I have paid taxes and insurance out of escrow on my primary residence since purchasing in 2002.
I chose not to do so on my rental building-- have had a payment plan (4x/yr) with State Farm to pay directly since purchase in 2005.
My residence is insured with Am Fam, the rental with State Farm.
A few months ago my mortgages were sold to Ocwen.
About a week ago I received a check for $400-something from State Farm- "the attached refund is a result of closing your payment plan account." I put it aside to call and ask about...
Then today an escrow analysis for my residence with $2435 paid to hazard insurance in January and neg. $600-something in the account. I called my Am Fam guy to ask why the premium was so high, and he responded that my renewal amount is $1077 but not due until April.... which is when I figured out that they paid the wrong building's insurance.
Just off the phone with Ocwen with no clear idea of what happens next because "the insurance department is closed."
I think I'll be able to work it out but am working through the worst case scenario re: how many hours I'll need to spend navigating voice jails and on hold to clean up their mistake.



Edited 2 time(s). Last edit at 03/01/2014 04:22PM by Black.

Ocwen is the worst. I had to hire an attorney to deal with a screw up. Granted it was my screw up, an account change meant the mortgage on an investment property went 61 days behind, but they kept sending noticed to the vacant apartment, not the owner, which was me at another address.

Once they found me by phone, they could not tell me the amount to bring it current. I wanted to pay it either over the phone, or Western Union, whatever, immediately but they told me that until they get a bill from the legal department, he could not give me a bill or accept any money. 10 days later they were asking for $4600, which was $2500 in legal and late fees, $2100 in mortgage payments. In the end they agreed to waive all legal fees and late fees since they did not properly contact me when the account was first late. But it did cost me $650 in attorney fees

Now you two have me scared. I just received notice that our mortgage with BofA has just been transferred to Ocwen effective next month. I had never heard of them prior to this thread. Hoping for a smooth transition.

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Bo
Now you two have me scared. I just received notice that our mortgage with BofA has just been transferred to Ocwen effective next month. I had never heard of them prior to this thread. Hoping for a smooth transition.

I am sorry, Bo, but I think you will have some problem or another.
Fingers crossed that it's one you can solve without too much investment on your part.

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Black

Quote
Bo
Now you two have me scared. I just received notice that our mortgage with BofA has just been transferred to Ocwen effective next month. I had never heard of them prior to this thread. Hoping for a smooth transition.

I am sorry, Bo, but I think you will have some problem or another.
Fingers crossed that it's one you can solve without too much investment on your part.

Yikes! Guess I'll go into defensive mode and document absolutely everything on the assumption there will be a SNAFU.

Well, good luck. Probably not productive for you to Google "Ocwen problem" just yet.

I had a mortgage sold to Ocwen. Had it on auto-pay for a few years, no issues whatsoever. Sold house, payoff was smooth. Got an escrow refund check in the mail a few weeks later. Bo, there's a reasonable chance you have no issues at all, imho. But yeah, keep the I's dotted.