Consumer complaint received 2016-04-05
Company: Ocwen Financial Corporation
State: FL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
My wife and I have been engaged in a dispute with OCWEN for nearly one year, as the result of OCWEN mistakenly making a duplicate homeowner 's insurance payment XX/XX/XXXX and subsequent escrow analysis which incorrectly increased our monthly mortgage payment. Prior to OCWEN 's insurance payment error XX/XX/XXXX, our monthly mortgage payment was {$650.00} and we continued to pay this monthly payment amount while the dispute was being resolved. We subsequently received a letter from OCWEN XX/XX/XXXX which reflected their acknowledgment of the error, stated that all account information was supposed to have been corrected, and that payment history would be reconciled. It also stated that a new escrow analysis had been performed and as a result, our new payment amount as of XX/XX/XXXX would be {$620.00}. The letter also reflected that OCWEN would be submitting a request to the credit bureaus to report the loan as contractually current. 
Shortly after receipt of OCWEN 's letter XX/XX/XXXX stating our new payment would be XXXX, we received another letter stating that our payment had been readjusted and would be XXXX as of XXXX. As this was clearly contrary to the letter we 'd just received, we contacted OCWEN yet again requesting verification that this new payment amount was correct. A letter was received on Friday, XX/XX/XXXX via email at XXXX, stating that the increased payment to {$980.00} was due to a term of the mortgage. We then made the payment for {$980.00} via telephone, but due to it being a weekend, they did not process it until Monday, XXXX XXXX, XXXX and it cleared our bank account on XX/XX/XXXX 
We thought all of these issues had been resolved and recently began the process of refinancing our home, only to learn that OCWEN has reported to the credit bureaus that we did not make payments for XX/XX/XXXX and XX/XX/XXXX. When we learned of this, we contacted OCWEN yet again, and informed them that it was absolutely unacceptable that they have receipt of our mortgage payments yet reported the contrary to the credit bureaus. The only answer we received was that they would " have to investigate ''. It took over a month to get a reconciliation of the payments from OCWEN, and it still did not appear accurate, with OCWEN still showing a {$470.00} discrepancy. By this point, we were sick of fighting and we emailed OCWEN XX/XX/XXXX asking who to pay the {$470.00} to, so that this could be resolved. We were advised to make the {$470.00} payment and then the regular payment due XX/XX/XXXX, and then the account would show current. Said payments were made XXXX. OCWEN then reported the account more than 30 days late. 
In summary, we have had this mortgage for ten years as of XX/XX/XXXX and have NEVER missed or had a late payment on the account. Countless phone calls have been made to OCWEN during this time in an effort to resolve what has been one error after another on OCWEN 's part. OCWEN 's fraudulent report of non-payment to the credit bureaus has now adversely effected us by resulting in a lowered credit score for me and my wife. We are aware that OCWEN has settled with the Florida Attorney General 's office for bad faith mortgage servicing practices, but it clearly continues. We respectfully request that this be corrected immediately and that OCWEN be investigated for its ongoing bad faith mortgage servicing practices.

Company response to consumer: Closed with explanation