Ocwen in the News

“Ocwen Gets Little Credit for Helping Homeowners, Wall Street Report Says”

Fri, 06 Mar 2015 00:00:00 -0500

This publication discusses a Wall Street analyst report which claims Ocwen may not be getting enough credit from regulators and consumer protection agencies for keeping borrowers in their homes.

“Neighborhood Housing Services of New York City Teams Up with Ocwen Financial Corporation to Offer Aid to Struggling Homeowners — Housing Counselors Offer Financial Guidance and Mortgage Solutions”

Fri, 06 Mar 2015 00:00:00 -0500

This press release discusses Neighborhood Housing Services of New York City joining with Ocwen to provide aid and guidance to homeowners and housing counselor.

"Ocwen, Housing Advocates, Regulators Discuss Servicing Issues"

Fri, 03 May 2013 00:00:00 -0400

Ocwen hosted a roundtable to discuss ways to preserve homeownership and assist distressed borrowers in the evolving housing market with representatives from national and community-based housing advocacy groups, the mortgage industry and government and non-government agencies.

"Ohio Foreclosure Agency Honors Ocwen CEO"

Fri, 03 May 2013 00:00:00 -0400

Empowering and Strengthening Ohio's People (ESOP), a HUD-approved foreclosure prevention agency, presented Ocwen CEO Ronald M. Faris with the "Rooted in ESOP" award for Ocwen's efforts in helping homeowners obtain affordable mortgage modifications and for the company's Shared Appreciation Modification Program (SAM).

"Ocwen Shared Appreciation Program Slashes Average Mortgage by $75k+"

Wed, 29 Aug 2012 00:00:00 -0400

An article profiling Ocwen's shared appreciation modification program that details the successes it has had in the past year.

"Ohio Ranks Near Top of Underwater Mortgages"

Wed, 22 Aug 2012 00:00:00 -0400

An article on the recent push among Cleveland-area foreclosure prevention groups for mortgage servicers to adopt principal reduction programs similar to Ocwen's SAM program.

"In Ohio, a fresh approach to help struggling homeowners"

Thu, 19 Jan 2012 00:00:00 -0500

An article describing how Ocwen worked with ESOP (Empowering and Strengthening Ohio's People), a HUD-certified foreclosure-prevention counseling agency, to keep a homeowner in his home by enrolling him in Ocwen's principal reduction modification program.

Read the full article at The Christian Science Monitor.

"New approach to helping underwater homeowners"

Fri, 02 Dec 2011 00:00:00 -0500

A profile article on Ocwen highlighting the successes the company has had with the Shared Appreciation Modification (SAM) program, which allows homeowners to restore equity on their homes.

"Ocwen praised for 'bold' mortgage modifications"

Tue, 22 Nov 2011 00:00:00 -0500

In an address announcing that five million home loans have been modified nationally, HOPE NOW -- an industry-created group that includes loan servicers, investors and housing counselors -- praised Ocwen Financial Corporation's "bold" loan modification programs, including one that lowers the amount owed on an underwater loan.

"Housing Leaders Congregate to Seek Housing Market Solutions"

Mon, 10 Oct 2011 00:00:00 -0400

Ocwen hosted a roundtable entitled “America’s Housing Crisis: Solutions to the Changing Landscape” where representatives from grassroots and housing advocacy organizations engaged in discussions with officials from the U.S. Department of Treasury, the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Finance Agency (FHFA), Freddie Mac, Fannie Mae and HOPE NOW Alliance.

"New Mortgage Program Assists Borrowers and Investors"

Fri, 19 Aug 2011 00:00:00 -0400

Representatives from Moody's Investor Service discuss the unique features of Ocwen's Shared Appreciation Modication (SAM) program that help it resolve underwater loans in securitizations.

"Hundreds Seek Foreclosure Prevention Help in West Palm Beach: Mortgage Companies and Non-Profits Team Up to Help"

Fri, 19 Aug 2011 00:00:00 -0400

Representatives from Ocwen, including President and CEO Ron Faris, met with customers face-to-face to discuss mortgage modifications and other housing crisis solutions at a HOPE Now event in West Palm Beach..

