Consumer complaint received 2015-07-08
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
- My year to date escrow balance on my mortgage statements dated XX/XX/XXXX through XX/XX/XXXX show a different balance than I have made so far for the year. This is alarming because Ocwen can not account for the additional balance reflecting in my ytd escrow account. 

-I am forced every time to purchase a tracking number when mailing in my monthly payment because Ocwen will hold my payment and apply it or misapply it to my account whenever they feel like it, and try to get you to pay a late fee and inspection fee. Ocwen continues to fail to provide adequate servicing to my account and it has caused far too many concerns with the accuracy of the information on my account. 

-Ocwen keeps changing my contractual payment back and forth due to their negligence with the servicing of my payments and escrow account balance. I have brought my concerns to Ocwen 's attention over and over only to receive the run around. I do not trust the employees in Ocwen 's Ombudsman office or escalation department because they are corrupt and not transparent with their response. 

-Ocwen keeps sending me a manual calculated escrow analysis after I asked them to stop because the amounts stated under the escrow cushion and potential escrow shortage section of the analysis does not add up to the total amount Ocwen claims I owe for a shortage. Ocwen refuse to send me a computer generated escrow analysis report. 

-I have made an ongoing effort to voice my concerns to Ocwen regarding the processing of my loan modification offer. During my modification process I had to fight to get the discrepancies with the wrong income amount, wrong principal balance, and property value updated and corrected. However, I have been going in circles with them from XXXX to current about the inflated XXXX BPO report used to determine if my loan modification offer was eligible for a principal forgiveness. I requested to have an independent BPO or appraisal done, but Ocwen will not accept a XXXX party report. I provided them with several different online BPO reports showing the difference in my home value, but they refuse to use the full report. Ultimately I had to deny the modification offer because of the large balloon payment attached. 

- Upon withdrawing my modification application I requested that Ocwen reverse all my payments that were applied as forbearance payments and apply them as contractual payments. From XXXX to current Ocwen has performed several escrow analysis on my mortgage, and they keep coming up with different escrow shortages that do not add up, and it is affecting my fixed monthly contractual payments. 

-My current loan modification agreement from XX/XX/XXXX disclosed that it is a XXXX agreement. I asked Ocwen to confirm if this is accurate information so I could try and get assistance through XXXX with my modification, but they will not provide me with any documentation from the note holder that supports what type of agreement I have. 

-I received an incomplete payment history that is missing documentation of my payments made when Ocwen began servicing my loan in XXXX, and the history is full of XXXX payments that makes it hard to read and get a correct understanding of how my payments were applied. 

-I have statements dated from XXXX that are missing from the statement section of my online account. I asked for this to be researched and corrected, but to date Ocwen has provided me with no response. 

-Ocwens Ombudsman and escalation/research department is full of representatives that are unprofessional people who provide a whole bunch of untimely run around answers.

Company response to consumer: Closed with explanation