Mortgage Servicing Failures

Started by indago

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Posted by indago
  10,778 21 Apr 2017, 8:27 am

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From The Associated Press 20 April 2017:
---------------------------------------------------------------
State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. ...The Consumer Financial Protection Bureau said Thursday that the accounts Ocwen serviced were riddled with errors throughout the repayment process. It said the company would go after borrowers long before verifying whether the debt was valid, allegedly foreclosed illegally on at least 1,000 homeowners, and charged borrowers for add-on products without their consent.

...Regulators said when consumers complained to Ocwen, the company routinely failed to acknowledge or investigate the grievances.
---------------------------------------------------------------

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Posted by Cannonpointer
  16,475 21 Apr 2017, 1:55 pm

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indago » 21 Apr 2017 8:27 am wrote:
From The Associated Press 20 April 2017:
---------------------------------------------------------------
State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. ...The Consumer Financial Protection Bureau said Thursday that the accounts Ocwen serviced were riddled with errors throughout the repayment process. It said the company would go after borrowers long before verifying whether the debt was valid, allegedly foreclosed illegally on at least 1,000 homeowners, and charged borrowers for add-on products without their consent.

...Regulators said when consumers complained to Ocwen, the company routinely failed to acknowledge or investigate the grievances.
---------------------------------------------------------------

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No need for regulation - the threat of a bad reputation will police the free market. :)
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Posted by Cedarswamp
  6,977 21 Apr 2017, 3:43 pm

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Cannonpointer » 21 Apr 2017 1:55 pm wrote:
No need for regulation - the threat of a bad reputation will police the free market. :)


I would agree if the company I signed papers with had to keep the loan, rather than selling it to another mortgage company.
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Posted by nuckin futz
  20,301 21 Apr 2017, 4:05 pm

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I did mortgages for 8 years, then I did loan modifications to help folks save their homes.Was with a law firm that did loan mods, and doing well, then AG Jerry Brown shut all the loan mod lawyers down!

OCWEN was the worst offender I ever saw!

The worst lender ever was AMERIQUEST(GW Bushes good buddy) They had 3 year pre pays on ARMS that shot over 11% when they adjusted! That's criminal!
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Posted by Cannonpointer
  16,475 21 Apr 2017, 5:25 pm

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Cedarswamp » 21 Apr 2017 3:43 pm wrote:
I would agree if the company I signed papers with had to keep the loan, rather than selling it to another mortgage company.
So... of it were policed better... it would not need to be policed... :faint:
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Posted by Str8tEdge
  34,927 21 Apr 2017, 5:35 pm

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Cannonpointer » 21 Apr 2017 1:55 pm wrote:
indago » 21 Apr 2017 8:27 am wrote:
From The Associated Press 20 April 2017:
---------------------------------------------------------------
State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts. ...The Consumer Financial Protection Bureau said Thursday that the accounts Ocwen serviced were riddled with errors throughout the repayment process. It said the company would go after borrowers long before verifying whether the debt was valid, allegedly foreclosed illegally on at least 1,000 homeowners, and charged borrowers for add-on products without their consent.

...Regulators said when consumers complained to Ocwen, the company routinely failed to acknowledge or investigate the grievances.
---------------------------------------------------------------

article
No need for regulation - the threat of a bad reputation will police the free market. :)


Why is this even a "regulation" issue???? Did you get the "ILLEGAL" part of the quote???? Do you know what charging someone for something without their consent is called???
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Rebel » 01 May 2015 10:03 am wrote:
Hey, liar, have you heard the news? Multiple charges against six racist white pigs in the death of a 25-year old black man they illegally arrested and subsequently assaulted while in their custody. To sum up the Attorney General's decision - BAZINGA!!
May those racist white pigs receive their due justice in prison.

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Posted by Cedarswamp
  6,977 21 Apr 2017, 6:06 pm

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Str8tEdge » 21 Apr 2017 5:35 pm wrote:

Why is this even a "regulation" issue???? Did you get the "ILLEGAL" part of the quote???? Do you know what charging someone for something without their consent is called???


Income tax?
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Posted by Str8tEdge
  34,927 21 Apr 2017, 9:27 pm

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Cedarswamp » 21 Apr 2017 6:06 pm wrote:
Str8tEdge » 21 Apr 2017 5:35 pm wrote:

Why is this even a "regulation" issue???? Did you get the "ILLEGAL" part of the quote???? Do you know what charging someone for something without their consent is called???


Income tax?


+1
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Rebel » 01 May 2015 10:03 am wrote:
Hey, liar, have you heard the news? Multiple charges against six racist white pigs in the death of a 25-year old black man they illegally arrested and subsequently assaulted while in their custody. To sum up the Attorney General's decision - BAZINGA!!
May those racist white pigs receive their due justice in prison.

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Posted by Obummerstinks
  11,010 21 Apr 2017, 9:42 pm

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Cannonpointer » 21 Apr 2017 1:55 pm wrote:
No need for regulation - the threat of a bad reputation will police the free market. :)


I've yet to see anyone advocate for no regulations...
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Posted by Cannonpointer
  16,475 22 Apr 2017, 11:01 pm

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Str8tEdge » 21 Apr 2017 5:35 pm wrote:
Why is this even a "regulation" issue???? Did you get the "ILLEGAL" part of the quote???? Do you know what charging someone for something without their consent is called???
Cannonpointer » 21 Apr 2017 1:55 pm wrote:
No need for regulation - the threat of a bad reputation will police the free market. :)
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Only the weakest ideas must be protected from debate, and only religions declare people heretics.

Humanity's law of the jungle: survival of the tribe
Money is a theory until spent - then a value statement


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Where there's much sizzle, expect little steak
Honesty is intentional - lies are the lazy way out


Nostalgia is a crime against what happened
You cannot betray me - only yourself, to me


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Posted by Cannonpointer
  16,475 22 Apr 2017, 11:03 pm

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Obummerstinks » 21 Apr 2017 9:42 pm wrote:
I've yet to see anyone advocate for no regulations...
It's too rare for anyone on the right to speak in full sentences for me to argue the point. When gutting regulations is your default position, own it.
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Only the weakest ideas must be protected from debate, and only religions declare people heretics.

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Where there's much sizzle, expect little steak
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Nostalgia is a crime against what happened
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Posted by Str8tEdge
  34,927 22 Apr 2017, 11:40 pm

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Cannonpointer » 22 Apr 2017 11:01 pm wrote:
Str8tEdge » 21 Apr 2017 5:35 pm wrote:
Why is this even a "regulation" issue???? Did you get the "ILLEGAL" part of the quote???? Do you know what charging someone for something without their consent is called???
Cannonpointer » 21 Apr 2017 1:55 pm wrote:
No need for regulation - the threat of a bad reputation will police the free market. :)


Would you use this mortgage company after this article? :rofl: :rofl: :rofl:
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Rebel » 01 May 2015 10:03 am wrote:
Hey, liar, have you heard the news? Multiple charges against six racist white pigs in the death of a 25-year old black man they illegally arrested and subsequently assaulted while in their custody. To sum up the Attorney General's decision - BAZINGA!!
May those racist white pigs receive their due justice in prison.

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Posted by Obummerstinks
  11,010 22 Apr 2017, 11:45 pm

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Cannonpointer » 22 Apr 2017 11:03 pm wrote:
It's too rare for anyone on the right to speak in full sentences for me to argue the point. When gutting regulations is your default position, own it.


Who say's to "gut" regulations? C'mon man, you throwing meme spitwads, and nothin's stickin'.....
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You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.

What one person receives without working for, another person must work for without receiving.

The government cannot give to anybody anything that the government does not first take from somebody else.

You cannot multiply wealth by dividing it


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Posted by Cannonpointer
  16,475 23 Apr 2017, 12:03 am

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Obummerstinks » 22 Apr 2017 11:45 pm wrote:
Who say's to "gut" regulations? C'mon man, you throwing meme spitwads, and nothin's stickin'.....
One of tRump's campaign promises was for every one new regulation, two had to be gutted.

One of the first regs he did away with was one which required those investing for retirement accounts to put the pecuniary interests of their clients before their own.

Conjobs on this board defended that.

That "spit wad" got enough fiber for you?
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Only the weakest ideas must be protected from debate, and only religions declare people heretics.

Humanity's law of the jungle: survival of the tribe
Money is a theory until spent - then a value statement


When your map disputes the territory, it's your map that is wrong.
Where there's much sizzle, expect little steak
Honesty is intentional - lies are the lazy way out


Nostalgia is a crime against what happened
You cannot betray me - only yourself, to me


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Posted by Cannonpointer
  16,475 23 Apr 2017, 12:04 am

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Str8tEdge » 22 Apr 2017 11:40 pm wrote:
Would you use this mortgage company after this article? :rofl: :rofl: :rofl:
Of course - they would just roll out a new DBA, and I would be none the wiser.
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Only the weakest ideas must be protected from debate, and only religions declare people heretics.

Humanity's law of the jungle: survival of the tribe
Money is a theory until spent - then a value statement


When your map disputes the territory, it's your map that is wrong.
Where there's much sizzle, expect little steak
Honesty is intentional - lies are the lazy way out


Nostalgia is a crime against what happened
You cannot betray me - only yourself, to me


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Posted by indago
  10,778 23 Apr 2017, 5:35 am

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Ocwen Financial

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Posted by Str8tEdge
  34,927 24 Apr 2017, 10:08 am

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Cannonpointer » 23 Apr 2017 12:04 am wrote:
Str8tEdge » 22 Apr 2017 11:40 pm wrote:
Would you use this mortgage company after this article? :rofl: :rofl: :rofl:
Of course - they would just roll out a new DBA, and I would be none the wiser.


Uh huh. :roll: :roll: :roll: :roll: :roll:
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Rebel » 01 May 2015 10:03 am wrote:
Hey, liar, have you heard the news? Multiple charges against six racist white pigs in the death of a 25-year old black man they illegally arrested and subsequently assaulted while in their custody. To sum up the Attorney General's decision - BAZINGA!!
May those racist white pigs receive their due justice in prison.

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Posted by nuckin futz
  20,301 24 Apr 2017, 9:50 pm

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Cannonpointer » 23 Apr 2017 12:03 am wrote:
One of tRump's campaign promises was for every one new regulation, two had to be gutted.

One of the first regs he did away with was one which required those investing for retirement accounts to put the pecuniary interests of their clients before their own.

Conjobs on this board defended that.

That "spit wad" got enough fiber for you?


Correction: its fiduciary interests!

Pecuniary is where coloreds go to prison, Reverend Al! :LOL: :LOL: :LOL:
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Posted by Inglorious Bastards
  842 24 Apr 2017, 10:17 pm

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been originating mort loans since reagan was prez......my shit this morning swirling knows more than this board

ocwen is not a mort company......they are a servicing company......they service severely troubled loans that are in default....they are SHIT LOANS...toxic maximus

they buy these mortgage loans at 10 cents on the dollar...collect pmnts...foreclose...short sale

these loans are the crap of crap............people complain that ocwen is a bully when the loan was shit to begin with..........ocwen actually let people stay in their houses longer to see if they could work it out

the add on product was forced place fire insurance which is legal.....you don't pay your homeowners ins...you are forced to

this article didn't mention any of this shit right????????????????....poor article and source...but look at the op...a joke of jokes
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Posted by Str8tEdge
  34,927 24 Apr 2017, 11:12 pm

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indago » 23 Apr 2017 5:35 am wrote:
Ocwen Financial

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Natural cause and effect. A beautiful thing. :LOL:
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Rebel » 01 May 2015 10:03 am wrote:
Hey, liar, have you heard the news? Multiple charges against six racist white pigs in the death of a 25-year old black man they illegally arrested and subsequently assaulted while in their custody. To sum up the Attorney General's decision - BAZINGA!!
May those racist white pigs receive their due justice in prison.


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