"Ocwen's Novel Mods Could Improve Underwater Loan Resolutions in MBS"

Tue, 16 Aug 2011 00:00:00 -0400

Representatives from Moody's Investor Service discuss the unique features of Ocwen's Shared Appreciation Modication (SAM) program that help it resolve underwater loans in securitizations.

"Ocwen Financial Offers a Lifeline to Underwater Borrowers"

Fri, 05 Aug 2011 00:00:00 -0400

Ocwen’s expansion of its Shared Appreciation Modification (SAM) program will encourage eligible homeowners borrowers by allowing them to restore equity in their homes.

"Focus on Foreclosure"

Fri, 29 Jul 2011 00:00:00 -0400

NBC Phoenix highlights the potential of Ocwen's Shared Appreciation Modification (SAM) program to help homeowners prevent foreclosure and serve investors.

"Ocwen's Edge"

Wed, 01 Jun 2011 00:00:00 -0400

A profile on Ocwen that highlights its work with community groups to help homeowners, outstanding HAMP performance and how the company has grown to become a leader in the loan servicing space.

"In Honor of Our Own"

Fri, 21 Jan 2011 00:00:00 -0500

Jamie Holland, Manager of Community and Regulatory Relations for Ocwen Financial, traveled from West Palm Beach, Florida to honor Inez Killingsworth, ESOP's Founder and Board President. She said “Ron Faris (Ocwen CEO) believes that Inez and the education that she has given him is responsible for making him into a better leader and making Ocwen Financial a better mortgage servicer.”

"Foreclosure Is Not an Option"

Mon, 06 Dec 2010 00:00:00 -0500

A commentary on how a community organization, Empowering and Strengthening Ohio’s People (ESOP), has worked with mortgage servicers like Ocwen to keep homeowners in their homes.

"Ocwen's HAMP Trials Adhere to 3-Month Timeframe"

Thu, 24 Jun 2010 00:00:00 -0400

Ocwen earns high marks in the U.S. Treasury's HAMP report card.

"Barclays Sells HomEq to Ocwen Loan for $1.3 Bln"

Fri, 28 May 2010 00:00:00 -0400

Barclays sells HomEq to Ocwen.

"Ocwen Says HAMP Success Due To Up-Front Doc Collection, Technology"

Wed, 19 May 2010 00:00:00 -0400

Ocwen's HAMP success is due, at least partly, to its practice of requiring verified documentation from borrowers before putting them in trial modifications.

"Borrowers Flunking Out of Trial Mortgage Modifications"

Mon, 17 May 2010 00:00:00 -0400

Ocwen and HomEq lead the way with 83% of trial modifications converted.

"Banks Try Being Nicer to Troubled Borrowers"

Sat, 24 Apr 2010 00:00:00 -0400

Ocwen helps connect struggling homeowners with food banks, employment services and other social services.

"Ocwen Sees Success in Fight Against Foreclosure by Using MKDirect"

Mon, 12 Apr 2010 00:00:00 -0400

Ocwen has seen marked success in its fight against foreclosure after just three months of using MKDirect.

"Bank of America to Start Reducing Mortgage Principal in Loan Modifications"

Wed, 24 Mar 2010 00:00:00 -0400

While Bank of America is the nation's largest lender to systematically reduce principal, it is not the first. Ocwen has been reducing principal before the Obama administration's Making Home Affordable program began.

"Modifications coming to the Home Affordable Modification Plan"

Wed, 10 Mar 2010 00:00:00 -0500

Ocwen is potentially leading the way by modifying the principal when they believe it is necessary.

"Principal reductions will save mortgages, Ocwen chief tells Congress"

Fri, 05 Mar 2010 00:00:00 -0500

Ocwen President Ron Faris testified to Congress that more principal reductions are needed when troubled home loans are modified.

