National Mortgage Settlement: Ocwen Consumer Relief Reports Q2, Q3, Q4 2015

Fraud Settlement

Ocwen Consumer Relief Q2, Q3, Q4 2015

June 23, 2016

Joseph A Smith, Jr. released Ocwen’s self-reported consumer relief through the second, third and fourth quarters 2015.

Ocwen reported its consumer relief activities from the second, third and fourth quarters 2015 under the National Mortgage Settlement (NMS) to Monitor Joseph A. Smith, Jr.

According to this self-reported, gross data, 38,104 received first lien modification forgiveness totaling approximately $3.3 billion, which is about $87,644 per borrower.

This data is self-reported, gross relief. These numbers were not tested against the Settlement’s crediting formulas.

In his latest report, the Monitor tested Ocwen’s consumer relief and credited Ocwen with its required consumer relief. The Monitor’s most recent report on Ocwen’s credited relief can be found here.

“Ocwen has fulfilled its $2.1 billion consumer relief obligation under the NMS,” said Smith. “I continue to monitor Ocwen’s compliance with the servicing standards, or rules, under the Settlement and will report to the Court and the public on my findings.”

Ocwen is required to send these reports to each state that is part of the Settlement with copies to the Monitor and the Monitoring Committee. The state-level data for the second, third and fourth quarters 2015 can be downloaded at the links below.



8 Responses to “National Mortgage Settlement: Ocwen Consumer Relief Reports Q2, Q3, Q4 2015”
  1. Julia Young says:

    Ocwen took over from what mega servicer that bellied up? Can’t think of name at the moment but their invoices were identical to their successor, Ocwen. My thinking was only a ‘name change.’ Impac was behind the scenes for this servicer, charging poor homeowners to ‘modify’ their loans, even encouraging them to purposely ‘miss’ a note promising low interest to modify their loans into an ARM. All this for a “fee of up to $3000.” This supposedly defunct servicer then handed the loan off to Ocwen who denied the new modification leaving homeowners out of luck!

  2. What a joke!! Who r u kidding I know of no one receiving that kind of money. I got a check 300? 20 percent down owned homes 5 and 12 years loss 443000 cash down equity doesn’t even factor in and he gets famous writting a book

    • Bruce R Nelson says:

      What a joke is right! All that CFPB $$ went unpoliced…I bet its all stashed on FatPigFaced Embreys billion $$$ yatch heading for “safe” harbors in Malta. Ocwen and HSBC “floated off with my $340k equity just as I was about to sign reverse mortgage papers (AAG) for rev mort! Now ripoff Ocwen Ombudsman claims they have “lost” ALL my docs and files sent to them over 2 years ago. Like pigs at the trough all the Ocwen Employees are busy covering their asses. I vote they convert Ocwens offices into a max sec prison and trap the bastards and bitches that assisted their “beloved fat pig William Embrey rip of welll everything…LOST my files just like these weasels “lost” all those NOTES and MORTGAGE docs!

  3. mike Drouin says:

    I can’t believe that everyone is caught up in the BIG LIE , and arguing about the aftermath of FRAUD it takes to cover it up !!!! The Alleged Mortgages between 2001 and 2006 are all a SHAM !! an illusion of ownership !! You all signed a promise to pay an entity that DID NOT FUND THE LOAN !!! And you were all brokered into a securities contract , without your knowledge and without your permission . Even if you go to court and you get to the point that you get to see the Bogus Securitization documents , they are a sham too !!! They have the American public so duped , they are getting away with the THEFT of your homes . These entities committed FRAUD IN THE INDUCEMENT , and FRAUD IN THE FACTUM and is subject to Rescission under the Truth In Lending Act ( TILA ) That is your protection !!

    • Bruce R Nelson says:

      Great comment but I have tried most of that on a PRIME Wells Fargo mortgage which Well sold to Option One which converted the PRIME loan into a subprime loan in 2006

  4. Tim Allen says:

    That’s such buckshit! The principle relief is just the bs interests they built up while they weren’t communicating w the customer.

  5. Bruce R Nelson says:

    Absolutely NOT! Ocwen has NOT “fulfilled” its debt obligations as they now claim! I filed my claim almost concurrent with the notification that CFPB nailed these crooks with the $2 Billion recovery penalty. I Fedex all required proofs of claim along with court docs clearly making me an officer of the court along with probate docs, everything now OVER 2 yeras ago. Ocwen declared I have no “authority” and abandoned me from access to any settlement data. I fought fruitlessly and CFPB also has a probably thick file on me. Over 2 yrs later I re-advised CFPB I have not heard a word from Ocwen. One week later I finally rec’d an Ocwen letter from Maria Esquival, “Ombudsman” advising “sorry for delay, you will hear from us by March 31st 2016 as to status”. BUT only a week later Esquival sent a 2nd lettter advising “Ocwen has LOST your files or MISSPLACED them, we will research to locate”. Its now the 4th of July week. I recieved some obtuxe e mail from a “Mr. Britton, Sr Acct Analyst Ombudsman” which made no sense. I replied to him saying ” Show me the original NOTE and original MORTGAGE and I will go away. I have heard nothing since. During this once again no communication ther new hit that FatAss Wiliam Embrey is trying to set sails (with my $340k) for Malta to evade prosecution for SEC securities fraud AND the publicly traded OCWEN FINANCIAL is also being prosecuted for securities fraud.

    All this fits like a silk glove on glass. Everyone of us VICTIMS knew OCWEN is a den full of snakes d thieves. The employees knew their employer was instructying them to lie, cheast steal, do anything to not allow Bruce R Nelson recieve justice for the damage Ocwen has done to him (and many many more victims.

    So contrary to the “reports” of “completion” my issues are NOT resolved, in fact now they claim they have “lost” my records, same as them “losing the NOTES and MORTGAGES required by fedral law to have possesion of if they claim STANDING.

    Don’t wory, I already know this diatribe falls on deaf ears and blind eyes. But it is the truth and should be included with FALSE CLAIMS the Ocwen “completed” what was required under CFPB jurisdiction

    Bruce R nelson
    Banner Elk, NC 28604

  6. Ocwen reported its consumer relief activities from the second, third and fourth quarters 2015 under the National Mortgage Settlement (NMS) to Monitor Joseph A. Smith, Jr

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