Ocwen Financial Reviews

Updated March 24, 2015
224 reviews filtered by
  • Any Location
  • Any Job Title
2.3
224 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
90 Ratings

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 Pros and Cons

Employee Reviews

Sort: Popular Rating Date
  1. Great job.

    • Career Opportunities
    Former Employee - Document Control Specialist in West Palm Beach, FL
    Former Employee - Document Control Specialist in West Palm Beach, FL

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

    Pros

    The work was easy to do.

    Cons

    The only con I had was that my manager wasn't very friendly.

    Recommends
  2. Late payments

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

    I worked at Ocwen Financial

    Pros

    Nice office infrastructure and talented colleagues.

    Cons

    It was a great company (ResCap days), but no longer. Lot of communication gaps. Ever since Ocwen took over the payments very late and yet times 3 or 4 months delay. In between vendor and ocwen there is another payment company called Kelly (KVMS) they take away 5% from consultant billing but not even followup with Ocwen when payments get stuck. Its great frustration to the consultant.

    Advice to ManagementAdvice

    Address the company internal issues first and follow the sustainability processes in all areas. Though those will cost you initially it will work in long run. That will correct the company's inside and outside regulatory issues. Those practices will keep the talent in company, so customers, investors and everyone will WIN!

  3. 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
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 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
  6. 2 people found this helpful

    Bait and switch

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

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

    Pros

    Former GMAC employees know what they are doing and great people. Upper management should consider listenin to them more.

    Cons

    For what you have to deal with - getting yelled at 8 hours a day, the pay is terrible. You have no power and are only the messenger. Unfortunately that message is usually I'll escalate this but turn around time is two weeks. Two weeks is a long time when people are facing foreclosure! The bonuses are nice but the company changes the incentive program once employees start making it work so that they don't have to pay out. It doesn't help that they automatically take 15% either because your site gets more per hour than others! Their systems are outdated and their servers aren't large enough to support the amount of data that their loans take up. Other departments are shipped overseas and screw things up so much that they are backed up and it's difficult to get anything fixed. The company has enormous legal problems as a result. Also layoffs are common so everyone is always on edge about when the next announcement is going to come. I went home crying more days than not. This job was a complete waste of my time that I could have spent with my family and building my own business. But I didn't have enough energy to do so after they sucked my soul every day. I was also told there would be opportunities for a better schedule after a few months. Yet there was not. I was also Told I could change positions after Six months but they bait and switched me on that too. Since so much is done overseas you also only communicate with depts by email and eventually your email just gets buried and ignored. The only way they help homeowners is the lucky few that have a smooth experience. The rest are helped by getting them on the streets.

    Advice to ManagementAdvice

    Upper management - your company is way too big for you to be involved at the bottom. Focus on running your company to avoid legal troubles and give management at the lower levels more support and authority to make decisions.

    My direct supervisor was FANTASTIC. Unfortunately he was one of few. The rest of them are pretty clueless and if you ask for help from someone other than your direct supervisor (and maybe one other) they will talk condescendingly to you, refuse to help and leave you crying and upset. If you aren't willing to help maybe you should step down because you suck at being a supervisor. Many are real quick to write you up for something stupid also - maybe you would have more time to HELP if you didn't spend your time writing people up for ridiculous things and didn't act like you're in a power trip.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 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
  8. 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
  9. 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
  10. 4 people found this helpful

    The last place you ever want to find yourself working. If they recruit you just run away as fast as you can.

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

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

    Pros

    The salary seems appealing at first, then you find out what a mess the place is and wonder how long until you are on the job market again. That is serious as close to a positive as comes to mind.

    Cons

    Directionless management from top to bottom. Try to imagine, or just go to Google and do a search Ocwen, a company so jacked up that it's own shareholders are suing. Putting in 5-10 hours a week of OT isn't enough, there are no definitions of roles or expectations you can turn to, HR will not respond to your emails, your job is highly likely to be outsourced overseas, the company is being investigated by nearly every state and the federal government, there are literally thousands of pending individual and class action law suits against the company, and above all the review process is cooked on a bell curve so that no one can get a top score and they are so bent on meeting their predetermined average score that they literally tell supervisors ot lower employee scores so it doesn't look like the team is doing too well.

    Advice to ManagementAdvice

    Stop buying companies and servicing contracts if you don't know what you are doing. I would also propose that 10 people in India doing the job completely wrong for the same price as one person domestically getting it right isn't a savings. Stop sending jobs overseas just to have me sit here and correct their oncompotence.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 3 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

Ocwen Financial Photos

Work at Ocwen Financial? Share Your Experiences

Ocwen Financial

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.