Notice of servicing transfer to Ocwen loan servicing

juana

LoanSafe Member
Aug 14, 2008
41
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Thanks for the reply KimberlyS. Today I called Ocwen costumer service. They can see that I was denied for and HAMP and they told me that I was still in review for an inhouse modification. I have an appointment with my "relationship manager" on 3/18 who will update me on my loan mod status. I will relay back to this forum next week.
 

CtHell

LoanSafe Member
Jun 28, 2010
8
0
0
Ct.
I also spoke to Ocwen for the first time last week and have a phone appt on the 25th. Of course it seems they are out sourcing their calls to India as Homeward but I was able to understand them long enough to get through the call. I was denied my hamp because missing documents...again, which was sent out several weeks ago so everything normal there. We are waiting for any residual paperwork to show up before my phone appt. and probably have to fill out new paper work with them which was expected. The web site seems user friendly and I'm thrilled that someone is going to actually call me without having to call them dozens of times with no response. I really hope they are going to be more organized, the future will tell.
Homeward in my experiences is just like my tenant that wont leave, impossible to deal with, you night as well be talking to the wall. They are whacking me almost $1500 in late charges and $470 for collection costs. Its great when your having a financial hardship you have to pay extra as a punishment, and people wonder why it takes so long to get out of debt.
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
Hi all,

So just got off phone with Relationship Manager with Ocwen. Basically I am still in review for the nonHAMP since I was denied a HAMP from my previous servicer,Homeward Residential. I found RM to have no personality. I dont feel like he would be much help to me in this process.

But "RM" wanted to sent me another HAMP packet to be submited to OCWEN since I may still qualify under them.
I told him I would wait to see if my non-Hamp mod gets approve before sending another HAMP packet.

But something tells me they dont even have my old paperwork and they need a new packet from me to even start. My situation has changed since last 7 months. I am no longer on state disablity and has since returned to work. So that would effect my prospects of getting a mod.

Have another appt in 2 weeks and will update you all then.
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
KimberlyS,

Question for you. I know you were denied for HAMP with previous servers. After that were u in review for a inhouse mod? Did you wait for an answer to the inhouse mod before resubmiting a new application to OCWEN?

They are telling me that I am in review so should I just go ahead and resubmit another application with them or wait until I get an answer from the non-Hamp mod?
 

KimberlyS

LoanSafe Member
Jun 30, 2012
451
1
0
Hi juana- When my loan transferred over, the status was "HAMP pending" because I'd made all three trial periods on the trial HAMP with the previous servicer. They declined to make it permanent before transferring the servicing of the loan, over a title issue, in violation of HAMP guidelines, actually. Even though I'd sent Ocwen copies of my cleared checks and the initial announcement of HAMP trial, they were unable to make it permanent. They tried for about 7 weeks, and finally the woman I worked with suggested that if I fill out new paperwork it would be easier. I was concerned a bit because some time had passed since my initial hardship, but I was still able to qualify.

Do you think you'd qualify for HAMP? Regardless, I'd say it's highly likely that they'll want a new packet. But I only base that on them wanting a new packet from me! I get the impression that they like things done a certain way, and paperwork from other servicers isn't close enough. I had to re-do a couple of forms because they weren't exactly the form they wanted. (Even though I'd been sent that form by an Ocwen employee! But whatever.) And when they called for clarification and wanted me to re-do my financials, they were quite particular with how it needed to be reported.
 

CaliKitten

LoanSafe Member
Mar 5, 2012
7
1
3
Also transferred to Ocwen & need some help....

Greetings from California,

Just this month our primary loan w/Homeward was transferred to Ocwen. We are constantly running 2 pymts behind due to husbands unemployment several mos ago. He finally got back to work, thank God, but catching up is an uphill battle w/late fees accumulating. Another twist to the story is that our 2nd that was with another lender ALSO went to Ocwen at the same time. The 2nd hasn't been paid on since mid 2008...I guess I started the "trying to settle 2nd" game before I ever even knew what it was! So, here is my dilemma.....I spoke w/ocwen & was sent a Hamp packet to fill out. When speaking with them & also when accessing my primary loan on their website, my 2nd has never been mentioned? When setting up online access, SS#'s are required, you would think it would be sophisticated enough to link to both loans...? When looking at the Hamp paperwork, it ask's "is there another loan on property, if yes, who is the servicer?"....ummmm....you are, but dang, I hate to bring it to their attention ya know? Not that I think for a second that they "forgot" about me..maybe because of it's status, the loan is elsewhere within the Company. But they don't see it even when I call them? Odd...anyone else experience this?

Second question...when listing all bills we owe, do I include CC's that are long since charged off & some even past the SOL? How the heck would I even be able to figure out what I "would owe" on them monthly, if I were to start paying them, which I am NOT going to do?

