Consumer complaint received 2015-05-27
Company: Ocwen Financial Corporation
State: CO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Credit decision / Underwriting

Complaint:
My ex-wife and I separated in XXXX. In the process, my mortgage loan was modified by GMAC beginning XXXX XXXX. Shortly afterward Ocwen Loan Servicing took over. 

My divorce was final in XXXX XXXX. The house stayed with me, my ex-wife signed and filed a Quit Claim for said property. 

In XXXX I began the process of attempting to have her name removed from the mortgage with Ocwen. Ocwen began " reviewing '' the assumption package XXXX XXXX, XXXX. 

I have continued to supply Ocwen with responses, paperwork, forms, documentation, and whatever else they requested since. I was traveling during XXXX of the times I was requested to provide documents and it took approximately XXXX weeks to honor that request, but most times I provided whatever information requested within XXXX days ; sometimes within hours. 

From approximately XXXX XXXX to XX/XX/XXXX, Ocwen had an " internal issue '' in their FHA underwriting department. This issue brought the entire assumption process to a halt. I find it difficult to believe that Ocwen could not or did not write a single FHA loan during that time. 

My income alone is higher than were mine and my ex-wife 's incomes combined when this loan was originated. My income is higher than it was when this assumption process was initiated nearly XXXX months ago. My debts are lower than they were when this loan was originated and they are lower than they were when this assumption was initiated - by nearly $ XXXX/month. 

I am, and have been, paying as agreed since the modification of this loan in XXXX XXXX. I have not been late. I have not missed a payment. I have paid at least the full amount and as a matter of fact have paid extra for several months. 

My ex-wife has grown impatient with this process and has filed contempt charges against me. Because of Ocwen 's failure to execute, I might very well incur legal problems. As a result, I have begun applying for another mortgage loan with another provider. If Ocwen continues to fail and I am required to obtain a loan with another provider, the terms of the loan will be different from my current mortgage. A new loan will cost me more money now as well as in the future. I was told at XXXX point in all of this mess, that if this assumption was " approved '' with Ocwen that the terms of the loan would not change. 

I am not applying for a loan ; I am only attempting to have my ex-wife 's name removed from the existing loan. She has signed and filed a Quit Claim. The XXXX XXXX XXXX, in the divorce proceedings, ordered that I be the sole owner of this property. My income is higher and my expenses are lower than when this process was initiated. Ocwen has been provided with all of this information, and more. Repeatedly. 

Some type of relief would be nice although I understand that might not be possible. If not for me, perhaps something can be done to prevent this type of unethical, frustrating, improper, incompetent behavior and/or activity from happening in the future.

Company response to consumer: Closed with explanation