Call To Action - January 23rd, 2015 - All Day
January 22, 2015
PLEASE CALL OR EMAIL
CFPB Washington Office
OUR DEMANDS TO THE CONSUMER FINANCIAL PROTECTION BUREAU/DOJ PROSECUTE OCWEN'S MORTGAGE/FORECLOSURE FRAUD AND DEMAND FOR REAL PROTECTIONS FOR HOMEOWNERS
OCWEN - "TOO BIG AND TOO CORRUPTED TO SERVICE OUR LOANS"
Six years after the worse economic meltdown in US History, we still have yet to see significant prosecution of the authors of this cataclysmic fraud. Homeowners have had enough! It is time to stop forcing homeowners to carry the burden of this fraud and to go after the ones responsible.
OCWEN, one of the largest mortgage servicers in the US has been caught red-handed and yet we have seen how in New York they arrived at yet another settlement.
Currently they are under investigation in California for violations of the Homeowners Bill of Rights. Thousands have lost their homes through OCWEN'S fraudulent practices.
Lost documents, incomplete and misguided information, mysterious fees, back-dating key letters and documents(modifying the dates of letters and records sent to homeowners facing foreclosure), dual tracking have been happening since 2010. Benjamin Lawsky from the New York Department of Financial services said, "Ocwen's indifference to such a serious matter demonstrates a troubling corporate culture that disregards the needs of struggling homeowners."
Ignoring federal and state foreclosure and loan modification laws should not be allowed to continue. OCWEN track record is clear, they simply ignore the rules and are causing great harm to homeowners with questionable and illegal foreclosures.
Homeowners from around the United States are complaining about the lack of oversight and cooperation they have received from the Attorney General's office and other government agencies with OCWEN'S ongoing abuses and practices. Our families need real reform, not empty promises. We are tired with settlements that do little to nothing for struggling homeowners. IT'S TIME TO HOLD OCWEN ACCOUNTABLE!
Huffpost recent article summarize Ocwen's suspected flaunting of the law that could be traced to its aggressive growth strategy. "Until the past few years, the largest mortgage servicers were divisions of major banks, such as Bank of America, JP Morgan Chase and Wells Fargo. After being sanctioned for their own misconduct, these banks were forced to adhere to new servicing standards that increased their costs, as well as new, higher capital requirements associated with servicing that came from the Dodd-Frank financial reform law. As a result, banks commenced a fire sale, selling off trillions of dollars in servicing rights to non-bank firms like Ocwen. These non-bank servicers don't own the loans, only the rights to service them, in exchange for a percentage of the monthly payment".
Ocwen's overnight growth brought serious problems and abuses. Even after Ocwen CEO sent a letter to homeowners apologizing for the "inadvertently misdated" letters, and the hiring of a independent investigator to look at the issues, they simply can no longer be trusted and have become "Too big to properly service loans."
Over the years, homeowners have learned that "there is no true safeguard or deterrent against the forged, fictitious and or fraudulent documents and actions by Ocwen and the prevention of the same.' Homeowner after homeowner has gone to court crying "foul" as these fraudulent documents are used to rob them of their homes and still no prosecution against the perpetrators, such as OCWEN.
We at Occupy Fights Foreclosures represent the multitude of homeowners who have had enough of this ongoing fraud. We are asking and demanding the Consumer Financial Bureau and the Department of Justice to hold OCWEN accountable for the massive fraud they continue to commit against countless of families. Now is the opportunity for CFPB and the DOJ to put their words into action.
JOIN US IN DEMANDING THAT OCWEN BE PROSECUTED FOR THE FRAUD.
"The most elementary conceptions of justice and public require that the wrongdoer shall bear the risk of the uncertainty which his own wrong has created"
Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager
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