ATLANTA, Sept. 28, 2015 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) and the NAACP New York State Conference hosted a "Help & Hope for Homeowners" event in Long Island, NY on Saturday, September 26, 2015 to offer struggling New York 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 more than 220 borrowers to make their mortgage payments more manageable and to help avoid foreclosure. 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.
Homeowners also met with the U.S. Department of Housing and Urban Development (HUD)-approved financial counselors for additional financial and mortgage-related assistance.
"As we saw on Saturday, the housing crisis is not over for many families in New York, and for that matter, across the U.S.," explained Garry Anthony Johnson, NAACP New York State Conference Economic Development Chair. "The NAACP is pleased to work with Ocwen to offer valuable advice and solutions to homeowners who are struggling, and it was very satisfying to see so many homeowners have their questions answered and hopes renewed as a result of this event."
"Both Ocwen and the NAACP are dedicated to helping struggling borrowers, and that often means reaching them at the local level," Jill Showell, Senior Vice President of Government and Community Relations at Ocwen, stated. "For many families, their wealth is tied to their home. That is why these events are so important – they give borrowers the opportunity to talk to our agents face-to-face to explore modification options that can help them save their home."
Homeowners who attended the event and met with HUD-certified counselors received information and assistance with 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.
This event is part of a series co-hosted by the NAACP and Ocwen to offer assistance to homeowners in U.S. cities where the economic recovery has been uneven. Future events are planned, including an upcoming event in Upper Marlboro, Maryland on November 14, 2015. Details of the next "Help & Hope for Homeowners" event will follow. 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 Atlanta, Georgia, 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).