Ocwen is the industry leader in servicing high-risk loans. Ocwen works with customers in a variety of ways to make their loans worth more, including purchasing of mortgage servicing rights, sub-servicing, special servicing and stand-by servicing. We can also support companies that wish to utilize our best-in-class technology and know-how to support improvements in their own operations.
Independent third-party studies consistently show that Ocwen cures more loans and keeps more borrowers current than anyone in the industry. As an indication, Ocwen has achieved pre-foreclosure resolution rates of 70% or more and consistent best-in-class HAMP performance. While Ocwen modifies loans at rates far above industry norms, our re-default rates are among the lowest. Ocwen is widely recognized in the national media and by consumer advocacy groups as the industry leader in responsible home retention through foreclosure prevention. For example, Ocwen’s shared-appreciation modification is just the latest example of the kind of innovations that have drawn strong support and interest from community groups, the federal governments and large servicers.
Ocwen’s exceptional performance is a result of its state-of-the-art proprietary servicing systems built with over 20-years of experience and $150 million of research and development. For example, Ocwen utilizes behavioral science principles and advanced optimization analytics to drive its borrower dialogues and Net Present Value maximizing loan resolutions. By improving both what is offered and how it is offered, Ocwen increases borrower acceptance of and compliance with loan resolutions. Moreover, Ocwen’s technology is easily customized to rapidly support experimentation or alternative investor-driven mitigation strategies.
- Heather D.