Ocwen Financial

  www.ocwen.com
  www.ocwen.com

Ocwen Financial Reviews

Updated December 18, 2014
Updated December 18, 2014
197 Reviews
2.3
197 Reviews
Rating Trends

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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
80 Ratings

Review Highlights

Pros
  • good salary and good responsibility (in 8 reviews)

  • good pay , nice facilities very, good friends (in 6 reviews)


Cons
  • Management, strict, stringent, no work life balance (in 7 reviews)

  • Senior management never speaks up for their teams (in 9 reviews)

More Highlights

52 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    So many illegal and unethical practices going on

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Ocwen Financial full-time (more than 8 years)

    Pros

    It's a paycheck, the former GMAC employees are knowledgeable and the only true assets to the company

    Cons

    Illegal and unethical practices, extremely limited servicing system (owned by Ocwen), horrible attendance policy

    Advice to ManagementAdvice

    Update your servicing system!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    A big company that sometimes thinks they are small.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director in Atlanta, GA
    Former Employee - Director in Atlanta, GA

    I worked at Ocwen Financial full-time (more than an year)

    Pros

    The company has grown very quickly. There are a lot of openings and opportunities to move within the organization. Their vacation accrual is above average.

    Cons

    The company grew very fast by acquisition. The processes/policies they have are very much small company minded. Example: where in most companies, you might need your manager or department head's approval, the Ocwen Policy would often state you need VP or higher approval. Another example is salaried people having to punch in on a time lock.

    Advice to ManagementAdvice

    Review the policies and processes that govern daily operations and adopt industry standards where applicable so the employees feel like they are working in a modern-day large company.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Just ok

    • Culture & Values
    Current Employee - Anonymous
    Current Employee - Anonymous

    I have been working at Ocwen Financial

    Pros

    Ok base wage offered to us

    Cons

    Deceptive about practices and bonus

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Ocwen is strongly focused on shareholders and financials however not so much in the realm of their employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Coppell, TX
    Former Employee - Anonymous Employee in Coppell, TX

    I worked at Ocwen Financial full-time (more than 5 years)

    Pros

    Very strong player in the Mortgage industry and financially stable

    Cons

    Ideas and innovation are not welcomed and opportunities for improving key ares are frowned upon by senior management.

    Advice to ManagementAdvice

    I'd strongly suggest investing in the improvement of the morale of your employees. Although work is getting done, so much more can be achieved by addressing their concerns especially within the realm of technology

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6.  

    Management by Intimidation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager in West Palm Beach, FL
    Former Employee - Manager in West Palm Beach, FL

    I worked at Ocwen Financial full-time (more than 3 years)

    Pros

    None I can think of

    Cons

    Where to start - so much is wrong with this company. Management style is to keep employees on edge thinking they will be fired for minor infractions (one person was fired for not having a lid on their coffee). Non-hourly employees are expected to work 60-70 hours a week. The majority of the workforce (80%) is overseas and many key people do not work US hours so it's impossible to get work done quickly.

    Benefits are terrible and other than health insurance, are non-existent.

    Advice to ManagementAdvice

    Management is above taking advice from anyone, so nothing said here would make a difference.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  7.  

    Big Disappointment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Lewisville, TX
    Former Employee - Anonymous Employee in Lewisville, TX

    I worked at Ocwen Financial full-time (more than 10 years)

    Pros

    Great Employee's, Free Coffee in break room

    Cons

    No Training, Outsource all IT to India

    Advice to ManagementAdvice

    Replacing current employees with 3x's as many Inida employees might seem like a great money saving plan, but in the long run you will just have to bring the jobs back to the US. Many companies have tried this plan and the majority have had to bring computer support back to the US. Computer Support should never be outsourced.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Steer clear of this company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Care Coordinator in Coppell, TX
    Former Employee - Customer Care Coordinator in Coppell, TX

    I worked at Ocwen Financial full-time (less than an year)

    Pros

    They say they are growing

    Cons

    I worked here 2 weeks before I ran for the hills! Extremely negative environment. The position I was hired for was nothing like they described and I was highly over-qualified. I was supposed to get my final check on Monday and I am still waiting for them to issue it. Employees complained about being micro-managed and not getting paid for their bonuses and commissions. They are laying people off and hiring new people.

    Advice to ManagementAdvice

    Management needs to care more about employee satisfaction. This company seems like they work you to death and have no appreciation for your efforts.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    Not Happy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Officer in Dallas, TX
    Current Employee - Loan Officer in Dallas, TX

    I have been working at Ocwen Financial full-time (less than an year)

    Pros

    They pay you on time...

    Cons

    Most of the processor are horrible. Takes too long to close refinances.

    Advice to ManagementAdvice

    Make processor financially accountable for funding loans just like processors.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Don't waste your time If you think to make a career in this organization

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Care Coordinator in Houston, TX
    Current Employee - Customer Care Coordinator in Houston, TX

    I have been working at Ocwen Financial full-time (more than an year)

    Pros

    good pay , nice facilities very, good friends

    Cons

    not organized you need to find the information by yourself , a lot of system issues, customers disagree with the policy of the company

    Advice to ManagementAdvice

    Managers tried to do their best

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Only a pit stop. Not a place to grow.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in West Palm Beach, FL
    Current Employee - Anonymous Employee in West Palm Beach, FL

    I have been working at Ocwen Financial full-time (less than an year)

    Pros

    Challenging work content that gives deep insight into the mortgage servicing industry. Overtime available. Great people to work alongside.

    Cons

    Rampant micromanagement, constant mergers and acquisitions that create staffing issues and high turnover, little work-life balance (in certain departments)

    Advice to ManagementAdvice

    Value people. Please.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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