Ocwen Financial Reviews | Glassdoor

Ocwen Financial Reviews

Updated September 14, 2017
588 reviews

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2.8
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Ocwen Financial President, CEO, and Director, Ocwen Financial and Ocwen Federal Bank Ronald M. Faris
Ronald M. Faris
279 Ratings

588 Employee Reviews

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Pros
  • Ocwen has good pay structure and the annual hikes are above market range (in 41 reviews)

  • The work environment is awesome facilities provided to the employees his at his best (in 27 reviews)

Cons
  • Work - Life balance - Traffic - travelling to pritech park office will leave you drained (in 27 reviews)

  • No work life balance huge politics no farm work in company (in 11 reviews)

More Pros and Cons

  1. Featured Review

    "It's been an amazing journey at Ocwen so far.."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Retention Consultant/Relationship Manager in Mumbai (India)
    Current Employee - Home Retention Consultant/Relationship Manager in Mumbai (India)
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Pay is very Good as compared to the work you have to perform
    Friendly Atmosphere
    Amazing Co Workers
    Lot of facilities given to employees as compared to other companies

    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

    Advice to Management

    Great Place to Work but try introducing few L and D which would actually help the employees


  2. "Case Manager Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Case Manager in Fort Washington, PA
    Current Employee - Case Manager in Fort Washington, PA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Staff is very friendly, No Micro Managing, Casual Dress Code, Flexible schedule, Beautiful office with amenities such as Gym, Basketball court, and Food Court. Salary is fair.

    Cons

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

  3. "Decent place"

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

    I worked at Ocwen Financial full-time

    Pros

    The pay and benefits were ok

    Cons

    Regulators were coming after the company


  4. "Relationship manager"

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

    I worked at Ocwen Financial full-time

    Pros

    Great pay, great benefits, flexible hours

    Cons

    High lay off rate in my specific department


  5. "Relationship manager iii"

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

    I worked at Ocwen Financial full-time

    Pros

    Good pay, good working location, quality insurance.

    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.


  6. Helpful (1)

    "Senior Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Analyst in West Palm Beach, FL
    Former Employee - Senior Analyst in West Palm Beach, FL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Decent pay for South FL, health benefits are a reasonable cost. This place will stretch your ability to be patient and forge relationships.

    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.

    Advice to Management

    Empowerment is good but if you allow the BU leaders to run their BU like their own company, you will never get out of the "silo". Many BU leaders probably need to be replaced just to change that mindset. Nothing personal against anyone.


  7. "Home Retention Consultant"

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

    Pros

    Great pay and benefits
    Good co-workers

    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.

    Advice to Management

    Listen to and trust the people/management on the ground and in the trenches doing the day to day work. They are your greatest resource.

  8. "Inside Sales Adviser"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Inside Sales Advisor in Rancho Cordova, CA
    Former Employee - Inside Sales Advisor in Rancho Cordova, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    The base pay of $20 was fair and a few of the LO's seemed to be making pretty good money.

    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 ~

    Advice to Management

    Hire experienced, mature managers who know the business.


  9. Helpful (2)

    "The training is amazing if you are new to mortgage."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in D Lo, MS
    Current Employee - Anonymous Employee in D Lo, MS
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    They gave me a chance and paid for all of my licenses even though I had never been in mortgage before. I work with an amazing team of people and I have been shown the ropes and what it takes to be a great loan officer. They have some of the most knowledgeable employees.

    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.

    Advice to Management

    Hold your people more accountable. You are steadily losing loan officers for a reason. LOs work too many hours to get too little of pay. You're paying your processors and underwriters too much. If they have great base pay they have no incentive to work the loans like they should.

    Ocwen Financial Response

    Aug 22, 2017 – Director, Talent

    We’re extremely happy to hear that you’ve found your training both challenging and rewarding. We want to offer the best to our employees, so it’s great to hear. Your constructive feedback is very... More


  10. "Outsourced my job"

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

    I worked at Ocwen Financial full-time

    Pros

    Got a small severance with my layoff

    Cons

    They outsourced my job upon acquisition of my company


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