I think maybe I shouldn't even try for a mod because my property is worth more than I owe....or is that even a factor? If they would just say"hey, we'll move those two payments to the end of your loan", I would jump for joy. But we all know that ain't gonna happen. I've gotten myself into quite a pickle here and not quite sure how to proceed...any advice is much appreciated!
 

frazzeled

LoanSafe Member
Apr 10, 2008
39
0
0
Washington
We loan was just recently transferred to OWCEN as well from Homeward. We recieved final loan mod documents and returned them on Feb 26. Today I receive a call from OWCEN asking if I would like to make an appointment with a RM to discuss my options. after explaining several times that we received a modification and that our first payment is due April 1,st he was still insistent that he does not show an approval and now I have an appointment scheduled for March 22.
Can this really be happening? Any advice would be appreciated.
 

KimberlyS

LoanSafe Member
Jun 30, 2012
451
1
0
We loan was just recently transferred to OWCEN as well from Homeward. We recieved final loan mod documents and returned them on Feb 26. Today I receive a call from OWCEN asking if I would like to make an appointment with a RM to discuss my options. after explaining several times that we received a modification and that our first payment is due April 1,st he was still insistent that he does not show an approval and now I have an appointment scheduled for March 22.
Can this really be happening? Any advice would be appreciated.
Just tell them that you have paperwork for the final loan mod, and where would they like you to fax copies so they can see them? It takes time for all the details of the loan to get in the system. Months, really.

Adding: I wouldn't be surprised if your previous servicer didn't enter anything into the system, if the transfer took place on March 1. (Not sure when it took place.) If you have final papers, you can fax them to Ocwen yourself, they have a fax number specifically for that, and the fact that it's not showing in the system makes perfect sense, given the timeline.
 
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KimberlyS

LoanSafe Member
Jun 30, 2012
451
1
0
We loan was just recently transferred to OWCEN as well from Homeward. We recieved final loan mod documents and returned them on Feb 26. Today I receive a call from OWCEN asking if I would like to make an appointment with a RM to discuss my options. after explaining several times that we received a modification and that our first payment is due April 1,st he was still insistent that he does not show an approval and now I have an appointment scheduled for March 22.
Can this really be happening? Any advice would be appreciated.
Hi again! My notes say that this is the fax number for the "loan set up department": 561-682-8151

This is where they had me send documents that they didn't yet have record of when I first transferred over. It took my account I'd say six months to have everything in their system. My house was in foreclosure when the loan was transferred, so I didn't really have time to wait for everything to happen in its own timing!!
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
Hi All,
I just received email from my Ocwen on line.

It states: Your application for the Mortgage Assistance Program has been received, and it is being reviewed. It takes approximately 30 days for us to complete our review. As soon as the review is complete, we will contact you regarding the status of your application. If it has been less than 30 days since you submitted your application, we ask that, if possible, you please avoid calling for status updates, as nothing will have been updated until the review is complete.

So at least they finally received my HAMP packet from Homeward Residential and I will take their advise and not bug them for the time being. Note I have not resubmited a new HAMP packet to Ocwen. This is the old packet that I submited to Homeward Residential.
 
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juana

LoanSafe Member
Aug 14, 2008
41
0
0
Hi there,
I just had an appointment today with my RM. He said that he needed 2 recent pay stubs which I promptly faxed in .

My hardship began 7 months ago. I was not working and was receiving state disability for half a year at $1000 per week. My mortgage, tax, association alone is $3100/month. I was behind on all my bills especially my $120,000 private student loans which are calling everyday for full payment.

Since then I've now returned to work. My gross is $10,000 to $11500 (per diem job gives extra $1500) a month which means my mortgage is about 31% of my gross. Student loans are still calling me wanting their money. i've exhausted all my savings ($40,000) becaused I settled with some of the student loan. Oh yeah i have tons of medical bills($20000).

My question to the experienced members is will they modify me now that i am making money though my debt to income is high? I welcome anyones opinion.
 
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Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Since then I've now returned to work. My gross is $10,000 to $11500 (per diem job gives extra $1500) a month which means my mortgage is about 31% of my gross. Student loans are still calling me wanting their money. i've exhausted all my savings ($40,000) becaused I settled with some of the student loan. Oh yeah i have tons of medical bills($20000).

My question to the experienced members is will they modify me now that i am making money though my debt to income is high?
Hey Juana,

Even though your income has increased and your payment is now approximately 31% of your gross monthly income, it is still possible to achieve a modification and I would definitely not give up! Since your package was confirmed it was received on the 30th of March you will probably have another 30-60 days before a decision is made.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Greetings from California,

