Ocwen Financial

www.ocwen.com
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Ocwen Financial Reviews

Updated February 28, 2015
Updated February 28, 2015
216 Reviews
2.3
216 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
86 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.  

    Our part of the IT Mortgage Servicing company was purchased by Ocwen. Ocwen is probably good in servicing, mediocre in

    • 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 a year)

    Pros

    Ocwen is probably good in servicing, mediocre in

    Cons

    Our part of the IT Mortgage Servicing company was purchased by Ocwen. Ocwen is mediocre in IT response, and they intended all along to reduce force by off-shoring.

    Advice to ManagementAdvice

    Many of the US managers were released in 2015

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

    Positive Experience

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

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

    Pros

    I've had a very positive experience in Ocwen in Coppell, TX. The office space is very nice and is very employee friendly. I find the people I work with very sharp and professional and truly want to do a good job and care about the company. Employees who are not manager are non exempt and paid hourly; this takes getting used to, but it's a good thing as earning overtime when needed is helpful.

    Cons

    The company faces many challenges, but so have most mortgage servicers who've acquired other companies. I think the company truly wants to help homeowners, but they have some issues on the operational side. I feel confident that improvements are being made.

    Recommends
    Positive Outlook
  3. 1 person found this helpful  

    Timeline Specialist

    • 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

    There is a cafeteria onsite and parking is close to the door so that is good.

    Cons

    Leadership is not present, no guidance or room for advancement, constantly worried about jobs being outsourced.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Good pay with horrible leadership from management

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

    I have been working at Ocwen Financial

    Pros

    Pay is good and good hours

    Cons

    Job stability. Lack of communication with management

    Advice to ManagementAdvice

    Listen to your employees. Outsourcing is causing the breakdown of this company, need American workers to actually listen to the customer

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Challenging company to work for

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

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

    Pros

    Flexibility team oriented

    Cons

    Disorganized and not allot of growth opportunity .

    Advice to ManagementAdvice

    Listen to new ideals to help the company run smoother

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 2 people 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
  8. 1 person found this helpful  

    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
  9. 3 people found this helpful  

    Contender for the worst company I have ever worked for

    • 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

    None, nada, nothing to recommend them what-so-ever.

    Cons

    Buys US companies and dismantles them, closes down facilities, fires staff and moves jobs to India. India staff is incompetent, a clone army of over tasked replaceable yes men and women, who take zero initiative, will follow procedures they are instructed to take blindly even when they know those procedures are causing worsening faults in the business related operations. Company is beset with routine operational failures. Upper management micromanages everything and is the epitome of venal incompetence, pecuniary selfishness, and unbounded egotism.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    SPOC

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

    I have been working at Ocwen Financial

    Pros

    Pay was decent until they started laying people off and hiring new workers making way less money.

    Cons

    Benefits are not good. Company has the worst 401k match ive ever seen.

    Advice to ManagementAdvice

    Fix system issues and unreasonable expectations

    Doesn't Recommend
    Negative Outlook
  11. 1 person found this helpful  

    Disaster of a Place

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

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

    Pros

    Salary and bonus potential were solid.
    Some good people, but they struggle to see the big picture and are naive to not pursue jobs with more stable/ethical companies.

    Cons

    Employees only know their job; no training, collaboration, or big picture thinking
    Technology and systems are the worst I've ever seen; computer froze up hourly (that's not a joke).
    Altisource help desk is incompetent, often closing tickets without solving anything.
    Turnover is high and now more layoffs are coming.
    Fort Washington office is a negative, unhappy work environment (half the office space is empty).
    Has an outsourced feel; no set processes and collaboration with teams in India is tough.
    Bonuses won't be much if they continue to hemorrhage money due to questionable practices.

    Advice to ManagementAdvice

    Completely cut ties with Altisource; there are better low-cost alternatives.
    Close the Fort Washington office (maybe others).
    Develop SOP's and training in the U.S. before shipping work to India.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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