It's hard to keep up. I knew Ocwen , around 2012 believe it was, moved most of their staff overseas when the DOJ Lawsuit hit them and they paid out somewhere around 2 billion dollars in settlement fees for doing all sorts of criminal things. Defrauding customers by manipulating records , mis-applying payments or posting them late to force customers homes into foreclosure. There's a long list. Most of it was supervised by the owner himself who by that time was a board member but from what I read he was and still may be, their largest stockholder. He got booted supposedly by the company, but it didn't change anything.
They bought PHH to lose the Ocwen name as far as public use due to all of the Lawsuits and scandal They've been found guilty of everything from running insurance scams to charging fees that are illegal that netted the company hundreds of millions of dollars. Insurance kick backs. Not keeping insurance or stealing escrow from customers accounts . If there's a mortgage crime they've done it and been found guilty of it in court. You can't slander them because they've been found guilty of pretty much every mortgage al, loan and insurance scam out there.
PHH came in and was basically continuing the same business practices, they ended up in lawsuits for and millions in judgements, pulled out around 2021 and moved most staff overseas also.
PHH started using New Rez a Home Mortgage Servicer to protect their and Ocwen assets. Legally according to RESPA you can't sue the loan holder for actions of the Home Loan servicer, you have to sue the servicer.
New Rez , based on what I've read online, all the thousands of complaints, is doing the same things.
Basically Judges and lawsuit lawyers state that most of these other merger and acquisition companies that OCWEN owns through their company or merged with through it's several other companies like PHH are nothing but shell companies to keep up appearances for Americans and because of all of the lawsuits.
Meaning they don't have any American staff. You'll notice when you try to contact th you nearly always speak to an Indian or someone in the Phillipines.
They're using these companies that have no staff or skeleton staff to handle the situation when it gets ugly, but their Ocwen and PHH over seas people are running the scam
They constantly lie to their customers, mishandle their loans, to the point mist customers have no idea what is happening and they use the confusion , lies and misinformation as a basis to foreclose on Americans homes.
That's exactly what the lawsuits were about. It's accidental. Everyone says you can't make contact with the people you're supposed to talk to about the loan and they constantly push you off on these foreign servicers that don't know what they're doing, and are being used to illegally foreclose on thousands of homes
The DOJ and state AGS have sued them constantly as well as thousands of individuals and they've paid out something like
2.5BILLION DOLLARS in judgements and settlements between the lot of them
As best as I can see they have business relationship with at least a dozen other do called companies or shells all of which are constantly being sued and judgements against them
They don't care because nobody has gone to prison yet,. They make their real money by pumping dumping these stocks
These are not conventional USA banks , Ocwen is basically a predatory stock company that buys up failing mortgagers and they basically dismantle them, take over the running of them, use the shell name to operate or a very small American staff, and run the scam from their foreign offices in India and the Phillipines
That's the short story. When Ocwen got sued and paid out that billion or so back in 2012 they were no longer allowed to service loans in many states nor make new contacts.
That's pretty much their story to this day. The same with PHH. Once the shell companies get into big trouble,. they buy another terd to cover their trail and start the pump again.
Always another deal. Buying another junker company that's distressed , taking on hundreds of thousands of unwary people's mortgages with the blessing of the government and people in high places in the stock world continue to let them operate
They don't care about their customers. Every person you talk to about it, read the complaints online, tell the same stories. They lie to them constantly, everytime they call they can't speak to anyone they're supposed to contact, they get transferred to these foreign scammers in the Phillipines and everytime they call, they're told a different lie or told to do something different. They use the confusion to delay, foreclose, charge people thousands in late fees, foreclosure fees, and it cost the customers their homes and lots of money unless they can sue them and get a large judgement.
By that time many times they have illegally foreclosed on a lot of people. Thousands according to online reports.
There's so many different type of loans now, particularly under and since the 08 melt down, the customers don't understand all of these predatory loan agreements and Ocwen, PHG and their subsidiaries, use them to their advantage to delay, manipulate, take advantage of their customers and eventually steal peoples homes.
There are people online reporting being in foreclosure and in lawsuits for years and years. You wouldn't believe. There's so many things going on here you literally can't begin to cover all of the things they've been accused of. All the lawsuits and reasons, basis of illegal acts the judgements we're founded upon.
The government to date, hasn't done s thing except take and make settlements. They have to know who is doing it because Ocwen and their many shells are always in the middle of it. Always being sued. Lawyers make videos all over YouTube about them. Lawyers sites have entire web pages dedicated to their crimes
Customers say when they've contacted these employees of Ocwen , PHH and New Rez and tell them they're suing they laugh at them and tell them things like ""Go ahead and sue us we have thousands of lawyers we don't care". They don't. That's why care about stealing peoples homes.
Nobody has gone to prison YET for these intentional crimes. It's criminal what they do. Someone and many employees should be going to prison. So far they haven't but that's about to change from what I'm hearing.
