Ocwen Financial Reviews

Cons

Sometimes the work you do is monotonous​
It's a BPO so experience may not be counted
Less Growth Opportunities
Not challenging in case you are looking for something which drives you towards self improvement

Cons

The company as a whole is unstable. Massive layoffs every year.

Cons

Regulators were coming after the company

Cons

High lay off rate in my specific department

Cons

Company moral took a nosedive after the merger with Gmac. Gmac was a much better company to work for. Ocwen seems to treat it's employees like a burden.

Cons

Nothing gets done unless you forge relationships, which takes time. Too much red tape on the technical side, things routinely take days or weeks that should take a few hours. Employees barely participate in anything as they seem lifeless sometimes.

Cons

You will spend as much or more time cleaning up other departments messes as you do doing your own job because Ocwen had no previous experience with government serviced loans and ignored those of us who did.
Job security is non-existent as Ocwen has a history of purchasing companies, dismantling them slowly and shipping jobs over seas.

Cons

As I was going through training it appeared to me that management had no idea what they were doing. The managers (who would eventually manager you) were people who had NOT PASSED the NMLS, twice. Instead of letting those people go, they were put in management positions to advise you after you were licensed on various aspects of the loan business. After a few weeks it became apparent to me (after talking with licensed advisers, i.e. people who had passed the test ) that they too were frustrated with their managers who could not accurately answer basic questions. I left on my own after coming to terms that the sales floor management and those above them were in fact rudderless. Good luck ~

Cons

The time it takes and the fight you gotta put into the loans to get them funded is ridiculous. Processing gets too high of a base salary so a majority of them don't care if the loans get worked. Plan on processing all of your pipeline if you want a decent paycheck. You will be doing more work than necessary.Plus underwriters over condition and will not work your loan if you give any push back. Oh and the systems are crap.

Cons

They outsourced my job upon acquisition of my company