Ocwen Financial Reviews

Updated October 28, 2014
Updated October 28, 2014
182 Reviews
2.2
182 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
71 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.  

    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
  2.  

    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
  3.  

    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
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  5. 1 person found this helpful  

    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 (less than an 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
  6.  

    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
  7.  

    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
  8.  

    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 (less than an 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
  9. 2 people found this helpful  

    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 (more than an 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
  10. 1 person found this helpful  

    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
  11.  

    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 (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

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