ATLANTA, April 20, 2015 /PRNewswire/ -- Ocwen
Financial Corporation (NYSE: OCN), a leading financial services
holding company, hosted its sixth Annual Housing Advocacy and
Policy Forum on Thursday, April 16,
2015 in Washington D.C. Ocwen's 2015 Forum brought
together key stakeholders to share their insight and work together
on important issues affecting today's housing industry. Attendees
of the Forum included senior officials from housing advocacy and
policy groups, the mortgage industry, and federal government
agencies.
Ocwen's President and CEO, Ronald
Faris, provided the group with an update on Ocwen and the
steps the company continues to take to assist borrowers. Attendees
at the Forum also heard from two of Ocwen's newest Board Members,
Phyllis Caldwell, who was a senior
official at the U.S. Department of the Treasury overseeing the
Department's HAMP program, and Dr. DeForest Soaries, Jr., who
served under President George W.
Bush and was a former Secretary of State in New Jersey.
"More than five years after the housing crisis, many homeowners
are still struggling to meet their mortgage payments and stay in
their homes. Meanwhile, many qualified borrowers want to enter the
market and become homeowners. But they are facing a very
challenging credit market," commented Ronald Faris, President and CEO of Ocwen. "Ocwen
believes that the best way to make a real difference in the lives
of homeowners and their communities is by working together to find
meaningful solutions for all borrowers. That's why we are so
pleased to bring together leading regulators, policymakers,
non-profit housing counselors, and consumer advocacy agencies from
across the country to share information in an attempt to find
workable solutions."
During the event, attendees also heard an economic update from
Frank Nothaft, Chief Economist at
CoreLogic, on housing industry trends. The event included
roundtable discussions about programs related to servicing and loan
modifications, the current state of homeownership and the barriers
that are keeping qualified homeowners from entering the housing
market.
Panelists during these roundtable discussions included
representatives from:
- U.S. Department of the Treasury
- CoreLogic
- Consumer Federation of America
- Center for American Progress
- Mortgage Bankers Association
- Ocwen Financial Corporation
- Ocwen Board of Directors
"While we are still recovering from the housing crisis, there
are already lessons that can be learned. One of those lessons is
the importance of financial and mortgage counseling," Ms. Caldwell
said. "It's clear that borrowers who worked with housing counselors
throughout the process of buying a home and paying their mortgage
were not only less likely to have been taken advantage of by
predatory lenders, but they were also more likely to raise their
hand for help when there was a problem. We cannot underestimate the
value of financial counseling. And I'm proud to say that Ocwen
understands that and has made its partnership with community
organizations and counselors a priority."
"This event was yet another testament to the continued
commitment by Ocwen to bring industry, community groups, housing
organizations, and regulators together to share information and
collaborate on solutions to the ongoing housing crisis," said Rev.
Soaries. "Before joining Ocwen's Board of Directors, I knew from
experience that Ocwen understood that homeowners and their
communities are better off with a modification than foreclosure.
But until I joined the Board, I had never met people who care
as much as I do about the members of my church and community."
About Ocwen Financial Corporation
Ocwen Financial
Corporation is a financial services holding company which, through
its subsidiaries, is engaged in the servicing and origination of
mortgage loans. Ocwen is headquartered in Atlanta, Georgia, with offices throughout
the United States and support
operations in India and
the Philippines. Utilizing
proprietary technology, global infrastructure and world-class
training and processes, Ocwen provides solutions that help
homeowners and make our clients' loans worth more. Additional
information is available at www.Ocwen.com.
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SOURCE Ocwen Financial Corporation