Ocwen Loan Servicing - Ocwen Federal Bank
Ripoff Breach of Settlement Agreement

Ocwen, (which is NewCo spelled backward) filed a foreclosure action against me in Feb. After 36 months of litigation, we finally reached a settlement agreement in Feb. Of 2007. As part of the agreement, Ocwen was supposed to remove all negative reporting from the credit bureaus.

As of August, they have failed to comply even though a Judge ordered them to do so on July 30.

Their modus operendi is to target borrowers who have lots of equity in their properties. Then they will back date the start date to pay, for example in my case from May 1 to March 1 (thus putting the person two months in arrears from the get go). Next they will claim not to have received a payment (ie in my case the Nov. 2003 payment).

Luckily for me, I saved all my paperwork and my cancelled checks, so I was able to prove to their third attorney that they were wrong. Their first attorney realized they were wrong back in 2004 and wanted to settle so they got rid of him and found another shister to try and save their case. Luckily for me, she blatently forged a stipulation and was detected by the Judge. She was removed and faces charges. At this point, their third attorney realized it was time to settle since they had no case.

Ocwen took revenge by failing to clean up my credit and is thus preventing me from refinancing. Truly, this is a criminal organization and needs to be put out of business permanently. They already had to give up their Federal Charter in 2005 because of the heat. They can not survive with their colections of nickels and dimes so their profit center is bogus foreclosures.

Company: Ocwen Loan Servicing - Ocwen Federal Bank
Country: USA
State: Florida
City: West Palm Beach

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