Ocwen Financial

www.ocwen.com

Ocwen Financial Reviews

Updated January 29, 2015
Updated January 29, 2015
206 Reviews
2.3
206 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
83 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

Sort: Popular Rating Date
  1. 1 person found this helpful  

    It was an experience

    • 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

    Loved The People. They were great!

    Cons

    Systems used need updating. Procedures are out of touch.

    Advice to ManagementAdvice

    ...grow a pair.

    Recommends
    Positive Outlook
  2.  

    loan originator

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

    I have been working at Ocwen Financial

    Pros

    small sales group and schedule

    Cons

    limited products, only HARP and CONV , no jumbo, no txa6, no fha or va.......processing can be a challenge based on skill level . not competitive on rate or closing costs

    Recommends
    Negative Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    The Coppell office is a nightmare

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

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

    Pros

    Some nice co-workers in the office

    Cons

    I have worked in two departments in the year I have been there and both are a big mess. No consistency or structure. Everyone passes the buck plus the Awful off-shoring. The CEO will brag about his cost saving tactics of off-shoring. Ugh. Plus the office is in the worst geographic location ever. No easy way to get there at all. Ugh

    Advice to ManagementAdvice

    Move the office, better pay, and stop off-shoring.

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

    Business practices with questionable integrity

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Ocwen Financial

    Pros

    Most employees seem very intelligent, capable, friendly; Company is saying it is complying with investigations over mortgage servicing practices.

    Cons

    Poor employee morale; discouraging national press regarding business practices.

    Advice to ManagementAdvice

    Not sure where things went wrong, but the company should not tolerate anything less than the highest level of integrity in their work from top management and employees.

    Doesn't Recommend
    Neutral Outlook
  6.  

    Absolutely Terrible Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Default Operations in Fort Washington, PA
    Former Employee - Default Operations in Fort Washington, PA

    I worked at Ocwen Financial

    Pros

    They had good air conditioning. Place was pretty.

    Cons

    Everything. VERY unethical company. Employees are so poorly trained they don't even realize just how unethical the company is. No one seems to understand the big picture; employees only know their little niche. An enormous waste of of my time.

    Advice to ManagementAdvice

    Turn yourselves in; beg for mercy from the Justice Dept.

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

    The worst company I have ever worked for.They acquired Homeward Residential and things changed.

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

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

    Pros

    It is a job. The only thing they got going for them is a large portfolio of loans to service. About 3 million.

    Cons

    They are not allowed to originate loans. Presently, they cannot service loans in New York due to an order from the state. California now has brought the same type of law suit and wants to Ocwen to sell off all California loans due to consumer fraud. They use misleading bait and switch tactics to entice present clients to refinance with them .Most of the servicing calls are directed overseas.

    Advice to ManagementAdvice

    Don't pressure employees to skirt the truth with their present clients. Treat employees with at least some respect. Don't call them offensive names behind their backs.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    This company is not a people company or even a customer company.

    • 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 full-time (more than a year)

    Pros

    Salaries have been maintained and have not declined. The benefits are okay and paid time off is competitive.

    Cons

    The company has a small business mentality and all decisions are slow and seem to come from the top. They do not communicate well and information to do your job is not forthcoming. They seem to have a policy of delay, delay, delay in hopes that the problem will go away. It does not seem that the company delegates very well.

    Some of thier dealings with employees and customers are borderline unethical.

    Over 90% of thier IT is managed by off-shore resources(India), this contributes to the communication problems.

    Advice to ManagementAdvice

    Communicate more effectively to your employees.
    Treat employees with respect and invest in their success.
    Empower employees to make decisions.
    Be ethical.

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

    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 a 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
  10. 2 people found this helpful  

    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
  11. 1 person found this helpful  

    Ocwen - A closeted disaster

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

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

    Pros

    The building is nice. It is a paycheck.

    Cons

    Demanding atmosphere, no real world perspective, outsourcing of defaulted mortgage and mortgage servicing to foreign locations as India. Uses the stick approach ( repremand, warnings ) rather than a carrot approach ( offering incentives for achieving goals, targeted objectives with tangible and financial rewards). I sold bank owned REO assets, negotiated purchase and sale agreements, hired brokers, covered 7 states, worked with legal / closing department to consumate sales. You do want to work for this organization if you have better alternative options ! Nobody that I worked with lasted more than 13 months.

    Advice to ManagementAdvice

    Hire competent and capable talent, train them, define realistic goals, reward employees, get first and second level management that has a clue what they are doing and how to direct subordinates

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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