"Ocwen Backs Principal Reductions, Mandatory Outsourcing to Improve HAMP"

Wed, 03 Mar 2010 00:00:00 -0500

Ocwen has one of the industry's best track records for modifying loans under HAMP.

"Ocwen Financial President Ron Faris: Trying to make mortgages work"

Fri, 26 Feb 2010 00:00:00 -0500

Profile of Ron Faris, president of Ocwen Financial Corp.

"Mods Make Sense"

Thu, 25 Feb 2010 00:00:00 -0500

Paul A. Koches, Executive Vice President and General Counsel at Ocwen Financial Corp., writes an article in DSnews about why loan modifications are better business for servicers than foreclosures.

"Solving the Mortgage Mess By Modifying Loans - and Borrower Behavior"

Tue, 02 Feb 2010 00:00:00 -0500

Jean Chatzky looks into the reasons why Ocwen has had great success where others have had minimal luck.

"West Palm Beach's Ocwen Financial Leads in Home Loan Fixes"

Sun, 31 Jan 2010 00:00:00 -0500

While the Obama administration's foreclosure rescue program is floundering with a minimal number of homeowners winning permanent mortgage relief, Ocwen's success rate is praised even by critics of the federal plan.

"Gov't eases paperwork for loan help program"

Thu, 28 Jan 2010 00:00:00 -0500

Government officials change paperwork policy, citing Ocwen's success.

"Fixing Sub-Prime Mortgages"

Thu, 28 Jan 2010 00:00:00 -0500

William Erbey, Ocwen's CEO, discusses the company's success in keeping homeowners out of foreclosure by cutting mortgage principal.

"Treasury Weighs Fixes to Foreclosures Program"

Thu, 21 Jan 2010 00:00:00 -0500

Highlights Treasury report on how Ocwen had turned about 40 percent of its trial modifications into permanent arrangements, more than ten times the rate of the big banks.

"BofA, Citi Among Servicers Least Successful in Turning HAMP Trial Modifications Permanent"

Wed, 16 Dec 2009 00:00:00 -0500

Out of all servicers, Ocwen leads in completing HAMP modifications.

"HAMP Homeowners Stuck in Limbo"

Thu, 10 Dec 2009 00:00:00 -0500

Ocwen has converted 89% of borrowers who were on temporary modifications in August to permanent mods by November.

"One Company Responsible For Nearly Half Of All Permanent Mortgage Modifications"

Tue, 13 Oct 2009 00:00:00 -0400

Almost half of the permanent home loan modifications under the government's plan to help troubled borrowers come from Ocwen, who handles less than three percent of the eligible mortgages.

"Ocwen and Housing Advocacy Groups Collaborate on Foreclosure Prevention"

Tue, 06 Oct 2009 00:00:00 -0400

Mortgage servicer Ocwen Financial Corporation convened more than 30 representatives of grassroots and national housing advocacy organizations in Washington D.C. to share success stories, new ideas, and insights related to preventing foreclosures and helping homeowners.

"Modifying Mortgages Can Be Tricky"

Mon, 01 Jun 2009 00:00:00 -0400

Ocwen was able to cut interest rates and lower payments for a woman living in Miami Gardens, Florida.

"Ocwen Launches Borrower Services Site"

Sat, 23 May 2009 00:00:00 -0400

Ocwen has launced a new Web site to connect mortgage borrowers with community groups and government agencies that provide assistance for distressed homeowners.

"Forestalling Foreclosure"

Wed, 20 May 2009 00:00:00 -0400

Ocwen has an approach to modifying delinquent loans that could slow the wave of foreclosures undermining the economy.

"Mortgage Servicers Try the Softer Touch"

Sun, 17 May 2009 00:00:00 -0400

Ocwen has hired psychologists to train employees to work with borrowers needing to change the terms of their loans. Ocwen lets distressed customers know they can be among those whose home has been saved.

"Servicers as Originators"

Sat, 16 May 2009 00:00:00 -0400

The Home Affordable Modication Program (HAMP) has made loan modifications more prevalent, causing servicers to act more like originators.

