The guys over at Short Sale Power Hour have uncovered some pretty damning evidence about OCWEN, and their attitude towards short sales.
If you are working a short sale with OCWEN, you need to see this video. The scary thing is that this did not come from a negotiator. IT CAME FROM THE PRESIDENT/CEO OF THE BANK!
Like they say in the video, send this to your elected officials, clients, friends, family, neighbors. This case is disturbing, but not surprising in today's world of greedy, misinformed lenders...
Fred Weaver with special guest, Brian Gubernick, compare and contrast Mr. Faris' statement to the press and his actions behind the scenes. Revolting! Shame on you Mr. Ronald M. Faris!
Link to Article about OCWEN President Ronald M. Faris written by Kimberly Miller (Palm Beach Post Staff Writer) on 2/26/10 http://www.palmbeachpost.com/money/ocwen-financial-president-ron-faris-trying-to-make-292877.html
In the article above, Ron Faris states....
"People also think that we make money by foreclosing on a home. Foreclosure is not only bad for the homeowner, but it is also bad for the investor in the loan because foreclosure almost always results in a loss."
Now here comes the revolting part...
Email from OCWEN President Ron Faris to Brian Gubernick on 3/13/10...
From: Faris, Ronald [mailto:Ronald.Faris@ocwen.com]
Sent: Saturday, March 13, 2010 8:59 AM
To: Brian Gubernick
Cc: Coykendall, Joshua
Subject: RE: OCWEN LN#XXXXXXXXXX - SHORT SALE for Borrower: XXXXX
Mr. Gubernick,
Can you help me understand how a short sale will help the homeowner? My goal is to find a solution that keeps the borrower in their home. If that is not possible, then there is no meaningful difference between a short sale and a foreclosure sale. If you have a buyer for the property, we can always sell them the property post foreclosure sale. As it looks like you are a real estate agent I can understand that you are concerned about losing your sales commission.
I suggest you have the borrower contact Mr. Coykendal to see if there is any way for us to do a loan modification.
Regards,
Ronald M. Faris
Please, please forward this to everyone including your Senators and Representatives. OCWEN needs to be exposed for its hypocrisy!
Also, if you know anybody that works for OCWEN, on any level, please forward this link to them. Or, feel free to write Mr. Faris yourself.
Fabulous, and distrubing to know this is a true story. Kodo's to you for having the brass ones to call him out.
Thank you for reminding me of how sick Ocwen is. I'm inspired to blog my own experience witht their stupidity.
Amazing. Over the years I have had several clients with loans from Owen wanting to refinance. I have only heard negative things about Owen coming from those clients. I guess I should not be so amazed.
What strikes me is the hostility towards Real Estate agents and us earning some money. Banks hate real estate agents and would like to take over our industry competely.
What is your's and everyone else's experience with OCWEN as the 2nd?