Ocwen Financial

  www.ocwen.com
  www.ocwen.com

Ocwen Financial Reviews

Updated December 18, 2014
Updated December 18, 2014
197 Reviews
2.3
197 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
80 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.  

    Low stress high quality expectations

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Home Retention Consultant in Houston, TX
    Current Employee - Home Retention Consultant in Houston, TX

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

    Pros

    Great bonuses structure most departments.

    Cons

    Unrealistic quality expectations. Poor entry level management

    Advice to ManagementAdvice

    Get team leads training

    Recommends
    Positive Outlook
    Disapproves of CEO
  2.  

    archaic

    • 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 pros to note

    Cons

    a sausage grinder for employees

  3. 1 person found this helpful  

    Awful company to work for

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

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

    Pros

    I can't think of any

    Cons

    I was hired as a manager. (That is what job title said.) My first day there they told me I was a supervisor and not a manager. I brushed it off at first but the first thing I noticed is there is 0 moral in this place. Upper management doesn't care about the employees. I asked someone about perks the company has and they laughed at me. I was there for about 8 months and never received anything...No free lunch, no Holiday bonus or party, etc. They had so many employee rules, it was worse than the Navy.
    People would get fired randomly then managers would have to find out what the person was working on since they were not notified until after they were fired. No one would ever say the reason for terminations but most were hard working and shocked us when some were let go. Twice my manager came up to me and said find out what he/she was working on because they got fired and he didn't know it was coming. It's no surprise less than 10% of the people there had been there over than a year.
    The CEO seems to get free lunches everyday brought in by an outside caterer but the employees get treated like crap
    One other note: The computer I was using was made in 2004 and the monitor was made in 2006. I found out they get shipments of used computer equipment and deploy them to the employees. It's really sad when you are typing an email, you have to wait for the computer to catch up because it was so slow, how do they expect employees to be productive? Computers are $400 new that would be 10 times as fast

    Advice to ManagementAdvice

    Treat employees like employees instead of Walmart workers

    Doesn't Recommend
    Disapproves of CEO
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  5.  

    I'll re-iterate "BIG DISAPPOINTMENT!"

    • 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

    If you last, you'll receive some kind of pay.

    Cons

    Too long to list, although the top 2 are 2. Overall benefits and pay - below average. 1. Executive Management doesn't appear to care about the employees.

    Advice to ManagementAdvice

    It's obvious to that Executive Mgmt and the Board doesn't appear to care about their people, profit is the #1 goal at all cost and the turnover rate is high, even at the Director and VP levels, which is unusual in the financial industry. Remember, some companies grow because of great management, others companies grow despite of management.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Not Happy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Officer in Dallas, TX
    Current Employee - Loan Officer in Dallas, TX

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

    Pros

    They pay you on time...

    Cons

    Most of the processor are horrible. Takes too long to close refinances.

    Advice to ManagementAdvice

    Make processor financially accountable for funding loans just like processors.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Poor communication and insists on outsourcing, but has potential down the road

    • 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

    Pros

    Hours, pay and benefits are decent. In terms of Loan Servicing, they appear to be a major player consuming portfolios across the country. This could potentially lead to multiple opportunities.

    Cons

    Continuous outsourcing and layoffs. Top leadership lacks the ability to communicate a clear plan and direction with staff Management. Communication between departments is compromised due to key departments being located in areas where English is not the primary language. Can't recommend to a friend until more opportunities are kept onshore

    Advice to ManagementAdvice

    Develop a direction and stick to it. Releasing key personnel to save a few bucks and hire 3 offshore people doesn't necessarily equate to better service or performance

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Two words "BIG DISAPPOINTMENT"

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

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

    Pros

    While I was an employee, I did receive training that was beneficial to my job expectations. Not much else to report on pros with this company except maybe the benefits package.

    Cons

    company is known for outsourcing. Ocwen has laid off 844 employees after purchasing GMACM. Prior to that Ocwen laid off over 900 employees after purchasing Litton Loan Servicing.

    Advice to ManagementAdvice

    Take care of your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Internal Review Group Supervisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Supervisor in Coppell, TX
    Current Employee - Supervisor in Coppell, TX

    I have been working at Ocwen Financial full-time (more than 5 years)

    Pros

    The hours are flexible and the location is not bad.

    Cons

    Management in the company is terrible, the company does not give raises nor bonuses. Many people have left for the reasons listed and for many others. Avoid at all costs.

    Advice to ManagementAdvice

    You need to start taking care of your most valuable asset...people. Offer better compensation packages and please get rid off the people who are running some of these departments, as they clearly are not the right people to manage groups!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Don't waste your time If you think to make a career in this organization

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

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

    Pros

    good pay , nice facilities very, good friends

    Cons

    not organized you need to find the information by yourself , a lot of system issues, customers disagree with the policy of the company

    Advice to ManagementAdvice

    Managers tried to do their best

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Only a pit stop. Not a place to grow.

    • 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

    Challenging work content that gives deep insight into the mortgage servicing industry. Overtime available. Great people to work alongside.

    Cons

    Rampant micromanagement, constant mergers and acquisitions that create staffing issues and high turnover, little work-life balance (in certain departments)

    Advice to ManagementAdvice

    Value people. Please.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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