Mortgage -- Trouble during payment process -- Complaint #6894691
Complaint Overview
Complaint ID: 6894691
Company: Ocwen Financial Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Colorado
ZIP Code: 80226
Date Received: 2023-04-26T12:00:00-05:00
Date Sent to Company: 2023-04-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I contacted PHH on XX/XX/XXXX at XXXX XXXX I spoke with XXXX ( agent number XXXX ). I questioned what an XXXX XXXX XXXX. BILL FEE for {$.00} under the escrow column was for. XXXX explained that they decided to contact either the insurance company XXXX XXXX tax assessor concerning a change in the amount in escrow. I have never seen this fee before. He stated that the policy changed on XX/XX/XXXX. I don't think it is right that I, while paying {$720.00} in interest in that month alone, should be charged a fee for a phone conversation or contact. This has never occurred in the past. I recognize it is common that the amounts change for taxes and insurance. The required escrow amount changes almost, if not every, year. An adjustment is made once a year, and a notice is sent to give me the option of paying the deficit or have my monthly payment increased to make up the difference. Although this fee is nominal it appears it is just another way for PHH to make money. It is wrong that PHH can charge {$.00} any time they want to randomly call either the XXXX assessor or my insurance company. If PHH has XXXX clients it is an easy way for them to make a quick and easy {$250000.00} every time they decided to do this. I was not given the option of contacting the XXXX assessor or insurance company, myself, to clarify whatever question or concern PHH may have had. I have never been charged to contact the XXXX assessor or my insurance agency. Further more, I was never given written notice that the fee schedule for this loan has changed. I have never been late on my mortgage payment and have over a XXXX XXXX XXXX.
Frequently Asked Questions
What is Complaint #6894691 about?
Complaint #6894691 was filed against Ocwen Financial Corporation regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-04-26T12:00:00-05:00.
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.