A new mortgage company called Ocwen bought my mortgage. Can they legally do that?

Yes.

Ocwen and other non-bank companies are currently buying up "mortgage servicing rights" or MSR's from banks that are getting out of the mortgage servicing business. New consumer protection rules make it tougher for conventional banks to remain in compliance, so they have to sell their MSR's. Your mortgage loan is likely owned by some other entity entirely.

What can you do? Nothing. You have no right to change mortgage servicers. If you have problems with your mortgage servicer, you can send them a written complaint letter to their correspondence address on your bill. This is known as a "qualified written request" and they are required by law to promptly respond to it.

You can also file a complaint with the Consumer Financial Protection Bureau (CFPB).

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization