Consumer complaint received 2017-11-13
Company: Ocwen Financial Corporation
State: TX
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
We requested Ocwen Loan Servicing, LLC ( " Ocwen '' ) to correct a serious error it made when it unilaterally and incorrectly changed the mortgage property address on my monthly Mortgage Account Statements to the address of another property that I already own. Although I complained to the company for over a year, Ocwen failed to correct the error or provide an accurate accounting of my payments on the mortgaged property. 


We originally financed the mortgage for a rental property with two units, through XXXX XXXX, XXXX ( " GMAC '' ) on XX/XX/XXXX, in Loan Number XXXX. See Exhibit A. The GMAC Settlement Statement correctly identified our mortgage property as follows on page 1, box G : PROPERTY LOCATION XXXX - XXXX XXXX XXXX XXXX XXXX, TX XXXX XXXX, Texas XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX On XX/XX/XXXX, GMAC notified us that it had transferred the servicing of mortgage Account Number XXXX to Ocwen. ( See Exhibit B ). GMAC identified the mortgage property address for the transfer as follows : Property Address XXXX XXXX XXXX. 
XXXX XXXX, TX XXXX When Ocwen issued its first Mortgage Account Statement dated XX/XX/XXXX ( Exhibit C-1 ), it correctly identified the mortgage property address at the top of the statement as follows : Property Address XXXX XXXX XXXX. 
XXXX XXXX, TX. XXXX Moreover, Ocwen continued to use this property address as the mortgage property location for the next three years, in all of its Mortgage Account Statements. ( See Exhibit C-1 through C-3 ). 


Then, beginning XX/XX/XXXX, Ocwen unilaterally, and without explanation, changed the mortgage property address on the Mortgage Account Statement for Account Number XXXX to : XXXX XXXX XXXX XXXX XXXX, TX. XXXX Not only is the XXXX XXXX XXXX address incorrect as shown through Exhibits A, B, and C-1 through C-35, but in issuing a Mortgage Account Statement for that address, Ocwen illegally represented itself as the mortgage servicer for that property, a property that we already owned, free and clear of any mortgage. Ocwen continued this wrongful and illegal action through XX/XX/XXXX, almost a whole year. ( See Exhibits D-1 through D-15 ). Thus, much to our legal detriment, between XX/XX/XXXX and XX/XX/XXXX, Ocwen not only failed to correctly credit our payments with the correct property address, but it also illegally attempted to hold Ocwen out as the mortgage holder on property we already owned and collect payments on property we already owned. 


In XX/XX/XXXX, Ocwen again incorrectly changed the mortgage property address on the Mortgage Account Statement. See Exhibit E. This time, Ocwen incorrectly included only half of the duplex ( the mortgaged property ). ( See Exhibit E ). The mortgage property address shown on the XXXX Mortgage Account Statement was : XXXX XXXX XXXX XXXX XXXX, TX. XXXX Again, to be correct, the Mortgage Account Statement should have included XXXX XXXX XXXX, not just XXXX XXXX XXXX. 


In summary, despite repeated verbal requests to correct the problem, Ocwen has yet to rectify the Mortgage Account Statements between XX/XX/XXXX and the present, to correctly identify the mortgage property address/location as shown in : 1 ) my original loan from GMAC and 2 ) Ocwen 's own Mortgage Account Statements between XX/XX/XXXX and XX/XX/XXXX. By failing to correct this error, Ocwen has caused us financial harm by failing to properly credit our mortgage account for payments ( principal, interest and escrow ) we made on the mortgage property located at XXXX - XXXX XXXX XXXX, XXXX XXXX, Texas. Ocwen 's error not only exposed us to wrongful foreclosure, but also the possible loss of our investment for payments. 


Therefore, after a year or more of unsuccessful attempts to have XXXX rectify this error, we requested the following relief from Ocwen by letter dated XX/XX/XXXX. 


1. Immediately issue a letter of correction, including corrected Mortgage Account Statements for Account Number XXXX, for the months of XX/XX/XXXX to the present, that correctly identify the mortgage property address as : XXXX XXXX XXXX XXXX XXXX, TX. XXXX 2. Immediately issue an annual summary statement for the years XX/XX/XXXX and XX/XX/XXXX, showing all payments we have made to Ocwen under Loan Number XXXX, utilizing the correct mortgage property address : XXXX XXXX XXXX XXXX XXXX, TX. XXXX and, 3. State in the letter of correction that Ocwen is neither the servicer of any mortgage nor the title holder or lien holder of property located at XXXX XXXX XXXX, XXXX XXXX, Texas and that any attempts on the part of Ocwen to collect payments for this property were in error. 


Because Ocwen has failed to take any action for a year to correct these egregious errors and because we have been advised by our tax accountant to take legal action, we are filing a Complaint with the Consumer Financial Protection Bureau ( " CFPB '' ). We are aware of the many lawsuits that have been filed by States across the nation against Ocwen for similar problems that have resulted in wrongful foreclosure and other serious harm to consumers. We also know that CFPB has filed a lawsuit against Ocwen this year for similar problems. 


We are hoping that you will take action to protect us as consumers from this predatory behavior by Ocwen. Thank you for taking the time to consider our complaint.

Company response to consumer: Closed with explanation