Mortgage -- Trouble during payment process -- Complaint #11474978
Complaint Overview
Complaint ID: 11474978
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Massachusetts
ZIP Code: 025XX
Date Received: 2025-01-10T12:00:00-05:00
Date Sent to Company: 2025-01-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The subject mortgage was in default, we eneterd into the mortgage company to settle the default by obtaining a settelment amouint of {$480000.00}. The settlement amount considered all factors. Prior to the settelement, the escrow account had a balance north of {$30000.00}, this amount was funded by the mortgage company. The agreements we entered into never stated that the maount of escrow will aslo be applied to the pay off balance. According the agreement the pay off balance was {$480000.00}. Sfter we closed I spoke to PHH Mortgage and requested the balance, I was told that I needed to wait 20 days to settle the escow, PHH Mortgage has not paid the balance to us.
Frequently Asked Questions
What is Complaint #11474978 about?
Complaint #11474978 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2025-01-10T12:00:00-05:00.
How did Ocwen Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Ocwen Financial Corporation?
Yes, visit the Ocwen Financial Corporation company profile at readthecomplaint.com/company/ocwen-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.