Ocwen Sucks Customer Reviews and Feedback
Ocwen Financial Corporation is a provider of residential and commercial mortgage loan servicing, special servicing, and asset management services, which has been described as "debt collectors, collecting monthly principal and interest from homeowners". Ocwen is headquartered in West Palm Beach, Florida, with additional offices in Mount Laurel, NJ, Rancho Cordova, California, and St. Croix, U.S. Virgin Islands. It also has support operations in the Philippines and India. Ocwen's Slogan is "Helping Homeowners Is What We Do."
Kent shares his experience, "Ocwen is by far the worst services company I have ever dealt with in the mortgage industry and other service industries. Years ago, they ran me around for 12 months processing a loan modification twice and both failed. Every time they requested information and I confirmed that was all they needed, they'd come back weeks later and ask for more information. To add insult to injury, they'd then ask for the same information updated since 90 days had elapsed - all because their processes are extremely slow. In the end, after two loan modification attempts - both were denied. Constant bouncing around from one department to another, mostly in India and calls taking hours! More recently, when the loan transferred to PHH, I paid additional principal and asked for my loan to be recast at the lower principal balance, After 1+ months, they still haven't reset my payments to a lower amount when their relationship mgmt dept already confirmed the recast and lower monthly payment. More wasted hours on the phone bouncing around departments. They are a mortgage company, this should be an easy task unless they're running their calculations on an Atari computer. This company is a great example of lack of customer experience and how not to run a great business."
Sr. Document Specialist (Former Employee) says"Just very suspicious activity at this workplace. Don't waste your time. The funniest comment came from another department. A woman said, Every time I pass this department it seems like a dark cloud is hanging over it."payChaos"
Cash Management Analyst (Current Employee) says"Long hours, exterely poor pay and benefits. No work/life balance. Management belittles the employees and forces them to fight for the scraps from their table. They will brag about 7 figure bonuses and then say nothing leftPaycheckEverything else"
Customer Service Representative (Current Employee) says"I feel the company doesn’t care about the employees. The employees try to make the job as stress free as possible. The rules are always changing and it’s hard to keep il"
Research Correspondence Editor (Former Employee) says"All about making money. Zero culture, zero work life balance, always off shoring and laying off employees. Think if the movie office space. Ocwen is a joke."
Loan Officer (Former Employee) says"Seeing as I'm still employed with this company, I will give you a prediction of what I've seen in the last two weeks. The trainer is horrible. And the training was for maybe 1 hour a day. After that we were at our desk, reading a book all day or watching videos for a week and a half. This place is a dead-end job. it's one of those jobs you don't care about your life... you just want a paycheck and the people around you think the same. I'm still in training and I can see how overworked and worn out these people are. Please stay from this place if you can.. the only upside is you will be able to pay your bills at the bare minimum.. but you will dread wasting your gas or uber money to come here. Save yourself the headache."
Associate (Former Employee) says"This company does not exist as it took over AHMSI later called Homeward Residential Services for a small stint to get their work completed and then they vanished."
Senior Servicing Operations Specialist (Former Employee) says"This place was very unprofessional and do not care about their employees. Too much hypocrisy and favoritism going on. I would definitely never recommend this place to anyone! Apply at your own risk!"
Analyst (Former Employee) says"Horrible benefits, long work days, low salary, large staff in India that do not understand English, cheap and low grade computer systems, bad management,."
Director (Former Employee) says"India calls the shots, even for the few USA based personnel. Rules are totally different for them vs US. Board has no clue how to manage direction. Lifes too short for the degree of dysfunction in a work place you will experience every minute of every day there.NoneEverything else"
Sr Manager (Former Employee) says"Management is unethical and expects employees to cover things up or take the fall for their bad/unlawful decisions. This company bleeds money and continues to be fined. Why is it allowed to remain in business? Managers violate HR policies daily as well.NoneEverything about the company"
Residential Sales Consultant (Former Employee) says"Workplace culture is awful. Management is horrible they yelled constantly, mostly due to the pressure from upper management. The hardest part of the job was watching HR come down Thursday afternoons and tap someone on the shoulder and you never saw them again.It was a jobEverything"
Accountant (Former Employee) says"Would never work for this company. My manager was only money driven and was fired due to he beat up an employee at a company picnic and broke the employees jaw. Big lawsuit and they did everything to keep the guy until the company was sued and then fired him when they lost the suit.noneHustle, fast paced- managers were idiots and abusiveWow, no such event ever happened at any of our locations and since we do not have any accountants in Orlando, I believe you left this review on the wrong company."
Desktop Support Analyst (Former Employee) says"they did not help with future employment just a number as long as you are making money for them they are happy once the contract ends so does their interest.nonenone"
Junior Process Control Engineer (Former Employee) says"tenure was small because employees are expected to work without proper training which is difficult. pay wise it is good. subsidized lunch and snacks available."
Sr. Business Systems Analyst (Former Employee) says"bad management, low salary, an hr department very similar to the Gestapo. The company is clearly unaware of how to do business. There is no understanding or value to technology or business practice.none"
Senior Document Control Specialist (Former Employee) says"no future, positions were eliminated due to lack of funds and multiple lawsuits drove company to having to eliminate positions. Notice was to short with no time to find other place of employment."
Manager (Current Employee) says"Ocwen is being sued not only by the CFPB but by multiple states. There are round after round of layoffs. Stressful environment. Management has NO idea how to save the business as law suits keep rushing in. Management doesn't communicate and employees run around trying to put band-aids on the hemorrhaging business with no success. Truly the WORST place I have ever worked.NoneManagement is horrible"
Manager, Vendor Management - Attorney Management (Former Employee) says"I would not recommend anyone work for Ocwen, they are a bad company with a bad culture that doesn't empower its employees. All the company cares about is making money and has been caught on multiple occasions for fraudulent activities with their customers.NoneEverything"
Sr. Loan Processor (Former Employee) says"I wouldn't recommend this employer. This is a production driven environment however there is no work to be productive. Management is not helpful nor knowledgeable.Ping Pong table, nice break roommanagement no experience in field, no work for production"
Customer Care Coordinator (Former Employee) says"Would not recommend this place to anyone. Strenuous hostile environment, the training is a joke, and there is also a lack of help from management. You are not encourage to ask question to ensure accuracy you are to try find answers while customers are waiting and upset."
Alterra Wealth says"@Ocwen_Help DM Sent"
SNN Network says"$OCN Ocwen Financial Delivers Strong Originations Results in July and August https://t.co/B6H8cxSMZ8"
Ocwen Financial Corp says"@AlterraWM We are sorry to hear about your experience with PHH. Please send a direct message with your contact numb… https://t.co/04jYOEDOH4"
In The News
Lexology reports"Mortgage Loan Servicer's Failure to Plan for Errors is Costly"
Reuters reports"7th Circuit slashes homeowner’s punitive damages award in suit against Ocwen"
Seeking Alpha reports"IPOB leads financial gainers, OBNK and GNW among losers"
Law360 reports"Ocwen Beats Florida AG's Unfair Trade Practices Claim"