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Ocwen Financial Corp.
Ocwen Financial Corp.
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(844) 325-9165
Overall Satisfaction Rating
4.02/5
  • 5 stars
    155
  • 4 stars
    12
  • 3 stars
    4
  • 2 stars
    3
  • 1 stars
    48
Based on 222 ratings submitted in the last year
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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.

2991 Ocwen Financial Corp. Consumer Reviews and Complaints

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 17, 2019

I had paid off my Mortgage about 4 years ago and couldn't find the pay off deed. I had the approximate year and the mortgage Number, but no other info. Within 5 minutes, I was provided with the necessary information and how it would be sent in the mail. Problem resolved.

Ocwen Financial Corp. response

Thank you, Vincent, for taking the time to share your positive feedback with Ocwen. We are glad to hear we were able to assist you in locating your payoff deed.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: April 17, 2019

DO NOT use this mortgage company unless you want 15-30 years of misery and stress. They do NOT answer emails, phone calls, or any questions in a timely manner that helps to avoid late charges or foreclosure. They are in it only for the $$$. They do NOT care about circumstances of ANY kind or reason. You need a passport to talk face to face with customer service of this "company". What happened to good AMERICAN companies that don't try to make hard working Americans fail. I will NEVER buy a house again after dealing with this company. The ineptness of their customer service is rated to that of a mob hitman as in they have ONE goal. To make YOU FAIL at owning a home with outrageous interest rates (changed every 6 months whether fixed or ARM). Beginning to believe the American dream is to just travel. Don't OWN anything other than a car. They have shot my thoughts of a dream all to **.

Ocwen Financial Corp. response

We do care about our customers and would like to look into this for you. Please send us a private message with your property address and a contact number so one of team members can review your account and call you. Thank you.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: April 16, 2019

Homeward Residential transferred my mort. to Ocwen. Now Ocwen is transferring my mort. to PHH. These are ALL the same CROOKED company. After my mort got transferred to Ocwen I kept getting notices about refinance from Homeward Residential in with my monthly statement. Since I have had my mort. at Ocwen I have sent large payments 5,000 / 10,000 / 5,000 / etc. to pay down my principal. On numerous occasions Ocwen took out a payment that was not due - BEFORE applying the money to principal. This is so they can get the interest before the bal. goes down. Most recently I paid 5,000 over the phone to be applied to principal. They took out a payment for May?? It was April 2 & I had already paid April. WTF!!! I was mad and requested a payoff. I never got one until April 16th and it was for more money than my last statement said I owed???

Before I could get any of this straightened out Ocwen transferred my mort. to PHH who claims they can't find my loan??? When I called Ocwen back they said, "We transferred your loan to PHH." Now the bal. due is wrong & I got no statement for May so I can't see if they applied the funds to principal before the transfer??? At least most loan sharks tell you what's going on upfront!!! I believe they refused to send May statement so they can charge me a late fee if I forget. IT'S TIME TO SHUT THESE CROOKS DOWN!!!

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Ocwen Financial Corp. response

David, we do take all feedback seriously and apologize for your experience. Your information and details regarding the payoff statement and account statement have been forwarded to our Ombudsman team for review. One of our Ombudsman reps will be contacting you regarding this.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 16, 2019

I am a past customer of OCWEN and needed tax information quickly-that moment. Your employee took the time and patiently searched back records until she had the answers for me on the spot! Nice work OCWEN for having a system and employees that don't give the standard "that will take three or four days"! Keep up the excellent service....

Ocwen Financial Corp. response

Vicky, thank you for your positive review! It is our goal to provide an exceptional customer experience, and we're glad we were able to give you the answers needed without delay.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 11, 2019

During my phone call with the Ocwen associate, I found home to be very knowledgeable of my particular case. Every question was answered with the utmost knowledge. I would recommend Ocwen to anyone looking for a mortgage company.

Ocwen Financial Corp. response

Thank you, Kenneth, for the positive review and recommendation! We are here to help our customers, and we're glad you are happy with the service provided.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: April 10, 2019

I have been advised to get an attorney because my Shared Appreciation Modification is such a mess. Title is in Homeward but I have paid Ocwen for 7 years. Tried to refi with another company and was denied because the TITLE is in Homeward. I am thankful for the SAM but what a mess.

