Complaint / Review
Ocwen Federal Band, FSB
Improper billing, threatening phone calls and incorrect posting of payments

I have been extremely frustrated by the dealings I've had with Ocwen so far.

First I want to appologize. My complaints are small. Many people have lost a great deal to this company and I don't want to detract from their complaints. After reading some of the info on this site though, I am concerned that I've only seen the tip of the iceberg. I don't want to chance losing my home.

My Experience with Ocwen:

Since they bought my loan, Ocwen began and has continued to call and make threatening statements BEFORE payments were due even though I've never missed a payment.

I have never been able to get them to send a payment book. They insist that my payment amount is slightly higher (less than a dollar) than it was when they took over the loan. Many long and frustrating calls, faxes of original documents, begging and pleading have made no difference at all. They did once send two 8 1/2 by 11 sheets of paper with 3 statements per sheet. Those statements were for almost $11.00 LESS than my actual payment amount. I called to straighten that out. The person I spoke with said that I should pay the amount shown. I did, and included the first 1/3 sheet with the payment. A few days later I got another of their threatening phone calls. I verified that my check had cleared. They said they applied the amount to my loan as 'additional principal' since it was less than the amount due.

I sent another payment, for the original amount, and they called insisting that I still owed them the $. 66 difference between my original payment and their payment amount. I did that, and have continued to send the extra 66 cents just to avoid the aggravation of trying to get it straightened out.

I realize this is all minor compared to the hell that others have revealed in statements on this site. My intent here is not to whine - so far I consider myself lucky next to the others. My reason for writing is to try to understand how to avoid getting financially raped as so many have obviously had done to them.

I am reaching a point where I hope to refinance the property and get out from under Ocwen's thumb. What can I do to protect myself now?

The money I've lost so far is nothing. I only want to ensure that I get refinanced and get the required documentation from them to complete the process.

I am also willing to help further the cause of those injured by Ocwen. What else can I do to help?

Respectfully,

Rex