I couldn't help but laugh the other day, I actually got a call from Ocwen. I returned the call and the recording said "Good Morning and thank you for calling Ocwen! Where helping homeowners is what we do!(tm)"
Well, not to go off on a rant here, but that has not been my experience. My bankruptcy clients have had lots of difficulty dealing with Ocwen. I have had to bring an adversary proceeding or lawsuit in Bankruptcy Court for a couple of my clients recently against Ocwen. In my experience as a rule, it is very difficult to work with them or get information about loans from them. It also appears that they love to load the loans up with fees and charges. Of course as the servicer of the loan, they generally get to keep the late fees and other fees that they collect on a loan, in addition to the servicing fee.
But in this case, the service wasn't too bad. Of course the call center is in Mumbai, India, but the fellow that I connected with must have been a supervisor or something, as he was not difficult to understand. I had to go through a long verification process (so he could be sure that I was authorized to speak to him I guess, even though he called me!), but then the call was about just needing a letter from us so that a client could do a Deed in Lieu of Foreclosure with Ocwen. You can be sure that we will scrutinize that document very closely.
Anyway, I understand Ocwen is buying up more mortgage servicers, so if you like Ocwen, you will be seeing a lot more loans being handled by them. It's too bad that people just can't deal with lender's representatives in their communities, by walking down the street and reviewing their loans with their local bankers or S&L officers, like in the old days. But those days have come and gone. Oh well, I guess we'll just have to call Mumbai.
If you have comments about Ocwen, positive or negative, or war stories of your experiences with them, by all means share them with us. We'd love to hear what you have to say.