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Ocwen Financial Corp.
Ocwen Financial Corp.
Overall Satisfaction Rating
4.16/5
  • 5 stars
    297
  • 4 stars
    32
  • 3 stars
    10
  • 2 stars
    6
  • 1 stars
    73
Based on 418 ratings submitted in the last yearSHOW RATING DISTRIBUTION

Ocwen Financial Corporation/Homeward Residential, Inc.

West Palm Beach, FL

ConsumerAffairs Accredited Brand

Ocwen Financial Corporation (Ocwen) is one of the leading mortgage servicing companies in America. We provide caring customer service and innovative mortgage solutions that help customers save money, build equity, and most importantly stay in their homes. Through our lending affiliate, Homeward Residential, Inc. (Homeward), we help customers refinance or buy their next home with HARP, Fannie Mae, and FHA mortgage options.

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Last updated: May 26, 2018

2769 Ocwen Financial Corp. Consumer Reviews and Complaints

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Verified Reviewer
Original review: May 25, 2018

I never heard of Ocwen before. My mortgage was sold to them almost six years ago. They have impressed me every step of the way ever since. Ocwen has always impressed me with their knowledgeable staff and continuous Professionalism. Great work.

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Resolution In Progress
Verified Reviewer
Original review: May 23, 2018

I posted two complaints on the BBB website about this horrible company. They posted a comment back asking me to call their ombudsman. I called the ombudsman and she had no idea why I was calling. There was nothing in my file about this complaint, the previous BBB complaint or all the complaints I made to various supervisors. She kept putting me on hold to look things up because obviously nothing was written down. This is the customer service you get with OCWEN. And when I told her, her company should identify themselves first before asking a homeowner to do so, she said that's the way it works.

So, you get a call from something that sounds like a call center from a foreign country and they won't say who they are until you tell them first. Which people obviously don't want to do because you are not supposed to identify yourself to someone who may be running a scam. Run from this company if your mortgage company sells your mortgage to them (that's how I got unlucky) and if you are just searching for a new company, do not choose OCWEN.

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Ocwen Financial Corp. response

Steven, we sincerely apologize for your frustration, and we appreciate the opportunity to address your concerns. I do see that our Ombudsman team is in the process of reviewing your case, but please let us know if you need additional assistance.

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Verified Reviewer Verified Buyer
Original review: May 23, 2018

During the housing crisis my mortgage was taken over by Ocwen when the previous mortgage company went under. That same housing crisis hit us hard in Florida. I am a painter, tied to construction, work was practically nonexistent and having family with kids, the finances were a constant juggling act. We got behind in the mortgage, times were very hard. Finally work stabilized, the economy was picking up and we were back on our feet. During that time Ocwen worked with me on a loan modification. It was a lot of paperwork and jumping through hoops and waiting for a decision. The whole process took 6-8 months in all but it was well worth it.

I had heard and read some not so good things about dealing with Ocwen and was a bit apprehensive, but I had to be optimistic so I started the paperwork. Now it wasn't easy and the paperwork is meticulous. I kept having to supply updated pay stubs and such during the review, it was stressful to say the least. However Ocwen was always on top of things and did what they said they would do. I got my mortgage back on track and my family still lives in the only home our kids have known, that's priceless. I have nothing but good things to say about my experience dealing with Ocwen.

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Ocwen Financial Corp. response

Thank you, Bruce, for taking the time to share your positive experience with Ocwen! We are here to help our customers, and we're glad we were able to assist you with a modification.

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Verified Reviewer
Original review: May 22, 2018

Ocwen was very understanding and very attentive to my concerns. The representative kept me informed in everything that was needed to solve my needs. This is truly hard to find in companies. I would recommend Ocwen to family and friends.

Ocwen Financial Corp. response

Thank you, Angalis, for your feedback and recommendation! Ocwen is here to help our customers, and we're pleased to hear our representative provided you with a positive experience.

