In 1995, Ocwen entered commercial loan servicing by purchasing over $4.0 billion in non-performing loans and REO conducting the Special Servicing of that portfolio in house. We discovered that servicing practices varied widely subject to the experience of the individual working on the account. To standardize practices and maintain high quality standards, Ocwen applied scientific management and later Six Sigma techniques to identify best practices and develop training and procedures to implement those practices.
In 2002 Ocwen adopted the global delivery model and today operates from several global servicing centers. This allowed Ocwen to reduce costs, improve service and turn around times while gaining access to a very broad and deep labor pool. Ocwen developed personality profiling and cognitive testing techniques in order to recruit, select and train the right people to service your loans.
Today, Ocwen has some of the most highly trained and experienced asset managers in the industry. Over the years Ocwen has emerged as an industry expert in creating maximum value from non-performing loans and REO and is experienced at handling even the most difficult or complex CMBS and whole loan non-performing loans and REO properties. Our innovative workout and REO management practices have helped us develop the ability analyze alternative resolution strategies and recommend the best approach to our clients.