Ocwen Financial

  www.ocwen.com
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Ocwen Financial Reviews

Updated August 15, 2014
Updated August 15, 2014
171 Reviews

2.1
171 Reviews
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
64 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 8 reviews)

  • Too much pressure and no defined work hours (in 5 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Need to learn from past mistakes

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    There are no Pros at this job.

    Cons

    They do not value the experience and expertise of the employees that they acquire.

    Advice to ManagementAdvice

    Learn from past mistakes and value the employees skillsets that you acquire along with the loans.

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

    What was a stable company is now a meat grinder

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

    Pros

    The employees and the pay make staying on while one can the only upside.

    Cons

    Calls are monitored and assigned quality scores on one platform using a quality matrix for a totally different platform leading to impossible to obtain passing quality monitors. Stress and zero communication from higher ups. There used to be a sense that the company cared about long term employees and took pride in how long people worked for the company. Now it is a meat grinder, two and a half years of exceeds company performance levels came crashing down to threats of being fired in TWO months! This job is a meat grinder.

    Advice to ManagementAdvice

    Clearly Ocwen wasn't ready to go from 500 employees to over 3,000. Stop pretending to play ball with the big boys because the company is a joke. It's like a garage band manager bought Aerosmith over night and shrugs shoulders saying well it worked for 500 people so it should work for 3,000 + people. Which is not the case. pathetic excuse for a company.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 3 people found this helpful  

    Employees are considered disposable bodies

    • 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

    Pros

    Some wonderful people work there, and I learned many valuable lessons during my 7 years there.

    Cons

    Awful management, when put in supervisory role expected to work at least 10 hours a day, no middle management so ridiculous amount of direct reports, Too many hours, too much work, no help from management, and overlook qualified internal candidates in order to hire externally.

    Advice to ManagementAdvice

    It takes a long time to fully understand loan servicing and employee retention and knowledge is valuable, stop treating people as meaningless button pushers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Unorganized

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

    Pros

    They have bi weekly pay

    Cons

    all of there departments are outsourced, which means there are allot of layoff, downsizing to India

    Doesn't Recommend
  6. 2 people found this helpful  

    Experience as a former employee

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Analyst  in  Phila, PA
    Former Employee - Senior Analyst in Phila, PA

    Pros

    Insufficient time as an employee to provide.

    Cons

    Came onboard through an acquisition . The growth as a servicing entity and lack of astrong integration team and communication platform resulted in a negative experience. Transition due to a better opportunity.

    Advice to ManagementAdvice

    Even if the goal is growth through acquisition there is room for improvement in your existing business model, process of outsourcing to Altasource sites in India and other non -US sites and vendors indicate lack of QA and a reactive approach .

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    No respect or appreciation

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

    Pros

    Nice office, nice break rooms.

    Cons

    Terrible management, terrible HR, micromanagement.

    Advice to ManagementAdvice

    Take better care of your team, ask your team for feedback.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    This is a terrible company. They are barely stringing us along while they offshore our jobs to India.

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

    Pros

    I really can't think of any.

    Cons

    There is a big lack of communication, the benefits are terrible, HR is a joke.

    Advice to ManagementAdvice

    At least pretend to care about your employees.

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

    Has Potential

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

    Pros

    Pays well
    Growing fast so should be around for a while
    Lots of work so you stay busy
    Not too bad if you get the right manager

    Cons

    Mediocre benefits, very poor downward communication, no work/life balance, high turnover, tend to hire from outside rather than promote from within, more positions filled offshore.

    Advice to ManagementAdvice

    Treat your employees like assets and not like they are trying to rip you off. The good ones will stay and work hard.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    keep looking

    • Comp & Benefits
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    none , Ocwen is buying everything in the mortgage servicing industry. Lots of overlap in servicing moving many people around, getting rid of depts

    Cons

    everything is moving overseas, too many to name here, Benefits including 401k an insurance are not that great

    Advice to ManagementAdvice

    get out while you can

  11.  

    I never worked for Ocwen directly, they were our "clients"

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

    Pros

    NOTHING. there is nothing good about this company. they are a waste of time and care more about money that getting their stuff done on time and correctly and paying their employees, like the people who left previous comments

    Cons

    all of their people are Indian. we cannot understand them, we don't get anything back, we have to repeat and repeat ourselves over and over and over and over and still NOTHING gets done. they are a waste of time

    Advice to ManagementAdvice

    STOP OUTSOURCING!!! if you want your stuff to get done, you need people who speak English and who know what is going on. stop wasting every ones time with people who cannot understand you. instead, focus more on paying your great employees here in the states and train them.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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