News & Views
Ocwen in the News
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May 8, 2009 |
"Ocwen, Seeking Volume, Explores FHA Servicing Buy"American BankerOcwen Financial Corp., best known for servicing subprime mortgages, is looking to buy servicing rights for Federal Housing Administration loans, underscoring the pivotal role the agency has come to play in the industry… In February, Freddie Mac hired Ocwen to service 5,000 low-documentation loans that were at least 60 days delinquent. “To the extent they’re doing satisfactory work with Freddie Mac, that would be a significant advantage in helping them work with FHA,” [Robert] Napoli [at Piper Jaffray & Co.] said. |
