Mortgage -- Trouble during payment process -- Complaint #5898905
Complaint Overview
Complaint ID: 5898905
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 33401
Date Received: 2022-08-19T12:00:00-05:00
Date Sent to Company: 2022-08-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My mortgage is serviced by PHH Mortgage. The home in this case is a condominium which has an HOA. The HOA provides insurance for the building, including flood insurance which covers the inner dwellings of the units. The complex is located in a flood zone. PHH mortgage has ordered flood insurance and has added the premium to my monthly escrow, resulting in a 33 % increase in my payment. Considering that the HOA 's insurance policy already covers this, an additional insurance is not required. I have called PHH Mortgage countless times now and discussed this matter with the insurance department. Each time, I am told that the policy that they ordered is a duplicate and not needed ( I have provided PHH with the HOA 's policy!! ) and after an escrow analysis the additional flood insurance would be removed and my previous payment would be reinstated. Yet, they have not made an adjustment and are charging me an over-inflated rate. Not only is this poor customer management, this should not be legal and if PHH Mortgage is treating me like this it should not be a surprise if many other home owner are in the same situation.
Frequently Asked Questions
What is Complaint #5898905 about?
Complaint #5898905 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-08-19T12:00:00-05:00.
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.