Consumer complaint received 2015-04-28
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: Onity Group Inc. (MS)

On XXXX XXXX, XXXX, I submitted the first of XXXX requests to OCWEN for a loan modification with details explaining the financial hardship that I was under due to XXXX 10 % pay cuts due to downsizing within the company I am still employed. I was pleading for assistant by way of reducing the 10.37 % Interest Rate so that I could afford the monthly payments on a property that I was assisting a homeless family member with a place to live. When the application was denied, I realized shortly after the several conversations with the Representative assigned to my case, I had listed my 'take home pay ' in XXXX separate areas of the Making Home Affordable Program Request for Mortgage Assistance application. I requested to reapply although OCWEN had complete application which included the Form XXXX ( Short Form Request for Individual Tax Return Transcript ), Pay Stubs before and after XXXX 10 % pay cuts they validated my gross and net income. Then shortly after XXXX XXXX, XXXX I received notification from OCWEN that the loan that I thought was for 30 years was due to mature on XXXX XXXX, XXXX. I honestly thought the loan was for 30 years. However, right away I contacted OWEN by telephone to request assistance in repaying the loan. They sent another Making Home Affordable Program Request for Mortgage Assistance application, which was completed and submitted with my most current pay stubs verifying financial hardship still in place. The Representative requested financial information from the family member. The family member is not a co-borrower and did not consent to giving their information since they worked odd and in jobs when they could and they gave me what money they could when they could. I spoke XXXX with the Representative regarding the situation and stated repeatedly that there was no way I could come up with the full payment on XXXX XXXX, XXXX. At no time during any of the many telephone conversations did either Representative disclose to me any other options to obtain a loan modification with OCWEN. My pleas for assistance was to no avail and subsequently the application was denied a XXXX time. In the meanwhile, OCWEN sent out an XXXX during XXXX XXXX and issued documentation of the estimated value of the property as compared to other properties in and around the area. It was determined that the XXXX old property did not comparably have a value equal to the amount owed due to a 15 % depreciation rate. Once again I reached out to OCWEN by telephone for a home modification. The Representation referred back to the notes in my file that I had not provided the family member 's income information and stated that they could not reopen my application without that information. He scheduled a XXXX XXXX, XXXX ( XXXX ) telephone appointment we. On XXXX XXXX, XXXX I received a Certified Letter from OCWEN requesting full payment on or before XXXX XXXX, XXXX. I called OCWEN again and talked to a difference Representative giving her my three-year story. She agreed that the other Representative should not have requested the family member 's information since they we not a co-borrow and then asked if I have made a 'Settlement Offer ', which she explained could be as low as 10 % of the amount owed. This was the first time this option was ever mentioned to me. During the XXXX XXXX, XXXX appointment I asked to make the 10 % Settlement Offer and was told that that option was only available prior to the maturity date and therefore I would not qualify. This my compliant against OCWEN for not disclosing the Settlement Offer between XXXX XXXX and XXXX XXXX.