Ocwen Financial Corporation Reviews
About Ocwen Financial Corporation
Ocwen Financial Corporation is a mortgage servicer that claims helping homeowners is “what they do,” with a main goal of helping their mortgage holders keep their homes through foreclosure prevention.
A mortgage servicer is not your mortgage lender, but rather the financial institution that manages your mortgage – accepts your payments, calculates the variable interest rate on adjustable loans, and, most importantly in the current real estate climate, they work with you on modifying your loan or managing a possible foreclosure.
This company works not only with private residential mortgages, but also commercial companies, providing a wide array of servicing options.
Ocwen Financial claims to be the industry leader in servicing high risk loans, with over 20 years of experience and $150 million in research and development put toward creating state of the art proprietary servicing systems.
This research and development has included work in behavioral sciences, which they say has given them the ability to better understand how to approach their customers who have complains and misgivings, and deal with them in these difficult circumstances.
Ocwen Financial Corporation says that by improving what is offered to their mortgage holders and how it is offered, they have been able to increase borrower acceptance of and compliance with loan resolutions.
Their website says that third party independent studies have shown that they “cure” more loans and keep more borrowers current than any other servicer in the industry, and although they modify loans at rates far above industry norms, they have a re-fault rate among the lowest, along with pre-foreclosure resolution rates of 70% or more.
In addition, they also promise to offer their clients the best possible technological interfaces with their company, so that their responses to problems are as fast and efficient as possible.
If you have any experience with this company, please leave your Ocwen Financial Corporation reviews below.