Ocwen Financial Corp. response

Lisa, we apologize for your experience. I see you had called in recently and spoken to someone in our ERM team; however, I am also forwarding your information to our Ombudsman team, so they can review your account and follow up with you on this.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 9, 2019

We have been a customer of Ocwen for many years and I would recommend Ocwen to anyone who need this kind of services. They have worked with us throughout the years and have been very professional and friendly. We could not have ask for a better Mortgage Company to handle our affairs. If I had to pick a company to work with, I would choose Ocwen again.

Ocwen Financial Corp. response

Thank you, Rose, for your positive review and recommendation! It is our goal to provide an exceptional customer experience, and we are happy to hear that you are pleased with the service provided.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 5, 2019

The representative assist me fast and efficiently. He sent me the paper need and gave me accurate information about my loan and all relate. It is very important to assist clients quickly and efficiently because information and nice treat is the base of any business.

Ocwen Financial Corp. response

Thank you, Mayra, for your feedback! We are glad to hear that you are pleased with the service provided by Murali, and we will ensure your feedback is shared with him.

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Rated with 1 starResolution In Progress
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Verified Reviewer
Original review: April 4, 2019

In 2004 I purchased my first home, I made every payment on time including escrows for taxes and insurance. In 2009, after 5 years I was able to remove the required escrow account and pay my taxes and Insurance when due on my own. In 2012, my original servicer GMAC was in bankruptcy and Ocwen took over the servicing of my mortgage payments and account. I was not to change anything according to Ocwen's notice of servicing takeover and to continue paying as always, same account number and payments were made in the same manner for the same amount from the same bank account (my bank's bill pay). My mortgage was sent EVERY month like clockwork.

I always made sure the payment was sent and deducted from my checking account, then one day I received a call that I was delinquent! I WAS IN SHOCK. This had to be a mistake but no. They informed me not only was I delinquent but in DEFAULT! After, 9 years and 108 months of on time payments Ocwen could not tell me why just that I owed for 5 months. I was mortified that they would require all of the payments and late fees and inspection fees in order to STOP going into FORECLOSURE!!! Even though my payments were made each month and in full come to find out they were only applying a partial amount to my payment and the other to an escrow account. THAT DID NOT EXIST!

My perfect pay history of nearly 10 YEARS and credit destroyed. I was forced to pay whatever amount they claimed in addition to all the payments I had already paid in order to save my home!! They claimed I was in default but eventually admitted that yes I had made the payments but only a partial amount of the payments had been applied to my account and the other was being misappropriated and being sent to a non-existent escrow account for taxes and insurance. Which again I paid myself every year!! After being harassed to no end and even providing proof of payment multiple attempts to resolve the issue passed around to different dept nothing happened and in fear of losing my home I relented and paid the 1542.00 including all the fees inspection fees, late fees, etc. In certified funds which I have never recovered.

Also THEY HAVE SEVERAL TIMES FORCE PLACED INSURANCE ON ME WHEN I HAD ADEQUATE INSURANCE IN PLACE! I have since received the payment and transaction history of the months in question showing the payments and the disbursements and it is clearly a violation of RESPA. They also now require escrows with excessive reserves increasing my payments many hundreds of dollars a month. My taxes are 1885 per year. But the escrow requirement is 230 per month that is over 2760.00 per yr. This is by far the most incompetent bogus company and BEWARE OF OCWEN LOAN SERVICING, LLC.!!!!

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Ocwen Financial Corp. response

Michele, we take customer feedback very seriously, and we appreciate the opportunity to address your concerns. Even though one of our representatives is reviewing your escrow analysis information, our Ombudsman team has also been engaged to review your account in detail and will contact you to discuss further. Thank you.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 4, 2019

Ocwen has always been willing to work with us! We have found them very flexible and knowledgeable! They provide a plethora of options to ensure we're getting the best possible options at the fairest price.

Ocwen Financial Corp. response

Thank you, Jan! We are glad to hear that you are pleased with the service and options provided by Ocwen, and we appreciate the time you spent to share your feedback.

