Ocwen News

"Freddie Looks to Third-Party Servicers"

by Paul Jackson

Ocwen Financial is one of the servicers Freddie Mac has selected for the pilot, the GSE said; the subprime servicer has made headlines in recent months for comparatively heavy loan modification activity among the loans it services. Ocwen will deploy teams of specially trained counselors to handle Freddie Mac’s delinquent high risk mortgages in order to minimize telephone wait times, put borrowers in touch with live counselors faster, and implement the latest Freddie Mac foreclosure reduction policies more quickly, according to a press statement.

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