|News from NHC's family of members|
by Radiah Shabazz, National Housing Conference
NHC Leadership Circle member Ocwen Financial Corporation recently announced that it has renewed its partnership with the NAACP for its 2016 Help & Hope for Homeowners borrower outreach events. The events offer struggling borrowers the opportunity to receive in-person, individualized mortgage counseling that helps them better afford and maintain their homes. Four borrower outreach events are scheduled to be held in Florida, New Jersey, Texas and Washington.
During the events, homeowners have the opportunity to meet with Ocwen Home Retention Agents and HUD-approved financial counselors to learn about loan modification programs, including principal reductions, which can help make their homes more affordable. In the program’s first year, Ocwen and the NAACP met with approximately 800 Ocwen borrowers in four states, where many of these attendees were able to receive a loan modification.
“From an idea born during a meeting in 2013, to the success it has become today, the Help & Hope for Homeowners borrower outreach events are making a significant difference, not just for individual borrowers, but for communities throughout the country,” Jill Showell, Ocwen’s Senior Vice President of Government and Community Relations, said in a press release. “Exploring innovative methods of borrower outreach with the NAACP has yielded strong results, and we look forward to leveraging this success in 2016.”
Ocwen has completed more than 627,000 loan modifications to date, many of which included a principal reduction for borrowers whose mortgage exceeds the current value of their home. Learn more about the Help & Hope for Homeowners events here.