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Rated with 5 stars
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Verified Reviewer Verified Buyer
Original review: April 3, 2019

Ocwen has been a great company to work with. They have top notch customer service representatives who are professional, knowledgeable and courteous. Ocwen has always cared about my mortgage needs and has assisted me anytime I needed it. Hard to find a company nowadays who consistently takes care of its customers.

Ocwen Financial Corp. response

Megan, it is our goal to provide an exceptional customer experience, and we are delighted to hear that you are pleased with the service provided by our customer service representatives. Thank you for sharing your feedback!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 2, 2019

"All-Time of the Remarkable Experience and Assistance" - This is due to the fact that Ocwen Loan Servicing has been tremendously helpful when we are in distress of paying our mortgage. They have great solutions to making a stressful situation bearable. Customer Service is fantastic. Thanks Ocwen for continuing providing assistance!!!!

Ocwen Financial Corp. response

Karen, thank you for taking the time to share your positive experience! We are here to help our customers, and we're glad we were able to provide the assistance you needed.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 27, 2019

I have dealt with Ocwen for many years. And with my recent situation I'm totally out of my control. They have been forthcoming and helping me to stay in my home. I truly appreciate the personal loan managers that they are signed to your account to help you work through situations such as these. Again I would like to thank Ocwen for helping me to maintain the ownership of my home.

Ocwen Financial Corp. response

Thank you, Janice, for your review! Ocwen is here to help our customers, and we appreciate the time you spent to share your positive feedback with us.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 26, 2019

My experience with OCWEN has been very positive, productive and beneficial. I am very appreciative of the fact that I have been able to get responses from OCWEN whenever I have had needs to obtain information or have my questions answered.

Ocwen Financial Corp. response

Thank you! Ocwen is here to help our customers and respond to their needs, and we appreciate the time you spent to share your positive feedback with us.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: March 26, 2019

This is what was offered to me by the relationship Manager on my requested loan modification. Short Sale - A short sale is when a homeowner sells his or her property for less than the amount owed on their mortgage. In other words, the seller is "short" the cash needed to fully repay the mortgage lender. Typically, the bank or lender agrees to a short sale in order to recoup a portion of the mortgage loan owed to them.

Deed-in-lieu of Foreclosure - A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The problem with the two offers is that by Ocwen’s own numbers I have more than $110,000 in equity in the house. What an insulting program that Ocwen is running with the so called “Loan Modification Program” for people looking to not fall behind in their mortgage.

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Ocwen Financial Corp. response

Don, Ocwen takes all feedback seriously, and we apologize for your experience. I did see that you have been in contact with someone in our Ombudsman group, and I have forwarded this additional feedback to them.

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Rated with 1 star
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Verified Reviewer
Original review: March 22, 2019

My ex husband let the house go into foreclosure when we separated and I didn't find out 'til he had an eviction notice on the front door when taking the kids to see him. So, I looked into this and he had but also come to find out Ocwen had sold house without my knowledge, and made profit of 107,000$ of which does not belong to them as they were able to take what they were owed in its entirety. I was informed by my bank's lawyer that that money belongings to myself and ex. Ocwen was notified by lawyers with no response, the lawyer hired in the state for them has miraculously disappeared. So, I am attempting to contact them myself because that is A LOT of money they stole from me and I am owed it back!

5 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 20, 2019

The customer service rep was very helpful. I didn't understand the changing of the billing process and why I received info for one of my accounts and not the other. The rep explained that I would be receiving the info for the second account at a later date. I explained I did understand and I would set my bank to pay on PHH on the last working day of March for the April 2019 payment and I would continue to pay Ocwen on the large account until I received notice of the transfer of that account to PHH. The rep told me I could still pay Ocwen on the smaller account for now - I preferred not to do that.

Ocwen Financial Corp. response

Thank you, Georgia, for your positive review. We apologize for the confusion resulting from one of your accounts transitioning to PHH; however, we are glad to hear our customer service rep was very helpful in clarifying the change to the billing process.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 20, 2019

Ocwen Financial Corp has been very cooperative in the past. Whenever I call they go out of their way to assist me and treat me with respect and kindness. I have always appreciate their accurate response anytime I call.

Ocwen Financial Corp. response

Thank you, Elizabeth, for your positive review. We are glad to hear that you're pleased with your experience working with Ocwen.

