PAULA RUSH
FIGHTING FOR JUSTICE  "ONE HOME AT A TIME"

OCWEN CEO BILL ERBEY EMAIL

From: Erbey, William [mailto:William.Erbey@ocwen.com]

 

CEO SAYS BORROWER NEEDS A

RESPONSIBILITY LECTURE

AND A REALITY CHECK.

 

This is the saga of one borrower's attempts at a loan mod - and emails between  an acquaintance of  the CEO of Ocwen Servicing Bill Erbey and people who knew the borrower and the borrower forwarded them to me.  I’ve blacked out names to protect privacy, except for Bill Erbey ofcourse.
 

FEEL FREE TO TELL HIM WHAT YOU THINK!

 

[mailto:William.Erbey@ocwen.com]

 

 In these email strings between the party trying to help and  Erbey he says, she needs a responsibility lecture and a reality check.

 

 I say he should look in the mirror. 

 

This is what Bill Erbey had to say:

 

Bill called me make sure I got his email. He gets upset when people act so irresponsibly. Ocwen prides themselves in having such a high success rate in keeping people in their homes. He offered to let you see her loan file if she would sign a release letter, so you can see for yourself how diligent Ocwen has been to help her. He thought you might be of help to her by giving her a reality check and a responsibility lecture.

 

AND THE BORROWER SAID THIS:

 

About this time I received DVD in mail from president of ocwen with picture of him as a baby saying, :The president of ocwen has been reaching out since he was a baby. We want to help but can't unless you call us."

 

CONSIDER THAT WHEN YOU READ ALL THE ATTEMPTS THE BORROWER MADE TO CALL THEM. WHO DO THEY THINK THEY ARE KIDDING?

 

 

BACKGROUND CONTEXT:

This borrower was given a predatory loan as defined by the OCC, FTC, FDIC, etc. A 2/28 with a payment that began at $1088 and ballooned to $1588, then $1731 and the final straw was when it went to $1950, adjusting every six months.

 

Her broker took a YSP for giving her this loan with “lender friendly” terms.

 

This borrower tried bankruptcy through an attorney who lied to her that he would assert her rights and set offs, Shawn Doan (a graduate of Max Gardners boot camp), and he even took a filing fee, and I helped to draft a complaint. He never filed it for her. I told her to call the trustee directly to see why was going on, and he informed her no such action was filed.

 

This borrowers tried everything, two lawyers who didn’t or couldn’t help, every government agency,  Senators, and no one helped or intervened.  A story I hear over and over again. Borrower are abused  horribly in this  process.

 

When I read that Bill Erbey said she needs a reality check and a responsibility lecture, I went over the edge. Why?

 

OCWEN HISTORY:

Ocwen has been in  a lot of trouble in the past with regulators. Ocwen, was busted by the OCC as their regulator as an Federal Savings Bank, so OCWEN just gave up the bank charter and became Ocwen LLC! 

.

WERE THEY PUNISHED? HELL NO!

OCWEN has received numerous government contracts, including FANNIE & FREDDIE and HUD loans.  What is going on with that?

 

EMAILS

 

From: Erbey, William [mailto:William.Erbey@ocwen.com]
Sent: Monday, October 15, 2007 4:44 AM
To:
XXXXXXXXXX
Subject: FW: Looking for buyer for my home and/or rentals

 

Gary,

I will have a senior person look into this loan. I must tell you that for any borrower not to know that they are in foreclosure is rather surprising. I believe that our process is to mail borrowers at least 6 letters, a DVD explaining the situation along with 100+ attempted telephone calls. At least two of these letters are certified, one of which comes from the foreclosure attorney. Additionally, all of these processes are automated and audited.

 

Having said all this, we will look into the loan. Our goal is to resolve all loans pre-foreclosure. We are very proud that we are able to resolve 90+ day delinquent loans 79% of the time avoiding foreclosure. I would encourage Ms. Hammarstrom to continue her dialogue with our Loan Resolution Consultant. These individuals are incentivized to resolve loans without foreclosure.

Bill

 

THE TRUTH

DO YOU REALLY BELIEVE THEY RESOLVE 79% OF THE TIME?

 

----- Original Message -----

From: XXXXXX

To: 'Wendy Hammarstrom'

Sent: Monday, October 15, 2007 5:18 PM

Subject: FW: FW: Looking for buyer for my home and/or rentals

Wendy, this from GXXXXXXXXar

 

From: GarySingle@aol.com [mailto:GarySingle@aol.com]
Sent: Monday, October 15, 2007 5:17 PM
To: ulvestadl@cox.net
Subject: Re: FW: Looking for buyer for my home and/or rentals

Larry,

Bill called me make sure I got his email. He gets upset when people act so irresponsibly. Ocwen prides themselves in having such a high success rate in keeping people in their homes. He offered to let you see her loan file if she would sign a release letter, so you can see for yourself how diligent Ocwen has been to help her. He thought you might be of help to her by giving her a reality check and a responsibility lecture.