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Verified Reviewer
Original review: May 22, 2018

Telephone communication was about the mortgage insurance policy on **. Ocwen was informed that Farmer's Insurance company was replaced by AAA Insurance company. The Ocwen representative was professional, courteous, and helpful.

Ocwen Financial Corp. response

Thank you, Nora, for your positive feedback! We're happy to hear you are pleased with the service provided by our Ocwen representative.

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Verified Reviewer Verified Buyer
Original review: May 20, 2018

People are always friendly and helping wherever they can. Sometimes repeat calls like in my case get a bit much but I do understand. I wish calls on the weekend would be after 10 am Eastern instead of 8:00 am.

Ocwen Financial Corp. response

John, we are here to help our customers, and we appreciate the time you spent to share your experience. Ocwen takes customer feedback seriously, and we always appreciate the opportunity to improve our customer service. I did check into this to see if there was something we can do regarding the calls; unfortunately, there is not. We sincerely apologize for the inconvenience.

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Verified Reviewer
Original review: May 20, 2018

I asked for a waiver to a late payment that was a day late. A good job was done and handled well. I am wondering how I can mail you my check on the morning of May 9th and as of today May 19th you haven't taken it to account. Beyond frustrating as I will now get another late charge. I wish my bill were able to be due on the 15th of the month and we'd never have an issue. Please help.

Ocwen Financial Corp. response

Marty, thank you for your feedback. We're here to help our customers and we apologize for your frustration. Your account has been assigned to our Ombudsman team and they will be in contact with you to discuss this further.

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Resolution In Progress
Verified Reviewer
Original review: May 19, 2018

After my Dad passed, we inherited a number of real estate holdings. We formed an LLC and placed all of the properties into it. As soon as OCWEN found out about my father's death, they changed the name on the mortgage to "Estate of..." We tried for several months, to get the name on the mortgage changed to the name of our LLC, but Ocwen kept insisting that we could not change the name on the Mortgage without my deceased father's signature.

Of all of the accounts, mortgages, etc. that my dad had, OCWEN was to only one that demanded a signature from a dead man. The only thing that OCWEN was willing to do, was to keep accepting our payments. There is no way that I will ever do business with OCWEN in the future. No way in... And then on top of that, they keep sending me emails, even though I have "Unsubscribed" several times.

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Ocwen Financial Corp. response

Donald, we value your feedback and we sincerely apologize for your experience with Ocwen. We appreciate the chance to resolve any issues that our customers may have. If you need our assistance in stopping the emails you receive from Ocwen, please send a private message with the property zip and full name on account and we will contact you.

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Resolution In Progress
Verified Reviewer
Original review: May 18, 2018

I called concerning a letter I received concerning notice of ownership transfer of your mortgage loan. Cory was very friendly and courteous and explained the letter to me. Then I received a letter stating loan # ** must be paid in full by 12/01/2018. The second letter convinced me that either YOU are not happy with the way I paid the mortgage payments or you are you would not want to loan me any money in the future. I will be glad when the note is paid off on 12/01/2018 then I will no longer have dealings with OCWEN.

Ocwen Financial Corp. response

Benny, thank you for your feedback. Ocwen is here to help our customers, and we're glad to hear Cory was able to assist you. We do, however, apologize for your experience with the second communication you received. I have forwarded this to our Ombudsman team and they will be in contact with you to discuss this further.

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Verified Reviewer
Original review: May 17, 2018

Representatives were understanding and polite as well as very knowledgeable. The first one explained who he would be transferring me to and stayed on the line to assure contact was made. The next person very clearly explained everything I needed to know and how to address my situation. These days, this is much appreciated. Thank You.

Ocwen Financial Corp. response

Robert, thank you for taking the time to share your positive feedback! Ocwen is here to help our customers, and we're glad you received the assistance you needed from our representatives.

