Consumer complaint received 2023-01-05
Company: Ocwen Financial Corporation
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I have been trying to assume this loan since XXXX due to a divorce. I stated at that time, I was the successor in interest of this property due to divorce and I just want to remove the co borrower 's name from the loan. 
I want to make this complaint short, simple and to the point. According to Regulation X Section 1024.31 - I am the confirmed successor in interest of this property, due to divorce. 
I made this known to Ocwen/PHH since XXXX- yet they have failed to abide by the CFPB rules that will allow me to assume my mortgage. 
At this point, I have an order from a family court judge that since PHH did not provide me an assumption of the loan that he will force me to foreclose on my home. He also stated, If i don't foreclose on the home, he will stop my retirement benefits even before I get them. I will not foreclose on my home, and I need PHH to inform this court that they are working on my loan assumption asap, due to the borrower being the successor in interest to the mortgage due to divorce according to the CFPB regulation. 

Now what I need you to do is abide by the CFPB regulations. According to the CFPB, '' signing a loan modification can show assumption '' - I have signed the loan modification paperwork. The Caselaw for this is Chicago Assets Co.v. Watrous, 262 III.App.254 ( 1st Dist 1931 ) or Brush v. Wells Fargo Bank N.A . 911 F. Supp 2d 445, 459-462 ( S.D. Tex 2013 ) Also according to the CFPB, the client ( i the borrower ) gets to decide whether or not to assume the mortgage not the loan servicer or mortgage company. PHH has never allowed me to decide on anything. There are several cases of where the borrower due to divorce was in charge of deciding whether or not to assume the loan. The Case in Andrews v Holloway, 140 Ga. App 622,623 ( 1976 ) ( UNDER GEORGIA LAW MORTGAGES ARE FREELY ASSIGNABLE AND ASSUMABLE AND " THE LACK OF CONSENT IS IMMATERIAL '' ) Again, I have a Georgia mortgage and have been denied the right to assume the loan. 
These are just a few cases in which the CFPB has stated clearly the rules and regulations- and PHH instead is making it hard for me, by asking me to continue to pay 12 to 24 months and then they will see about me getting an assumption, when the rules clearly state the opposite. 
Again, my request is to remove my former husbands name from this mortgage. In XXXX, I was in a XXXX XXXX and tried to assume the loan in which PHH/Ocwen approved and then reneged. However, this was a violation according to the CFPB, because even while in a XXXX XXXX, there is case law that the successor in interest to the property can assume the loan Smith,469 B.R. 198 ( Bankr. S.D. N.Y. 2012 ) So this is my final request to get this assumption paperwork to me immediately, before I am forced to file a legal claim of breach of contract, negligence, and or lack of good faith in settlement. There are several other possible claims that I can and will file if necessary. 
Please, I am requesting the paperwork for the assumption of my loan due to divorce. I need a letter in writing stating that it was your error that your company didn't implement these regulations as required by the CFPB. I need this letter to inform a sitting family court judge, that my house nor my retirement pay need to be impacted in what would impact me in a most disastrous way. I would be homeless and will lose the additional retirement income that I so desperately need and entitled to. 
I am attaching the order of XXXX XXXX XXXX where this judge is stating what he will do if i don't show proof from your company that I have a loan modification and that you all are in the process of making sure I assume this loan removing the co borrower. This is what I need asap, I also am attaching the CFPB rules/ regulations that your company has failed to implement on my behalf. Please pay attention where it sited the Georgia case of XXXX XXXX XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation