All Forum Posts by: Bienes Raices

I mailed my payment (for March) in a week ago and they processed the check electronically yesterday. Everything went smoothly. The check image didn't appear on my online bank account so I requested BOfA to mail me a hard copy.

George, if you wouldn't mind posting the outcome here after they debit your account that would be great. I am currently paying by check but the autopay would be nice, provided they don't screw it up.

Do you have written criteria? What is your minimum rental history allowed?

If you can't get enough information--no landlord references, etc., just reject. You could also take a larger security deposit (if your state allows this) or prepaid rent (if tenant has the money), but you're still taking a risk dealing with people you know nothing about. They might have money but still trash the place or live in an unsanitary manner.

FYI there's no credit scoring in many of these developing countries, and anyway the notion of "individual" credit often doesn't exist in these places, at least for the masses-families hold joint bank accounts, one person in a large city remits money to relatives in rural area. That's why it's hard for people in these countries to get loans--not enough reliable information.

The login for former GMAC customers is now working on the Ocwen site...my information was all correct. So far so good.

Maybe those of us who were sold to Ocwen can keep posting on this thread (IF there are problems--hopefully there won't be) over the coming months to figure out how to resolve issues with them.

Thanks Paul!

Dawn,
I'm not in position to refi right now either. I think it's ridiculous that e US allows Ocwen to operate the way it apparently does, especially since we have no choice about our loans being sold.
At least as RE investors we are somewhat savvy about this situation, and forewarned. Think of the average Joe Blows who will be walking into this buzzsaw over the coming months without a clue.

Thanks Paul. I've read online that sometimes Ocwen refuses to divulge who the investor is. Is there another way to find this out without going through the India call center?

I would make a photocopy of the Ocwen payment coupon that GMAC sends you (I received mine the other day) so that if Ocwen fails to send the coupons you have the account # and mailing address to send checks without the coupon.

I've also read to mail payments with return receipt requested, although I don't know if this would work since I think they're sent to a PO box. Keep the cancelled checks or print from online.

Someone on another site said to contact the Ocwen consumer "ombudsman" if Ocwen makes a "mistake", or to file a complaint here: http://www.consumerfinance.gov/

Apparently the Indian call center is difficult to reach and does not keep notes on your case, so that you have to start all over again each time you call about your issue.

Well I guess those of us who've been transferred are in for a lot of fun!

NY has appointed an overseer to Ocwen:

http://www.reuters.com/article/2012/12/05/ocwen-monitor-idUSL1E8N58D520121205

Apparently it's not just the short sales and loan mods--according to online reviews they also mess up the insurance and tax escrow (luckily I don't escrow).

Is Ocwen the same as Altisource? If so I've already dealt with them on an REO and I've experienced how incompetent they are.