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Verified Reviewer Verified Buyer
Original review: May 16, 2018

In the past year, I do not have any problem at all in dealing with Customer service representative. I was able to communicate my needs. I know that there were times that I made the payment late, but when I called they seemed to understand. I feel that your staff care about their client.

Ocwen Financial Corp. response

Thank you, Khambay, for the positive feedback! We are here to help our customers and we appreciate the time you spent to share your feedback.

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Verified Reviewer
Original review: May 16, 2018

The associate who assisted me with my questions was very polite, courteous and knowledgeable with responses to my questions asked. That tells me, Ocwen provides excellent public relations training classes to their hired associates. His professionalism and conduct reflects on the training Ocwen provided.

Ocwen Financial Corp. response

Thank you, Ming-Toy, for taking the time to share your positive feedback. It is our goal to provide an exceptional customer experience, and we're delighted to hear you are pleased with the service provided by our associate.

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Resolution In Progress
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Verified Reviewer
Original review: May 15, 2018

The conversations that I have had with Ocwen has been unsuccessful. Due to cancer in my family I'm trying to get a lower interest rate. They keep telling me I'm sending the same info as before when that is not true. Ocwen has not been a help to me and my daughter with the Mortgage. There are more lenders on my mortgage that I discovered.

Ocwen Financial Corp. response

Marjorie, we sincerely apologize for your experience with Ocwen and we appreciate the opportunity to address your concerns. Your information has been forwarded to our Ombudsman team and they will be in contact with you to discuss this further.

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Verified Reviewer Verified Buyer
Original review: May 15, 2018

The best service bank thanks. Number in the United States. Is the best on help your situation. Thanks again for the service you have for us. Every time you can count on you year after year for everyone if they problems. Thanks Ocwen Bank.

Ocwen Financial Corp. response

Thank you, Damarys, for the positive feedback! We are here to help our customers, and we appreciate the opportunity to work with you.

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Verified Reviewer
Original review: May 15, 2018

I recently applied for an equity loan with another company, only to find out that the company could not verify the Title was "Clean" or "Clear". I reached out to Ocwen and they cleared it up for me -- yet, I'm not sure the other company was willing to accept Ocwen explanation; so, I mailed them a complete copy off the HAMP Approval and Subordinate Note that extended and Amended the original Deed/Title. After this experience, which I spent $495 for an appraisal; I would recommend anyone who was approved for a Modification Loan to check their Deed and Title to ensure it is clean and clear because apparently many companies do not want to hold more than the second lien in any property when applying for an equity loan.

Ocwen Financial Corp. response

Thank you, Gary, for the positive feedback! We are here to help our customers and we appreciate the time you spent to share your feedback.

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Resolution In Progress
Verified Reviewer
Original review: May 14, 2018

I requested help with my Mortgage in 2005. I was given an adjustable rate and new 10 Year mortgage without my authorization. I have requested proof of serving rights and proof of payments. Never received. I'm in Kidney Failure and Heart Failure and they have scheduled the foreclosure sale without mediation. Help.

Ocwen Financial Corp. response

Robert, Ocwen takes all customer feedback very seriously and we appreciate the opportunity to address your concerns. Your information has been forwarded to our Ombudsman team so they can review your account and contact you to discuss further. Thank you.

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Resolution In Progress
Verified Reviewer
Original review: May 11, 2018

Ocwen Financial Corp is a predatory lender. They will manipulate the rates without your approval and increase monthly payments without knowledge. Please beware. I will never go through them or recommend them.

Ocwen Financial Corp. response

Lora, Ocwen takes all customer feedback very seriously and we apologize for your experience. This information has been assigned to our Ombudsman team and they will be contacting you to discuss further. Thank you.

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No response received
Verified Reviewer Verified Buyer
Original review: May 4, 2018

To close out escrow/taxes - I have to wait 6 years to do this. 6 years that is too long for seniors to wait. Main object is to pay my house down and try to have extra money to live on. 6 years just too long. Just don't want house to be paid off so you can collect interest. This is just not fair for seniors. No help from anyone mortgage companies or the government...

