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
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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

Employee Reviews

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  1.  

    Ocwen Vendor and Project Management

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

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

    Pros

    Ocwen is typically thorough with project assessment and initiation, allows for multiple opportunities with competitive salaries. The benefit packages are exceptional and allow of college level courses.

    Cons

    Leadership communication could improve in certain areas and work life balance is challenging. Tracking of hardware, software and vendor contracts is challenging, but yet relatively easy to set up.

    Advice to ManagementAdvice

    Improve your work life balance. Working people over 50 hours a week is unproductive.

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    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
  3.  

    Its been a good experience so far

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Home Retention Consultant in Coppell, TX
    Current Employee - Home Retention Consultant in Coppell, TX

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

    Pros

    As with this job or any other job it is what you make of it. I have had a pretty positive so far. We are given the tools and the autonomy we need to get the job done. Upper management is pretty supportive and cognizant of our efforts.

    Cons

    Some of the challenges are meeting monthly goals. Making sure you meet call quality goals is one of the biggest challenges.

    Advice to ManagementAdvice

    Keep up the good work

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Very disorganized

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

    I worked at Ocwen Financial

    Pros

    I can't find anything positive about the experience.

    Cons

    No structure. Poor communication from upper management.

    Advice to ManagementAdvice

    Take the time to review your processes and treat your employees better.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    An overview of Ocwen

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Residentilal Sales Specialist in Orlando, FL
    Former Employee - Residentilal Sales Specialist in Orlando, FL

    I worked at Ocwen Financial

    Pros

    The company has a local office in Orlando, as well as one in West Palm Beach. You get a paycheck.

    Cons

    This company has a presence in suburban Orlando, near the University of Central Florida as well as the main office in West Palm Beach. Being a multifaceted organization, they deal with underperforming residential and commercial real estate. My role at the time was the marketing, sale and disposition of single family residential although I have an extensive commercial background. Ocwen is a master servicer of real estate debt and disposes of properties through the direct sale to end purchasers through its agents. The agents working for Ocwen hire marketing agents, brokers, remediate properties through them, have them do PBRs, stabilize the properties, negotiate purchase and sale offers, work with their internal legal dept to close the sales. Its a high pressure environment. I negotiated and sold $2 million of properties in an 8 month period, values typically of under $150 K at 90% of appraised value. The properties were for cash and the deals were closed within 45 days. NO amount of work was ever enough for this organization! It was known that borrowers in default attempted to contact the company to attempt to negotiate a settlement. They thought they were talking to someone in the US when in fact Ocwen hired people overseas to manage the debt. It was virtually impossible to communicate with the people within this organization. It is also impossible to walk in the front door to meet with anyone. Every function of this company is done behind closed doors and there was no receptionist. You push a button to talk with someone and it usually is not the right person. To say that it is an oppressive environment would be an understatement. There is no such thing as long term employment within this company. I know of no one who lasted more than 13 months.

    Advice to ManagementAdvice

    Begin to treat your employees with respect and appreciate what they do for you
    Treat your employees more like people rather than animals.
    Bring the servicing agents of your debt back to the United States

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 1 person found this helpful  

    Laid off with no warning! Run!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Home Retention Consultant in Waterloo, IA
    Former Employee - Home Retention Consultant in Waterloo, IA

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

    Pros

    the fellow employees and the support they provide, the team environment

    Cons

    job ended with no warning called in on a fully booked day and laid off after my 1st appointment. Breaks taken away except for a half hour lunch. constant fear of losing the job for not working hard/fast/good enough with standard sand performance goals that are never made clear. This company is mismanaged in my opinion and sued to the ground.

    Advice to ManagementAdvice

    Honesty, stop laying off employees that worked with the company for years and replacing them with people that have been there less than a year. Stop using broken software and then penalizing the employees when the software is broken. Stop telling us we won't lose our jobs and then BAM told to collect our stuff.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    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
  9. 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
  10.  

    I enjoyed the position and the bonus structure. I did not agree that there are no pay increases.

    • 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 (more than 3 years)

    Pros

    The company is very solid and well organized. The compensation package is good until you realize that there are no raises. There is a clearly defined chain of command.

    Cons

    There is a lot of politics and it is easy to get lost. There are very few promotion opportunities in the WPB office. Management views is based on the team lead and there is a lot of variations of the interpretations.

    Advice to ManagementAdvice

    Salary should be considered based on experience and tenure. I don't think it is fair for a new employee to have the same pay structure as an employee that has been there 5 years.

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    Great Experience, Great pay as long as you keep quota.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Home Retention Consultant in Atlanta, GA
    Current Employee - Home Retention Consultant in Atlanta, GA

    I have been working at Ocwen Financial full-time

    Pros

    Great Pay, long breaks and long lunches. People are friendly.

    Cons

    No problems. I dont have any issues with this company.

    Advice to ManagementAdvice

    This was a good position. Steady hours, good benefits, my co-workers were a nice group of people

    Recommends
    Positive Outlook
    Approves of CEO

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