Ohio Foreclosure Agency Honors Ocwen CEO

The president and CEO of ""Ocwen Financial Corporation"":http://www.ocwen.com/ was honored recently at an annual gala hosted by ""Empowering and Strengthening Ohio's People"":http://www.esop-cleveland.org/index.php?option=com_content&view=article&id=3&Itemid=8 (ESOP), a HUD-approved foreclosure prevention agency.

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CEO Ronald M. Faris received the ""Rooted in ESOP"" award to recognize Ocwen's efforts in helping homeowners obtain affordable mortgage modifications and for the major servicer's innovative Shared Appreciation Modification Program (SAM). The program reduces principal to reflect the true market value of the home.

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""When Ocwen first approached ESOP, it was refreshing to find a company that was actively looking to be a partner in helping homeowners,"" said ESOP executive director Mark Seifert in a release. ""Ron is committed to seeing what is happening in our community and responding with real, sustainable solutions that benefit homeowners, neighborhoods and investors. It is an example to others in the industry that doing what's right for homeowners is good for business too.""

Faris also shared some words about the work of ESOP.

""These groups are playing a critically important role in addressing the mortgage crisis. Ocwen's approach to working with homeowners depends on collaboration with effective groups like ESOP. We rely on them, as do homeowners,"" said Faris.

The ESOP gala was held in Mayfield Heights, Ohio on October 18.

Ocwen provides residential and commercial loan servicing, special servicing and asset management services.