Glitches, complaints plague Ocwen, other mortgage servicers

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Glitches, complaints plague Ocwen, other mortgage servicers

Glitches, complaints plague Ocwen, other mortgage servicers

As long as the government continues to kiss their asses, these abuses are never going away. Not to mention the government officials planning their exit strategies to go work for those they investigate.


LA Times-

Tyesha Hansborough and her husband, Christley Paton, had paid the property insurance on their Inglewood home along with their mortgage, putting the money in escrow like most homeowners.

Trouble is, the couple said, their mortgage servicer — Ocwen Financial Corp. — didn’t pass that money on to the insurance company for this year’s premiums.

They battled unsuccessfully for months to reinstate the lapsed policy without additional costs, the couple said. Ocwen instead imposed so-called force-placed insurance — expensive coverage that protects the lender’s interest but doesn’t shield the homeowners from loss.

“There have been so many home-invasion robberies around here, and if that were to happen to us, we wouldn’t be covered,” Hansborough said, prompting Patton to say: “I feel like we were robbed — by Ocwen.”

[LA TIMES]

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