Ocwen Financial Corp. response

Sylvia, we take customer feedback very seriously and we appreciate the opportunity to address your concerns. Our Ombudsman team will be in contact with you to discuss this further.

2 people found this review helpful
Verified Reviewer Verified Buyer
Original review: May 1, 2018

Ocwen went out of their way to help us rework our mortgage. I have a tenant who is waiting for disability and has been unable to pay--I was making payments on my own until November when I could no longer do so. Ocwen gave me time I needed to resolve my issues and helped me by lowering my interest rate and reinstating my mortgage. Thank you very much!

Ocwen Financial Corp. response

Thank you, Thomas, for your review! We appreciate the opportunity to work with you, and we're glad we were able to help you rework your mortgage.

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Resolution In Progress
Verified Reviewer Verified Buyer
Original review: April 30, 2018

Four months in a row we paid additional principal - clearly marked on the payment stub. EVERY time we would get a statement showing that the funds were not applied to principal. Each and every time we'd have to waste an hour or so to call the representative and have the funds applied to principal. With the consistency of the error it seems intentional and with so many customers likely a lucrative mistake to make. So frustrating.

Ocwen Financial Corp. response

Darlene, Ocwen takes all feedback very seriously, and we sincerely apologize for the frustration you experienced.

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Verified Reviewer
Original review: April 30, 2018

We had wind damaged done to our dwelling due to a severe wind storm that went through our area. We need the loss check endorsed by the mortgagee. They were very friendly and fast with getting this done for us and returned so we can get a contractor to repair the damage.

Ocwen Financial Corp. response

Thank you, Susan, for taking the time to share your positive feedback. We are here to help our customers, and we're glad to hear we were able to quickly process your loss draft check so you can get the needed repairs done.

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Verified Reviewer
Original review: April 26, 2018

I called to update contact information. I was unable to change it via the web site. I was curious as to why old phone numbers would re-appear on account. Some numbers were deleted - I never had those numbers. Interesting. Customer service rep. was polite and helpful.

Ocwen Financial Corp. response

Thank you, Elizabeth, for taking the time to share your feedback. If there's anything further you need assistance with, please send us a private message, and our Ombudsman team will contact you.

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Verified Reviewer
Original review: April 24, 2018

The Customer Service Rep was very knowledgeable and extremely courteous. He was able to set up my payment by phone and answered a couple of other questions I had. I would highly recommend Ocwen to others.

Ocwen Financial Corp. response

Thank you, Sharon, for your review and recommendation! We are here to help our customers, and we're glad to hear that you are happy with the service provided by our Customer Service Rep.

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Verified Reviewer Verified Buyer
Original review: April 23, 2018

I love this company. They always help customers and company’s employees is very good and friendly. They help customer a lot. I had a mortgage problem and employee name was Asif. He helped me top to bottom. He supports me for my modification since last couple months. He was calling me and help me. Thanks for everything.

Ocwen Financial Corp. response

Sultana, thank you for taking the time to share your positive feedback! It is our goal to provide an exceptional customer experience, and we're delighted to read your feedback about the service provided by Asif. I will be sure to share your comments with him.

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Verified Reviewer Verified Buyer
Original review: April 19, 2018

I was told that some info was sent to me about furthering my Loan Mod. I never received it. Was told that it was denied. No info was sent to my attorney. I asked the rep if he can sent it again. He told me that he could only send it to my attorney. So why wasn't that done in the beginning. I could not speak to anyone until my attorney sent out an authorization that I could speak on my behalf. I sent my payments out. I asked for a letter stating that my Loan Mod trial was complete. Received it. But I could not speak on my behalf until Ocwen received the authorization. Now I'm waiting on a reversal. I wouldn't stop at send monetary payment but stop at paperwork. Need help please.

Ocwen Financial Corp. response

Dwayne, Ocwen takes customer feedback very seriously, and we apologize for your experience. Your account has been assigned to our Ombudsman team to review and they will be in contact with you to discuss this in further detail.

