Consumer complaint received 2019-08-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Ocwen Financial Corporation
State: NJ

Complaint narrative:
I would like to prevent others who have a mortgage or could have one in the future form being stuck with PHH Mortgage. I closed on my home in XXXX and had 2 mortgages- one a larger dollar amount, 30-year term loan and the other a smaller 15 year-term loan. I have faithfully paid both mortgages on time every month, even in XXXX when I was laid off from my job with XXXX XXXX in XXXX, NJ due to the company being acquired by XXXX ; it took me almost a year to find a job. Recently I have had the good fortune to have been able to pay off several student loans as well as my credit card debt. I am now working on my mortgage debt and paid off the smaller mortgage balance on XX/XX/XXXX ( {$1200.00} ). I paid it off online as that is how I always make my payments on this loan. Nowhere does it say a customer needs to call to get a payoff code generated, and that a check can not be sent that it needs to be a cashier 's check or certified check. The payment was deducted from my checking account on Tues. XX/XX/XXXX. Using the PHH mortgage online system, it ways the payment was received on XX/XX/XXXX. However under the messages for my mortgage, a message dated XX/XX/XXXX, says that the payment was applied into a suspense or holding account and that the cash management team will review this and apply accordingly within 24 to 48 hours. You will receive a new e-mail alert and message ones this amount is applied. '' I received no such notification as promised by their own stipulated review date and my account for this mortgage is still showing a balance for the amount that I paid XX/XX/XXXX. I called about this Monday XX/XX/XXXX and was told for the first time by XXXX ( id XXXX ) that to pay off the loan I had to call to have a pay off code generated and that the payment must be made by cashier 's or certified check. When I said that I just wanted my money returned to me and I would pay it off by paying my usual monthly payment, I was told that would take up to 10 business days, When I said that was unacceptable and far too long, I spoke to someone named XXXX ( ID XXXX ) who said she'd be able to waive the requirement for a cashier 's check and have it applied and would look into it and let me know if there was any additional balance that needed to be paid off prior to the payoff letter being generated. I was told she'd call me back within 24-48 hours ; she gave me a generic number with no extension to reach her. She ended up calling today and left a voicemail message stating to call her back with no other information. I had to wait 24 minutes on hold only to find out she was not available. The man I spoke to looked at the account and said she called to tell me there was no new news on the account and that she was on it. In all it took me 34 minutes to find out I was in the same place as I have been and I am still out the money I have paid them. Could you please look into this on my behalf and publicize the poor business practices of PHH mortgage? Thanks so much

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation