Consumer complaint received 2016-09-21
Company: Ocwen Financial Corporation
State: SC
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
I am XXXX XXXX XXXX ; I have a home mortgage loan with Ocwen Financial Servicing LLc. I am wishing to file a complaint against this company concerning questionable mortgage practices such as irrational fees applied to my account to keep me in late on my payments : Suspense payments fee BPO fees Property valuation fees Property Inspection fees Prior Servicers fees Late fees Late escrow fees I have carefully comb through my statements, receipts, and contract trying to find a logical reason for all these fees and nothing, then again, even the company reason is questionable to me. 
Additionally, Ocwen Financial has misinformed me about many of my rights as a customer. Countless years my mortgage payments has been placed in an escrow account that I HAVE NEVER HAD ACCESS TO. My statements show surges in my monthly payments, surges in escrow payments and unapplied funds. Because of these surges, I made yet another call to Ocwen. 

According to the many conversation, I have had with Ocwen Financial Servicing LLc, Customer Care Center. The company explains that they had to pay my home insurance out of my escrow account therefore, making the escrow account short. Triggering a reduction in my house payment consequently transferring it to unapplied funds until a whole payment. This is how Ocwen has round up thousands of dollars in IRRATIONAL FEES. 

The requirements to withdraw from the escrow account is to have your house payments, house insurance, plus home taxes all current at the time you ask to be discharge from the escrow account. XX/XX/2016, I made three-house payments totaling nearly {$2000.00} more than I owed just to be on the safe side. I called Ocwen Financial Servicing LLc, Customer Care Center requesting to be removed from the escrow account. 

Ocwen Customer Care Center explains they need to research my escrow requirements then contact me later. XX/XX/XXXX Ocwen Financial Servicing LLc, Customer Care Center sent me a letter stating my escrow waiver request was denied coupled with the statement the escrow is still required on your loan Furthermore, let me be clear I believe my issues concerns fraudulent practices committed by Ocwen in connection with its home mortgage loans. I believe the company was and still is being malice, misrepresentative and manipulative towards it customers. In my research, this is what I came to realize. Ocwen Financial Servicing LLc, goal is to keep the homeowner late or in default. 

Combined, monthly payments coupled with the revenue generated from fee inflation each month times millions of customers is goal mine. 

1.Make up fees for homeowner example ( BPO, Other fees, Inspection ECT.. ) 2.Homeowner Payment {$640.00} 3.Keep the homeowner late every month in order by collect fees 4.Inspection fee ... ... ... ... ... ... ... ... .. {$27.00} 5.Escrow short ... ... ... ... ... ... ... ... ... ... {$43.00} 6.Other fees ... ... ... ... ... ... ... ... ... ... ... {$10.00} 7.July 2016 Ocwen XXXX XXXX you owe for two months and late fees Shock I 'm behind???? ?? 
8.June payment what 's left of it is sitting in Unapplied funds collecting interest {$560.00} What has to be the most disturbing is The Deed of trust, which allows Ocwen Financial Servicing LLc to run a scheme in the event the obligator fails to meet their commitments. Which goes back to the point I made above reference to exorbitant amount of fee being generate by way of deceptive practices. 

Finally, Ocwen Financial Servicing LLc has me last on all my bills, I ca n't keep this up much longer I 'm asking for any help legal your agency can provide. I have tried searching for legal help however, the fees or too high or case to small. I would like an investigation into Ocwen Financial Servicing LLc if possible, I would like the fees stopped, to have my fixed payments to remain the same as in contract and close the escrow account.

Company response to consumer: Closed