare was just beginning!
We received a letter in the mail indicating that Ocwen had determined that we did not have homeowner's insurance and so they were billing us an exorbitant amount and adding it on to our house payment to cover this. We immediately called them, faxed a copy of our homeowner's policy, and sent a copy of the policy via certified mail. We mistakenly believed that would be the end of it.
The next month, when we received our payment coupon for our mortgage, it was significantly higher. Ocwen had tacked on the extra fees for the homeowner's insurance. When we called them, they indicated that they had not received proof of insurance. We AGAIN faxed a copy to them. Then, they claimed that they could not accept it because their "Name" was not on it (It said "DHI Mortgage and ITS successors) as the lender. We contacted the company that we got our homeowner's policy through and eventually, they were able to get things straightened out with Ocwen, but this process took several months.
The next nightmare began with our taxes. We had an escrow account through Ocwen. Our taxes were due on December 31st. We assumed Ocwen had paid them until we received our first delinquency notice in early February. We immediately contacted Ocwen. They said that they had never received any of the tax statements. We faxed copies and sent certified copies.
In March, we started getting threats to foreclose on our home from the various taxing agents. We contacted Ocwen over 26 times via phone, and faxed and sent (via certified mail) several copies of the tax statements. We also requested a reimbursement of the overage in our escrow account (over $5000). It wasn't until the Better Business Bureau and Attorney General's Office got involved that they finally paid our taxes (early April).
We are finally in the process of refinancing our house. We started the process over a month ago and our 30 day lock period has come and gone because Ocwen has refused to provide a payoff amount to our loan officer in spite of her repeated attempts to obtain one. We have also tried contacting Ocwen to no avail.
When you call them, their calls our outsourced and you are lucky if you can understand what the person on the other end is saying. Their wait times are unreal (often close to 30 minutes) and the person on the other end typically is reading from a script. You will not receive a personalized response and rarely will they be able to provide you with the information that you need.
If you are unfortunate like we were and your loan is sold to Ocwen, refinance as soon as you can!
Melissa
Houston, Texas
U.S.A.
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