Consumer complaint received 2016-11-21
Company: Ocwen Financial Corporation
State: NJ
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
This is a follow up to CFPB Claim # XXXX in which Ocwen says : ",,,, the investor of the account prior to receiving the payoff amount was XXXX. XXXX XXXX. However, Ocwen was servicing the account prior to the account 's payoff ; therefore, all inquiries should be directed to our office. It is important to note that the ownership of an account may change from time to time and in many cases will not be the original investor of the loan or remain the same throughout the life of a loan. '' My request was for Ocwen to ask his investor how is it possible that if XXXX XXXX obtained the assignment in XXXX ( per their documents which by the way has forged signatures ), assigns the loan in XXXX to XXXX XXXX XXXX who keeps it until XXXX but XXXX never clears the assignment ( per XXXX assignment issued by The XXXX XXXX XXXX issued in XXXX - copy previously attached ). 

XXXX XXXX XXXX submitted a XXXX to the shares against this unit in XXXX XXXX. It is clear that 2 parties were claiming ownership of the loan against my unit. Is n't this fraud? 

The fact that there was no XXXX continuation is irrelevant since Ocwen 's client - XXXX XXXX never cleared the original assignment. Therefore, I suggest that Ocwen obtain clarification from his investors. 
The mere fact that XXXX XXXX retained an assignment which remains unclear, and being that Ocwen was the servicer of the loan until its payoff in XXXX, gives Ocwen the obligation to file a XXXX. 
Based on Ocwen 's response which included a statement indicating that they have 'found ' a XXXX filed XXXX and their continued claims that they had filed a document with the county, indicates to me that they agree with my request above. However, they failed to note that the XXXX they found and enclosed, belonged to apartment XXXX ( It was not a typo. I owned XXXX units up until XXXX - XXXX and XXXX in the same building. I sold XXXX in XXXX ) Ocwen served the loan against apartment XXXX. Furthermore, how is that Ocwen does n't know what they filed. Very difficult to comprehend that the whole Ocwen team is this incompetent. 

Therefore, the recorded document they attached DOES NOT FULFILL OCWEN 'S OBLIGATION TO ACKNOWLEDGE THAT THE ACCOUNT IS PAID IN FULL NOR SUCH RECORDING MAKES IT A MATTER OF PUBLIC RECORD THAT OCWEN NO LONGER CLAIMS ANY INTEREST IN THE ABOVE PROPERTY WITH RESPECT TO THIS ACCOUNT as they indicate since it reflects incorrect address and makes reference to the file against a different unit/shares. 

Ocwen further stated on the previous response : " As previously advised, XXXX XXXX is an owner 's corporation/property management company. The XXXX and XXXX XXXX, previously provided to you, completed between XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX, which has XXXX Park 's name listed as an investor. '' It is unclear to me, what the role of XXXX XXXX is on my loan. Ocwen stated : " XXXX as an owner 's corporation/property management company and then further states that XXXX XXXX is listed as an investor '' - -- which one is it and does that mean that there was a third investor on my loan??? why? and how come none of this was disclosed. What are they getting for being part of the loan to which they did n't contribute a dime to, I want to know.

Company response to consumer: Closed with explanation