Just this month our primary loan w/Homeward was transferred to Ocwen. We are constantly running 2 pymts behind due to husbands unemployment several mos ago. He finally got back to work, thank God, but catching up is an uphill battle w/late fees accumulating. Another twist to the story is that our 2nd that was with another lender ALSO went to Ocwen at the same time. The 2nd hasn't been paid on since mid 2008...I guess I started the "trying to settle 2nd" game before I ever even knew what it was! So, here is my dilemma.....I spoke w/ocwen & was sent a Hamp packet to fill out. When speaking with them & also when accessing my primary loan on their website, my 2nd has never been mentioned? When setting up online access, SS#'s are required, you would think it would be sophisticated enough to link to both loans...? When looking at the Hamp paperwork, it ask's "is there another loan on property, if yes, who is the servicer?"....ummmm....you are, but dang, I hate to bring it to their attention ya know? Not that I think for a second that they "forgot" about me..maybe because of it's status, the loan is elsewhere within the Company. But they don't see it even when I call them? Odd...anyone else experience this?
Hello Calikitten,

Your 2nd mortgage has got to be charged off by now if you haven't paid on it since 2008 so it will definitely be with another department at Ocwen. They will hold this account in collections or transfer it to a debt collector to work on a possible settlement. You should be able to eventually settle this account for as little as 5-10 percent of the balance as they obviously are in no position to pursue foreclosure on your property.

Second question...when listing all bills we owe, do I include CC's that are long since charged off & some even past the SOL? How the heck would I even be able to figure out what I "would owe" on them monthly, if I were to start paying them, which I am NOT going to do?
There's no reason to include any past due CCs that have gone past the SOL. They will pull your credit report to see any debts you have obtained so they will be well aware of the credit card balances.

I think maybe I shouldn't even try for a mod because my property is worth more than I owe....or is that even a factor? If they would just say"hey, we'll move those two payments to the end of your loan", I would jump for joy. But we all know that ain't gonna happen. I've gotten myself into quite a pickle here and not quite sure how to proceed...any advice is much appreciated!
Most people pursuing a loan modification owe more on their home than the property is worth and this will not affect your chances at receiving a modification. You will not find many members here at all who have some equity left after the housing crash.. Is your current payment affordable and you just want to get caught up? If so, you can avoid having to go through a modification and request a repayment plan. With a repayment plan they are going to increase your normal payment (probably for 3-6 months) until the arrears are satisfied.
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
Thanx Evan for the words of encouragement. I cant stand the suspense and antipication. I check my Ocwen account every day and follow the threads on loan safe religiously.
Received new email from ocwen today. It says financial packet has been sent out to me on 4/12/13. Dont know what this means. I will find out on Tueday when I talk to my relationship manager. Hope it is good news. Will up date u then.
 

KimberlyS

LoanSafe Member
Jun 30, 2012
451
1
0
Hey, Juana! I checked the website (my account) at least twice a day, I think! Looking forward to hearing your good news!
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
HI all,
My appointment is not until tommorrow with the relationship manager but now I know what " your financial package was sent out to you" email means. Basically I have to resend another HAMP package to OCWEN and wait again. Disappointed. MY hopes were too high. Thought I was closing in on my mod. Oh well back to the drawing board.
 

KimberlyS

LoanSafe Member
Jun 30, 2012
451
1
0
HI all,
My appointment is not until tommorrow with the relationship manager but now I know what " your financial package was sent out to you" email means. Basically I have to resend another HAMP package to OCWEN and wait again. Disappointed. MY hopes were too high. Thought I was closing in on my mod. Oh well back to the drawing board.
it is disappointing, but don't give up yet! (Not that you are!)
 

Sminu Minu

LoanSafe Member
Mar 17, 2013
3
0
0
Loan modification

HI all,My appointment is not until tommorrow with the relationship manager but now I know what " your financial package was sent out to you" email means. Basically I have to resend another HAMP package to OCWEN and wait again. Disappointed. MY hopes were too high. Thought I was closing in on my mod. Oh well back to the drawing board.
I got the same email on 12th l submitted the hamp papers on 28th march ,talked to RM 2 times and she said application complete under review, after i saw the email i called and 2 operators told me to disregard the email with financial package
 

frazzeled

LoanSafe Member
Apr 10, 2008
39
0
0
Washington
Our loan was transferred from Homeward as well. We were approved for an In-house modification. We signed our papers and returned them back in February. Or first payment was due April 1. I had an appointment call today with Ocwen and they are saying that we need to make a down payment, and that are mod is a trial basis only. That is not stated anywhere in the loan mod paperwork that we signed. Any suggestions on who I can talk with? I don't feel comfortable making our payment till we get clarification. I can't make a down payment plus make another payment for April.
 

juana

LoanSafe Member
Aug 14, 2008
41
0
0
Kimberly, thanx for being so positive. :smile1:You're right Sminu Minu about disregarding the financial package. I spoke with my RM today and he only wanted another updated paystub. I only gave 1 last time because I barely went back to work. I actually stayed up all night to finish the HAMP application like it was my homework assignment due the next morning only to not need it.
My next appointment is 4/24/13 so update u all then.

I got the same email on 12th l submitted the hamp papers on 28th march ,talked to RM 2 times and she said application complete under review, after i saw the email i called and 2 operators told me to disregard the email with financial package
 
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