Ocwen Financial

  www.ocwen.com
  www.ocwen.com

Ocwen Financial Reviews

Updated November 19, 2014
Updated November 19, 2014
189 Reviews
2.3
189 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
76 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.  

    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
  2.  

    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
  3. 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
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  5.  

    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
  6.  

    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
  7.  

    Great people to work with

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

    I worked at Ocwen Financial full-time (more than 10 years)

    Pros

    When I was there it was not difficult to maintain a work/life balance, but I have heard it is more difficult since I left.

    Cons

    They tended to seek to avoid problems rather than solve them.

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    An unpleasant company to work for and to do business with.

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

    I worked at Ocwen Financial as a contractor

    Pros

    The company has experienced considerable growth by virtue of regulatory changes that has forced banks to reduce their servicing assets enabling non-bank entities like Ocwen to acquire them at favorable prices.

    Cons

    Ocwen's focus is solely on growth and profits. They have no emphasis on customer service as evidenced by handling the majority of customer service operations in India. Ocwen's attitude toward its own employes is similar. The billionaire CEO operates out of the Virgin Islands because of the available tax advantages. Another example of myopic focus on profitability at the expense of operational pragmatism.

    Advice to ManagementAdvice

    Perhaps you'll continue to make money in spite of your management practices. Then again karma does make an appearance from time to time.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9.  

    No growth opportunities, good for first job, employees are not valued (at all).

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

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

    Pros

    Great people, plenty of parking. Great for starting out and learning how a big company (that still acts small) works.

    Cons

    Company culture is anti-employee. Employees are strictly monitored (even salaried employees have to clock in and out). Not much room for growth since the majority of manager/team lead positions and above are external hires (as opposed to internal promotions). The company is growing but pay raises are very rare. Worst part (even from a male's perspective): it is not a female-friendly company. There have been many equal opp suits, and the male to female ratio for positions above manager are about 15:1. Two main issues: It's a big company that acts small, and employees are vastly undervalued. Tread carefully if heading to work here. There is no room for getting sick, taking time off (even PTO over 5 days in a row is strictly "frowned upon"), or asking for raises/promotions.

    Advice to ManagementAdvice

    Learn to value your employees and maybe you'll have a more dedicated/productive staff and less turnover.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Terrible company

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

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

    Pros

    Decent wage, however it was what I was making before Ocwen took over the company. New employees start at a way lower wage.

    Cons

    Everything! Ocwen purchased the company I was working for and closed my department. They outsourced my job overseas. Micro management is severe. Restroom breaks are strictly monitored. Chained to your desk. No flexibility. No room for growth. People with tenure were walked out over the slightest infraction. No job security. Beware if you work here...they prefer to ship jobs overseas. Very minimal USA presence. Even the help desk was outsourced...

    Advice to ManagementAdvice

    If you cared about your employees more than money, there would be less turnover and less unhappy customers.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Not Great

    • 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 to get your foot in the door int he industry. finance/account field, or just to get experience

    Cons

    The company dynamics is not good, benefits are not great, culture needs to improve. During my last couple years the morale was not great at all. Almost everyone was not happy with the way the decisions are being made to reconcile accounts. Little to no employee appreciation for the long hours being put in to get the work done.

    Doesn't Recommend
    No opinion of CEO

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