PHH Mortgage Recognized as a 2021 STAR Performer by Fannie Mae

Achieved STAR Distinction in All Three Performer Categories

WEST PALM BEACH, Fla., Feb. 28, 2022 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae’s 2021 Servicer Total Achievement and Rewards™ (STAR™) performer recognition.

STAR Performer recognition is reserved for top performing servicers within one or more of three STAR Performer categories: General Servicing, Solution Delivery, and Timeline Management. PHH received recognition in all three categories, making it one of only two servicers to achieve this high level of service excellence.

“We’re honored to have achieved Fannie Mae’s STAR recognition for excellence in mortgage servicing,” said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage. “Our team works hard every day to consistently deliver on our commitments and bring value to our customers, clients and investors. Receiving this recognition is a testament to our team’s dedication, experience and passion for supporting homeowners and the mortgage industry.”

Anderson continued, “We believe our servicing platform, people and capabilities are among the best in the industry, and having Fannie Mae recognize us for our performance excellence speaks to our ongoing commitment to making a positive impact for those we serve.”

STAR Program participants are measured on the basis of their performance managing General Servicing (Transition to 60+ and Investor Reporting Score), Solution Delivery (60+ to Cure, Retention Efficiency, Liquidation Efficiency, and Six-Month Modification Performance), and Timeline Management (Transition to Beyond Time Frame). Each servicer’s performance in these metrics is compared against the performance of other Fannie Mae loans with similar credit characteristics.

About Ocwen Financial Corporation

Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices in the United States and the U.S. Virgin Islands and operations in India and the Philippines, and have been serving our customers since 1988. For additional information, please visit our website (www.ocwen.com).

FOR FURTHER INFORMATION CONTACT:

Dico Akseraylian T: (856) 917-0066 E: mediarelations@ocwen.com