2do Mortgage - Ocwen PHH NewRez Nationwide Direct Inc

OneHugeMess

LoanSafe Member
I just want to clarify that “Mortgage Servicing Rights” or “MSR’s” are not actual portfolios of loans. They are the servicing rights, to collect payments from homeowners and pass the money to investors — minus a servicing fee of 0.25 or 0.75%.

THE actual loans themselves did not get bulk endorsed over to NewRez.
 

moretrouble

LoanSafe Member
You’re exactly right. That’s why they did not try to collect and sued you for the amount. The servicing rights include the collection rights. My HELOC was in the trust, the trust was terminated became an orphaned loan. I sent Shellpoint a QWR to identify a creditor, no reply.
 

moretrouble

LoanSafe Member
I went back and review all my correspondence from Shellpoint and they did sent me a letter informing me the new owner of my HELOC was US Bank as trustee of NRZ recovery trust. In a separate letter Shellpoint is the new servicer transferred from Ditech. They did not explained how NRZ Recovery trust acquired my loan and from who? from a defunct originator? This is similar to my first from a defunct Ameriquest. I can smell some fake documents in the making. By the way, it's been 4 months they have not replied to my QWR letter.
 

JessicaMarquez

LoanSafe Member
After many loan transfers from a mortgage company to another, Ocwen offered us a loan modification 10 years ago. The loan modification was only for the 1st mortgage. We got a debt cancellation form as well from them. We have been paying them since then and now Ocwen is PHH/RewRez. Since then, we never knew about what really happened to the 2nd mortgage since Ocwen never collected the loan. We are now trying to sell the house and it looks like that there is a lien on the 2nd mortgage with Nationwide Direct Inc and according to NDI, Ocwen wrote off the 2nd mortgage. NDI now tells us that we owe the loan. There is no documentation that Ocwen, or PHH/New Rez can produce about the 2nd mortgage.

The loan does not show in our credit reports. NDI has not made any attempt yet in collecting the loan.

The property title points to the first mortgages for the house. The mortgage company already sold the mortgages to another company.

Any ideas on how to solve this? How do I really know if there is a lien? Why the loan modification did not include the 2nd mortgage? Is the loan tied to the mortgage? Is there a statute of limitations? The house in question is in Florida.
Hello,

This is happening to my mortgage as well. I had two mortgages from 21st Century Mortgage and then got a loan modification from Ocwen and now all of a sudden we are trying to refinance our home and there is a second lien on the home from a bank that doesn't exist. I have been trying to settle this with Ocwen since last year September 2020. They are yet to give me an answer. I filed a complaint on the consumer website and they say that they have closed the second mortgage, that Ocwen closed it. Although I am asking who do we pay, where is this ghost loan? Please if anyone can help. I will post a more detailed question.
 

JohnFL

LoanSafe Member
What do you mean by Ocwen closed the 2nd mortgage? Do you just mean that Ocwen closed the complaint? I live in FL and in same problem. Want to sell house but have ghost 2nd. My 1st and 2nd were owned by New Century in 2005. That is what still shows for 2nd. However, Deutsche bank bought 1st during modification with Ocwen in 2009. Maybe try Deutsche to see if they still have 1st and 2nd. I can give you contact at Deutsche but they told me they do not negotiate. Contact is [email protected] They will only tell you if they had certificate in the past. They told me to contact Ocwen for first but did not know who serviced 2nd. Good Luck, please keep us in loop
 

moretrouble

LoanSafe Member
All these subprime loans originated by subprime lenders like Ameriquest, New Century, GMAC more than likely are in recovery trusts controlled by NewRes. New Res bought Shellpoint and also contracted Ocwen to hound you to pay. The originators can not sue you because they are no longer around. The original sponsor Residential Funding went bankrupt and committed fraud in securitising loans in bankruptcy into multiple trusts so it can not S ue you. Ocwen bought Rfc’ S servicing rights in rfc (REsCap) bk proceeding. Ocwen sold call rights to New Res, NewRes excercised the call rights now claim to be the owner of theses loans and demand payments.
The default servicers (Ocwen, Shellpoint, Bank of A) often file foreclosure suits in the name of bank of New York as trustees of the various trusts but that’s a lie because the trusts no longer own these subprime loans. They try to make the suits look legitimate.
My first was from Ameriquest, my Heloc was from hsbc. I have all the trust certificate holders reports . No loss from the trust. Loan not in trust. Facts are in court records. Filed complaints state AG, FTC,CFPB, DOJ…

they are not lenders or real investors just debt collectors trying to profit by stealing from taxpayers and home owners.
 

