Grades are also broken down by the financial products offered be each institution. Ocwen is rated "C" in Mortgages, "C-" in Debt Collection, "C+" in Credit Reporting, and "C-" in Bank Account Services. Click on any of the financial products to see how Ocwen compares.
Ocwen has received 15,118 consumer complaints since December, 2011 – more than 99% of other banks.
Of those complaints, 97.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Ocwen meets the 60-day response deadline less frequently than 58.5% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 24% of customers dispute Ocwen's response to complaints — worse than 75.8% of other companies.
Most of Ocwen's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan modification,collection,foreclosure||3,930|
|2||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||3,217|
|3||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||2,320|
|4||Mortgage||Other mortgage||Loan servicing, payments, escrow account||1,844|
|5||Mortgage||Conventional adjustable mortgage (ARM)||Loan modification,collection,foreclosure||1,527|
|6||Mortgage||Conventional adjustable mortgage (ARM)||Loan servicing, payments, escrow account||1,109|
|8||Mortgage||FHA mortgage||Loan servicing, payments, escrow account||377|
|9||Mortgage||FHA mortgage||Loan modification,collection,foreclosure||373|
|10||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||220|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||14,827||14,387 (97%)||3,668 (24.7%)|
|2||Closed without relief||893||861 (96.4%)||241 (27%)|
|3||Closed||886||836 (94.4%)||222 (25.1%)|
|4||Closed with non-monetary relief||376||372 (98.9%)||51 (13.6%)|
|5||Closed with monetary relief||157||156 (99.4%)||29 (18.5%)|
|6||Closed with relief||135||131 (97%)||25 (18.5%)|
|7||In progress||87||85 (97.7%)||0 (0%)|
|8||Untimely response||3||0 (0%)||0 (0%)|