By K.K. MacKinstry
Ocwen has admitted that its mortgage servicing policies and loan processing systems are a “trainwreck”. As regulators and the Consumer Fraud Protection Bureau (CFPB) tighten the noose on Ocwen, we recommend that Livinglies readers who have experienced issues with Ocwen contact their state Attorney General offices, the CFPB, state banking regulators and government representatives to express your outrage and share your experience NOW.
Although Ocwen is being investigated for predatory servicing practices, please make regulators aware of the deeper level of fraud that is occurring and consists of fabricating and forging loan instruments including notes and assignments. If you have been subjected to any of Ocwen’s tactics that push homeowners into default please provide this information to the aforementioned agencies.
The regulators found that Ocwen manipulates escrow accounts to create defaults and problems with taxes and insurance, does not respond accurately to submitted Qualified Written Requests, fails…
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