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

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  1. 1 person found this helpful  

    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
  2.  

    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 (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
  3.  

    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 (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
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  5. 1 person found this helpful  

    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 (more than an 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
  6.  

    worst company EVER

    • 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 full-time (less than an year)

    Pros

    None that I can think of

    Cons

    Everything. Pay is terrible. Management has no idea what they're doing. No chance for promotion and micromanagement is stifling. Considering the recent regulatory scrutiny, one would think that the company would shift its focus, but it keeps making the same mistakes over and over. My advice to anyone currently working here: GET OUT. Any prospective employees: think twice before accepting a job offer.

    Advice to ManagementAdvice

    Value your employees and remember that promotions and pay raises provide incentives.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Do not waste your time

    • 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 (more than 10 years)

    Pros

    I really can't think of any

    Cons

    The company doesn't care about their employees or their customers. They are about the bottom line, the money they are "making". Until they aren't making money they aren't going to change a thing. They took the reputation of GMAC and all the hard work they did to do things right and they wasted it.

    Advice to ManagementAdvice

    You get what you pay for. When you pay your "off shore" workers nothing then you get nothing in return.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Big Disappointment

    • 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 10 years)

    Pros

    Great Employee's, Free Coffee in break room

    Cons

    No Training, Outsource all IT to India

    Advice to ManagementAdvice

    Replacing current employees with 3x's as many Inida employees might seem like a great money saving plan, but in the long run you will just have to bring the jobs back to the US. Many companies have tried this plan and the majority have had to bring computer support back to the US. Computer Support should never be outsourced.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    High Stress. No company loyalty to employees.

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

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

    Pros

    Building is comfortable. Has cafeteria, walking trail and workout room.

    Cons

    Old technology requiring manual work. Benefits are poor. No salary increases. Training is inadequate. Very, very cost conscious to the point of being a detriment to the company. Everyone I know wants to find a job with another company and envy the workers who were recently laid off.

    Advice to ManagementAdvice

    Show respect to your employees. Spend money in order to keep good people.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Worst Company I Ever Worked For!!

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

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

    Pros

    There is nothing positive about this company

    Cons

    Bottom line this company is horrible. Upper Management has no clue as to what they are doing and are running this company into the ground.. This place does not care one ounce about their employees. They offer no yearly pay increases, no opportunity for career advancement, and their benefits are the worst.

    Advice to ManagementAdvice

    Get a clue on how to run a major corporation and learn how to treat your employee's with the respect they deserver and you might have a chance to save this company.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Steer clear of this company

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

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

    Pros

    They say they are growing

    Cons

    I worked here 2 weeks before I ran for the hills! Extremely negative environment. The position I was hired for was nothing like they described and I was highly over-qualified. I was supposed to get my final check on Monday and I am still waiting for them to issue it. Employees complained about being micro-managed and not getting paid for their bonuses and commissions. They are laying people off and hiring new people.

    Advice to ManagementAdvice

    Management needs to care more about employee satisfaction. This company seems like they work you to death and have no appreciation for your efforts.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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