It appears we are all in the same boat with this mess. I have been reading the information posted about contact you have made with the New York Department of Finance. I am in the state of Virginia. I have gone to the Virginia Bureau of Financial Institution to see if I could find anything mentioned there.  They mentioned this....

Consumer Alerts / Information

Ocwen Loan Servicing Settlement

December 19, 2013 – The Consumer Financial Protection Bureau (CFPB), authorities in 49 states (including Virginia), and the District of Columbia filed a proposed court order requiring the country’s largest nonbank mortgage loan servicer, Ocwen Financial Corporation, and its subsidiary, Ocwen Loan Servicing, to provide $2 billion in principal reduction to underwater borrowers. The consent order addresses Ocwen’s systemic misconduct of the mortgage servicing process. Ocwen must also refund $125 million to the nearly 185,000 borrowers who have already been foreclosed upon and it must adhere to significant new homeowner protections.

A factsheet about the proposed order can be found at: http://files.consumerfinance.gov/f/201312_cfpb_factsheet_ocwen.pdfExternal Link logo

Common consumer questions and answers about the order can be found at: http://files.consumerfinance.gov/f/201312_cfpb_common-questions_ocw...External Link logo

Questions about this matter can also be directed to Ocwen at 1-800-337-6695 or [email protected]

It shows me that OCWEN has been on the watch list for some time now but nothing posted yet about ALTISOURCE/HUBZU. I want to file a complaint/inquiry to them. What I would like to know is, what did you say in your letters to your States to get them to look into it? I have been battling this issue for months now and have done all other recommendations everyone has posted but still nowhere.

Any suggestions would be greatly appreciated.

Thank you all for your assistance.


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Its more far-reaching than what you mention - Read the attached letter from CFPB to Ocwen dated yesterday.


Letter from NY Dept of Finance. Each of us should forward a copy to our respective State AG officie


Wow This is amazing. Thank you for sharing with me. I will get working on the state of Virginia.


Many have been hurt by Ocwen and Altisource. People who have lost their homes - families, single moms, children, senior citizens. Realtors have been hurt. Vendors, buyers, employees.... the list goes on. Those who are blinded by greed deny others what is rightfully theirs. If more money can be made by paying employees poorly, then why not? If more money can be made by squeezing something out of a poor realtor's commission, why not? That is how they think - those who are driven by greed. They snatch from others what does not belong to them - homes, ideas, intellectual wealth, customers... This is theft. This is a crime. It promotes social inequality. Victims experience sorrow and despair and many loose their faith in natural justice.

The victims of Ocwen-Altisource have thus far obtained little success. Most have given up. Some think they are too small to make a difference. Some think that no one will help them. Some just have to give up because it isn't financially feasible to fight Ocwen-Altisource.

Must we then give up? Should we not help our sisters who are on the verge of being forced out of their homes? Those very realtor friends who stood by us, recommended us, helped us in many ways now face a future of uncertainty as Altisource craft strategies to snatch their inventory. Move over Mrs. Hudson, Sherlock Holmes will now live in an Altisource rental home! Perhaps plans are in place to remake "The Apartment", with Baxter now living in an Altisource rental home! They have money, staff, attorneys, PR firms... what do we have?

We have the five powers. Faith, energy, mindfulness, concentration and understanding. Using these we can help others and ourselves.

Are you too small to make a difference? "If you think you are too small to make difference, try sleeping with a mosquito." A small mosquito can cause a lot of trouble, even malaria. Have faith in your abilities.

When contacting regulatory authorities, attorney generals, congressmen etc. you will need to keep in mind that are not Realtors or employees of Altisource. You may need to simplify Ocwen-Altisource's complex business structure and explain how it is designed to promote foreclosures. And you will have to do this repeatedly. Does your congressman know much about OMAT1 or Blue Valley Apartments or HLSS or NewSource? Possibly not. Ocwen-Altisource have designed a business structure that can confuse even very experienced analysts. Government officials are busy people who may not know much about loan servicing and Ocwen and Altisource.

You may use information available here:

And here:

We will need to create awareness about Ocwen-Altisource among lawmakers, regulators, media-men and people in general. If you wish to help, spend 30 minutes in a day writing to people who matter in your state or to people at CFPB or DFS or media-men explaining how you have been hurt by Ocwen-Altisource's predatory practices. Explain how this will hurt your community. You will need energy. It comes from faith.

In India, if you submit rent receipts and proof showing investment in certain types of financial instruments, you can save on the amount of tax you are required to pay. I have never done that believing that the more tax we pay, the more we strengthen our nation. My friends at Altisource group of companies remind me that they are headquartered in Luxembourg and US Virgin Islands so they can save on taxes! They certainly don't think like me.

