Ocwen: Customized Loan Mods Successful

Posted by Orb Staff on December 12, 2008 No Comments
Categories : Mortgage Servicing

Ocwen Financial Corp., a servicer of subprime mortgages, says it has achieved success with its program designed to modify troubled loans in a way that avoids re-default, keeps people in their homes and keeps the loans performing for investors.

Ocwen takes a loan-by-loan approach and uses proprietary, scalable technology and analytics in its modification program. At the six-month mark, the 60-day delinquency rate on Ocwen-modified loans stands at 24.6%.

Source: Ocwen Financial Corp.

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