Ocwen Financial Corp (NYSE:OCN) has joined hands with the NAACP and the NID with a view to helping borrowers in California. To achieve this the three organizations will hold an outreach event on February 25 in Los Angeles. This will be the third time that an event of this nature is being held to assist homeowners in the state of California.
During the event, clients of Ocwen who are unable or struggling to make payments on their mortgages will be given access to housing counselors from NID and Ocwen Home Retention Agents. Attendees of the event will also be assisted on how to prepare an application seeking assistance with mortgage payments.
Assistance on foreclosure
Those who will make it to the event will be also be provided with information on what they need to get foreclosure assistance from either the federal or state government. Attendees will also be counseled on the various mortgage solutions that are customized to suit their specific financial predicament. Additionally, attendees will also get to learn from the NID on what they need to do to get further education and counseling on housing.
Having started operations in 1988, an Ocwen executive admitted that their many years of experience and the many customers they have helped would benefit everyone who would attend the event.
“Ocwen is recognized as the industry leader in responsible home retention in California and throughout the United States. Since 2008, we have helped more than 91,000 California homeowners avoid foreclosure through loan modification programs,” Ocwen’s Senior Vice President of Government and Community Relations, Jill Showell, said.
Stronger communities
Showell added that both NAACP and NID shared in Ocwen’s belief that communities are made stronger through home ownership and that the three organizations were happy to be partnering to offer struggling borrowers relief. An executive from NID added that the goal of the event was to assist borrowers as they went about exploring options on loan modification with a view to ensuring they didn’t lose their homes.
In Tuesday’s trading session, shares of Ocwen Financial Corp jumped by 5.73% to close the day at $5.54.