WEST PALM BEACH, Fla., Nov. 17, 2015 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) and the NAACP Maryland State Conference hosted a "Help & Hope for Homeowners" event in Upper Marlboro, MD on Saturday, November 14, to offer struggling Maryland homeowners the opportunity to receive in-person, individualized advice, and mortgage solutions to help them remain in their homes.
Event attendees received one-on-one support from Ocwen Home Retention Agents, who worked with approximately 325 borrowers to make their mortgage payments more manageable and help avoid foreclosure. Homeowners also met with the U.S. Department of Housing and Urban Development (HUD)-approved financial counselors for additional financial and mortgage-related assistance.
This year, Ocwen and the NAACP have met with approximately 800 Ocwen borrowers in four states (Illinois, Florida, New York, and Maryland) through the “Help & Hope for Homeowners” event series. Since 2008, Ocwen has completed more than 520,000 loan modifications, many of which included a principal reduction for borrowers whose mortgage exceeded the current value of the home.
"It is important to recognize that while some have recovered from the housing crisis, many families, especially in low-income communities, are still struggling to keep their homes. Saturday’s turnout confirms that fact," explained Edsel Brown, Jr., NAACP Maryland State Conference Economic Development Chair. "The NAACP is pleased that Ocwen is working with us on the local level to offer borrowers the opportunity to meet with their experienced home retention agents and HUD counselors face-to-face to explore modification options that can help save their homes."
"Both Ocwen and the NAACP are committed to helping borrowers have every opportunity to remain in their homes,” commented Jill Showell, Senior Vice President of Government and Community Relations at Ocwen. “Co-hosting these events with the NAACP, a trusted resource in the community, adds tremendous value and ensures higher participation rates. The numbers speak for themselves.”
Homeowners who attended the event and met with HUD-certified counselors received 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.
For details about the "Help & Hope for Homeowners" event series and other efforts Ocwen is making in its communities, please visit www.OcwenCares.com. Homeowners who were unable to attend but would like to learn more can call the NAACP-dedicated hotline at (855) 459-2514.
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 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).
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Source:Ocwen Financial Corp.