Please do spend some time to help heal the wounds people have suffered at the hands of Ocwen-Altisource and help prevent others from experiencing the same fate. If we are mindful, we can make a lot of difference. Concentration will develop. With concentration, understanding will develop. Looking deeply we will know all there is to know. To be free. To be happy and to make others happy.

(The author, Saurabh Singh, is a student of the Buddhist monk Thich Nhat Hanh. He is a Foreclosure Prevention Activist and a vegan. He is also a member of People for Ethical Treatment of Animals(India), Consumer Advocates in American Real Estate, UNITES Professionals and supports various charitable causes and crowdfunding.)

I see Mr. Singh has turned on Altisource now. Perhaps you can give us some insight on how we can work around this tactic of trying to force short sales through altisource?

I was successful a few months ago on one file kept pushing the sellers attorneys case about threatened litigation from purchaser, but now I just got another file to the point of being told last week that the bpo was in line with our offer and it was going for approval, then recieved the famous altisource email this morning. I immediately replied with a letter from seller opting out and recieved this reply " For any offer to be considered for approval, participation in the Assisted Short Sale Program is an Ocwen requirement and all offer needs to be submitted on Hubzu. At this time, a short sale would not be considered on this property."  This reply came from altisource, but I also sent an email to escalations at ocwen so hopefully there will be a positive response from them. 


Hello Dimitri,

I firmly back short sales and I have highlighted Ocwen's Assisted Short Sale Program as one of the three best ideas in real estate in the year 2013. However, Altisource would rather foreclose on properties. It makes better financial sense to them. They want to make more money and would rather foreclose.

I recommend that you participate in the program and prevent your seller from becoming yet another victim of Altisource's insatiable greed.

How Ocwen benefit Altisource at the expense of the investors.. Lear...

Saurabh Singh, you were recently telling us how OCWEN and Altisource do not want foreclosures?What gives?

Its a well established fact that the majority of the investors on these loans were securities (series 2007, 2006 etc). The loss on these loans has probably been written off many times over, its really just a matter of liquidation at this point, I have seen these investors take 100,000 on a million dollar debt without hesitation on a short sale. Bottom line is Ocwen knows the threshold that will make deals work and is using it to their advantage to pad fees from title searches, bpo's, auction fees, etc. This assisted short sale program is only assisting them to make more profit on these distressed loans. Its interesting how new York state is digging into this relationship between altisource and ocwen, I am sure other states will follow suit. Interesting catch phrase "helping homeowners is what we do" , its more like helping ourselves is what we do.

I sincerely helped people when I was at Altisource. When with REO I helped people who were not getting responses or assistance apart from performing my duties. I tried to protect the interests of the investors by objecting to undue monetary benefits like large price reductions from being passed on to certain builders in California. I helped people who were buying homes to live in, as much as possible. Altisource made it difficult for them at every stage. From refusing to turn on utilities to deliberately delaying HUDs etc. Altisource made it difficult for them to obtain loans and increased costs as their loan locks expired. Altisource had designed their Asset Management process to benefit only certain types of buyers at the cost of Ocwen's investors' interests.

In my role as a Senior Associate - Asset Resolution, I tried to prevent foreclosures. I firmly believed that some managers at HUBZU and AAMC shared the same view. However, Altisource had other designs. They made it difficult at every stage. They came up with new strategies to kill short sales and other loss mitigation efforts. Initially I thought it was employee inefficiency but they continued even after being highlighted. In fact they began to sequentially transfer my responsibilities to a "more cooperative" individual. I saw directly how people were being pushed towards foreclosure.

I believed that investors did not benefit from foreclosures and that short sales and other loss mitigation options were more beneficial to investors. I believed that Ocwen and Altisource should act in good faith and work towards accomplishing what was more beneficial to its investors and customers. Ocwen-Altisource acted arbitrarily and against the interests of investors at every stage of the loan servicing and REO process. 

I am thankful that I was there, I could help many people. I will continue to help people and will create awareness about Ocwen-Altisource's business practices that contribute to an economy that hurts humans, animals and nature. We cannot be happy by making others suffer.

It's interesting that Altisource has changed their name in our MLS to "Real Home Services and Solutions".  They currently show 303 properties (most of which are either sold or cancelled) with 2 currently Active.  The same Broker / Agent has all of these REO listings and his e-mail address of record is an "Altisource" e-mail address.

This came out yesterday regarding the $2 Billion settlement by OCWEN.  If they agreed to $2Billion, the actual damages were likely 10 times as much !


Thom, RHSS is their Brokerage Arm here and based in Atlanta, the same agent that is hundreds of miles away puts the property in MLS with HUBZU language



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