Ocwen Financial Reviews

Updated September 20, 2014
Updated September 20, 2014
176 Reviews
2.1
176 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
65 Ratings

Review Highlights

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

  • earn good incentives with a chillax enviornment (in 5 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    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 for less than a 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.  

    Analyst, Contract

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

    I worked at Ocwen Financial as a contractor for less than a year

    Pros

    Professional appearing office environment, Coppell. Some good coworkers and contractors. Depending on who you work for it can be a positive experience with support for your position.

    Cons

    Lack of process documentation related to data requires seeking out individuals.

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

    Terrible company to work for!

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

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

    Pros

    There aren't any good things about this company.

    Cons

    Lack of systems; executive management doesn't understand mortgage servicing; exec mgmt is unfamiliar with regulations governing the operation; doesn't understand the role of GSE. Bottom line is the only thing that matters. They run their business like a cult. You either believe in their skewed philosophy and push it down everyone's throat or you won't make it. Made it very tough to go to work everyday.

    Advice to ManagementAdvice

    Look elsewhere! The on-shore management has VERY short tenure. They can't keep anyone past the relocation commitment. RUN THE OTHER DIRECTION.

    Doesn't Recommend
    Negative Outlook
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  5.  

    Once Ocwen Purchased GMAC it all went downhill

    • 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

    Pros

    Good Pay, Great PTO allowance, decent hours

    Cons

    micro-management, unrealistic expectations. not much departmental growth

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Ocwen is strongly focused on shareholders and financials however not so much in the realm of their employees

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

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

    Pros

    Very strong player in the Mortgage industry and financially stable

    Cons

    Ideas and innovation are not welcomed and opportunities for improving key ares are frowned upon by senior management.

    Advice to ManagementAdvice

    I'd strongly suggest investing in the improvement of the morale of your employees. Although work is getting done, so much more can be achieved by addressing their concerns especially within the realm of technology

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    Getting Worse

    Former Employee - Anonymous Employee  in  Fort Washington, PA
    Former Employee - Anonymous Employee in Fort Washington, PA

    I worked at Ocwen Financial full-time for more than 8 years

    Pros

    none... At one point I would have said co-workers but EVERYONE on the floor is miserable and looking to get out.

    Cons

    So many... awful systems, awful management, outsourcing to people who don't have a clue, so much ego (no one can admit they are wrong), there is no way Senior Management can know how awful this company is run because they wouldn't allow it to continue (or so I would hope), the pay is awful (no chances of increases), no opportunity to advance in the company, no security (each day might be your last, you don't know!), laying off employees then extending them again and again (even stopping them on their way out on their last day with box in hand and telling them they are extended), no communication. It's just bad... AND I find it interesting that there's an influx of reviews from India on her all of a sudden. Be weary.

    Advice to ManagementAdvice

    Look at how your company is being run, the day to day. It's not right or moral.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Nothing Positive to Mention about Ocwen Financial.

    • 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

    There are no good reasons to work here except that your company was taken over by Ocwen and you haven't found another job yet.

    Cons

    No communication; no training ; no connection with employees by management; antiquated database with flawed data; a support team that doesn't understand the job functions; unethical practices with borrower funds; the list goes on and on...

    Advice to ManagementAdvice

    Invest in a 21st century system and ask your employees how they feel about the company.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Management by Intimidation

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

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

    Pros

    None I can think of

    Cons

    Where to start - so much is wrong with this company. Management style is to keep employees on edge thinking they will be fired for minor infractions (one person was fired for not having a lid on their coffee). Non-hourly employees are expected to work 60-70 hours a week. The majority of the workforce (80%) is overseas and many key people do not work US hours so it's impossible to get work done quickly.

    Benefits are terrible and other than health insurance, are non-existent.

    Advice to ManagementAdvice

    Management is above taking advice from anyone, so nothing said here would make a difference.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  10.  

    Love my co-workers!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Data Analyst for Ombudsman  in  West Palm Beach, FL
    Former Employee - Senior Data Analyst for Ombudsman in West Palm Beach, FL

    I worked at Ocwen Financial full-time for more than 8 years

    Pros

    I worked with some great people who did so much with so very little. I will miss them tremendously.

    Cons

    The Helpless Desk. When your job is data analysis but you can't get the data there are no explanations that are worthy. I don't bite the hands that feed me, but this firm does not understand how trains run on time.

    Advice to ManagementAdvice

    Money spent on infrastructure and technology in an investment. Hiring the cheapest available provider, not so much.

    Recommends
    Neutral Outlook
    No opinion of CEO
  11.  

    RUN as far and as fast as you can from this company

    • 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 for more than a year

    Pros

    I really don't have anything good to say about the organization.

    Cons

    They came in and immediately began laying off ENTIRE DEPARTMENTS! They said they wanted a bigger US presence, but still wanted to outsource as much work as they could. They DON'T care about their employees or their loyalty to the company. Benefits are horrible. Tuition reimbursement is not provided for graduate students. Company culture and morale are extremely low.

    Advice to ManagementAdvice

    DO BETTER!

    Doesn't Recommend

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

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