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Verified Reviewer
Original review: April 18, 2018

Ocwen, provided fantastic, courteous, accurate financial information on my current mortgage while maintaining a complete understanding of the situation the clients are experiencing. I value their continued consideration and always will recommending Ocwen in a positive manner.

Ocwen Financial Corp. response

William, thank you for taking the time to share your feedback about your experience and for your recommendation. It is our goal to provide an exceptional customer experience, and we're delighted to read your feedback about the service provided.

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Verified Reviewer
Original review: April 18, 2018

I am very happy with the way Ocwen helped me keep my home and their understanding of my situation. I almost lost my home and Ocwen was willing to work with me and my situation. Currently I am working on a payment plan and hope to be back on track within a couple of months. I always had great customer service except one time with a female but everyone else was very understanding.

Ocwen Financial Corp. response

Thank you, Anna, for your positive feedback. We are here to help our customers and we're glad to hear we were able to assist you with your situation.

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Verified Reviewer
Original review: April 17, 2018

Thank you for hiring the best customer service representatives. Ocwen, thank you for never making me feel intimidated, or afraid, your employees have never pass judgement or made me feel like I don't deserve my home. You guys are the BEST! Thank You.

Ocwen Financial Corp. response

Thank you, Margie, for your positive review! We are here to help our customers, and we're delighted to read your feedback.

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Verified Reviewer Verified Buyer
Original review: April 17, 2018

The customer service agent was fast, efficient, very knowledgeable, pleasant, and explained even more than what I asked. She was able to explain all aspects of my loan including the Hamp incentive and escrow fees.

Ocwen Financial Corp. response

Thank you, Linda! It is our goal to provide an exceptional customer experience, and we're delighted to hear you're happy with the service provided. We will be sure to share your comments with the customer service agent you spoke with.

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Resolution In Progress
Verified Reviewer Verified Buyer
Original review: April 17, 2018

I only have two complaints: 1) at the end of my mortgage I have several "balloon" payments, which at this time I don't see how I can make, 2) when my principle is reduced because of good payment record, it is implied to the IRS that I have been given cash that I need to pay taxes on. Not true. I have been given no cash.

Ocwen Financial Corp. response

Brian, Ocwen takes customer feedback very seriously and we appreciate the opportunity to address your complaints. Your account has been assigned to our Ombudsman team to review your account in detail and contact you to discuss your concerns.

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Ocwen Financial Corporation/Homeward Residential, Inc. expert review by Michele Lerner

The loan servicing wing of this financial company is one of the largest mortgage companies in America. The company provides lending solutions including home loans, investment property loans and reverse mortgages to residential and commercial customers.

  • Online application: Interested borrowers can submit a simple form online to get started finding the right loan for their needs. Once they’ve found the right loan and applied, they can check their application status online.

  • Homeowner resources: The website has several resources for homeowners and homebuyers to explore including a convenient mortgage rate comparison table that allows consumers to determine which type of mortgage will work best for them.

  • Free mortgage assistance solutions: The company offers help for homeowners trying to avoid foreclosure, such as help with listing a property for sale, transferring the deed to the property in exchange for debt forgiveness and settling debt through foreclosure alternatives.

  • REO property listings: The website includes listings of their real estate owned (REO) properties. Interested buyers simply input their desired area code to find and bid on homes for sale in that area.

  • Commercial mortgages: Commercial mortgage services include default management and small balance portfolio management.

  • Best for: first-time homebuyers, real estate investors and homeowners looking for mortgage solutions to save money on their current home.

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Michele Lerner

Mortgage & Real Estate Contributing Editor

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Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.

Ocwen Financial Corporation/Homeward Residential, Inc. Company Information

Company Name:
Ocwen Financial Corporation/Homeward Residential, Inc.
Year Founded:
1988
Website:
www.ocwen.com

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