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Ocwen Financial Corp.
Ocwen Financial Corp.
Overall Satisfaction Rating
4.06/5
  • 5 stars
    302
  • 4 stars
    30
  • 3 stars
    10
  • 2 stars
    6
  • 1 stars
    88
Based on 436 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: April 23, 2018

2745 Ocwen Financial Corp. Consumer Reviews and Complaints

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Resolution In Progress
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Verified Reviewer
Original review: March 28, 2018

My loan through OCWEN was paid off at the beginning of March 2018 and I am still waiting to receive my escrow refund of almost $800.00. I have called several times and have been told that it was mailed out on 3/15/18 as to which I still have not received as of today. I always get a non-speaking English person when I call and was told once that they were putting a stop payment on the check and re-issuing another one to me. I was then told the next day that I had to wait 30 day in order for them to re-issue another check. I don't know what to do about getting my refund!

Ocwen Financial Corp. response

William, Ocwen takes all customer feedback very seriously and we apologize for your experience. This information has been assigned to our Ombudsman team so they can review the processing of your refund check. They will be contacting you to discuss further. Thank you.

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Verified Reviewer
Original review: March 28, 2018

My experience was great. All my questions were answered and I’m waiting on my annual review to find out what my mortgage payments will be for the rest of the year and to find out how much I will be getting back from my escrow account.

Ocwen Financial Corp. response

Gwendolyn, it is our goal to provide an exceptional customer experience, and we are delighted to read that your experence has been great! Thank you for taking the time to share your positive feedback.

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Resolution In Progress
Verified Reviewer
Original review: March 28, 2018

OCWEN is the WORST company EVER! We have been trying to work with them for over a year - No one in that company understands their business - EVERYONE we speak to gives us DIFFERENT conflicting information - Our modification keeps getting denied and each time we call we are told it is for a different reason. All the errors we have encountered are Ocwen's and we can not reach anyone competent enough to help us. They just keep asking us to fill out the same paperwork OVER and OVER and OVER again OR write appeal letter after appeal letter. We are ready to file formal complaints against this company.

Ocwen Financial Corp. response

Joseph, we sincerely apologize for your experience with Ocwen and have sent your information to our Ombudsman team. They will review your account and contact you to discuss further.

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Verified Reviewer
Original review: March 27, 2018

I am the legal rep for my mother - Mrs. Leora ** and have been paying the mortgage on our home since my mother passed, March 2006. I requested and received the payment history but I needed bank info for the lawyer to show the proof that I have been paying the bill.

Ocwen Financial Corp. response

Thank you, Janet, for taking the time to share your feedback. I have forwarded this message to our Ombudsman team to see if they can assist in getting you the additional information you need. Please send a private message with your contact number so they can reach out to you.

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Verified Reviewer
Original review: March 27, 2018

My experience with Ocwen has been very positive. The Ocwen representatives have demonstrated sensitivity to my financial situation. They demonstrated professionalism and a high degree of knowledge regarding my situation.

Ocwen Financial Corp. response

Ernest, thank you for taking the time to share your feedback! Ocwen is here to help our customers, and we're glad to hear that your experience with us has been positive.

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Resolution In Progress
Verified Reviewer
Original review: March 26, 2018

I have had nothing but horrible experiences with OCWEN. When I call, I always get a non-English speaking person. There is no accurate accounts of discussions put into the system. I called on a Monday to discuss a hardship. Called back on Thursday of the same week and the rep stated that there was no record of my phone call. I was late on a payment and when I called to make the payment, they refused. This now goes on my credit report as paying late for 60 days.

Ocwen Financial Corp. response

J P, we sincerely apologize for your experience and we are forwarding your information to our Ombudsman team for a review of your account. They will be contacting you to discuss this further.

