OCWEN, Fairbanks, HomEq, All Servicing Companies
Domestic terrorists rip-off thieves

Just had a pleasant and informative conversation with a representative from the Arkansas Securities Department. This agency regulates SOME of the mortgage companies in this state and she cleared up many grey areas for me. I will pass on what I learned to the rest of you FYI.

For all the folks suffering with Fairbanks Capital: Fairbanks does not appear to be affiliated with any bank and should be registered in your state in order to do business there. You should have recourse through your state department assigned to regulate mortgage companies. You will usually find that working things out on a state level is easier and faster than Federal level issues. Lucky you. Get cracking! (By the way, Fairbanks; the Arkansas Securities Department has bookmarked this site and will read lots of these complaints. Clean up your act soon or your days will be numbered in this state and probably many others).

As for all the rest of the "gangsters": Ugh! Evidently, it is the OTS for you. OCWEN does have a Federal bank charter (unbelievable!), and most of the rest are non-bank subsidiaries of mostly national banks. The "non-bank" subsidiary is used to escape oversight by some Federal agencies; even though they are non-bank, they are still overseen by the OTS.

A nice lady named Marlene from Florida said that "Mama OTS bites for her child OCWEN"; that should indicate the level of cooperation that you can expect from the OTS. Was OCWEN created to be a servicing company for Federal loans? Does anyone know when OCWEN came into being? That might be an interesting fact to learn.

There is something so wrong here. Federally chartered companies (banks, if you will) breaking Federal laws: RESPA, Fair Debt Collection laws, while the Federal agency charged with oversight buries it's head in the sand and REFUSES to look at the problem. Hmmm... What is wrong with this picture??!

Last time I looked, Federal salaries were being paid with citizen's tax money. Perhaps it is time to have a look at the OTS. I know that there were some troubled times in the Securities sectors of the Government. Heads rolled because folks there were not doing their jobs and helped create a mess (Enron). They were using the "benign neglect" approach.

Sounds like the OTS may be practicing the same strategy with these mortgage servicing companies. Lack of regulation creates a juggernaut and the picture I am getting is that there is a general unwillingness in place to police it by the very agencies charged with that job!

If the OTS is either unable or unwilling to do it's job, do we really need it at all? The money for OTS salaries would be better spent on housing for the displaced Americans who would have homes if it were not for these "bastard child" servicing companies.

I am turning my attention now to the OTS; nothing will be resolved with these servicing companies as long as they enjoy the "protection" of the OTS. Perhaps an inquiry to the Department of the Treasury, as well. I believe that they oversee the OTS. Is there a policy of "benign neglect" in place there, too? We'll see...

Company: OCWEN, Fairbanks, HomEq, All Servicing Companies
Country: USA
State: Nationwide

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