Consumer complaint received 2020-10-05
Company: Ocwen Financial Corporation
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I paid my mortgage on Monday, XX/XX/2020 with a phone PHH mortgage representative as I have for the13 years. The representative took two electronic checks as opposed to just one from my checking account! After I contacted PHH on Tuesday, XX/XX/XXXX to request the second charge reversed, I provided them with the requested bank statement with the transaction history. I was led to believe this is all that was needed to get the issue resolved timely, but on Wednesday XX/XX/XXXX, I was told they needed to do research, and then they would send a check in about 10 business days, after the research was completed. I insisted the money be returned the same way it had been taken, electronically. After complaining, and being transferred to a dozen of agents, I was reassured the money would be returned electronically. 
I called every day from XXXX through XXXX to follow-up on the supposed wire, only to be told each day, the wire had been approved by the cash department, and was in process, but because I was assigned to an escalation manager, I had to speak with him to find out when the funds would be released to back to my bank. On Monday, XX/XX/XXXX, I was contacted by an PHH agent notifying me that the money was indeed being returned as a check, and had been mailed on XX/XX/XXXX. After PHH was contacted by the XXXX XXXX XXXX, PHH mortgage company lied to them, stating they explained to me their policy of returning checks in 10 business day, and they were not paying the requested interest on the money withheld for 10 business days. 

Finally, on XX/XX/XXXX I received a check from PHH that was mailed on the XXXX, but backdated to XX/XX/XXXX. On XX/XX/XXXX, I received an additional {$25.00} due to their negligence causing an large automatic draft to bounce. Although I strongly felt I was still entitled to the interest on the unauthorized money from my checking, I choose not to pursue anything else against them. However, on XX/XX/XXXX I received a letter from PHH dated XX/XX/XXXX stating, a payment which is currently automatically withdrawn from your bank account, has been returned from your banking authority for the reason stated below and could be subject to a return item fee up to {$50.00}, except where prohibited by law. First of all, my bank did not return any check to PHH, and secondly, my mortgage payment has never been on auto draft, and lastly, the reason below only stated, and written in this format Please refer to banking institution. you to make alternate arrangements.

After not receiving the promised wire, my bank stepped in and loaned me the amount of the double payment. I provided PHH with proof of the loan and repayment of the loan, a composed a letter from my banker summarizing the nature of the loan, and contact information. I was contacted by a PHH agent on XX/XX/XXXX who stated that in spite of all the documentation I provided them with, and the fact that only one check for the extra payment was cut, no money has been applied to my XXXX mortgage. His comments were, one payment was cancelled, and one payment was returned. This mortgage company lost, stole, or misplaced {$580.00}. 

I am XXXX and on a fixed income. The loss of this substantial amount of money is causing me enormous amount of stress related issues.

Company response to consumer: Closed with explanation