Mortgage -- Closing on a mortgage -- Complaint #5567634
Complaint Overview
Complaint ID: 5567634
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage
State: Florida
ZIP Code: 33436
Date Received: 2022-05-16T12:00:00-05:00
Date Sent to Company: 2022-05-16T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
Received a HELOC in XXXX with XXXX XXXX. They were closed and the loan was transferred to XXXX XXXX. They transferred the loan to Ocwen, which later became PHH Mortgage. In XXXX we fell behind in payments and could no longer make the payments. I tried to negotiate with them but they declined to help in any way. In XXXX of XXXX I received a 1099C Cancellation of Debt dated XX/XX/XXXX ( Attached ) Until late XXXX ( almost 7 years later ) I did not receive anymore communication from anyone until I started receiving letters of transfer to other lenders, first it was Ocwen to PHH Mortgage, then PHH to XXXX XXXX XXXX, the XXXX XXXX to XXXX XXXX XXXX. I contacted PHH to question them on how a debt that they cancelled was now being transferred ; I have yet to get an answer to that question. I have been emailing and phoning them for months. They also emailed me a Release of Mortgage that was generated a few days ( XX/XX/XXXX ) after the 1099C was issued but was missing information. ( Attached ) We sold our home in XXXX of this year and were made aware of the court record showing this debt. Our credit reports never showed this as an open mortgage. The debt was paid in full in XXXX with our equity in our home of 25 years. I want to know if this was legal, how can a lender cancel a debt and 7 YEARS later transfer that debt to another lender after they took credit for the cancellation? Generate a Satisfaction of Mortgage, send it to me and then years later say it was a mistake.
Frequently Asked Questions
What is Complaint #5567634 about?
Complaint #5567634 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-05-16T12:00:00-05:00.
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.