Ocwen Financial Reviews

Updated October 9, 2014
Updated October 9, 2014
178 Reviews
2.1
178 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
68 Ratings

Review Highlights

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

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


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

  • They said they wanted a bigger US presence, but still wanted to outsource as much work as they could (in 5 reviews)

More Highlights

47 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Poor Training Procedures

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

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

    Pros

    The base salary for my position was decent plus there was a lot of room for bonuses.

    Cigna is their benefits provider.

    My direct supervisors were nice, professional, and had a lot of experience with the company.

    Cons

    The training process seemed very unorganized and did not really prepare new hires for the actual job task.

    For my position, three weeks of classroom-style training was required where new hires are given modular tests based on the lectured material. However, tests had trick questions and were developed by foreign employees based out of their India branch making the questions read off as irregular sentences. Weird.

    The software utilized is not very user friendly and takes a lot of time to become familiarized with. Out of the three weeks of training, we spent a day and a half training on the software. Definitely not enough time. Everyone told me that I would learn everything being ON THE JOB and not so much in training.

    Advice to ManagementAdvice

    Restructure your training procedures.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  2.  

    Poor communication and insists on outsourcing, but has potential down the road

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

    I have been working at Ocwen Financial

    Pros

    Hours, pay and benefits are decent. In terms of Loan Servicing, they appear to be a major player consuming portfolios across the country. This could potentially lead to multiple opportunities.

    Cons

    Continuous outsourcing and layoffs. Top leadership lacks the ability to communicate a clear plan and direction with staff Management. Communication between departments is compromised due to key departments being located in areas where English is not the primary language. Can't recommend to a friend until more opportunities are kept onshore

    Advice to ManagementAdvice

    Develop a direction and stick to it. Releasing key personnel to save a few bucks and hire 3 offshore people doesn't necessarily equate to better service or performance

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

    Long hours, did I mention long hours and it was ok becaue I met some great people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Loan Resolution Consultant in West Palm Beach, FL
    Former Employee - Loan Resolution Consultant in West Palm Beach, FL

    I worked at Ocwen Financial

    Pros

    To make alot of money that is the only reason you will want to work there, because they are very demanding.

    Cons

    Long hours, long hours and there is a complete lack of communication from senior management other than meetings on occasion.

    Advice to ManagementAdvice

    That you need to consider imput from your employees a bit more or maybe have some kind of a suggestion box because we are the most valuable asset.

    Approves of CEO
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  5. 1 person found this helpful  

    Most of the time awful, but sometimes it wasn't that bad

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • 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

    Pros

    Co-workers (under director level mostly) were awesome
    Time off is relatively good although it includes sick time
    Income was fair but then I wouldnt know any differently

    Cons

    Working 12 hour days
    Being under-appreciated
    No understanding of family or personal life
    Ridiculously strict with HR policies

    Advice to ManagementAdvice

    Care about your staff a little. They are the ones in the trenches getting screamed at by borrowers and their managers.

    Doesn't Recommend
    No opinion of CEO
  6.  

    Great for entry level but growth or development in oneself is very limited.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Acquisition Specialist in Houston, TX
    Current Employee - Acquisition Specialist in Houston, TX

    I have been working at Ocwen Financial

    Pros

    Great place to get much experience from mortgage business to IT experience. Great entry level opportunity and ability to learn.

    Cons

    Even though there is area to learn personal growth company wide is very minimum. Very clique based management. Some managment can be very mircomanaging and defensive working with other managers.

    Advice to ManagementAdvice

    Limit micromanaging and give more power to employees. Work with management and reduce defensive positions in regards to working with other management teams.

    Approves of CEO
  7. 3 people found this helpful  

    Good place to get experience, bad place to make a career of it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • 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

    Pros

    If you show some competence you will be given greater responsibility and the opportunity to gain very valuable experience. For the area the pay is slightly above average.

    Cons

    The pay is above average but extra responsibility usually doesn’t mean extra pay. Ocwen has long had a well deserved reputation as a sweat shop. Sr. Management has zero regard for employees. The CEO hates his US employee and is doing everything possible to move everything off-shore. He along with 4 other Sr. Managers are moving to Luxemburg for tax savings as part of a new spin-off. When this is on your resume it looks good but this not a feel good place to work.

    Advice to ManagementAdvice

    Why would I waist my breath.

    Disapproves of CEO
  8.  

    Great working atmosphere

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Internal Control Analyst in Bangalore (India)
    Current Employee - Internal Control Analyst in Bangalore (India)

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

    Pros

    Good pay master. Atmosphere to work is plesant.

    Cons

    Job gets monotonous after a stage. Managers r stern and don't make mingle.

    Advice to ManagementAdvice

    Create a more competitive environment

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Awesome place to earn enough to be happy..

    Current Employee - Customer Care Coordinator in Bangalore (India)
    Current Employee - Customer Care Coordinator in Bangalore (India)

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

    Pros

    Money s good over here

    Cons

    Too much work for the above said

  10.  

    Good Experiecne

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bankruptcy Consultant in Pune (India)
    Current Employee - Bankruptcy Consultant in Pune (India)

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

    Pros

    Didn't find any Pros as of now

    Cons

    No management in the company

    Advice to ManagementAdvice

    Plan the work

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    OK OK company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Residential Analyst in Bangalore (India)
    Former Employee - Residential Analyst in Bangalore (India)

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

    Pros

    Work timing is good for a BPO

    Cons

    Work Pressure
    monotonous work
    No transportation

    Advice to ManagementAdvice

    Try shuffling employees between roles and hire more people to reduce stress

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

Ocwen Financial Photos

Ocwen Financial Solutions
Ocwen Financial Office at Vrindavan Tech Village
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Vridavan Tech Village at Evening

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