Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4699832
Complaint Overview
Complaint ID: 4699832
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Massachusetts
ZIP Code: 02186
Date Received: 2021-09-07T12:00:00-05:00
Date Sent to Company: 2021-09-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My mortgage was opened in XXXX with a maturity date of XXXX. Over the years I have refinance and also did a modification in XXXX but in all instance my maturity date remained XX/XX/XXXX. In XXXX I requested a 2nd modification, it was approved. I was excited to get the modification because I needed the assistance so I signed it, I did not realize it was a balloon payment with a new maturity date of XX/XX/XXXX. I found out about the balloon payment over the summer of XXXX. I was told I could complete a mortgage assistance request which I did but it was denied..reason my mortgage was current and affordable. I was then told I can refinance, I tried refinancing with the same lender PHH I was told everything looked good and the next step would be my closing, after not hearing anything I reach out and was told I was denied because in XXXX I became ill and my mortgage payment fell 2 months behind. I reached out to XXXX XXXX XXXX for assistance, we contacted the lender together and after 2 hours on the phone with the escalation department ( spoke to : XXXX # XXXX ) and the modification department ( spoke to XXXX ) I was told my only option was to do another mortgage assistance request or find another lender to refinance. While we were on the phone an attempt was made by XXXX to set an appointment with my relationship manager. XXXX stated there was a flag on my account indicating no appointment can be set up with my relationship manager and also that she was not authorize to reach out to a supervisor. I completed another mortgage assistance phone intake today XX/XX/XXXX, I was told in 5 days I will get something in the mail me letting me know my options. My balloon payment is due in less than 30 days amount of {$380000.00}, this is impossible for me to pay and PHH shuts me down with every request I made to resolve the situation. My only request to PHH is to put my maturity date back to XXXX. I have included the XXXX modification agreement showing the change in maturity date.
Frequently Asked Questions
What is Complaint #4699832 about?
Complaint #4699832 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-07T12:00:00-05:00.
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.