Ocwen Mortgage Complaint

Ocwen Mortgage department,

FHA mortgage Loan modification,collection,foreclosure California

Ocwen rescinded a written short sale approval letter days before our scheduled close date by way of a service transfer which is a direct violation of Making Home Affordable Program Handbook of Servicers for Non-GSE Mortgages Paragraph -. Ocwen did not transfer necessary data and documentation including the information of the authorized advisor who would be the acting listing broker. We are trying to close - -, 2015 and the buyer 's lender is ready to fund - -, 2015. However, without formal preliminary HUD approval from Ocwen the transaction can not close. The first has approved the close date of - -, 2015. If the first lender does not receive their money on - -, 2015 as they have approved. The first approval becomes null as " buyer/seller '' did not meet obligations of the written agreement. This is no fault of the buyer or seller, but the fault of Ocwen who serviced/investor released the loan during an active


Dates : - -, 2015 : First lender, - - -, approved the - short sale with a closing date of on or before -/-/15 - -, 2015 : Second lender, Ocwen, approved the - short sale with a closing date of on or before -/-/15 - -, 2015 : Broker and/or Seller ( borrower ) request for preliminary final HUD approval for a close date of -/-/15 per the instructions of the approval letter from both the first and second lender - -, 2015 : First lender, - - - approves preliminary final HUD to proceed with the closing - -, 2015 : Broker and/or Seller ( borrower ) place second request to the second lender, Ocwen, for preliminary final HUD approval per the instructions of the approval letter - -, 2015 : o Broker calls Ocwen to follow up on the status of preliminary HUD approvalo Ocwen bounces the call to a company called - - - who will now be the point of contacto Broker is not authorized to speak to - - - as is told to email/fax in authorization to speak on the account and wait 24-48 hours for authorization to be receipted ino Broker calls CFPB for - assistance ( speaks with - -, - -, and - - - to step in to contact Ocwen. CFPB informs broker that the web is the only way to file a complaint as they can not do anything since broker did not have a " question. " It is with much sadness I write that all the above mentioned CFPB representatives are not trained to be preventative. The protocols that are in place only serve to " remedy '' situations once it becomes a tragedy. The CFPB needs to understand that preventative measures are more beneficial in the long run than trying to cover a larger wound with a band aid that could have been prevented all together. I desperately called the CFPB for assistance and went on deaf ears because all the CFPB could offer was an investigation that would take weeks. I had mere hours to remedy this catastrophic event that the CFPB would not recognize until it explodes on - -, 2015.