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Rated with 1 star
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Verified Reviewer
Original review: March 19, 2019

My home was recently damaged during hurricane Florence. After receiving the insurance check I submitted it to Ocwen per their instructions. After filing all of their paperwork: w9s, contractor info, proof of insurance, etc. I expected to receive payments to vendors for repairs. It took 7 weeks to get a check for the roof. I submitted a receipt for tarp repairs, which insurance company paid in check, and was denied reimbursement. I am currently on day 31 waiting to be reimbursed $4000.00 for kitchen cabinets that I purchased out of pocket and Ocwen is holding the funds for. I was given numerous exco such as I need an inspection (done), the receipt was dated prior to damage (incompetent worker error), and today again that I need an inspection that was done 9 days ago ago. Six months have passed and they have only sent $12755.00 of the $82000 the insurance paid.

Ocwen Financial Corp. response

Michelle, we apologize for your experience. I see you had called in and spoken to one of our agents yesterday; however, I am also forwarding your information to our Ombudsman team, so they can review your account and follow up with you regarding the insurance funds.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 19, 2019

I'm having a temporary financial setback, Ocwen customer service and its relationship managers is the most helpful and courteous company I ever worked with. Dealing with something as serious as your mortgage to feel the company really has you and your families best interest in mind speaks volumes. I'm so glad they hold my mortgage.

Ocwen Financial Corp. response

Thank you, Tracy, for the positive review! Ocwen is here to help our customers, and we are glad we were able to assist you.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 17, 2019

The agent that answered original was very helpful; even when he had to transfer my call to the claims department, he did it with happiness and kindness. The claims department was wonderful!! He also helped me with happiness and courtesy! Thank you and God Bless!

Ocwen Financial Corp. response

Robin, thank you for the positive review! It is our goal to provide an exceptional customer experience, and we are happy to hear that you were pleased with the service provided by our agents.

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Rated with 1 star
Verified Reviewer
Original review: March 16, 2019

My lawyer has been trying to modify my loan since 2017! Ocwen keeps losing my paperwork! They tried to auction my home while still trying to modify which forced me into bankruptcy! Account # **. They doubled my repayment plan and would not give me 1 extra day to come up with the money! They had forced place insurance on me and charged me double for my insurance! All of this is illegal! I am also hiring another lawyer to sue them for the fraudulent scammers that they are. Do not go to Ocwen!

Ocwen Financial Corp. response

Machele, we would appreciate the opportunity to address your concerns. 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.

2 people found this review helpful
Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: March 15, 2019

The clarity of why charges occur when one is paying off a mortgage seems unreasonable and ambiguous. I pay for services in the actual loan fees and when I can generate a payoff summary online in a millisecond and yet I have to pay two additional charges is absurd. I do want to extend thanks for the person (Shagufta) that attempted to satisfy my questions and went out of her way to provide additional feedback of reassurance.

Ocwen Financial Corp. response

Ron, we value your feedback and we sincerely apologize for any inconvenience you had with Ocwen. I'm glad to hear that you were able to speak with our agent, Shagufta, about the questions you had. If there is anything else that you need additional assistance with, please send a private message with the details and we will contact you.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 14, 2019

The person I had talked to was very very outgoing, he explained everything to me step by step, telling me ways to save my home, was offered the modification loan, and the person submitted it very quickly.

Ocwen Financial Corp. response

Thank you, Christine, for taking the time to share your experience with Ocwen. We are here to help our customers and we're happy to hear we were able to provide you with the assistance you needed.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: March 12, 2019

I have a letter that states OCWEN would not receive any payments after February 15, 2019. On March 12, 2019 a payment was sent to OCWEN and they received it and I can't get the money transferred back to my checking account. The mortgage company the service was transferred to ALSO received the same payment. I have paid twice for the month of March. I escalated to an "Escalation Manager" Devendra, ID#** who didn't offer a solution and hung up on me!

