Ocwen Financial Reviews | Glassdoor

Ocwen Financial Reviews

Updated February 26, 2017
499 reviews

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499 Employee Reviews

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Pros
  • There is good pay for certain aspects of the company (in 31 reviews)

  • Challenging, but rewarding work environment (in 25 reviews)

Cons
  • Work - Life balance - Traffic - travelling to pritech park office will leave you drained (in 24 reviews)

  • No work life balance huge politics no farm work in company (in 9 reviews)

More Pros and Cons

  1. "Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Property Preservation Manager in McKinney, TX
    Former Employee - Property Preservation Manager in McKinney, TX
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at Ocwen Financial (More than a year)

    Pros

    Company is really working hard on changing culture.

    Cons

    Lots of responsibilities, hard to advance.


  2. Helpful (1)

    "Overall"

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

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

    Pros

    Ocwen is the good place to work, it also gives the learning prospect

    Cons

    There are no downside for ocwen financial solution ltd

    Advice to Management

    Management are good they are really helpfull


  3. "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Business Compliance Analyst in Coppell, TX
    Former Employee - Business Compliance Analyst in Coppell, TX
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Ocwen Financial (More than 3 years)

    Pros

    Very laid back company to work for , wasn't micromanagement for compliance analyst. Just meet deadlines most of all

    Cons

    Non other than the new HR management hired directly from Craigslist and backpage job section using BuildMeAresumefordummies.stopit

    Advice to Management

    Hr management learn to be kind, polite and work on better communication, impersonal, and comprehension skills. So sad to see you made thus far thinking its acceptable .


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  5. Helpful (6)

    "white collar sweat shop"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director in West Palm Beach, FL
    Former Employee - Director in West Palm Beach, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Ocwen Financial full-time

    Pros

    You are paid above market in an area where good paying jobs are not abundant. Location if you are the type of person who likes the beach and hot weather.

    Cons

    The downside of this firm are numerous. If we start at the top... executive behavior is VERY questionable. Because of those executives, the culture is horrible - rigid, dysfunctional, lack of work life balance, racism, sexism, etc. Even if you want to do the right thing - your efforts are constantly obstructed.

    Advice to Management

    I wouldn't advice that the current management stay in place - desperately need new execs


  6. Helpful (3)

    "Mediocre culture which is lacking a decent strategy and good execution"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Vice President in West Palm Beach, FL
    Former Employee - Senior Vice President in West Palm Beach, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    You get paid every two weeks, all cash (little to no equity), and its slightly above market rates

    Cons

    1 - It is a very dysfunctional and obsolete operation for the most part. It's hard to find a process that works as intended without many band-aids. This causes a number of major operational errors which have prompted federal regulators to prohibit the company to do business in at least two key states.

    2 -Technology is very outdated and extremely poorly managed. Their core vendor (Altisource) underperforms and has no incentive to change anything.

    3 - HR policies are very antiquated and it feels like you are back in middle school. For example:

     - Senior VPs are required to punch a time card.
    - Use of perfume in the office is not only desincouraged but also those who do wear deodorant can receive an unsolicited sniff to check compliance.
    - The company does not buy office supplies. You are expected to purchase your own stapler, pens, notepads and even your own mobile phone if you wish to get your emails that way.
    - The company does not provide a corporate credit card - with rare exceptions. You are expected to travel for business and put all charges on your personal card and then request reimbursement. Never mind that the company is in bad financial shape and you have to bear the default risk of your own employer.

    4 - The company lost almost $ 1 billion US dollars aggregated over the last two years and still has no clear strategy for the future.

    Advice to Management

    1- The company needs a strategist. The future of the servicing business is questionable and the lending side is too problematic to be a credible alternative.

    2- There will be no real cultural change until the Altisource conflict of interest is completely eliminated, not just on paper.

    Ocwen Financial Response

    Jan 30, 2017 – Director, Talent

    Thank you for your feedback. We take feedback such as this seriously and are committed to addressing issues, which go against our Company Values. As you may know, we have been focused on process ... More


  7. Helpful (2)

    "Worked there for a couple of years"

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

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

    Pros

    Working at Ocwen was okay. Pay is fine depending on your job title. Co-workers are good people and management and hr tries to engage employees in outside work activities to keep morale up.

    Cons

    Medical benefits are all right but nothing special. Job security is not very good as in order to show profit on their reports they downsize and lay off workers every few months. The did this several times last couple of years at different locations laying off hundreds of people. Just look up ocwen news in google. There is also far too many managers a person has to deal with which is a bit ridiculous.

    Advice to Management

    Treat people with more value. You keep on laying off workers and dumping more work on current employees. What will happen eventually is that this will implode. People can only take on so much and you will eventually loose talent as they will look for other employment.


  8. Helpful (1)

    "manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Escrow Manager in West Palm Beach, FL
    Former Employee - Escrow Manager in West Palm Beach, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Ocwen Financial (More than a year)

    Pros

    There were few pro things about this company.

    Cons

    Poor managment. Eagerness to offshore any and all functions possible. Loose controls have caused great problems with the ability to lend in NY and CA.


  9. "Lay off"

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

    I worked at Ocwen Financial (More than 3 years)

    Pros

    Money is good, people are great.

    Cons

    lay offs are a thing, they are moving everything off shore


  10. Helpful (2)

    "They pay well, but it's not worth it."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in West Palm Beach, FL
    Former Employee - Anonymous Employee in West Palm Beach, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Ocwen Financial full-time

    Pros

    Good salary and bonuses (depending on company/department goals and whether you fit into the right place on the "bell curve" for your personal review).

    Cons

    Everything at Ocwen is a Band-aid, trying to fix years of bad practices and lack of planning. Rather than invest the money in a good technology vendor to fix the mess, they contracted their spin-off, Altisource, as the technology partner, which is a complete disaster. Most of them are based in India, the turnover is insane, virtually forcing you to restart your projects mid-stream as new members get up to speed, no one really understands the main servicing system, and SO MUCH time and energy is wasted.

    Advice to Management

    The CEO, whom I genuinely believe wants to improve things, is shielded from so much from the other members of senior management. There are MAJOR system and process issues that affect customers every day and expose Ocwen to more compliance failures. Until there is new senior management at Ocwen, the culture will never really change.


  11. "Dealer Relationship Manager - Georgia"

    Star Star Star Star Star
    • 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

    I have been working at Ocwen Financial full-time

    Pros

    Some colleagues have generally accepted business behavior

    Cons

    Management has unrealistic expectations of territory from lack of market understanding and independent dealer culture



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