Product: Mortgage

To Whom It  May  Concern :   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX    (  XXXX  )  is currently assisting the above referenced client to review a legal matter. Please accept this letter of representation regarding our clients  XXXX  and  XXXX   XXXX .   We are writing this letter in an attempt to resolve a servicing error that was committed by Ocwen Loan Servicing LLC. Ocwen, in its capacity as loan servicer of my clients loan, failed to take reasonable care in servicing that loan. More specifically, Ocwen failed to monitor and adjust  XXXX   XXXX  mortgage payment accurately, as required by the Deed of Trust signed at the closing of the loan. Furthermore,  Ocwen  has added over  sixty-five thousand  dollars ( {$65.00},  XXXX   )  to the  XXXX  loan as a result of this error.   The servicing error prevented  XXXX   XXXX  from being able to make an informed financial decision in connection with her loan. Moreover, had the loan payment adjustment occurred in a timely manner,  XXXX   XXXX  could have actively pursued refinancing of her performing loan to obtain more favoranle terms in reaction to the reset. Lastly, this error caused  XXXX   XXXX  to fall behind on her loan and become delinquent.   On or about  XXXX   XXXX ,  XXXX   XXXX   XXXX  signed a loan with   XXXX   XXXX   XXXX     in the amount of {$370000.00}. This loan was an option ARM five-year interest only loan. I note here that this loan is typical of predatory subprime loans that were generated at the height of the mortgage crisis.   As was typical for borrowers of this particular type of loan, my clients fell behind on their payment and were approved for a modification of their loan on or about  XXXX   XXXX ,  XXXX . The modification also included an interest only period which ended  XXXX   XXXX ,  XXXX .      XXXX   XXXX   XXXX  ,  then, transferred the loan to  Ocwen Loan Servicing . On or about  XXXX   XXXX ,  XXXX ,  XXXX   XXXX  contacted  Ocwen Loan Servicing  on numerous occasions to inquire about the eminent scheduled loan payment adjustment.     She was repeatedly advised by  Ocwen  that no adjustment was scheduled. After several attempts to bring this matter to the companys attention, and after advice by  Ocwen t hat no adjustment was scheduled, my client believed that  Ocwen  serviced her loan accurately. The  XXXX  then continued make timely payments on thier loan.   On or about  XXXX   XXXX ,  XXXX , my clients received a letter from  Ocwen  acknowledging that they failed to follow the executed modification agreement and subsequently proceeded to increase the  XXXX  payment from {$1100.00} to {$3200.00} without offering any type of mortgage assistance to cushion the blow of having her payment increase three times the original monthly amount. Further, Ocwen added an additional {$66000.00} to my clients loan balance that resulted from Ocwens improper loan servicing..   Ocwen has violated  12 CFR Part 1024 ( Regulation X ),  which governs the servicing of mortgage loans. As you are aware, sectio n 1024.38 ( b ) ( 1 ) ( ii ) st ates, A servicer 's policies and procedures must be reasonably designed to provide for promptly obtaining information from service providers to facilitate achieving the objective of correcting errors resulting from actions of service providers, including obligations arising pursuant to  1024.35.  Furthermore, as required by Regulation X, Servicers must develop policies and procedures that are reasonably designed to enable servicer personnel to identify all loss mitigation options available for mortgage loans currently serviced by the mortgage servicer . ( 1024.38 ( b ) ( 2 ) ( ii )  ).   In conclusion, due to major servicing errors committed by  Ocwen Loan Servicing , my clients monthly payment increased exponentially to more than  three ti me the original amount.     Please contact me directly should you have any question regarding this issue. You  may  reach me by telephone at (  XXXX   )   XXXX .