Ocwen Hosts Seventh Annual Housing Advocacy and Policy Forum
May 18 2016 - 1:00PM
Ocwen Financial Corporation (NYSE:OCN), a leading financial
services holding company, hosted its seventh annual Housing
Advocacy and Policy Forum on Wednesday, May 18, 2016 in Washington,
D.C. The day-long event brought together Ocwen leadership,
government agency officials, and representatives from housing
nonprofits to share insights and explore solutions to challenges
that continue to exist in the aftermath of the nation’s housing
crisis, including access to credit and community
stabilization.
Ron Faris, President and CEO of Ocwen, and Phyllis Caldwell,
Chair of Ocwen’s Board of Directors, updated attendees on corporate
developments, including proactive new leadership under a largely
new Board of Directors. “Major investments in technology, risk
management and compliance have been instituted and have begun to
show tangible results,” stated Ms. Caldwell. “These investments lay
the foundation to better serve our 1.5 million customers and to
aggressively pursue our new vision for growth through asset
generation, operational and service excellence, and continuous cost
improvements to return the company to profitability.”
Access to affordable mortgage credit continues to dominate
policy discussions across the country. Panelists Barry Zigas, from
the Consumer Federation of America, Danny Gardner, from Freddie
Mac, and Gerron Levi, representing the National Community
Reinvestment Coalition, participated in a panel discussion on the
current state of homeownership. The discussion focused on market
dynamics that prevent families from achieving homeownership and
strategies to ensure that qualified borrowers are not excluded from
the housing market.
The second panel covered the evolving landscape of loss
mitigation and community stabilization in a post-HAMP environment.
Participants Mark McArdle, Deputy Assistant Secretary at the U.S.
Department of the Treasury, Jean Mills, from the California Housing
Finance Agency, and Julia Gordon, from the National Community
Stabilization Trust, led a discussion on how to maximize Treasury’s
Hardest Hit Funds program to address neighborhood blight. The
panelists also shared insights on loss mitigation protocols that
are under consideration by industry stakeholders. These protocols
will represent the new industry standard once HAMP expires on
December 31, 2016.
“Everyone who attended this event shares a common goal of
expanding sustainable homeownership and deploying effective loss
mitigation solutions. By working together, and exchanging insights
and ideas, we can strengthen families, neighborhoods and the
housing market as a whole,” commented Julia Gordon, Executive Vice
President, National Community Stabilization Trust.
“While much of the country has moved on from the housing crisis,
many neighborhoods are still being impacted from the lingering
effects of foreclosure,” commented Jean Mills, Director of
Operations at Keep Your Home California. “KYHC offers constructive
solutions for homeowners and communities, however, these problems
cannot be solved by one organization alone. Ocwen’s event was about
listening and discussing how we can work together to address common
challenges and discuss solutions that can make a real difference in
the lives of homeowners.”
For more details on Ocwen’s homeowner outreach efforts, please
visit www.OcwenCares.com.
About Ocwen Financial CorporationOcwen
Financial Corporation is a financial services holding company
which, through its subsidiaries, originates and services loans. We
are headquartered in West Palm Beach, Florida, with offices
throughout the United States and in the U.S. Virgin Islands and
operations in India and the Philippines. We have been serving our
customers since 1988. We may post information that is important to
investors on our website (www.Ocwen.com).
FOR FURTHER INFORMATION CONTACT
Emily Kiggins
ekiggins@levick.com
202 -973-5312
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