Ocwen and NAACP Renew “Help & Hope for Homeowners” Borrower Outreach Events for 2016
April 05 2016 - 7:45AM
Ocwen Financial Corporation (NYSE:OCN) and the NAACP announced
today that they have renewed their successful “Help & Hope for
Homeowners” borrower outreach events for 2016. “Help & Hope for
Homeowners” offers struggling borrowers the opportunity to receive
in-person, individualized mortgage counseling to help them better
afford and remain in their homes. Ocwen and the NAACP have agreed
to hold four borrower outreach events this year, including events
in Florida, New Jersey, Texas, and Washington. Many communities in
these states continue to be impacted from the residual effects of
the housing crisis. The first event will be held in Delray Beach,
Florida in June 2016.
“Help & Hope for Homeowners” events offer homeowners the
opportunity to meet with Ocwen Home Retention Agents and U.S.
Department of Housing and Urban Development (HUD)-approved
financial counselors to learn about loan modification programs,
including principal reductions, which can help make their homes
more affordable. In the program’s first year, Ocwen and the NAACP
met with approximately 800 Ocwen borrowers in four states, with
event turnout exceeding expectations. Many of these attendees were
able to receive a loan modification as a result of the guidance
they received at the event.
"The Ocwen and the NAACP borrower outreach events are a great
example of how the mortgage industry and nonprofits can work
together to make a real difference in people’s lives,” commented
Charles R. Lowery Jr., Interim Senior Director/Director of Fair
Lending and Inclusion at the NAACP Economic Department. “After
meeting with borrowers across the U.S. in 2015, we confirmed that
the housing crisis is not over for many borrowers, especially those
in African-American communities and communities of color. These
borrowers are still in need of help from trusted resources. We are
proud that Ocwen and the NAACP’s collaborative efforts have become
a leading resource for many that are still in need of an effective
solution.”
Homeowners who attend an event and meet with a HUD-certified
counselor will receive the following:
- Assistance with preparing their Request for Mortgage Assistance
(RMA) package;
- Information on borrower eligibility for state and federal
foreclosure assistance programs; and
- Counsel on possible mortgage solutions tailored to fit their
unique situations.
“From an idea born during a meeting in 2013, to the success it
has become today, the Help & Hope for Homeowners borrower
outreach events are making a significant difference, not just for
individual borrowers, but for communities throughout the country,”
said Jill Showell, Senior Vice President of Government and
Community Relations at Ocwen. “Exploring innovative methods of
borrower outreach with the NAACP has yielded strong results, and we
look forward to leveraging this success in 2016.”
Ocwen has completed more than 627,000 loan modifications to
date, many of which included a principal reduction for borrowers
whose mortgage exceeded the current value of the home.
For additional details about the "Help & Hope for
Homeowners" event series and Ocwen’s other community outreach
efforts, please visit www.OcwenCares.com/Events. Homeowners who
would like to learn more can also call the NAACP-dedicated hotline
at (855) 459-2514.
About Ocwen Financial CorporationOcwen
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 West Palm
Beach, Florida, with offices throughout the United States and
support operations in India and the Philippines. Utilizing
proprietary technology, global infrastructure and superior training
and processes, Ocwen provides solutions that help homeowners and
make our clients’ loans worth more. Ocwen may post information that
is important to investors on its website (www.Ocwen.com).
For Further Information Contact:
Emily Kiggins
T: (203) 973-5312
E: ekiggins@levick.com
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