Consumer complaint received 2017-10-04
Company: Ocwen Financial Corporation
State: PA
Product: Debt collection
Sub-product: Mortgage debt
Issue: Took or threatened to take negative or legal action
Sub-issue: Seized or attempted to seize your property

Complaint:
I have been subject to false, fraudulent, and sharp business and collection practices by Ocwen Loan Servicing, LLC. Below is a description of the four to five year ordeal. I attempted to resolve delinquent mortgage debt for my parents. I am their legal power of attorney. 

On or about Tuesday, XXXX XXXX, XXXX, I received in the mail the enclosed IRS form XXXX, cancellation of debt for my mother, XXXX XXXX for whom I am attorney-in-fact. This is the third XXXX I have received from Ocwen for the same loan. Ocwen also sent one intended for my father, XXXX XXXX XXXX, who XXXX on XXXX XXXX, XXXX. 
I have several issues with the enclosed XXXX as well as Ocwens fraudulent conduct throughout my attempts to resolve the mortgage loan delinquency. First, with respect to the XXXX, the date of identifiable event is XXXX XXXX, XXXX ( the Identifiable Event ), which is approximately three weeks after Ocwen and/or XXXX XXXX sold the property on XXXX XXXX, XXXX to a XXXX XXXX for {$91000.00} ( the XXXX Sale ). The fair market value ( FMV ) of the property on the enclosed XXXX reflects a FMV of {$6400.00}, the amount paid at the foreclosure sale. According to Internal Revenue Service ( IRS ) Temporary Regulation 1XXXX6050J-1T ( Q/A 32 )XXXX In general, absent clear and convincing evidence to the contrary, the proceeds of the foreclosure, execution or similar sale will be considered the fair market value of the property for purposes of this reporting requirement. 
In the instant case, the arms-length XXXX Sale on  XXXX XXXX, XXXX in the amount of {$91000.00} is clear and convincing evidence of the FMV of the property. The XXXX Sale occurred twenty-three ( 23 ) days before the Identifiable Event and is clear and convincing evidence of the FMV of the property. The purchase price agreed to by a willing seller and a willing buyer in an arms length transaction is the clearest and best evidence of the fair market value of the property. In my view, Ocwen ignored the XXXX Sale as a true  reflection of the FMV in order to inflict as much hardship on my XXXX-year old mother who lives in an XXXX XXXX XXXX. Demand is made that Ocwen immediately revise and reissue the XXXX for XXXX XXXX reflecting a fair market value of the subject property in the amount of {$91000.00}. 
I also dispute the amount of debt discharged in box 2 in the XXXX. This amount was grossly inflated by Ocwen by its own conduct. My first attempt to resolve this was in late XXXX or early XXXX at which time I attempted to work out a loan modification. I agreed to a {$10000.00} curtailment payment, which was made, but Ocwen, employing fraudulent and sharp business practices, doubled the monthly payment. I would not execute a forbearance and loan modification agreement with a monthly payment double the contract amount. My parents were on very limited and fixed incomes, surviving on a small XXXX XXXX XXXX pension and Social Security. The terms Ocwen proposed were simply not possible. 
My second attempt to resolve the delinquency was through a short sale in late XXXX and into XXXX. Through an agent, I found a buyer for the property who was willing to buy it for about {$74000.00}. Ocwen ordered an appraisal from XXXX XXXX, owner of XXXX XXXX. The appraisal, as I understand it, came back in the vicinity of the short sale purchase price. The Ocwen agent I was working with in XXXX intentionally, willfully and fraudulently altered the XXXX XXXX by discarding the comparable sales and replacing them with three other properties that were not comparable recent sales, one of which was not even on the market or the subject of a recent sale. Such fraudulent and sharp business practices are why I stopped attempting to work out a solution with Ocwen. Every effort was met with false and fraudulent statements and conduct from Ocwen. 
My final attempt to resolve the loan was through a deed in lieu of foreclosure in XXXX. My final attempt to work this out was a failed deed-in-lieu of foreclosure in XXXX which, again, failed because of the business practices of Ocwen and its outside counsel which refused to return phone calls and did not make email addresses available. Ocwen also ensured that interest, costs and other amounts would continue to accrue by employing an aggressive and incompetent collection system run out of its XXXX based call centers. I received hundreds of calls from your call center. They knew nothing about Pennsylvania real estate law or anything else and were very difficult to understand.

Company response to consumer: Closed with explanation