Mortgage -- Trouble during payment process -- Complaint #5468310
Complaint Overview
Complaint ID: 5468310
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Illinois
ZIP Code: 604XX
Date Received: 2022-04-19T12:00:00-05:00
Date Sent to Company: 2022-04-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
1 ) The loan originated in XX/XX/XXXX ( XXXX financed ) with GMAC not XXXX, in XXXX GMAC says my balance was {$120000.00}, between XXXX and XXXX it is reported that I refinanced a total of 3 times for approximately XXXX in XXXX, XXXX in XXXX and another XXXX in XXXX. 2 ) GMAC sold the loan to Ocwen in XXXX, I have not found what the balance was at that point. 3 ) Ocwen transferred the loan to PHH in XXXX with a balance of {$110000.00}. 4 ) There were some loan modifications and there were 4 foreclosure proceedings that were brought current through me making payments of the outstanding amounts plus fees. 5 ) It looks like there are some payments missing, I gained approximately XXXX to my original balances, so where did 17 years of payments ( give or take ) go? 6 ) Using a simple mathematical calculation, if I paid a mortgage of {$540.00} every month for 19 years thats about {$120000.00}. 7 ) In my opinion there are not enough fees that can cause {$120000.00} of my money to totally disappear into thin air. 8 ) Using a basic amortization schedule a payment of {$540.00} for 228 months leaves a balance of {$57000.00}, what kind of fees would magically more than double that amount to {$120000.00} instead??
Frequently Asked Questions
What is Complaint #5468310 about?
Complaint #5468310 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-04-19T12:00:00-05:00.
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.