CFPB Case number: 160818-000007
WHAT HAPPENED
Describe what happened so we can understand the issue...
OCWEN has added a statement to my credit reports which lowered by credit score. Rita Jacobs of Transunion told me that the statement OCWEN placed on my credit report substantially lowered my score. Ms. Jacobs also informed me that the remark was OPTIONAL, that OCWEN did not have a legal obligation to put the damaging comment on my reports.
My credit score did not return to where it was before OCWEN removed my home loan from the credit bureaus because when OCWEN returned my home loan to the credit bureaus, OCWEN chose to add a statement in the "REMARKS" section of my credit report that lowered my score. All of the credit bureaus have informed me that "REMARKS" are optional, that OCWEN is not "required" to make a remark on my report. Previously OCWEN has put varying remarks on my credit report which also lowered my score and then raised my score when they removed the remarks.
OCWEN sent me an email today written by Matthew Parker and Collin Hoffman stating that this time they would leave the remark on my credit report. They are aware that leaving this remark on my report is not allowing the credit score to return to "VERY GOOD" and is keeping my score low.
OCWEN indicated that if they remove the remark from my report, it would not be fair to all the other OCWEN customers who have that remark on their credit reports. If other OCWEN customers are also being damaged financially by a remark that is "OPTIONAL", then perhaps a class action law suit against OCWEN is the only solution to this injustice.
OCWEN is doing harm to customers by choice, not because it is required by law. OCWEN profits financially by causing it's customers to have lower credit scores, making it next to impossible for OCWEN customers to refinance as escape the tyranny OCWEN subjects it's customers to, even customer's who's loan has been in good standing for six years.
OCWEN is legally allowed to leave the "REMARKS" section blank. OCWEN customers would have more accurate credit reports if OCWEN would stop putting damaging remarks on the credit reports of it's customers.
Since OCWEN has placed so many different kinds of damaging comments on my report and then removed them, I am requesting that they stop this hurtful process and just leave the remark section blank as they are legally allowed to.
OCWEN has hurt me financially since the day they received the $76,700.00 Keep Your Home California Funds and the $5000.00 HAMP incentive that I earned by never being late on a payment, never missing a payment for six years. OCWEN has been damaging me financially since February 2016. This "REMARK" on my credit report is just a continuation of this process of damaging me financially that OCWEN seems determined to keep up. Each time OCWEN makes a correction, they change something else, make a new change which also causes financial harm. This process has been horribly painful for me to endure. OCWEN seems to enjoy the process. OCWEN removed this REMARK previously. Matthew Parker of OCWEN had the statement removed months ago. Now he is maintaining that he cannot remove it even though all the credit bureaus confirmed that it was OPTIONAL. I believe the number of times that harmful things OCWEN has done to my family since February 2016 establishes a well documented pattern of abuse. It is clear that my loan in good standing has been under attack since February 2016. Each and every time that OCWEN has made a correction, within days they created a new crisis for me to endure. They are very aware that if they had not started this process, my son would have had his dental surgeries by now, that the financial game they are playing is causing him many added months of agony because they have crippled me financially without cause.
Consent to publish the description of what happened?Consent provided
Which part of the mortgage process is your issue related to?
Are you concerned about losing your home to foreclosure? Yes
No
This is about Conventional adjustable mortgage (ARM)
Do you believe the issue involves discrimination? Yes
No
On the basis of
DESIRED RESOLUTION
What do you think would be a fair resolution to your issue?
I think OCWEN should remove this most recent REMARK from my credit reports since it is "optional" and has prevented my score from returning to "VERY GOOD", which is where it was right before they removed my home loan from my credit reports. The remark was listed as one of the reasons my score dropped. The other reason was that OCWEN only reported two months instead of the entire year of 2016 payments.
Since OCWEN has indicated that they are using this REMARK section to lower other OCWEN customer's score, not just mine, I would like to see a class action lawsuit address this very distressing action OCWEN has chosen to make a policy. OCWEN stands to profit financially by taking actions, making arbitrary policy that allows it to lower the credit scores of it's customers, making it hard to OCWEN customers to refinance and escape the relentless stress OCWEN heaps upon it's customers, even customers with loans in good standing. OCWEN employees have even acted shamelessly giddy, laughing as if the bad news they were telling me was FUN to tell. I am referring to the time OCWEN informed me they had removed my name from my loan, that I would NEVER get back any of the six years of money I had invested in my home, that the $5000 HAMP incentive and the Keep Your Home California money was OCWENS and I would NEVER get my name back on the loan. The hell OCWEN has put me through has been ongoing, unrelenting. This REMARK that is optional is just the latest in a long line of unnecessary attacks on me and my autistic son James. The pattern of abuse by OCWEN is clearly established and it is ongoing. I would like OCWEN to refrain from putting REMARKS on me credit reports. They have no legal obligation to place a remark on me reports. If the CFPB needs me to testify in a class action, I will be happy to do so.
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