Ocwen Financial

www.ocwen.com

Ocwen Financial Reviews

Updated January 22, 2015
Updated January 22, 2015
206 Reviews
2.3
206 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
83 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.  

    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
  2.  

    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
  3.  

    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 a 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
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  5.  

    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 a 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
  6.  

    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 a 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
  7.  

    Great Learning Experience and really satisfied with the pay.

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

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

    Pros

    I enjoy working with the people there and there is always something new to learn everyday. It is a fast paced work environment which helps time to go by fast. The employees there are always willing to help each other out.

    Cons

    I really do not have any cons for this company. I enjoy my job.

    Recommends
    Positive Outlook
    No opinion of CEO
  8.  

    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
  9.  

    Mistake

    • 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

    Will have to think of one... If you're technically talented, then you will be in demand because no real talent sticks around at this place.

    Cons

    Political hierarchy with lots of impediments to productivity; horrible work-life balance

    Advice to ManagementAdvice

    Keep focusing on getting people from overseas. They are the only ones who would be willing to stick with you.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    No set procedures and management has no idea of what is going on.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative in Addison, TX
    Former Employee - Customer Service Representative in Addison, TX

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

    Pros

    You can get paid for doing nothing.

    Cons

    No one takes ownership of anything.

    Advice to ManagementAdvice

    Check to see that your Supervisors and Managers know what is going on.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    They don't really care.

    • 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 full-time (more than 3 years)

    Pros

    Pros? What pros are you talking about?

    Cons

    Your job will be offshored. It's all about the shareholders and not about the value of people.

    Advice to ManagementAdvice

    Learn how to communicate with employees. Build a culture where associates will thrive.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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