CFPB Debt Collection Complaint Ranking*:
#37of 2,458 Companies
Lawsuits, Penalties, or Sanctions:
Ocwen ordred to pay $2 billion to homeowners for “systematic misconduct” in servicing of mortgages.
Location and Contact Details:
1661 Worthington Road
Suite 100
West Palm Beach, FL 33409
Phone: (561) 682-8000
Fax: (561) 682-8154
Ronald M. Faris, President/CEO
Timothy M. Hayes, Ethics Contact
Business Model:
Ocwen Loan Servicing, LLC offers residential mortgage loans and other services. Its loan servicing includes collections, investor accounting, foreclosure, and property disposition. The company services mortgage backed securitized and unsecuritized loans and securities. The company was founded in 1989 and is a subsidiary of Ocwen Financial Corp.
Ocwen is a successor to GMAC Mortgage.
Ronald M. Faris, has been the President of Ocwen Financial Corp. since March 2001 and serves as the President and Chief Executive Officer of Ocwen Loan Servicing, LLC.
Ocwen target of second SEC probe into mortgage servicing practices.
CEO Faris shrinking Ocwen due to regulatory scrutiny – Walter Investments buys $9 million.
* Ranking determined by the overall number of debt collection complaints to the Consumer Financial Protection Bureau (CFPB) as of year-end 2015 and should be considered in context of company size and/or market share. See theCFPB debt collection complaint database in real-time here.
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