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"380: No Map"

May 15, 2009
NPR Radio – This American Life

Ocwen agreed to talk to us, probably because they’re different from a lot of loan servicers in one important way: When you have trouble with your loan and call Ocwen, they might actually help you out. They modify a lot of mortgages. When a borrower can’t pay, 75% of the time they work out a deal that keeps them in their home. Ocwen figures out what the homeowner can afford to pay, then they try to rework the loan terms to match that number.

 

Please click here to go to this episode's page on This American Life's Website. Click on "Full Episode" on the left side, "Act One. The Mod Squad" begins at 9:55.