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Resolution In Progress
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Verified Reviewer Verified Buyer
Original review: March 25, 2018

Well today 3/24/18 I leave OCWEN handle my escrow (going to change). Today I get my mortgage bill in the mail & again like the last few months it has gone up & I did not know why. Well today I went over everything & come to find out instead of my escrow going down like it should have because my insurance was costing me over $1200 a year & I found another company that gave me more coverage for only $765.00 year & I got my taxes lowered also. Well today I find out that I now have no homeowners insurance because apparently OCWEN canceled it & signed me up for their homeowners insurance but get this, their insurance ONLY covers the house structural & nothing else so says the guy I talked with & yes I got pissed & told him off & then he said, "I will switch you to a manager because this is not right." & so he switched me to her (Holly **).

Well she contradicted most everything the guy said & said to give her to Monday to get things worked out. Well I was pissed & I said, "Tell me what happens if a match is set to the house? I lose everything & you all are covered & it's been this way for 2 months without anyone notifying me of this." And said, "HOW by law are you all allowed to do this?" She said, "Sorry & give me till Monday to get it worked out." & I said ok. WELL I get off the phone with her & about a half hour later the sheriff shows up at my door & said I told them I was going to burn my house down & I told the deputy, "Yea right. If I do that I would lose everything that I own," & explained everything & he agreed & left. REAL NICE OCWEN! TRY AGAIN! It seems like this company is doing EVERYTHING to make me lose my home & I never missed a payment.

I called them (OCWEN) almost 2 years ago about doing a home hope program because my home is only worth $65000 thousand & I owe $128 thousand (Had a appraisal done) & sent them all paperwork & all 4 times they kept saying they did not receive it or could not find certain pages or I sent in the wrong items that they wanted but I sent exactly what they wanted & never nothing would happen so I gave up. I am telling you this, the reason this company wants us to lose our home is because they have insurance & it covers them if I walk away & on top of it they can then sell it & make more $ so it's a win win for this company. Well I am going to start filing any complaints that I can & ANY place I can about this company because OCWEN YOU ARE NOT GOING TO GET AWAY WITH IT!

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Ocwen Financial Corp. response

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

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Verified Reviewer Verified Buyer
Original review: March 22, 2018

Our mortgage was turned over to them for bankruptcy claim and they increased our monthly payment without notifying us and now we are on our feet again, we are in jeopardy of refinancing because of their tacking on late fees when we have continued to pay our previous monthly rate religiously for 8 years!!! They are a blood-sucking immoral institution!

Ocwen Financial Corp. response

Marilyn, Ocwen takes all feedback very seriously, and we apologize for your experience. Your information has been sent to our Ombudsman team to review your account and they will contact you to discuss further.

2 people found this review helpful
Verified Reviewer
Original review: March 20, 2018

OCWEN is more than a mortgage company. It is apparent that they train their staff to be more than just a bill collector. They are compassionate and they work hard at coming up with solutions and options if you are in a difficult situation. They are always available, courteous, reasonable and fair.

Ocwen Financial Corp. response

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

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Verified Reviewer
Original review: March 20, 2018

I originally had a loan with another mortgage company who sold it and resold it until Ocwen got it. I was in the process of refinancing when the market fell apart at which time Ocwen wanted nothing to do with a refinance and cut the process off just prior to setting up the final appointments. Due to financial issues I was unable to get caught up on the ARM and did a loan modification. It was still difficult and I ended up in Ch 13 but again did another loan finance in 2017. After 3 months of on-time payments I received a letter saying the modification was no longer valid because I didn't submit it timely. I followed the directions that said it could be sent in or "the first payment made on time" would be sufficient.

There was another clause somewhere saying to sign. However the very front in the modification was clearly stating a payment would be a form of acceptance - which I made timely. Even my attorney thought it was bogus but said to work with Ocwen to do another loan modification. I did and again submitted everything by the due date for this newest modification in 2018. Today my attorney got a set of letters from Ocwen saying the modification was rescinded for not being submitted timely. I am now pursuing legal action against Ocwen if they do not repair this error of THEIRS.

