Ocwen CEO Vows to Shrink Servicer as Complaints Rise

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Ocwen CEO Vows to Shrink Servicer as Complaints Rise

Ocwen CEO Vows to Shrink Servicer as Complaints Rise

Bloomberg-

Ocwen Financial Corp., which agreed with regulators in December to improve its mortgage servicing, sent Nathan Fitzgerald a notice saying his loan was in default. If he didn’t send a $2,266 check immediately, Ocwen said, it would foreclose on him.

The warning in January shocked Fitzgerald, who said he never missed a payment on his three-bedroom home near Napa, California, and sent Ocwen bank records to prove it.

“This is a nightmare,” said Fitzgerald, 53, owner of a real estate and investment firm. “I have spent endless hours on the phone trying to get this fixed, and I’ve gotten nowhere.”

[BLOOMBERG]

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