Consumer complaint received 2015-08-23 00:00:00
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: Ocwen Financial Corporation
State: FL

Complaint narrative:
Due to the crash of 2008, inflicted by the collusion of XXXX XXXX and the Banks, my investment property and at the time I thought my families retirement account, and formerly my homestead, was served foreclosure papers. After being turned down for fake and coerced loan modifications with the bank, I hired a law firm to defend myself. The bank conceded that they did not have the note or mortgage but filed anyway. As we all know, it is referred to a " Lack of Standing ''. Since the banks stalled the case for XXXX years and hired multiple law firms who consistently withdrew as court dates neared { I am paying the law firm all this time } the case has finally made its way to the court room this year. 
Recently, I was offered a Loan Modification, through the banks attorneys and the servicer. 
I was told it is a XXXX time offer and non negotiable. The problem is and was, the offer was for a principle amount that is approximately {$100000.00} too high. Their valuation of the house is totally inflated and obviously would re create another underwater loan as soon as I signed it. I contacted the servicer, Ocwen, with the simple question of, " How did you come to this valuation without ever entering the house or yard? '' Do you know the condition and needed repairs, etc '' Do you know that it is a half lot with no pool and the XXXX floor is wood frame? I was never given an answer that made any sense at all. I stressed to Ocwen and my attorney that the terms were perfectly acceptable, interest, term of loan, etc, except that the valuation was totally out of line. The result is an impending court date instead. 
To make matters worse, Ocwen sent me a bill saying I am already two months late on the loan modification before the deadline to accept and BEFORE I declined! Obviously they deliberately inflate the value and have no intentions of a loan modification or they would be open to discussion. It 's not a settlement, it called strong arming. Take my offer as I say or else! It is exactly what they did to me XXXX years ago. 
An even bigger scam is the lender placed insurance! How is it a company as big as they are ca n't get better terms of insurance than XXXX times the going rate than a time buyer? Clearly, they can negotiate a discounted buy rate based on the number of policy 's they buy instead of XXXX XXXX times the retail rate. Here 's the real kicker, in Florida, only " XXXX XXXX '' offers the hazard policies, which is what the banks buy too!! 
So they are buying the exact same policy from the exact same party as the home owner but charging XXXX times the rate to run up the bill for their investors who they ripped off.. The only reason they do n't do it for the taxes is the bill is transparent and they would be jailed!! This has to be stopped. I was XXXX old when this started and never missed a payment or bought more than I could afford in my entire life. If the bank would not have insisted that their appraiser due the appraisals and created the greatest Ponzi scheme in history, I and XXXX of others would not be in peril and writing to you today. We used to be the backbone of this country, now we are the viewed as the scourge of society. Please Help!!!!

Company response to consumer: Closed with explanation