Ocwen and the National Asian American Coalition to Hold Borrower Outreach Event in Las Vegas
July 6, 2017
Mortgage servicer and non-profit team up to assist struggling homeowners
Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, will join the National Asian American Coalition (NAAC), a HUD-approved non-profit that promotes sustainable homeownership, at an outreach event for borrowers in Las Vegas, Nevada on Saturday, July 8, 2017. The event is the latest in Ocwen’s “Summer of Help & Hope” initiative, a series of events designed to help struggling homeowners explore options to better afford their homes and avoid foreclosure.
The event will be held from 9am – 2pm Pacific Time at St. Sharbel Maronite Catholic Church located at 10325 Rancho Destino Road in Las Vegas. Ocwen customers who are behind on their mortgage payments or struggling to meet their monthly mortgage obligations will have the opportunity to meet one-on-one with Ocwen Home Retention Agents and NAAC housing counselors to discuss loan modification options. Both admission and parking are free for all attendees.
“At Ocwen, we are committed to helping families remain in their homes whenever possible,” said Jill Showell, Senior Vice President of Government and Community Relations at Ocwen. “NAAC shares our commitment to empowering people in underserved communities through homeownership, so this collaboration is a natural fit. We look forward to meeting some of our borrowers face-to-face in Las Vegas and working together to make their homes more affordable.”
Ocwen currently services more than 16,000 loans in Nevada. From January 1, 2008 through March 31, 2017, Ocwen has provided borrowers in the state more than 10,000 loan modifications. Approximately 40 percent of these modifications included principal forgiveness totaling more than $312.5 million, or on average $77,500 per loan. These modifications greatly benefited homeowners who owed more on their mortgage than their home was worth. According to May 2017 data from RealtyTrac, an organization which provides data on real estate trends, one in every 988 homes in Las Vegas is in foreclosure, well above the U.S. average of one in every 1,620.
“Homeowners in the Las Vegas area have been particularly hard hit by the foreclosure crisis,” said Faith Bautista, President and CEO of NAAC. “Many borrowers don’t know where to turn for advice and have questions about their options. Working alongside Ocwen, NAAC looks forward to providing answers and helping our neighbors stay in their homes.”