This Business is not BBB Accredited
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Ocwen Loan Servicing, LLC is not BBB Accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that lowered Ocwen Loan Servicing, LLC's rating include:
- 3321 complaints filed against business
- Failure to respond to 2210 complaints filed against business.
- 125 complaints filed against business that were not resolved.
- Length of time business has taken to respond to complaint(s).
- Business has failed to resolve underlying cause(s) of a pattern of complaints.
Consumer concerns include inability to reach the same person at the company in order to discuss their problems and dissatisfaction with what consumers feel are excessive add-on fees. Other concerns include not processing of payments in a timely fashion and failure to respond to requests for loan modifications in a timely manner. The company states that fees associated with each loan are agreed to as part of the loan servicing agreement it has with the owner of the loan which may be the loan originator or investors, not the consumer.
Customer Complaints SummaryRead complaint details
|Complaint Type||Total Closed Complaints|
|Advertising / Sales Issues||55|
|Billing / Collection Issues||1672|
|Guarantee / Warranty Issues||4|
|Problems with Product / Service||1563|
|Total Closed Complaints||3321|
Additional Complaint Information
Most complaints indicate that consumers have tried unsuccessfully to get their issues resolved directly with Ocwen before contacting the BBB for assistance. However, Ocwen does not respond to complaint issues through the BBB citing privacy concerns.
Ocwen advises you may address your request to the Office of the Consumer Ombudsman at (800) 390-4656 Monday through Friday 9:00 a.m. through 5:00 p.m. Eastern Time. You will need to provide your loan number and the last four digits of your social security number.
If you are not a borrower on the account,they must receive authorization from the borrower in order to respond to your request. You may attach the borrower's written authorization to your email, fax it to Customer Service at (407) 737-6300, or have the borrower contact Customer Relations by telephone at (800) 746-2936.
In the future, you may access the Ombudsman link directly at www.ocwencustomers.com and click on the Ombudsman under the section 'Ocwen Consumer Ombudsman' to enter the account information.
Customer Reviews Summary Read customer reviews
42 Customer Reviews Customer Reviews on Ocwen Loan Servicing, LLC
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||42 Customer Reviews|
The FTC has consumer information on Mortgage Servicing by clickingk here.
Consumers who have been unable to speak with a representative about the progress of their HAMP or HAFA modification can contact the Homeowner's HOPE Hotline at 1-888-995-HOPE (4673) or www.makinghomeaffordable.gov for more information and assistance.BBB file opened: 10/01/2004Business started: 01/01/1998
Licensing, Bonding or Registration
The company is regulated by the jurisdictions of all 50 states, the District of Columbia, Puerto Rico, Guam and the U.S. Virgin Islands. According to Ocwen, not all jurisdictions currently impose licensing requirements, but all jurisdictions regulate the company's activities.
Contact InformationPrincipal: Office of Consumer Ombuds Mr. William C. Erbey (Chairman & CEO)Mr. Ronald M. Faris (President)Mr. Rob Kaltenbach
Loan Servicing, Collection Agencies, Mortgage Brokers
Products & Services
Residential and commercial loan servicing.