Consumer complaint received 2016-11-09
Company: Ocwen Financial Corporation
State: NY
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
We are writing you to express our displeasure in the handling of our mortgage account by Ocwen. Since Ocwen has acquired our loan as of XXXX XXXX of XXXX, it has not been a rewarding experience on any level. Some of Ocwen 's correspondence reads ; " At Ocwen, we strive to provide service that will exceed your expectations. We are here to build a mutually beneficial relationship, rectify any problems, resolve and issues, and assist you with your needs '' Unfortunately, Ocwen has not made good on those stated promises. 

Ocwen 's negligence in handling my loan has had a profound effect on our well-being and pursuit of happiness. We have been constantly denied for credit due to a low credit score mostly attributed the derogatory information erroneously placed by Ocwen in our credit report. We are currently paying astronomical interest fees on our accounts and are struggling to keep up with payments that have fallen behind. We had to lower our food budget to {$50.00} a week for a family of XXXX. We have taken drastic measures to keep our mortgage current, including delaying payments to other creditors. 

We have written and called several times with no resolution from Ocwen. Please note that around the time the modification, in XXXX, we experienced a major job loss. We also experienced a traumatic event with the premature birth of our daughter who spent over XXXX months in the XXXX. To add insult to injury we were hit with a hefty medical bill that we were forced to pay by Hospital lawyers. In spite of all these major challenges, we kept up our side of the agreement and made on time payments. 
During the time of the modification process, we called in to let Ocwen know of my challenges without any care or concern from them. I even asked Ocwen in good faith to credit the late fees and Ocwen declined. A request for escrow suspension was attempted several times to no avail. Even after the modification process was completed, I kept up constant communication with Ocwen asking for resolution to no avail. Ocwen took as much time as they wanted to process the modification while reporting our payments delinquent. There were over a year 's worth of delinquency unfairly reported. I was also informed that many of our payments during the modification process were miss-applied although we were faithful with our payments. 
We are having a hard time comprehending how a company entrusted with so much wealth could in conscience rob the very people they claim to " help ''. If anything, Ocwen has helped us into debt, stress, and overall lack of quality of life. If our perils were n't enough, we experienced yet another major reduction in our income as of XXXX XXXX and yet we still struggled to pay the mortgage to date until the most recent increase caused us to fall behind. 
Prior, Ocwen notified us of the opportunity to file for recast as provisioned in the HAMP program. We sent the recast to Ocwen on XXXX XXXX, XXXX. Ocwen sat on the paperwork for months and the recast was not processed till XXXX XXXX. The recast was short lived as of XXXX XXXX, the payments were increased. In addition, a letter was sent by Ocwen notifying us of an escrow shortage and yet another increase would commence in XXXX XXXX. 

We are therefore seeking to understand what is Ocwen 's underlying intention. Are they seeking make conditions favorable to them in order to usurp our property after 10 years of hard work and labor to maintain payments? 
There is no way Ocwen could repay us for all the years of sleep deprivation, anxiety, burdens and financial duress. We are however, asking you in good faith to discharge the loan. We are giving Ocwen an opportunity to prove to us that they exit " to build a mutually beneficial relationship, rectify any problems, resolve and issues, and assist you with your needs ''

Company response to consumer: Closed with explanation