Consumer complaint received 2017-07-19
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
I understand that OCWEN Loan Servicing LLC is being sued by the CFPB for numerous charges including misapplying borrower payments, botched escrow and insurance payments. I have in the past and am currently battling OCWEN on these exact same issues. I am relieved to hear that OCWEN might finally be penalized for these unscrupulous business tactics. I am seeking assistance to stop OCWEN from foreclosing on my property. I have received Delinquency and Default Notices and they are threatening foreclosure although all of my payments have been made on-time and in full. I have never missed a payment! The following is a timeline of events related to my most recent issue : XX/XX/XXXX : Enter into attached Interest-Only Mortgage Modification with GMAC Mortgage ( this loan subsequently acquired by OCWEN Loan Servicing, LLC ) XX/XX/XXXX : Escrow Analysis received : effective XX/XX/XXXX, new escrow payment= {$410.00} total shortage= {$1300.00} new monthly payment= {$1500.00}XX/XX/XXXX : I sent written notice to OCWEN that I will no longer be paying my escrow with my monthly mortgage payment following disbursement of my property taxes by OCWEN from my escrow account. ( due to numerous discrepancies and inaccuracies in this and past Escrow Analyses ) XX/XX/XXXX : Property taxes disbursed by OCWEN to XXXX County,  FL tax collector- {$2200.00} XX/XX/XXXX : Escrow balance= {$46.00} XX/XX/XXXX : Escrow Analysis received : effective XX/XX/XXXX, new escrow payment {$360.00} and total shortage of {$740.00} new payment = {$1400.00} XX/XX/XXXX - current : I make payment of {$1100.00} each month on-time and in full. This amount is the interest-only payment required per the terms of my Interest-Only Mortgage Modification Agreement. I am not required to pay escrow or principal until XX/XX/XXXX. ( See Section 4 of the agreement )XX/XX/XXXX - receive Delinquency Notice stating I owe {$3300.00} XX/XX/XXXX - receive letter from OCWEN stating hazard insurance coverage insufficient. XX/XX/XXXX - XXXX ( my insurer ) provides written notice to OCWEN that Insured is to be billed. XX/XX/XXXX - receive Delinquency Notice stating I owe {$3800.00}. XX/XX/XXXX - XXXX sends notice to OCWEN of new hazard coverage amount. XXXX OCWEN pays {$1300.00} to XXXX premium on policy for the insufficient coverage! XXXX I meet with a HUD Housing Credit Counselor and together place a call to OCWEN to rectify the issues related to the Default status, the misapplied portion of my monthly payment to escrow and why they made payment to XXXX and for the lesser hazard coverage. Nothing is resolved in the phone call, yet the customer service representative states he will email me a follow-up. XX/XX/XXXX -receive an email with the attached Reinstatement Letter - with fees and line items that make no sense at all. XXXX I receive my updated policy and invoice from XXXX for the increased coverage. I make payment of {$94.00} for the shortage as a result of OCWEN payment on XX/XX/XXXX. XX/XX/XXXX - receive another insufficient hazard coverage notice from OCWEN XX/XX/XXXX - OCWEN makes payment to XXXX in the amount of {$94.00} for the sufficient amount of hazard coverage. ( I discovered this today-XXXX ) XXXX Meet with HUD Housing Credit Counselor and place another call to OCWEN. Directed to a Relationship Manager. All the same questions which were asked on the XX/XX/XXXX call are asked again, with no resolution. The Relationship Manager stated repeatedly that I owe the escrow, he ca n't undo the Default status nor correct any negative credit reporting. He further stated that he could n't " de-escrow '' my account since I had less than a 75 % Loan to Value Ratio. How can this apply to an Interest-Only Loan?? I can never get my balance down, since I do n't pay any principal! OCWEN is trying to foreclose upon a customer who has never missed a payment! I am seeking relief from OCWEN 's threats of foreclosure. I demand OCWEN rectify financial information related to my account- bringing my loan current, removing all fees, stop applying my interest payments towards escrow, no longer make payments for insurance and property taxes on my behalf, and remove all negative credit reporting. I intend to ask XXXX to reimburse OCWEN for the payment they made and then pay XXXX directly for the total premium for the increased coverage. OCWEN will be provided a copy of the declaration to ensure the coverage is sufficient. I look forward to your response.

Company response to consumer: Closed with explanation