Consumer complaint received 2020-09-25
Company: Ocwen Financial Corporation
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
Dear CFPB, In XX/XX/XXXX, due to unemployment issues, a mortgage account I held with Ocwen Loans was charged off. The account was sold in XX/XX/XXXX to a company called XXXX XXXX. At that time, I was instructed by Ocwen that they no longer held or managed my account and that all payments were to be made to XXXX. Since, I have been making payments and my account is current with XXXX. 

Last month ( in XXXX ) when reviewing my XXXX  credit report ( See Attached Credit Reports ), I noticed a new, additional charge off noted on my Ocwen acct for XX/XX/XXXX. This month ( XXXX ) two new charge offs were noted for XXXX and XX/XX/XXXX. 

This is a problem as this account was closed and sold my Ocwen in XXXX XXXX and, up until recently ( as per consumer law ) has not been reported on by Ocwen.

Seeing this, I immediately submitted disputes with all three credit bureaus ( See Attached XXXXXXXX  report # XXXX, I currently do not have copies of the other two bureaus reports ). I then wrote an email to Ocwen Loans on XX/XX/XXXX, ( See Attached XXXX email ) detailing my concern and asking for an investigation and correction. 

I received a response on XX/XX/XXXX stating that they could not find a record of my acct. ( although I had already explained that it had been closed ) and to write to their Research dept. The next day, I faxed a letter to their Research dept ( See Attached XXXX letter ). Additionally, I sent another email stating that I had sent a request to Research.

To Note : When first searching for an email address for Ocwen, I visited their website ( ocwen.com ) and learned that Ocwen was requesting that all mortgage correspondence and/or inquiries be directed to a company called PHH ; there is a link on Ocwens website directing mortgage users to PHH 's website ( www.mortgagequestions.com/main ). On PHHs site, I submitted an online form requesting assistance. I also called and spoke with their customer service dept. and this is where I first obtained PHHs direct email address.

As it has been almost two months of phone calls, emails, faxes,  and back and forth with Ocwen and PHH, I can not detail all my communications but, I have provided attachments of my many emails and letters sent to both companies. Also, below is what has been happening over the last several weeks. 

On XXXX XXXX ( See attached XXXX email ) I received an email response which stated that someone from PHHs Research Dept.  would contact me in 10 business day but, no one ever did. 

On XXXX XXXX I received yet another email that someone from their PHHs Escalation Dept. would call me in 2 days but, again, no one ever did ( See attached XXXX email ). 

On XXXX XXXX, I sent yet another email to PHH and to their Escalation Dept. ( See attached XXXX email ) explaining that no one had called me from PHH or from their Escalation Dept., I received no response from PHH. 

At this point, Ive been bounced around to various depts between the two companies, with no result. Ive explained and re-explained the issue I need help with and, as of yet, have received no resolution.

I believe Ocwens/PHH new entries of charge-offs on my credit report are in error. In an original creditor sold the debt to a collection agency, then according to fair credit reporting practices, it should not continue to report a balance owed. Thats double the damage and is not permitted. It, effectively, re-ages the account and would begin the entire 7-year notation cycle at each new entry.

Additionally, it is reporting inaccurate information. PHH reporting that my account is delinquent and or overdue is simply wrong. My account is not overdue with XXXX  and is current and in repayment.

I have notified and requested from Ocwen, PHH and all three reporting agencies a review and/or correction. As is evident from my attachments to this complain, Ive sent numerous emails, made multiple phone calls, written many letters in an attempt to notify all of the situation and to request review and correction. Ive exhausted all avenues to resolve this matter on my own and urgently need your help. 

I believe part of this is simply lack of concern on PHHs end. They are quite aware of the possible damage their error could cause my credit and financial status. Its illegal for a company to knowingly continue to report inaccurate data to a consumers credit report. Yet, this is what PHH appears to be doing. 

I checked my credit report a week ago ( See Attached " XXXX XXXX XXXX XXXXXXXX '' ), and my credit score has dropped over 60 points since before PHHs XXXX, XXXX and XXXX notations of charge-offs on my acct ( See Attached pdfs : " Before PHH entries '' and " After PHH entries '' ). I believe PHHs reporting plays heavily in this credit score drop. Before PHHs entries, my credit score with XXXX  was XXXX, with XXXX  XXXX, with XXXX  XXXX. Now, both my XXXX  and XXXX  scores are below and at XXXX. 

In addition, I was recently denied a loan. The denial stated that this was partly due to recent delinquent accounts. I have no delinquencies other than what has been noted by PHH/Ocwen. 

If you could help me achieving the below corrections and results, I would be extremely appreciative. PHH and Ocwen and or affiliates : 1. Remove the entries from XXXX, XXXX and XX/XX/XXXX from my credit report.

2. Cease and desist current and any future reporting on this account and credit report.

3. Update balance as {$0.00} owing as they have been fully paid for this account and I have no balance.

4. As a good will gesture to help balance damage caused to my credit, remove the original charge off from XXXX XXXX. 

5. Provide compensation, as per Consumer Protection law, of {$1000.00} for each entry in error XXXX XXXX, XXXX and XXXX ) reported to my account ( See attached credit reports ) and/or other compensation.

6. Send a letter to each three credit bureaus, explaining the error in their reporting and include a formal request to remove these and any subsequent errors and to ignore subsequent, future reporting on this account. 

7. Most importantly, as XXXX XXXX, per their policy, will not be reporting on this account until fully paid, prevent any retaliatory action by PHH/Ocwen to initiate or pressure XXXX to report this account. 

As to my request for compensation, as I noted above, PHHs erroneous reporting has caused significant damage to my credit and finances. It has cost me significant time, stress, and worry, on top of financial loss of a loan. With companies that seem to have so little regard for their actions, I believe the only real recourse to affect change and make these companies follow the low, is by affecting them financially. 

I believe compensation as per the consumer protection laws is appropriate in my case. 

I urgently need help resolving this matter. Ive worked hard over the years to improve my credit and meet my financial obligations and become a better consumer. I am disheartened and frustrated that PHHs and Ocwens mistake and disregard for their obligation of fair reporting, has marred my credit. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation