Consumer complaint received 2017-06-24
Company: Ocwen Financial Corporation
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Below are the details of our home loan from Ocwen Loan Servicing, LLC : Unpaid Principal Balance : {$420000.00} Original Principal Balance : {$430000.00} Escrow Balance : ( {$2600.00} ) Length of the Loan ( Months ) :360 Origination Date:XXXX Maturity Date:XXXX Interest Rate ( % ) :3.48738 We have NEVER missed a payment. We have been late two or three times, but have NEVER missed a payment. Summer of XXXX, we went through a loan modification with Ocwen. We were approved and our new monthly payments were to be {$2100.00} Our trial period began and every payment was made on time and 4 phone calls with our " Relationship Manager '' were made stating that the cashier 's check was mailed in. At the end of the 6 month trial period, which wasXX/XX/XXXX, Ocwen sent back one of our cashier 's checks. When we called to ask why, Ocwen said the loan modification was not signed, therefore null and void. We were shocked. We had no idea this was a requirement ( we had just signed and sent in all of the modification papers 6 months prior ) and we asked why we were not notified about this during any of these " relationship manager '' phone calls. Ocwen had no answer for that, they just said sorry and now we need to back pay {$16000.00}! We told them this was ludicrous and we needed to find another solution. I asked why we could n't just sign the paperwork? Ocwen claimed it was too late for that - federal rules and regulations. All of this because of a signature? And, you did not notify us? This seemed very underhanded and illegal. I asked what other solutions they had for us. Ocwen said we could try for another modification. We tried and were denied. When we asked why, they said because they could n't lower our payment by 20 %. I said we do n't need our payment lowered by 20 % - we are happy to continue paying what we were paying - in fact, we could pay a bit more each month. Ocwen said sorry. There was nothing they could do. I have called back three times looking for new solutions and have talked to a " manager '' but they just keep repeating the same round and round nonsense. Because we do n't want to lose our home, we made a {$7000.00}. payment and have to make payments of {$4200.00} a month for 11 months to get our " account current. '' We have tried to refinance, but here is the added salt to the wound - Ocwen is stating that WE HAVE 6 MONTHS OF LATE MORTGAGE PAYMENTS!! So, we have been turned down. I called to tell them this as well. I stated that they obviously do not want us as customers any longer and we are trying to refinance elsewhere, but they need to fix our credit history! Again, they said no and that they were sorry. I told them they were not sorry - how could they be? My husband and I went online and looked at all of the thousands of consumer complaints about Ocwen. From a recent XXXX XXXX article : Lawsuits allege mortgage servicer Ocwen 's mistakes cost some borrowers their homes XXXX XXXX and XXXX XXXX, XXXX XXXX Published XXXX XXXX ET XX/XX/XXXX | Updated XXXX XXXX. ET XX/XX/XXXX We are truly stuck and Ocwen is not helping us at all. They are just taking advantage of us and now we are trapped.

Company response to consumer: Closed with explanation