JohnFL

LoanSafe Member
I smell a big scam coming. I think Ocwen created PHH so that they look like a different company. After Coronavirus forbearance they are going to foreclose on all these homes with quiet 2nds. For example. Ocwen did a modification for me in 2009 for 1st, where Douche bought 1st. It was funny because 2nd then became quiet, never heard from them again. Well, come to find out Douche bank owns both 1st and 2nd loans. Now, say I default on 1st after forbearance agreement is up, Douche can then foreclose stating they own 1st and 2nd(with interest). Ocwen was involved in setting all of this up but can now step back and say they arent involved. This just shows how money wins, always wins. Then people wonder why people have lost faith in Democracy. It's not Democracy when money runs the game by owning politicians who do their bidding.
 

Survivor_IN

LoanSafe Member
I think they will attempt to collect the "silent second" when they have cause to "collect on the first" (they are holding both) ... such as sale of property, refinance or foreclosure. Yet, in most cases, with no payment for 5, 7, 10, 15 years, they are beyond the Statute of limitations, especially when you have NOT made a payment and they have NOT made a demand for it. (legally or otherwise) It's a bit devious if you ask me. They mislead you when the issue comes up. They've already lost legal rights to the claim. There have been investor lawsuits over the servicer holding these unresolved seconds in order to assess fees on it and profit off the cough, maintenance fees they get. At this point, the only thing left is to be proactive with a quiet title (on the 2nd) so you can move on with your finances and disregard any collections attempts or interference at this late date. Just google your State's UCC (business law/Note/contract section) on it for SOL. It's in there. It is often NOT indefinite. But they (OC and friends) don't have to volunteer it and they will piggyback a claim from the first.
 

Survivor_IN

LoanSafe Member
Plus, I don't think they can even TRY to collect (other than frclsre a lien for prop) if the 2d has been in bk. So many underwaters in these filings. It would violate terms of bk if you didn't reaffirm the contract. (Some have some haven't) They would have to have "notice" of an event and they (gleefully) would have knowledge 'cause they are the investor. Appears servicers invest is them as a side game. Otherwise, who is going to pay off a bank that is no longer in existence?
 

Jzone

LoanSafe Member
Plus, I don't think they can even TRY to collect (other than frclsre a lien for prop) if the 2d has been in bk. So many underwaters in these filings. It would violate terms of bk if you didn't reaffirm the contract. (Some have some haven't) They would have to have "notice" of an event and they (gleefully) would have knowledge 'cause they are the investor. Appears servicers invest is them as a side game. Otherwise, who is going to pay off a bank that is no longer in existence?
Even though banks dissolve, they still have some "assets". Like mortgage debt. These are sold, assigned and transferred to other banks or investors.

I've been dealing with my 2nd lien situation almost 10 years after bankruptcy. I had a 1st and 2nd mortgage and did not reaffirm either one. Still current with my 1st but stopped paying on the second.
My original bank doesn't exist anymore, but of course the lien has been assigned now to two different debt buyers disguised as mortgage servicers. They are very careful in the wording of their once a year letter to "collect". They legally are not trying to collect a debt, they are trying to enforce a lien.
Fortunately, a once a year letter is all I have ever received. Mortgage forbearance ends on Sept. 30, so I expect another huge foreclosure event coming on that will probably equal or be greater than the housing crisis of 2008.
 

JessicaMarquez

LoanSafe Member
I went on the CFPB website and put in a complaint on Ocwen since they were not helping me. Pretty much PHH is now who we are dealing with and they just took over servicing in 2019 so they are trying to play the game that they just took over. I got them to respond although they are still saying we owe the second lien on the home which is about $58,400 but that ocwen closed it. I asked them if Ocwen closed the account who do we pay the money to and I still have not hear back.
 
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