"380: No Map"

Fri, 15 May 2009 00:00:00 -0400

Reporter Chris Arnold visits a foreclosure prevention event to find out the painful truth about the mortgage crisis and how Ocwen has helped borrowers stay in their homes.

"More Homeowners Getting Aid, but Demand Keeps Rising"

Thu, 14 May 2009 00:00:00 -0400

Ocwen has offered about 35,000 modifications under the Obama administration’s foreclosure prevention plan. The administration’s plan has outperformed the government’s previous attempts.

"Ocwen Says Completes 45 Percent of Mortgage Modifications"

Mon, 11 May 2009 00:00:00 -0400

Ocwen Financial Corp completed 44.6 percent of all of the permanent mortgage modifications done by the industry under the Treasury Department's Home Affordable Modification Program.

"Obama to Test Home Loan Do-Overs: Foreclosure Prevention Effort Starting Wednesday Relies on Modifying Loans Based on Borrowers’ Ability to Pay. Will This Effort Work Where Others Have Failed?"

Sun, 05 Apr 2009 00:00:00 -0400

Ocwen has attained a redefault rate that is less than half the industry average by focusing on affordability.

"Former HUD Asst. Secretary Joins Ocwen"

Thu, 02 Apr 2009 00:00:00 -0400

Steven B. Nesmith has joined Ocwen as Senior Vice President and Assistant General Counsel for Strategic and Government Initiatives.

"Ocwen, Seeking Volume, Explores FHA Servicing Buy"

Wed, 01 Apr 2009 00:00:00 -0400

Ocwen intends to purchase servicing rights for Federal Housing Administration loans. FHA borrowers tend to be more at-risk, and Ocwen believes its customized approach can help.

"Tarentum Man Close to Saving Property"

Thu, 05 Feb 2009 00:00:00 -0500

Ocwen steps up to help landowner in Tarentum, Pennsylvania, save his property from foreclosure.

"Freddie Looks to Third-Party Servicers"

Wed, 04 Feb 2009 00:00:00 -0500

Ocwen will deploy teams of specially trained counselors to handle Freddie Mac’s delinquent high risk mortgages to minimize telephone wait times, put borrowers in touch with live counselors faster and ensure faster implementation of the latest Freddie Mac foreclosure reduction policies.

"RPT-Freddie Mac Hires Servicers for High-Risk Mortgages"

Tue, 03 Feb 2009 00:00:00 -0500

Freddie Mac hired Ocwen to work on modifying a portfolio of loans that are at least sixty days delinquent.

"Freddie Mac Launches Plan for High-Risk Loans"

Tue, 03 Feb 2009 00:00:00 -0500

Freddie Mac chooses Ocwen to be a servicer for its pilot program to handle high-risk loans more effectively and allow more at-risk borrowers to stay in their homes.

"Freddie Mac Plans New Troubled Loan Strategy"

Tue, 03 Feb 2009 00:00:00 -0500

Freddie Mac has selected Ocwen to help run the Obama administrations pilot program to keep at-risk borrowers in their homes.

"Freddie Mac Launches Aid for High-Risk Loans"

Sat, 20 Dec 2008 00:00:00 -0500

Freddie Mac announced a pilot program on February 3, 2009, targeting 5,000 delinquent borrowers who have high-risk mortgages. Ocwen has been hired to assist with the program.

"Ocwen Boasts Loan Mod Success in Transition"

Fri, 19 Dec 2008 00:00:00 -0500

Ocwen has achieved more success with loan modifications than the industry-wide average, according to the Office of the Comptroller of the Currency. The success is largely due to Ocwen’s investment in technology and customized approach.

"Facing Foreclosure, Finding Solutions"

Thu, 06 Sep 2007 00:00:00 -0400

Ocwen explains steps distressed homeowners can take to avoid foreclosure and how Ocwen trains its employees to help customers stay in their homes.

"The blessing of shared appreciation."

An extensive look at shared appreciation modifications citing Ocwen's success using principal reductions to help underwater families stay in their homes.