Ocwen Financial is partnering with the NAACP to host a series of community outreach events designed to reach struggling borrowers and help them stay in their homes.
According to a release from Ocwen, the company and the NAACP will host four borrower outreach events throughout 2016 that will give struggling borrowers the opportunity to receive in-person, individualized mortgage counseling.
The events, called “Help & Hope for Homeowners,” will take place in Florida, New Jersey, Texas, and Washington.
“Help & Hope for Homeowners” events offer homeowners the opportunity to meet with Ocwen Home Retention Agents and U.S. Department of Housing and Urban Development-approved financial counselors to learn about loan modification programs, including principal reductions, which can help make their homes more affordable, Ocwen said in a release.
Ocwen and the NAACP hosted similar events last year, and met with approximately 800 Ocwen borrowers in four states, with event turnout exceeding expectations, the company said.
According to Ocwen, many of last year’s attendees received a loan modification as a result of the guidance they received at the event.
"The Ocwen and the NAACP borrower outreach events are a great example of how the mortgage industry and nonprofits can work together to make a real difference in people’s lives,” said Charles Lowery Jr., interim senior director/director of fair lending and inclusion at the NAACP Economic Department.
“After meeting with borrowers across the U.S. in 2015, we confirmed that the housing crisis is not over for many borrowers, especially those in African-American communities and communities of color,” Lowery continued. “These borrowers are still in need of help from trusted resources. We are proud that Ocwen and the NAACP’s collaborative efforts have become a leading resource for many that are still in need of an effective solution.”
According to Ocwen, borrowers that attend the events and meet with a HUD-certified counselor will receive the following:
- Assistance with preparing their Request for Mortgage Assistance package
- Information on borrower eligibility for state and federal foreclosure assistance programs
- Counsel on possible mortgage solutions tailored to fit their unique situations
The first event in the 2016 series will be held in Delray Beach, Florida in June.
“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. “Exploring innovative methods of borrower outreach with the NAACP has yielded strong results, and we look forward to leveraging this success in 2016.”