See you for breakfast Wednesday.

Gary

 

THE TRUTH

OCWEN WAS NOT DILIGENT IN HELPING  AS HE DESCRIBES HERE, THEY ACTUALLY DID EVERYTHING THEY COULD TO NOT HELP AND THEN FORECLOSED. READ THE BORROWERS STORY AND YOU DECIDE.

 

 

THE BORROWERS STORY

 

----- Original Message -----

From: Wendy Hammarstrom

To: Larry Ulvestad

Sent: Tuesday, October 16, 2007 12:29 PM

Subject: Documentation

Larry,

Again, thank you for your help.

This was the more organized version of how impossible it was to speak to anyone about situation. I have kept current on my documentation. The farthest I have gotten is getting someone at Loan Resolution who tells me my modification plan has been denied. I ask who I can speak to and they say Collateral Dept. and give me a phone number to call on Monday. I call and get the Loan Resolution office and can't get through! I got several calls since this list from ocwen: an automated message that leaves no name or business. Sometimes no number, but I have caller ID so I see it is ocwen number I use. I got a sweet call from a lady saying we want to help you. I call back but get nowhere.

 

I tried to be a little more succinct with my list of ocwen interactions. Not all the dates are exact; I made these calls inbetween working at Dripping Springs, for High Country Journal in Anza, house calls in Riverside, Escondido and Menifee, and working at chiropractor's office in Temecula, writing an article for Massage Therapy Journal, trying to get my book published and being full-time on call single mom.

2007

August 30 Paid $1860 to ocwen as part of forebearance plan

Late Aug. I called ocwen and was on hold for an hour. I left message for them to call me back. Next day Christy called me back. When I called her back I was told there was no way to speak to her directly.

Late Aug. Serge Jerome said he had received no faxes from me. I had faxed income and expenses, tax info and bank statements in response to packet I received from them. I did this at chiropractor's office-Lynn Pierce, receptionist can attest to this. Serge said it doesn't matter anyway because there was nothing they could do. I asked to speak to his manager and he put me into Douglas Jennings' voice mail. (That is his manager?) I also emailed Mr. Jennings at DouglasJennings@ocwen.com and received no reply.

Sept 6 I completed an on-line intake form for CCCS, Consumer Credit Counseling Service (recommended by ocwen). I received a detailed on-line report back from Annie Williams, counselor.

Sept 17 Spoke to krish in Loan Resolution along with my CCCS counselor, Nicole White. Krish said we had to speak to loan resolution office. Nicole said, "aren't you loan resolution?" He said yes, but we had to speak to 2nd tier of loan resolution. He transferred us to Brenda Pough. She said we had wrong extension and forwarded us onto Ariel(spelling?) in REO (?) Department. Ariel said she knew nothing but she could transfer us back to customer service. Nicole said, "NO-we have been on hold for an hour. We need to speak to someone." Ariel said we could leave a message on presidential line and we did.

About this time I received DVD in mail from president of ocwen with picture of him as a baby saying, :The president of ocwen has been reaching out since he was a baby. We want to help but can't unless you call us."

mid-Sept. I emailed ocwen customer service for the 2nd time explaining my concern and frustration, and said, "You can't help me unless you call me back."

Sept. 24 Placed on hold for one hour waiting to speak to someone. When I was connected to someone I was told I would get a call back Sept. 25th at 10AM.

Sept. 25th I was by my phone 9:20AM to noon, waiting for call that never came.

Sept. 25th-afternoon Spoke to Sam Marshall. He said I owed 4 payments = $6,620. I told him I sent in my financial information so they could see why I was not able to pay that. He said there was nothing from me since July 1st. I told him I had just sent a packet of info. He said, "Oh, 'Jerome Serge' is handling that. He will call Sept. 26th. I asked if I could call him and was told he has no number to reach him at.

Sept. 26 Spoke to Anthony Chettiar and told him I received no call from 'Jerome Serge'. He apologized and said Jerome would call.

Sept. 26 Emailed customer service to complain and ask how I should proceed

Sept. 28 11:30AM Called Collateral Department. Never got through though waited 30 minutes. Tried again later and got a message saying I could not leave a message.

Sept. 28 Tried to do customer service survey over phone at number they give, 866-513-2954, but kept getting disconnected when I pushed "1" to indicate poor quality service.

Oct. 3rd Ocwen called me and I picked up. There was an automated voice telling me to call 877-596-8580. I called immediately. Hold time: 41 minutes. Called again next day and could not reach anyone.

Oct. 5th - Called a 2nd company, Greenpath Debt Solutions, to see if I could get any further with them. My counselor, Melissa, called ocwen with me and after 40 minutes said she couldn't be on hold any more due to other clients' needs. She suggested that I 1. Ask to be assigned to someone else, and/or 2. File a complaint with Better Business Bureau.

