Ocwen accused of stalling short sales

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Ocwen just can’t get out from under the spotlight of housing regulators. This time the servicer is being accused over whether it improperly stalled short sales by borrowers who owe more than their.

Ocwen being accused of deceptive and illegal business practices.. Ocwen is the worst. I process short sales, and the payoff letters I obtain from Ocwen are ridiculous. Last one was a $300,000 with $80,000 tacked on for taxes and fees. They’re the worst in the business.

Ocwen changed its policy in April 2015 to address the difficulty its call center had in recognizing and escalating complaints, but these changes fell short. Under its new policy, borrowers still have to complain at least five times in nine days before Ocwen automatically escalates their complaint to be resolved.

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www.ocwen.com Ocwen Loan Servicing. without the hassle of a short sale. Complete & return this application F short sale ind a buyer and sell your home to settle the debt with Ocwen. If you qualify, relocation assistance may be available.

According to the article, Ocwen is being is not following a new rule that requires mortgage servicers to approve or deny a short sale within 30 days of an application and is instead delaying such sales to collect more fees. In short sales, the lender gets the proceeds of the sale and relinquishes the balance of the mortgage.

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