Ocwen Failed to communicate approval until after approval expiration?

Has anyone else had a situation with Ocwen where they were told that an approval had expired, but were never told that the file was approved to start with?  

In November we were told that the investor wanted far more than the contract price.  We provided the items the Ocwen rep told us they needed to dispute the inflated value we were told the investor needed.   We provided these items repeatedly via fax and email.  We updated the HUD several times per their request.  We found out in January via a forwarded e-mail from an Ocwen rep that our "approval" had "expired."  It was asking if we just wanted to extend it because they did not understand why we were disputing the value when we were saying it was worth what had already been approved. 

This happened despite thorough and regular follow up.  In mid-January, when that e-mail was forwarded to us,  and we questioned it, we were told that the approval expired the first week in January.  This email was forwarded by the same guy that had us disputing the file.  When I questioned him he said that he did not know it was approved either.  I asked him how he could NOT know the file was approved as we had been communicating regularly.  He told me that it doesn't work like that.  No one could tell us where an approval letter was sent or why they continued to ask for stuff.  The whole time the India service center was telling us that the file was still "under review" even after it came out that there had been an approval.

For the past two weeks I have been trying to get an extension to this approval that we never saw.  TX claims to be working to try to help us get that.  India claims it is still under review and they are waiting on a valuation. When you call in, the reps just say that it is under review.

I've seen a lot with short sales, but I think this is probably the craziest thing I've seen.

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Replies to This Discussion

Never had that happen and I work a lot of Owen files.  Typically they are pretty good at sending the approval letter immediately via email (check spam mail)  and regular mail.  My experience has been that Ocwen approves files in a decent time frame. But if that approval expires you would have to start the process all over again as Ocwen does not do extensions, and the 2nd time around for me is always a lot longer to get approved than the first time.  You will hear a lot of "the file is in review, to check back in 7 -10 days" from Ocwen in India. And those 7-10 days turn into months!  I would call and escalate, email the escalation team every 3-4 days.  I would get calls back from supervisors and they would promise to get things done but nothing seemed to get the file to move quicker.  My advice is to move on to the next file your working on while that one is "in review". Eventually you will get the file approved again and will close.  Good luck. 

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