My only conclusion is the attempt to again force me into another modification so that again the loan payment will go up. I am also submitting a complaint with the CT State's Attorney's Office as well as the Consumer Financial Protection Bureau. According to their records there have been over 25,000 complaints against Ocwen. The CT State's Attorney General has litigated against them twice in the last 2 years. I have been treated very badly by their representatives in the modification. They suddenly stopped in 2017 when I called to complain.

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Ocwen Financial Corp. response

William, Ocwen takes customer feedback very seriously, and we sincerely 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.

2 people found this review helpful
Verified Reviewer Verified Buyer
Original review: March 20, 2018

They were right on cue. They got right to the point, cleared everything up [the best to my knowledge] and explained in details in a way that I understood exactly what they were talking about. Talked to a person and not to an answering machine. THUMBS UP FOR OCWEN.

Ocwen Financial Corp. response

Thank you, Mary! We appreciate the time you spent to share your positive feedback.

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Verified Reviewer Verified Buyer
Original review: March 20, 2018

Our experience with Ocwen has allowed us the peace of mind so we can continue to work and raise our family without worrying about how we're going to do this. They really do care and spent quite a few hours walking us through what to do next. We're so confident in Ocwen that we will go to them for our next mortgage.

Ocwen Financial Corp. response

Thank you, Hannah, for your feedback! We appreciate the opportunity to work with you, and we are delighted by your confidence in Ocwen!

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Verified Reviewer Verified Buyer
Original review: March 20, 2018

Helping homeowners and provides excellent assistance to resolve issues that arise, especially In the Waterloo, Iowa Office, who demonstrate unimpeachable INTEGRITY! They have the ability to communicate, i.e., Understanding or a Meeting of the Minds when conversing resulting in a satisfactory conclusion.

Ocwen Financial Corp. response

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

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Resolution In Progress
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Verified Reviewer
Original review: March 17, 2018

We came home today to find a Notice of Foreclosure taped to our front door. We've been in bankruptcy, chapter 13 for over 2 years. We've make our trustee payment every month and Ocwen acknowledges with a receipt that they send us. The letter states that our home goes up for auction 4/18/18. We called Ocwen asap and they said they have NO record of our bankruptcy. How can this be when they cash monthly payment.

Ocwen Financial Corp. response

Christy, Ocwen takes all customer feedback very seriously and it is our goal to make every attempt to resolve your concerns. Your information was forwarded to our Ombudsman team this morning so they can review your concerns and contact you to discuss further. Thank you.

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Verified Reviewer
Original review: March 17, 2018

Extremely satisfied with the services I received since my mortgage was transferred to OCWEN. All my questions about my existing mortgages were answered in a very timely and professional manner whether by phone or through correspondence. I highly recommend OCWEN to my constituents.

Ocwen Financial Corp. response

Thank you, Emmanuel, for the positive feedback and the recommendation! 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: March 16, 2018

I like dealing with Ocwen Customer Services. They're thorough, friendly, knowledgeable and patient. Received an auto mortgage payment receipt for the month of March from a closed bank account. I had failed to update my auto payment with OCWEN. I called to advise them of this oversight. Your customer service assured me and walked me thru the steps to make corrections. Wished I jotted down her ID.

Ocwen Financial Corp. response

Tareq, thank you for taking the time to share your positive feedback! I believe the customer care representative you worked with was Zinaida. We will ensure your feedback is shared with her.

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Verified Reviewer Verified Buyer
Original review: March 16, 2018

Ocwen loan servicing has been my mortgage company for a few years now. I listen to other people talking about their mortgage companies and they always sound so terrible and unforgiving. Ocwen on the other hand has been nothing but helpful, understanding and respectful of me and my situation and, In my opinion, has bent over backwards to make it all work for me. Now all I can say is, "Thank you Ocwen for everything."

Ocwen Financial Corp. response

Thank you, Richard, for taking the time to share your experience with Ocwen. We are here to help our customers and we appreciate the opportunity to work with you.

