Author Topic: Ocwen re-aging and reporting mortgage accounts under a different name.  (Read 174 times)

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ghost

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So, I found several interesting things about Ocwen, they are reporting GMAC accounts and verifying them under the name of GMAC, despite actually being reported by Ocwen.

They did the same thing with Litton and started re-aging accounts for another 7 years as well. Very interesting stuff, but I know some pain is coming in their near future.
Lets do this

BellEbutton

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So, I found several interesting things about Ocwen, they are reporting GMAC accounts and verifying them under the name of GMAC, despite actually being reported by Ocwen.

They did the same thing with Litton and started re-aging accounts for another 7 years as well. Very interesting stuff, but I know some pain is coming in their near future.

How are they re-aging them?

ghost

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When they bought GMAC and Litton loan portfolios, I can say for certain, they seemed to report ALL of the loans again. So, I had a loan that was mutually agreed to be zero balance, paid in full for 5 years through the SOL and 7 year reporting period, and then boom, its back on my report again. The DFOD was more than 7years ago, but then they reported the DOFD on the new account as being in 2009 and 2010 and verified it multiple times.

 I know of another guy who had a loan with them that was active and he was paying, and then they reported a duplicate one again.
Lets do this

CleaningUp

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Ocwen is a LOAN SERVICER, not a loan buyer.

Don't base your possible actions on false information.  They do enough wrong without you're trying to pin them for something that they aren't.


ghost

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Yeah, but...

http://www.housingwire.com/articles/13045-ocwen-financial-buys-litton-263-million


http://www.reuters.com/article/2013/03/12/us-ally-ocwen-idUSBRE92B0JI20130312

Just going on my discussions with GMAC execs that said they sold their loans to Ocwen and Litton that said the same thing. They may not be the true owner per se, as the investor of the loan, but either way, they can't report as if they are GMAC when they are really Ocwen.
Lets do this