Ocwen Financial Reviews | Glassdoor

Ocwen Financial Reviews

Updated October 12, 2018
740 reviews

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3.2
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Glen Messina
1 Rating

740 Employee Reviews

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Pros
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More Pros and Cons

  1. Featured Review

    "Friendly environment and good people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Ocwen Financial full-time

    Pros

    HR really works with you
    Management is open to critiques and encourages suggestions
    Lots of networking events for women
    Family like work environment
    Open door policy
    Good benefits
    Exit process easy and explained well

    Cons

    Business practices aren't the best
    In a lot of hot water so your job isn't guaranteed
    CEO is very straight to the point
    A lot of job sectors being liquidated

    Advice to Management

    Keep listening to your people and make sure you operate within compliance better so you don't have to let good people go

    Ocwen Financial Response

    Apr 16, 2018 – Director, Talent

    We’re happy to hear you enjoyed our company culture while at Ocwen. The nature of our industry can be temperamental so we do have to restructure in certain events, but we hear you and will consider... More


  2. "Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - CMC in West Palm Beach, FL
    Former Employee - CMC in West Palm Beach, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Ocwen Financial full-time (More than 3 years)

    Pros

    Decent Salary, Parking and great office vibe

    Cons

    Little to no raises. Travel distance

  3. "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager
    Current Employee - Manager
    Recommends
    Approves of CEO

    I have been working at Ocwen Financial full-time (More than 3 years)

    Pros

    - Steep learning curve
    - compensation is plus
    -work life balance

    Cons

    - shifts
    -


  4. "Senior Servicing Operations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Operations Services Specialist in Waterloo, IA
    Former Employee - Senior Operations Services Specialist in Waterloo, IA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Ocwen Financial full-time (More than 10 years)

    Pros

    Family friendly, Good benefits, Friendly coworkers. Onsite gym

    Cons

    Job security
    High risk taking on numerous companies


  5. "Good Potential, Only Time Will Tell"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Management Employee in Addison, TX
    Current Employee - Management Employee in Addison, TX
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Ocwen Financial full-time

    Pros

    Usually Good Comp, Addison location convenient.

    Cons

    Weak 401k match, Addison site shrinking, be careful on comp as bonus Is not guarantee, hard to fix issues as not allot of authority given to staff.

    Advice to Management

    Work on giving staff authority and encouragement to solve issues. Building a new culture and brand in the industry starts from within. Don’t hire people so you can tell them what to do, hire people that will tell you what to do. That is how we get better as a organization, by encouraging new ideas and best practices. It does not make sense to follow the same direction that failed us once before.

    Ocwen Financial Response

    Oct 1, 2018 – Human Resources

    I think you will be happy with next year's change to the 401k...I'll let it be a surprise! As far as listening to our people, believe me, we do listen. We want to re-energize our environment, so our... More


  6. "Does not value experienced employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Position was flexible
    Dress code
    Enjoyed working with my co-workers

    Cons

    Executive management is not transparent
    Does not funnel communications properly
    Company loves to outsource
    Outsourced several departments

    Advice to Management

    Be loyal to your employees and they''ll be loyal to you.

    Ocwen Financial Response

    Oct 1, 2018 – Human Resources

    We appreciate your feedback. We heard the request for more communication and transparency in our last employee survey and are making huge strides as a result. With this change in our corporate... More


  7. "Home Retention-Doesn't Value Employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Home Retention in Addison, TX
    Former Employee - Home Retention in Addison, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Ocwen Financial full-time (More than 5 years)

    Pros

    Reasonable goals and potential bonuses.

    Cons

    No employee appreciation, a lot of layoff recently.

    Advice to Management

    Value the employees, its understandable that there are business needs but also employees would like to be fell value and recognize for the hard work.

  8. "Manager - Reporting and Analytics"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great pay, they hire smart after rigorous testing, relaxed culture and heavy diverse.

    Cons

    401k match could be bumped up a little.

    Advice to Management

    Put together a solid system to govern change control


  9. Helpful (1)

    "Default Relations Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Default Relations Manager in West Palm Beach, FL
    Former Employee - Default Relations Manager in West Palm Beach, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Ocwen Financial full-time (More than 3 years)

    Pros

    Ocwen is a GREAT place to work , in my department everyone worked together as a team, we were like family. I made sure as a Manager, that everyone's opinion mattered and that everyone was treated with the respect they deserved, no matter what their grade level was, everyone was treated equally. That's what made OUR team great in West Palm Beach.That's what makes Ocwen Superior, they care about their employees as well as their customers. I Love and miss my co-workers!!!

    Cons

    There is room for improvement with communication between Managers , employees and internal business units.

    Advice to Management

    Work more on receiving suggestions and opinions from all grade levels internally and act accordingly on building a stronger and trusting bond between Management and employees, once this is MASTERED internally, there would be minimal complaints ...showing that you value, appreciate and love your employees is a start to greater things...


  10. Helpful (1)

    "Overall good company but some critically poor decisions"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loss Mitigation Supervisor in Addison, TX
    Former Employee - Loss Mitigation Supervisor in Addison, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Ocwen Financial full-time (More than 5 years)

    Pros

    They are committed to improving the corporate culture.
    They are generally fair in how employees are treated.
    Compensation is generally in line with the industry.
    Good relationships up and down the chain.
    Committed to improve processes.
    They really do care about helping homeowners, so you go home with a great sense of satisfaction that you have helped someone in need and your company has supported you and the homeowner throughout the process.

    Cons

    Some executive level decisions have crippled the company. For example, they had the opportunity to switch to an industry standard servicing platform when they took over GMAC Residential Capital but they doggedly stuck with their proprietary platform. In the end, regulators/states sanctioned them from boarding new business to their servicing platform because of its deficiencies which has led to a downward spiral in business. You cannot survive in mortgage servicing if you cannot board new business to your platform. Also, in the past they have had poor controls in place which has led to servicing errors impacting customers. This resulted in multiple fines and sanctions. These are lessons that they had to learn the hard way because there was a "we don't need your advice, we know what we're doing" attitude. They only changed after being sanctioned, which demonstrates poor foresight. The worst impact of all of that has come at the expense of over half of their workforce. There are layoffs about every 6 months (often occurring in December right before Christmas).
    You are not going to make a career for yourself at Ocwen. At least not at this time. There is a hiring freeze and no opportunity for internal advancement.

    Advice to Management

    Get ahead of the game. Too many decisions have been reactive and resulting from fines or sanctions rather than looking ahead to see how to build a world class mortgage servicing business. Get your management out on the floor. Our executive level management (Directors and up) were rarely seen except on the way to their car at the end of the day - and their offices were just outside of our work area. There is absolutely no reason a Director or VP cannot spend an hour a week walking the floor, asking employees how they're doing, and soliciting feedback.

    Ocwen Financial Response

    Aug 31, 2018 – Human Resources

    We really appreciate your candid feedback and are in complete agreement about getting ahead of the game! There are many exciting and positive changes happening in the organization which I am... More


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