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Verified Reviewer
Original review: March 16, 2018

The representative we spoke to was very knowledgeable about the products and services that Ocwen provide, answered our questions so accordingly and we were very pleased. When we call into Ocwen the representatives are always personable, knowledgeable and very helpful. Thank you Ocwen.

Ocwen Financial Corp. response

Thank you, Lisa! We are glad to hear that you are pleased with the service provided by our representatives, and we appreciate you taking the time to share your positive feedback!

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Verified Reviewer
Original review: March 14, 2018

I have been very happy with my experiences with Ocwen. The representatives are very polite and have treated me like family. I have been very pleased with the conversations and their quick responses to my questions. The last representative I spoke to was easy to talk to and made me feel very relaxed and important.as we discussed my account.

Ocwen Financial Corp. response

Frances, thank you for sharing your positive feedback with Ocwen! We appreciate the opportunity to work with you, and we're glad to hear that you are pleased with the service provided by our Ocwen reps.

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Verified Reviewer Verified Buyer
Original review: March 13, 2018

The associates at Ocwen knowledge of the process was so great that the client could focus and provide needed information, which was central in completing process. A great group, was very helpful and supportive.

Ocwen Financial Corp. response

Thank you, Rova, for taking the time to share your positive experience. It is our goal to provide an exceptional experience and we appreciate your feedback.

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Verified Reviewer
Original review: March 13, 2018

We been a customer for several years and have always received great service from Ocwen. They have always been of great assistance and have always deliver a great service. I would highly recommend them to a friend and our family.

Ocwen Financial Corp. response

Thank you, Benjamin, for your positive feedback and recommendation! It is our goal to provide an exceptional customer experience, and we are glad to hear that you're pleased with your experience working with Ocwen.

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Verified Reviewer
Original review: March 13, 2018

My relationship manager seems to really care about my account and she gets an excellent rating but Ocwen itself gets a 1 rating because I don't like their customer service, their loan modification laws. I've applied at least 7 times and each time I'm denied. I would not recommend Ocwen to a friend.

Ocwen Financial Corp. response

Thank you for the excellent rating you have given your relationship manager. However, we do take all customer feedback seriously and it is our goal to make every attempt to resolve your concerns. This information has been assigned to our Ombudsman team to review your account and contact you to discuss further.

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Verified Reviewer
Original review: March 13, 2018

Very knowledgeable and resolved my concern immediately. I had received a letter from Ocwen concerning my home insurance and the associate was able to clear any misunderstandings I had about the letter and after we finished talking, I was relieved that I did not owe additional funds.

Ocwen Financial Corp. response

Beverly, thank you for your feedback! Ocwen is here to help our customers, and we're pleased to hear our associate provided you with a positive experience.

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Verified Reviewer Verified Buyer
Original review: March 13, 2018

I misplaced my copy of the application for the mortgage modification I submitted. I needed this information to submit to the IRS to substantiate the $75,000 forgiveness to my mortgage for my 2017 tax prep. Thank you for your assistance.

Ocwen Financial Corp. response

Bettyanne, Ocwen is here to help our customers, and we're glad you received the assistance you needed.

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Verified Reviewer Verified Buyer
Original review: March 11, 2018

My experience was very stressful, and it took so long but on that journey I had the best Relationship Manager ever. MR. A ** is kind, patient. And he explain everything to me in detail. I would gladly and happily recommend Ocwen Loan Servicing LLC to everyone.

Ocwen Financial Corp. response

Sonia, Ocwen is here to help our customers and we appreciate you sharing your experience. I'm sorry to hear the process took a long time, but glad to hear you had a great Relationship Manager working with you through this journey. I will be sure to share this feedback with him.

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Verified Reviewer
Original review: March 9, 2018

Six years I’ve been an Ocwen customer. I appreciate the regular correspondence providing payment solutions and updated account information. I particularly like how I’m treated on phone correspondences: personably and professionally. I’m treated kindly and with respect, giving me a great customer service experience.

Ocwen Financial Corp. response

Steven, thank you for taking the time to share your positive experience. It is our goal to provide an exceptional customer experience and we value your feedback!

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Verified Reviewer
Original review: March 9, 2018

Had done a loan modification years ago when my mortgage was with GMAC. After many years property values decreased and the interest rate increased much I was not able to make the payment. Decided to remodify the loan in 2017. Absolutely could not believe they would not offer a principal reduction at all even though all they were charging interest on top of interest that had been converted to principal. The principal balance was so high it disqualified me for Government modification. When the loan got remodified they INCREASED my payment. I just don't see the sense in that.

I asked them to unmodify it and they said they cannot do that. Why would anyone modify their mortgage to lower the payment and end up with a higher payment? Is this even legal? Now how much sense does that make? Then within a few months it went even higher? To an additional $800 more! They said it was due to a shortage in the impound account for property taxes. I am now being foreclosed on and have only another 45-60 days before I lose my home. I raised 7 children in this home... it's such a shame.

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Ocwen Financial Corp. response

Kim, we apologize for your experience with Ocwen and appreciate the opportunity to review 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. Thank you.

2 people found this review helpful
Verified Reviewer Verified Buyer
Original review: March 6, 2018

Most of us work Monday through Friday. I had an issue with my bank (they closed my branch close to me). I receive my statements online and seldom monitor this so once or twice a year, my funds get low in my one account. I have two accounts with the same credit union. To my dismay I realized my payment was not processed for insufficient funds. I have (**.000.00) readily in my other account. I thought they would be linked but they are not. I tried calling Ocwen so I could change the accounts over the weekend. No customer service on the weekend to talk to.

What makes this problem worse is that there is a three hour time difference so when I get home from work, most often, you guys are closed for customer service during normal working hours. I am sure I am not the only one that has this issue. Overall, you have been a very good company to work with. I only have 2 years left on my maturity of the loan. What would also be nice is to partner with some insurance companies for home insurance. Make it easier on us shopping for better rates and give us your loyal customers a competitive rate. This way we stay loyal with our loans. Thank you.

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Ocwen Financial Corp. response

Ben, Ocwen takes all feedback very seriously, and we apologize for not being available when you tried to contact us. Our normal Customer Service hours of operation are Monday through Friday 8:00 a.m. to 9:00 p.m. ET and Saturday 8:00 a.m. to 5:00 p.m. ET. We appreciate both the opportunity to improve our service and the chance to resolve any issues that our customers may have. If there is anything you need assistance with, please send a private message with the information and someone in our Ombudsman team will contact you.

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Verified Reviewer
Original review: March 5, 2018

I recently had my mortgage adjusted due to a change in my property tax rate. I submitted all required paperwork in November of 2017, but did not have an actual adjustment made to my mortgage payment until February 2018. And the adjustment was only made after I called Ocwen to follow-up on my request. After speaking with an agent, I was assured that the servicing department would be notified about my request. The problem I had with the process is simply that all adjustments should have been made once Ocwen received the necessary paperwork, and some type of acknowledgment made via e-mail that the changes will be/have been made. It's all about simple communications with the customer. The company IKEA does an excellent job of updating customers with 'advisory e-mails'. In the end, I am now satisfied that the adjustments to my mortgage have been made.

Ocwen Financial Corp. response

Keith, we apologize for your experience. We take customer feedback very seriously and appreciate the opportunity to improve our customer service. If there is anything outstanding that you need assistance with, please private message us with the details. Thank you.

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Verified Reviewer
Original review: March 2, 2018

Over the years Ocwen has held my mortgage. Every time I have called with a question they have answer it almost immediately. If not, they have returned my call immediately with correct information. Never had a problem with Ocwen. They also keep me up to date on any programs I may qualify for to assist in my payments. Thank you.

Ocwen Financial Corp. response

Thank you, Corine! Ocwen is here to help our customers, and we're glad to hear that you're happy with your experience working with us.

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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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