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April 22, 2017

Here's a detailed breakdown of Ocwen's new restrictions by state

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A deeper dive reveals what Ocwen can and can’t do going forward April 21, 2017 Ben Lane http://www.housingwire.com/articles/39932-heres-a-detailed-breakdown-of-ocwens-new-restrictions-by-state The servicing issues at Ocwen Financial are allegedly so widespread that some states are placing stricter restrictions on the nonbank, beyond freezing the company’s ability to acquire new mortgage servicing rights. On Thursday, a group of state …

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Sub-Prime Mortgage Servicer Ocwen fabricates Mortgage Documents

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Ocwen is the bottom-feeder of mortgage servicing companies.  Most survey’s rank Ocwen as the absolute worst in customer service and accountability including consumer research by J.D. Powers.  Ocwen acts as a debt-collector and our experience at LendingLies is that Ocwen often cannot identify the true creditor or provide any documentation demonstrating who owns the loan.  …

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Ocwen admits its substandard servicing is standard in Industry

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By K.K. MacKinstry/Lendinglies During the Multi-State Mortgage Committee’s investigation, Ocwen made an accurate revelation when attempting to justify charges of mortgage servicing failures by claiming that its servicing policies are comparable to other mortgage loan servicing operations.  Truer words have not been spoken, and the entire mortgage loan servicing industry is in shambles because servicers …

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David Dayen: The CFPB Just Sued a Crooked Mortgage Servicer, but Indicted Itself

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The lawsuit against Ocwen is welcome, but should have happened four years ago. By David Dayen In December 2013, the Consumer Financial Protection Bureau and 49 states issued a $2.1 billion consent order against Ocwen, one of America’s largest mortgage companies, for “violating consumer financial laws at every stage of the mortgage servicing process.” Three …

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