Oct. 9th Called Better Business Bureau in Colton and they gave me number of Alta Monte Springs BBB in FLA. I told the person I was speaking to that I realized I was at fault for not making payments and they said, "But you can't reach anyone. That is a reason to file a complaint."

Oct. 12 The day I was going to call FLA BBB Serge Jerome called me to say I owe $4804 by Oct. 15 (2 days away), and then $1773 each month therafter. He clarified that if I filed for BK, which I said I was going to have to do, I would essentially be paying $2500 a month plus the % would increase to 12.5. I said it would be impossible to get that in two days, but I would try. This call was about an hour as I was giving the budget information as best I could since they "never received a fax from me." I asked if they could lower mortgage to $1048, the original fee before variable kicked in. He said they would make more money acquiring home since I have $50,000 equity now.

October 15 Serge called again and said could I do $2000 by end of month. I said yes. Then $1634 each month therafter, which includes tax and ins. and fee would stay fixed. I said $1634 would be a challenge, but I am trying to bring in more money. (According to my CCCS counselor my income is 2500/mo and my expenses $3553.

October 16 I called ocwen collections to pay $2000 over phone. I was told by automated voice that ocwen was closed due to technical difficulties.

 

----- Original Message -----

From: Wendy Hammarstrom

To: Larry Ulvestad

Sent: Monday, October 15, 2007 12:34 PM

Subject: Re: Looking for buyer for my home and/or rentals

Larry, I have kept a record of all the phone calls, emails, times I have been transferred from one person to another with no one being able to talk to me, the time I was told (and a counselor for Consumer Credit Counseling called ocwen with me and heard this) "I don't know nothing", the time I called with GreenPath debt solutions and they gave up after 40 minutes on hold, times I was on hold for an hour and told, "You have a 20 minute wait, now you have a 30 minute wait"....shouldn't it be the opposite order; the time I tried to leave my feedback on their customer service line and everytime I pushed "1" to indicate poor service, their machine said, "I'm sorry, you can't leave a message on this line"; the time I faxed in all my financial records to ocwen and they said (and continue to say) they "never received them". I faxed them myself from my own office. The many times I was put through to a man from India who was shrilly yelling at me, and not really able to understand or communicate in English, the time I was on hold for an hour and tried to set up an appointment to have someone call me and then phone went dead; the time I was hold for 20 minutes, finally talked to someone and they said I needed to talk to Jerome Serge and scheduled an appointment for me to talk to him the next morning. I re-arranged my work schedule so I would be there and he did not call. When I called in they said he was not available but they "promised" he would call tomorrow. He did not. I left two, maybe three, emails to customer service explaining my position and asking for them to call me to discuss. No one did.

If I was called so many times, no one left a message on my answering machine that I am aware of. Two weeks ago the phone rang and I picked up and it was automated ocwen telling me to call their number. I did immediately and was put on hold for 30 minutes, after which I hung up. I am often not available by the phone because I am working many different places. I got a DVD with a photo of president as a baby saying, "Our president has been reaching out since he was an infant. We can't help you unless you call us." I emailed back and said "you can't help me unless you call me back". I received two letters stating I was in default and in a precarious situation which I understood. That is why I spent so much of my time trying to communicate with them. I don't consider myself lazy or irresponsible, but naive in these matters-definitely. I did not know that foreclosure followed so closely after default, and assumed I would be told if it did. A person at GreenPath Debt counseling said, "I don't think you should expect anything from a company that has such poor customer service. Their actions speak for themselves". and on it goes. I went to google and looked up info about ocwen and it sounded like many people are not happy with them.

So.......I do have dates for most of these conversations, and names of people I spoke with.

Hope this clarifies the situation from my perspective. I appreciate that they are willing to speak to me now and hopefully work things out.

Thanks again,

Wendy


RELEVANT SECURITIZATION TRUST PARTIES

Issuer. MASTR Asset Backed Securities Trust 2005-WMC1. The trust will be established under a pooling and servicing agreement among Mortgage Asset Securitization Transactions, Inc., as depositor,

 

Depositor.................. Mortgage Asset Securitization Transactions, Inc., a Delaware corporation. The depositor's address is 1285 Avenue of the Americas, New York, New York 10019, telephone number (212) 713-2000. See "The Depositor" in the accompanying prospectus.

 

Originator................. WMC Mortgage Corp., a California corporation.

 

Servicer................... Ocwen Federal Bank FSB, a federally chartered savings bank. The servicer's principal office is 1661 Worthington Road Centrepark West, Suite 100, West Palm Beach, Florida 33409, telephone number (561) 682-8887. See "The Servicer" in this prospectus supplement.

 

Seller..................... UBS Real Estate Securities Inc. The seller's address is 1285 Avenue of the Americas, New York, New York 10019, telephone number (212) 713-2000.

 

Trustee.................... U.S. Bank National Association, a national banking association. The address of the trustee's principal office is 60 Livingston Avenue, St. Paul, Minnesota 55107-2292. See "The Pooling and Servicing Agreement--The Trustee" in this prospectus supplement.

 

 

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