Ocwen Financial Reviews

Updated April 17, 2015
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2.4
232 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
94 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

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  1. Great Learning Experience

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

    I have been working at Ocwen Financial

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good compensation, benefits, and monthly commissions always paid on time. Ability to learn all aspects of loan servicing banking industry.

    Cons

    Long hours, no concern for employees with families. Daily fire drills, little to no training. Sink or swim environment, only the strong survive.

    Advice to Management

    What goes around comes around. Your employees made you all those millions and you did was disrespect them. 4th quarter 2014, reported losses $600MM

  2. Loss Mitigation

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

    I worked at Ocwen Financial

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Working with nice people, good bonuses.

    Cons

    Insufficient tools to do the job. The system Ocwen uses is very cumbersome.

  3. The potential is there

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

    I worked at Ocwen Financial

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Good people and work environment

    Cons

    I would prefer better communication

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


  5. analyst

    • 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

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    work was good as an analyst and get global exposure

    Cons

    Lack of exposure and restricted to grow

  6. Manager

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

    I have been working at Ocwen Financial full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Autonomy and hard work with strong ethics will get you far.

    Cons

    Lack of communication between sub-departments.

    Advice to Management

    Increase positive perception through media.

  7. Neutral

    • 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

    Tries to improve employee engagement on the surface but needs to do a better job. Not much flexibility offered. A lot of the trainers are not trained very well themselves.

    Cons

    No job security. Workplace drama.

  8. 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)

    Recommends
    Recommends

    Pros

    The work was easy to do.

    Cons

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

  9. Helpful (1)

    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 Management

    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!

  10. Helpful (1)

    The Underworld itself...

    • 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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Pros nothing that I can think of besides the pay and that's about it...

    Cons

    Everything in this company is terrible I'm in Customer Care and pretty much everyday you get yelled at. You can't actually give your own opinion or anything without having to follow "The Script" which I believe a monkey invented. The computer systems in this company are dreadful nothing works and then you get in trouble for not documenting an account but how can you when you get 50 errors popping up on your screen...? and then the system just decides to magically crash. You tell management that and their answer "send it to IT" or "I don't know" then two weeks later you get a meeting with your supervisor saying "why aren't you reporting these system errors? it is your job to do so." REALLY???? Also if you decide to have the position in CCC you are in for a wake up call especially by QA... those people are the worse they will doc you for EVERYTHING and when they do it gets reported to you and your supervisor. All the docs they do are unreasonable I don't know of how many disputes I've had but whoever is in QA should technically be terminated for the docs they given me and the disputes I have had. All in all this company is stressful and depressing, you get yelled at everyday, by the customers because it's impossible for this company to put peoples money in the correct place. So we get the calls coming in and just getting yelled at saying that they requested to have such and such funds go from their account to another like a month ago and never happened. I just can't explain of how much this company just loves to mess with peoples money and they think it's a joke. Like I said CCC is the worse position ever you try to help nothing works our notes are ignored except by QA cause they want EVERY little detail as possible notated on the account you miss one thing 10 point deduction right off the bat. Yet what's also not fair as well is when you enter "wrap up time" you can't have that time go above 60 seconds yep that's right 60 SECONDS. Which is just near to impossible especially when it's something important that needs to be on the account(s). That's my little rant about this "marvelous" company, stay away from it.

    Advice to Management

    Please stick up for you coworkers and stop saying "I don't know" to everything or "you should know this by now" if you don't want to help and be supportive please leave.

  11. 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)

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

    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 Management

    Many of the US managers were released in 2015

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