Consumer complaint received 2022-10-24
Company: Ocwen Financial Corporation
State: TN
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Closing on a mortgage

Complaint:
This is the second complaint which I am filing against PHH Mortgage Services reverse mortgage debt collector. The first is CFPB case number : XXXX. I have communicated with various customer service representatives after the passing of my father on XX/XX/XXXX. As difficult as it was to speak with a different representative every time I called, I thought that I was following the correct steps to repay the loan. I completed the paperwork as the executor of his estate declaring that the home would be sold to pay the reverse mortgage loan. I requested more detailed information on how the loan payoff amount was calculated as well as line of credit distributions that were paid to my father. I received this information after filing the first complaint. 

I have a different issue which is very problematic. The home was sold by auction on XX/XX/XXXX. The buyer and closing attorney set a date of XX/XX/XXXX for the closing. This could not be carried out because the mortgage company has a title XXXX on the home and will not release it. I was given the name of XXXX XXXX as my point of contact as I requested a short sale approval for the sale of the property. The selling price of the home was less than the loan payout that is due. I can only communicate with XXXX XXXX by email. This is very difficult when I have specific questions to ask. He does not have a direct extension to receive calls. XXXX XXXX advised me that an appraisal would have to be done on the property. The mortgage company would designate an XXXX. 
The first appraisal was completed on XX/XX/XXXX. My sister was on site with the XXXX who thoroughly inspected the interior and exterior of the home. He stated that he would submit this information to the mortgage company. The following week I began to receive random emails from another inspector asking for access to my father 's home for inspection. I thought it was spam since this process had already been completed. After receiving a few more emails I contacted XXXX XXXX to see if he had authorized another home inspection. He said that he had due to the first inspector having technical difficulties. The second appraisal/inspection was completed on XX/XX/XXXX with my brother present on site. The XXXX took a few pictures of the interior of the home and left. When asked for an update on the short sale approval status, XXXX XXXX stated that the appraisal information had been uploaded in their system and it is now being reviewed by an underwriter. 

I received a call from XXXX at PHH Mortgage Services stating that my father 's home was in foreclosure and she wanted to know when the loan would be repaid. I advised her of what the current status is in terms of the home being sold and I am waiting for approval to proceed with the closing. She reviewed notes on the account and stated there was no information indicating that a sale was in progress. I gave her XXXX XXXX 's name and suggest she contact him so that she can verify what the current status. There are no words to explain how frustrated and exhausted I am in trying to resolve this situation. I have spent countless hours reading my father 's contract documents as well as researching reverse mortgage guidelines. If I had been assigned one point of contact who could provide me with detailed information and guide me through the process, it would not have been necessary to take the extra time. This process has weighed heavily on me emotionally because I am still working a full time job and trying to handle this business in my spare time. The attorney of my father 's estate is also trying to provide assistance to obtain information of what we can do on our end. As I see it the reverse loan company either wants the loan repaid ( even if it is not the full amount ) or they want the home to sell themselves. If the second option is what they want, I could have turned it over to them at the beginning of the process and prevented a lot of time and anguish in trying to resolve the debt. 

Any assistance you can provide once again in resolving this matter would be greatly appreciated. 

Thank you.

Company response to consumer: Closed with explanation