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The Water Cooler
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OCWEN Loan Service
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<blockquote data-quote="cmhbob" data-source="post: 2392372" data-attributes="member: 20220"><p>If you can refi away form them, do it. Do it NOW. Ocwen isn't really a mortgage company. They buy loans at risk of default. They act like a collections agency from the get-go.</p><p></p><p>We had 2 loans through a company years ago. Loans being paid by a trust fund. 2 loans, so 2 checks from the trust, each with the loan number on the check.</p><p></p><p>Loans were sold to Ocwen. Somehow, the loans were transferred while being processed, so to Ocwen, it looked like one loan was a month behind. We suffered through 2 years of phone calls every month about the loans. And every call was the same, with us explaining that there were two checks coming from a bank in Ohio. It was like no one ever took notes on the call, and no one ever read anything from the preceding call. </p><p></p><p>And while I don't think there should be a ban on selling commercial paper, there need to be better safeguards in place for the consumer. I put forth effort to get the best deal on my loan, including who takes care of me the best. But that call goes in the crapper when it's sold.</p></blockquote><p></p>
[QUOTE="cmhbob, post: 2392372, member: 20220"] If you can refi away form them, do it. Do it NOW. Ocwen isn't really a mortgage company. They buy loans at risk of default. They act like a collections agency from the get-go. We had 2 loans through a company years ago. Loans being paid by a trust fund. 2 loans, so 2 checks from the trust, each with the loan number on the check. Loans were sold to Ocwen. Somehow, the loans were transferred while being processed, so to Ocwen, it looked like one loan was a month behind. We suffered through 2 years of phone calls every month about the loans. And every call was the same, with us explaining that there were two checks coming from a bank in Ohio. It was like no one ever took notes on the call, and no one ever read anything from the preceding call. And while I don't think there should be a ban on selling commercial paper, there need to be better safeguards in place for the consumer. I put forth effort to get the best deal on my loan, including who takes care of me the best. But that call goes in the crapper when it's sold. [/QUOTE]
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