Ocwen Financial Reviews | Glassdoor

Ocwen Financial Reviews

Updated October 19, 2017
124 reviews

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

124 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 29 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. "Relationship Manager"

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

    Pros

    if you bonused, it was very comparable

    Cons

    constant layoffs, unorganized, doesn't listen to employees, no base pay rases, too many ways to prevent you from bonus, no way to calculate bonus, not easy to promote


  2. Helpful (1)

    "ORGANIZATION SKILLS"

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

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

    Pros

    The pay and benefits are good and the companies values are great. The CEO has great purpose for the company.

    Cons

    The team leads they place in authority have poor organization skills and management skills.

    Advice to Management

    They should be hiring experienced leaders and workers, not friends that have no experience in the field. Hiring for the pay not the commitment to help the organization grow. Those individuals is what's sabotaging the company. They have not idea of the urgency of making money to put back into the business. The attitude is very complacent.

  3. 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.

    Ocwen Financial Response

    Sep 21, 2017 – Human Resources

    At Ocwen, our people are our most fundamental resource. Career growth is important to us, and we're always looking for opportunities to reward hard work and loyalty. Our goal is to provide a positive... More


  4. "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.

    Ocwen Financial Response

    Sep 21, 2017 – Human Resources

    We couldn’t agree more that our people are our greatest resource. We appreciate your honesty concerning your work experience with us, and we are sorry to hear about your dissatisfaction with... More


  5. 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


  6. Helpful (3)

    "Company Looks For Ways NOT to Pay LOs"

    StarStarStarStarStar
    Current Employee - Loan Officer in Addison, TX
    Current Employee - Loan Officer in Addison, TX

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

    Pros

    Laid back call center environment, monthly commission as well as quarterly bonus potential. Company provides licenses in multiple states as well as CE.

    Cons

    Stats are designed to be difficult to achieve for maximum compensation. Many leads are not qualified. Constantly changing expectations, sometimes day to day changes.

    Ocwen Financial Response

    Aug 8, 2017 – Sr. Manager, Recruiting

    Thank you for your continued hard work at Ocwen! We aim to provide the best support possible to our employees so they can reach their goals. We would love to hear your feedback on how we can perform... More


  7. Helpful (1)

    "High Turnover"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Ocwen Financial full-time

    Pros

    I am struggling with thinking of one... good location

    Cons

    Building , management , lack of training , constant off-shoring of jobs, numerous lay-offs

    Advice to Management

    Start with a whole new executive and mid-level management. Hire leaders that are motivators and business smart

    Ocwen Financial Response

    Jul 26, 2017 – Content Marketing Manager

    We’re always interested in working toward an environment in which all our employees are happy and comfortable. We encourage you to speak with our HR team or your direct manager so that we can help... More

  8. Helpful (4)

    "Underwriter"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriter in Boston, MA
    Current Employee - Underwriter in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Remote, benefits, have a great reward system for clean qa approvals, sporadic trainings but in depth when they have them, solid pay.

    Cons

    They do base incentive off units, which is against govt guidelines, bc that creates a problem, in with which it has created a problem, they want to close everything, thus still being the sub prime lender reputation they had and still have. Management is too busy, the management had a hard time helping their employees, it was basically, that's wrong, you suck, you should have known that. Sales runs the place and talks to the underwriters like garbage. They will go over your head for everything. This place is in trouble for valid reasons, stay away.

    Advice to Management

    Take time to coach employees when they make a mistake, allow your underwriters make judgement calls and stick by them. Offer a situational underwriting help desk so uws can call to ask questions instead of wait around for leads to get back to them back.


  9. Helpful (1)

    "Typical Greedy Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Operations Services Specialist in West Palm Beach, FL
    Current Employee - Senior Operations Services Specialist in West Palm Beach, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Ocwen Financial (Less than a year)

    Pros

    Boring, mindless work for decent pay

    Cons

    Greedy corporation - horrible management - horrible office location by a city dump (warehouse made into own cubicle offices)

    Advice to Management

    There are no words that would help

    Ocwen Financial Response

    May 10, 2017 – Content Marketing Manager

    At Ocwen, one of our Company Values is to develop, grow and support our employees so we are sorry to hear about your frustration with our management and leadership teams. We understand the importance... More


  10. "OK company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Ocwen Financial full-time

    Pros

    Very flexible position for someone with children.
    Good co-workers

    Cons

    Management really doesn't listen or know how to manage. The leadership structure makes no sense to me. They put a bandage on issues and rarely really root cause them

    Ocwen Financial Response

    May 10, 2017 – Content Marketing Manager

    Thank you for taking the time to leave your feedback. We are sorry to hear about your disappointment with the management here at Ocwen. While we will be taking your feedback into consideration as we... More


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