Consumer complaint received 2018-05-16
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
On XX/XX/XXXX, I sent Ocwen an email correspondence regarding the inaccuracies and false information that has affected my credit report and caused years of harm. I received a response from them dated XX/XX/XXXX, that was full of dishonest and dismissive answers. 

I provided Ocwens Ombudsman office with a copy of a letter from their office dated, XX/XX/XXXX, that supports I contacted Ocwen about my concerns with my XX/XX/XXXX payment being reported 30 days late. The letter states Please note that any payment received towards the loan is credited within twenty-four ( 24 ) business hours from its receipt and in good faith that there will be sufficient funds in your bank account. However, Ocwen failed to recognize this in their XX/XX/XXXX response, because they received my payment on XX/XX/XXXX, and didnt apply it until XX/XX/XXXX, after I was told to put a stop payment on it. Ocwen refuses to acknowledge that they told me to put a stop payment on this payment. However, Ocwen has continuously violated their twenty-four hour policy, and offered no justification for applying my payment eleven days after it was received. Ocwen continues to alter their records to support their erroneous responses. 

Ocwen was provided with copies of my credit reports that show they are reporting my XX/XX/XXXX modification to the credit bureaus as Paying under a partial payment agreement. On XX/XX/XXXX, I emailed Ocwen a copy of their Mortgage Assistance FAQs. I pointed out that under the section ( Will my credit score be affected by either my late payments or the default status of my loan? ) it states We are required to report factual information to the credit reporting agencies. The  delinquency status of your loan will be reported to credit reporting agencies as well as your entry into a Repayment Plan, Forebearance Plan, or Trial Period Plan in accordance with the requirements of the Fair Credit Reporting Act and the XXXX XXXX XXXX XXXX requirements. After completion of any modification, we will report your loan as modified. Ocwens XX/XX/XXXX, response refuses to update their inaccurate information to reflect as modified, and violates the FCRA, Consumer Data Industry Association requirements, and their own policy. 

Ocwen pulled two hard inquires on my credit report dated XX/XX/XXXX and XX/XX/XXXX. However, I told them that there was no justification for the two inquires, because Ocwen sent me denial letters dated XX/XX/XXXX and XX/XX/XXXX, that stated The owner of your loan allows only one modification every 12 months. In their response dated XX/XX/XXXX, they attached two ( 2 ) XX/XX/XXXX Acknowledgement Agreements and stated Point number three on these form provides the authorization to us to obtain a credit report in connection with the review for modification options. There was no need for Ocwen to pull two ( 2 ) different inquiries, because my XX/XX/XXXXapplications could not be reviewed due to the owners 12 month policy, and the hard inquiry dates dont coincide with their denial letter dates. These two ( 2 ) inquires remain on my credit report, and has negatively affected it. 

Ocwen reported my XX/XX/XXXX mortgage payment as 30 days late. I disputed this with the credit bureau on XX/XX/XXXX and recently on XX/XX/XXXX. In their XX/XX/XXXX response, they stated Account records indicate the XX/XX/XXXX payment was received outside of the month due, and therefore, the reporting of a 30 day late payment for this month was valid. Despite their payment history report showing my payment was paid on XX/XX/XXXX, Ocwen didnt thoroughly research my XX/XX/XXXX dispute, and left this inaccurate information to negatively affect my credit report for five ( 5 ) years. However, on XX/XX/XXXX, Ocwen did update my credit report to reflect this payment as no data. 

Ocwen claimed they suppressed the payments I made during the last four ( 4 ) years from XXXX XX/XX/XXXX, due to the disputes I had with their office regarding their ongoing poor servicing. They state in their XX/XX/XXXX, response Under the Fair Credit Reporting Act ( FCRA ) guidelines there are provisions for agencies to suppress or not report credit while an account is in dispute with that agency. We follow this provision and suppress credit on accounts in active dispute with us until the dispute is resolved. Ocwen violated this provision under the FCRA guidelines by failing to update the no data mortgage payments in a timely manner. However, they did recently update my credit bureau payment history from no data to reflect as paid ok on XX/XX/XXXX.

Company response to consumer: Closed with explanation