Loss Mitigation

Ocwen has been a HAMP participant since the program’s initiation in 2009 as well as an early adopter of Treasury's streamline modification program in January 2016.

Ocwen Financial is planning more outreach events to help borrowers avoid foreclosure.

HUD's Distressed Asset Stabilization Program has been heavily criticized by housing advocacy groups and activists. What changes did the Department make to the program with the goal of achieving the best outcomes for borrowers?

The report from the Center for American Progress makes recommendations for the FHA's distressed loan sale program to apply stronger standards in order to achieve the best outcomes for the borrowers and their communities.

How many non-foreclosure solutions (modifications, deeds-in-lieu, short sales, and other workout plans) has the industry completed since 2007?

What solutions have Fannie Mae and Freddie Mac offered to HAMP borrowers facing higher monthly payments due to resets?

Funding from the Congressionally-funded National Foreclosure Mitigation Counseling (NFMC) program provides counseling for at-risk homeowners who are working with their servicers to avoid foreclosure.

With Treasury recently announcing the allocation of the final $2 billion in Hardest Hit Fund money and HAMP set to expire at the end of the year, servicers are ramping up their efforts to reach at-risk borrowers.

There has been a growing trend in the number and type of foreclosure prevention actions completed by the GSEs since the start of the conservatorships.

Elyse Cherry, CEO of Boston Community Capital, spoke with DS News about concerns surrounding the FHFA's recently-announced principal reduction program, and what the Agency should do about it.