*FAQ - Liens

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Q: How long will it take the lien to be released from my property after I have paid off my loan?
A: We comply with state requirements for lien release/satisfaction. However, the actual recording of the lien release/satisfaction is performed by the county, in which the secured property resides. Upon receipt of the lien release/satisfaction document, most counties record the document and return it to Ocwen within 45 to 60 days. However, some counties can take from 6 to 9 months.

Q: What is subordination?
A: When a borrower refinances their 1st lien mortgage loan a new mortgage is created. The first mortgage company asks junior lien holders to remain in a subordinate position so that when the new mortgage is recorded it remains in first lien position. By executing a Subordination Agreement, a junior lien holder agrees to stay in a lower lien position (for example, a second lien).

Q: How do I obtain a Subordination Agreement on my second lien with Ocwen so that I can refinance my first mortgage?
A: Ocwen's Subordination Department will provide a subordination requirements list to you or your mortgage company. If the proposed refinance meets all criteria, and a non-refundable fee is paid, a Subordination Agreement will be executed. To request subordination information in writing, send your request to Ocwen, Attention: Subordination Department, 950 West 13th Street, Bay 3, Riviera Beach, Florida 33404 or fax your request to (561) 682-8445. Please be sure to include your loan number. If you would like to speak to someone regarding the subordination process, you may leave a voice mail message at (561) 682-8835 and your call will be returned within 48 hours. The subordination process will take 2-3 weeks after the requirements are met.

For questions regarding the Satisfaction of your loan, you may call (561) 682-8745 and your call will be returned within 48 hours.

Q: Why does your Subordination Department require certified funds for the processing fee?
A: Ocwen's Subordination Department will provide a requirements list to you or your mortgage company. If the proposed refinance meets all criteria, and a non-refundable fee is paid, a Subordination Agreement will be executed. Please call Customer Service to initiate this process.