Consumer complaint received 2026-06-24 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: Ocwen Financial Corporation
State: FL

Complaint narrative:
Complaint Against Mortgage Lender Regarding Misleading Promotion and Failure to Disclose Material Terms I am submitting this complaint regarding a promotional offer advertised by my mortgage lender, which stated that if they could not meet or beat a competitors loan offer, they would provide a gift card equal to my first principal and interest payment, up to {$2000.00}. During my interaction with the companys representative, I explicitly referenced this promotion and asked about it directly. I also clearly explained that I had received a significantly lower rate offer ( approximately 4 % ) from another lender and asked if they could match or beat it. The representative acknowledged my inquiry and responded by asking me to send the competing offer so they could review it and see what they could do. At no point during this conversation did the representative disclose any limitations, exclusions, or conditions associated with the promotion. Importantly, I made it clear that the competing offer involved Servicemembers Civil Relief Act ( SCRA ) benefits and was associated with another lender. I later provided documentation supporting this, including proof that clearly identified the competing lender, which is a credit union. Despite having this information, the representative never informed me that credit union offers would be excluded from the promotion, nor did they indicate that my documentation would not qualify. Instead, I was repeatedly told that the documentation I provided was not sufficient, without any clear explanation of what specific requirement was not being met. After the fact, the company is now asserting that I do not qualify for the promotion due to terms and conditions that were never disclosed to me during my interaction with their representative. They have also stated that they never directly offered the promotion to me. However, this response confirms that my understanding of the promotion came entirely from their representative, and that I was not provided with the official terms or conditions at the time of my inquiry. As a result, I reasonably relied on the information provided during our direct communication. If the promotion contained material limitationssuch as exclusions related to credit unions or specific documentation requirementsthose terms should have been clearly and explicitly disclosed at the time I inquired about the promotion, especially after I provided details about the competing offer. By failing to disclose these key eligibility requirements while actively engaging with me about the promotion and encouraging me to submit documentation, the company created a misleading impression that the promotion applied to my situation. I have also provided screenshots of my communications with the companys representative, which demonstrate that : I explicitly referenced the promotion I disclosed the nature of the competing offer The representative encouraged me to submit documentation No exclusions or disqualifying conditions were communicated I believe this constitutes a failure to properly disclose material terms and conditions, and a misleading representation of a promotional offer. Desired Resolution : I am requesting that the company honor the promotional offer as it was presented to me during my interaction, or otherwise provide an appropriate resolution consistent with the advertised terms. Additionally, I request that the company be required to clearly disclose all material terms and exclusions in future promotional offers to prevent similar situations for other consumers.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation