Ocwen Resources All Things Ocwen in One Post
Our national boutique law firm is best known for going after bad banks and lenders. Included in that category are loan servicers such as Ocwen.
Although we have helped the federal and state government collect over $16 billion from bad banks, and have helped our mortgage company whistleblower clients receive over $100 million in rewards, we have yet to tag Ocwen.
By tag, I mean we have yet to force the company to pay meaningful fines or restitution to its many victims. Our real goal is to simply force the company out of business. We would be satisfied, however, with at least taking several millions dollars or more and giving that back to homeowners.
Most companies can be saved with a change of leadership. Unfortunately, we think the corporate culture of Ocwen is so diseased in needs to be treated like a rabid pest. It needs to be broken up, new leadership appointed and held accountable for its trail of deceit and wrongdoing.
That isn’t to say that we don’t care about the employees. We think 99% of them are great people that happen to work for a horrible company. We have talked to several Ocwen employees, all have the same view of the company.
Ocwen sets up its employees for failure, puts profits before homeowners, has a broken software system that doesn’t let employees see what has been done on a file and is understaffed to boot. By understaffed, we mean often calls go unanswered and mail gets thrown away when it can’t get answered. It’s servicing platform is so antiquated that customer service representatives can’t see what others in the company have said or done on a file.
Over the years we have dedicated considerable resources into launching both an Ocwen whistleblower case (we need more insiders please) and one or more class actions on behalf of aggrieved homeowners.
What we can’t do is take individual Ocwen fraud or foreclosure or loan modification cases. [We apologize in advance.]
With all this in mind, here is the current list of our Ocwen Resources.
First is our cornerstone Ocwen Fraud Investigations page. That should always be your first stop.
Our other Ocwen resources links include:
Ocwen Punitive Damages Award. The title of this post [our newest post] says it all. Just what every struggling homeowner needs. Hope. An Illinois woman is inspiration to us all. She took on Ocwen after growing tired of sending documents over and over and over again and listening to their constant lies, changing stories and threats. An jury awarded her $3 million in punitive damages.
Ocwen appealed and the blistering response by a three judge federal appeals panel is worth reading.
Whistleblower Alert – Ocwen Lays Off 2,300. This post examines the recently announced layoffs of 2,300 workers, most of them based in the United States.
If the company couldn’t keep up with the workload before, it will most certainly get worse as the cuts go even deeper. We hope that some of the 2,300 laid off Ocwen reps become whistleblowers. We need all the help we can get as we try to assist homeowners.
If your information involves underwriting or servicing violations, you may even be entitled to cash award. Whistleblowers who are first to file with new inside information can keep 15% to 30% of whatever the wrongdoers pay.
Ocwen SS Financial Holocaust page. That was our first Ocwen post in October 2014!
Ocwen, Another Home Taken, Another Family Destroyed. This is a reader sponsored story. It’s not just us who think Ocwen is an evil giant. Learn firsthand one woman’s fight against the company. If you have a story you want to share, send it to us along with explicit permission to post. We do NOT publish information from clients, potential clients or the public unless specifically asked.
Why did we allow this guest post? Some folks like to vent and hearing from an actual homeowner may let others know they are not alone in their struggles. [We did lightly edit and remove real names.]
Ocwen & PHH – The Marriage from Hell. What happens when two of the worst mortgage loan servicers join forces and merge? (Hint: The answer isn’t love.)
As Ocwen transitions its name to PHH Mortgage, its important to know that PHH has a reputation almost as bad as its new parent. The company has already paid tens of millions in fines before becoming part of Ocwen.
States Cave to Ocwen. We came so close to shutting down the beast! Unfortunately, Ocwen has powerful lobbyists and lots of hedge fund money to pay for those lobbyists.
Ocwen Gets Fined for Robocalls. If you read our primary investigations page (top listing), you will better understand why it is so hard to bring class actions in the lending industry. One exception is for “robocalls”, those never ending and annoying calls made by autodialers. If you are getting them from a lender, we can probably help.
Ocwen Foreclosure Disparity Suit. Should it come as any surprise that Ocwen has been accused of both screwing its shareholders AND homeowners in poor neighborhoods?
States Say No to Ocwen. (Unfortunately, they later said yes. The post is still worth reading, however.)
Ocwen’s Newest Lie (or How the Company Says it HELPS Homeowners)
Turn Yourself In and Beg for Mercy. Learn what employees say about Ocwen (Hint: the title is a quote from one of those unhappy workers.)
Ocwen Turns on the CFPB. The Consumer Protection Financial Bureau has lost a lot of the wind from its sails but it still exists to protect consumers even though it has much fewer resources today. When the CFPB challenged Ocwen’s mortgage servicing practices, Ocwen challenged the constitutionality of the agency. Rather than fight the merits of the charges (we suspect the company had no facts on its side), the company instead attacked the regulator’s ability to regulate. [We are living in such interesting political times, however, that the Justice Department sided with Ocwen on this issue!]
Helping Homeowners? Seriously?? Ocwen copyrighted the phrase “Helping Homeowners Is What We Do.” But try finding one of those homeowners who claim they were “helped” by America’s largest loan servicer.
Where is the Justice? New York regulators forced CEO Bill Erbey to resign. And he gets paid over a million bucks to do so including a $475,000 relocation fee. Ask any homeowner if Ocwen paid them a half million dollar relocation fee. Many will tell you they and their families were unceremoniously dumped on the street. Some wound up in shelters.
Ocwen Again in Trouble with Regulators. Some weeks there is so much red ink involving Ocwen that journalists can’t even catch up. In this post, the government appointed monitor claims that the company “may be meddling with a mandated independent internal compliance process.”
More Legal Woes for Ocwen. Finally, a class action lawsuit against Ocwen. Even if it isn’t our case, we are thrilled that someone is bringing a class case against them. Why? An individual homeowner can’t afford to take on a billion dollar company alone. Especially a homeowner who may be struggling financially or might be seeking a loan modification. That’s why we love class action cases in the financial services industry. Unfortunately, Congress made the rules pretty difficult to bring these claims.
Ocwen – the Lies Continue. We couldn’t resist this post, especially when CEO Bill Erbey had the audacity to say, “I want to emphasize that Ocwen takes great efforts to keep borrowers in their homes and avoid foreclosures.”
Our newest post tracks Ocwen’s June 2019 name change. The company will now be known as either PHH Mortgage or Liberty Home Equity Solutions.
PHH already has a reputation almost as bad as Ocwen. We equate that name change as if the Devil was changing his legal name to Satan. Does it even matter?
Liberty Home Equity Solutions, however, has been around since 2003 and enjoys a good reputation. Will that continue now that the company has been acquired by the Ocwen / PHH monster? It’s a story we will closely follow.
External Ocwen Resources
Finally, here is an external link to the Ocwen National Settlement. We include this because we often get calls from homeowners about the settlement. Unfortunately, we cannot assist individual homeowners and believe the claims period expired in 2017. If you have questions, visit the site’s FAQ page.
If you want to learn more or to contact us, please visit our Ocwen Investigations page. It is the first link and where all things Ocwen that we are doing begin. Thank you for being a loyal reader.
[Please note we only accept emails () and online contact forms from homeowners. We do not represent individual homeowners and cannot provide loan modification or foreclosure advice. Our practice is limited to class actions and whistleblower complaints. If you are an employee whistleblower, feel free to call 202-800-9791.]