Ocwen Financial Corp. response

Elizabeth, Ocwen takes all feedback seriously, and we apologize for your experience. We have forwarded your information to our Ombudsman team so they can review your account and assist with this.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2019

We have finished our Chapter 13 bankruptcy on February 20th. We were told by our trustee we should contact OCWEN to set up our February payment. However, when we contacted OCWEN, they stated they cannot speak to us due to the ongoing bankruptcy. Our bankruptcy has been discharged. They were also told by our trustee that we would owe for the February payment, so we paid it. However, they have credited it to the January payment. They state they are reconciling the account, and have been since January and claim they will not finish the process until March 31st.

So, we do not want to be late on our payments, but cannot make the March payment until they post the post arrearages to our account that makes us current through February. They state that they inadvertently forgot to charge us the variable rate for one year which put our trustee's payments a month behind even though their attorney verified the mortgage payments were paid through February. So, we need to make our March payment, the company needs to finish the reconciliation so we can make that payment, and we need this to happen before April so we will not be behind or late on our payments.

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Ocwen Financial Corp. response

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

2 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 7, 2019

I needed to print a payment coupon. I was having trouble trying to login online to do so. I call the customer care line for assistance. The very patient and knowledgeable Representative talked me through the process step by step. After the we were finished, I was able to get into my profile and print my coupon as well as view my other online information. I am very pleased with that experience!

Ocwen Financial Corp. response

Thank you, Roscoe, for taking the time to share your positive feedback. We are here to help our customers, and we are happy to hear we were able to assist you with your online access.

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Rated with 1 star
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Verified Reviewer
Original review: March 2, 2019

I wanted to reinstate my loan from foreclosure prior to the transfer of my loan to PHH on 2/1 - I sent certified funds via overnight mail on 1/29 - they were received by Ocwen 1/30. I sent a greater amount than that quoted on my reinstatement statement dated 1/17 plus I called and verified the amount with Relationship manager "Naveem" - Ocwen let me down and did not process or credit my account prior to transferring my loan to PHH - I'm not certain why but PHH returned my cashiers check 2/18 stating it was non sufficient. I immediately called PHH and was told it was because the cashiers check was $41 dollars deficient- which I believe was caused by a $50 fee imposed as a "return check fee" for the cashiers check returned to me on 2/18.

If Ocwen would have processed my reinstatement payment on the date it was received instead of passing along to PHH. I would not be 19 days from auction and scrambling to reinstate because the $41 dollar deficiency quoted to me on 2/19 has now become a $1600-2000 deficiency depending on which contradictory figure I follow PHH's or the attorney's...The foreclosure should have stopped with Ocean or restarted with PHH or at least the auction date extended due to the loan transfer... it's not fair!!

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Ocwen Financial Corp. response

Sherri, we take all feedback seriously, and we apologize for your experience. Your information has been forwarded to the Ombudsman team so they can review your account and follow up with you.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 26, 2019

First hire some Americans, cant understand mumbling idiots in customer service, that when you're mad and they cant give you an answer you get another mumbling idiot. Dont mention you are recording them like they record you cause they will just hang up. Went thru loan mods with them. 8 months later, "Sorry. Cant help you. You make too much money." Sent them a $21,000 check. They sent it back with more late charges, this loan mod has been going on for over a year. They have messed my credit score up so you can not refi to get rid of these idiots and if you check online the federal government sued them and won a multi million dollar fine they received for fraud and so called helping you out. I have not one good word to say about this company and I have been a customer since the year 2000.

Ocwen Financial Corp. response

Steve, 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.

8 people found this review helpful
Rated with 1 starResolved outside ConsumerAffairs
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Verified Reviewer
Original review: Feb. 24, 2019

Every time I speak to anyone they only read from a script! They have told me I was approved for a modification, but never verified with my bankruptcy attorney. When I send payments, they returned them to me. They have also told me I have a deferred balance, but can’t explain why or how. Now I received foreclosure notice! They do NOT want to help families stay in their homes, even when payments are being made and they return them. Now I will have to pay attorney fees to stop foreclosure and actually be able to make payments to keep my property.

Ocwen Financial Corp. response

Christine, Ocwen takes all feedback seriously, and we apologize for your experience. We are forwarding your information to our Ombudsman team for a review of your account, and they will contact you to discuss this in further detail.

6 people found this review helpful
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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.

Profile picture of Michele Lerner
Michele Lerner Mortgage & Real Estate Contributing Editor

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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