Ocwen Financial Corporation
Feb 21, 2017

Ocwen, NID, and NAACP Team Up to Help Borrowers in Los Angeles, California

February 25th event to help homeowners explore options to better afford their homes

WEST PALM BEACH, Fla., Feb. 21, 2017 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, is collaborating with NID Housing Counseling Agency (NID), a U.S. Department of Housing and Urban Development (HUD)-approved housing counseling organization headquartered in Oakland, CA, and the NAACP to host their first homeowner outreach event of 2017 in Los Angeles, California on Saturday, February 25. The Los Angeles event will be the third event that Ocwen, NAACP and NID have collaborated on to help California homeowners over the last year.

The event will be held from 8:00 a.m. to 2:00 p.m. at the Consolidated Board of Realtists, which is located at 3725 Don Felipe Drive in Los Angeles. Admission and parking are free for all attendees. RSVPs are not required.

Ocwen customers who are struggling to meet their mortgage obligations will have the opportunity to meet one-on-one with Ocwen Home Retention Agents and NID housing counselors to discuss loan modification options that could help lower their mortgage payments.

"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," said Jill Showell, Senior Vice President of Government and Community Relations at Ocwen. "NID and the NAACP share our belief that homeownership is the foundation of strong communities, and we are proud to be working together to bring relief to struggling borrowers in the Los Angeles area."

"Sadly, NID continues to witness firsthand the financial challenges families are facing throughout California," said Ray Carlisle, President of NID. "Many of these families are still unable to afford their mortgage payments, and are at risk of losing their homes. We are pleased to be working together with Ocwen and the NAACP to help make a meaningful difference in peoples' lives with this important borrower outreach initiative. Our goal is to help borrowers explore all available loan modification options so they can remain in their home and a part of their community." 

"It is concerning that so many minority homeowners throughout California are struggling to pay their mortgage," commented Marvin Owens, Senior Director of Economic Programs at the NAACP. "The NAACP recognizes there is still work to be done to protect the hard fought gains that homeownership represents. This borrower outreach initiative is designed to educate homeowners on available loan modification programs, including principal reduction options, which can help them better afford their homes, remain part of their communities, and build wealth for the future."

Homeowners who attend the event will receive the following:

For additional details and information on what to bring, call Ocwen's direct-access number for the event at 855-459-2514 or visit www.OcwenCares.com/Events.

About Ocwen Financial Corporation
Ocwen Financial Corporation is a financial services holding company which, through its subsidiaries, originates and services loans. We are headquartered in West Palm Beach, Florida, with offices throughout the United States and in the U.S. Virgin Islands and operations in India and the Philippines. We have been serving our customers since 1988. We may post information that is important to investors on our website (www.Ocwen.com).

About NID
NID-HCA is a national HUD approved organization comprised of a diverse, centralized network of advocacy groups and individuals, organizations, housing counselors, real estate professionals, community groups, civic organizations and faith-based organizations committed to ensuring fair housing opportunities for all, especially in underserved urban/minority communities throughout the country. As an advocacy, policy, education, and resource network, NID-HCA works to provide its partners and the communities they serve with information, services, and products to assist them in increasing access to quality housing and mortgage products, and curbing housing inequities.

About the NAACP
Founded in 1909, the NAACP is the nation's oldest and largest nonpartisan civil rights organization. Its members throughout the United States and the world are the premier advocates for civil rights in their communities. For more information on the NAACP California State Conference, please visit http://www.ca-naacp.org/.

FOR FURTHER INFORMATION CONTACT
John Lovallo
jlovallo@levick.com
917-612-8419