PHH Mortgage Renews Partnership With the NAACP to Help Impacted Homeowners and Communities Through Borrower Outreach Series

Rhea-AI Summary

Ocwen Financial Corporation (NYSE: OCN) announced an extension of its partnership with the NAACP to host over 55 borrower outreach events in 2022, responding to ongoing mortgage payment challenges faced by homeowners. Following more than 90 events during the pandemic, these gatherings will provide mortgage assistance information and opportunities for one-on-one consultations with housing counselors. Since March 2020, PHH Mortgage has aided over 200,000 borrowers with mortgage forbearance and helped more than 1.5 million homeowners avoid foreclosure, forgiving approximately $19 billion in mortgage debt.

Positive

• Renewed partnership with NAACP to host over 55 borrower outreach events in 2022.
• More than 90 events completed since the pandemic began.
• PHH Mortgage has assisted over 200,000 borrowers with mortgage forbearance.
• Company has helped over 1.5 million homeowners avoid foreclosure, forgiving approximately $19 billion in debt.

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• None.

Plan to host more than 55 regional borrower outreach events in 2022
More than 90 borrower outreach events completed since start of COVID-19 pandemic
Third consecutive year partnering with NAACP for annual outreach series

WEST PALM BEACH, Fla., Feb. 14, 2022 (GLOBE NEWSWIRE) -- PHH Mortgage, a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, announced the renewal of its partnership with the NAACP to host more than 55 regional virtual and in-person borrower outreach events for PHH Mortgage customers who are having trouble making their mortgage payments. The outreach events will be held in multiple locations across the country, with the next events to be held in Florida and California.

PHH Mortgage expanded its partnership with the NAACP at the onset of the COVID-19 pandemic in 2020 to conduct virtual borrower outreach events nationwide and assist the increased number of struggling homeowners. Since that time, and through 2021, the organizations have completed more than 90 borrower outreach events across 28 states to help homeowners in need.

The virtual events provide attendees with information regarding mortgage assistance options and feature speakers from a local HUD-certified counseling agency and PHH Mortgage. After the event, homeowners can schedule a virtual one-on-one meeting with a housing counselor and PHH Mortgage Home Retention Agent to discuss their unique situations and receive information about mortgage assistance options available to them.

In-person borrower outreach events may be held when deemed safe and in accordance with CDC guidelines. In-person events provide the opportunity for homeowners to meet one-on-one with HUD-certified housing counselors and PHH Specialized Home Retention Agents to discuss their mortgage assistance options.

“As the pandemic lingers, many homeowners continue to struggle with their mortgage payments. PHH Mortgage remains committed to assisting these borrowers by creating positive outcomes for its customers through its partnership with the NAACP and local and national HUD-certified housing counseling agencies. It is just one way we continue to help borrowers get through these difficult times,” said Tamara Gifford, Director of Community and External Relations at Ocwen.

“The NAACP appreciates the valuable partnership with PHH Mortgage. Our 2021 accomplishments, during the pandemic, successfully demonstrated that continued use of a new platform to conduct virtual events works. These events allowed us to assist an even greater number of struggling homeowners. Maintaining homeownership continues to be our goal. We look forward to expanding our partnership in 2022,” said Dr. Jamie Riley, Director, Inclusive Economy at the NAACP.

Since March 2020, PHH Mortgage has helped more than 200,000 borrowers with mortgage forbearance due to financial hardships related to the COVID-19 pandemic. Since the financial crisis, PHH Mortgage has helped more than 1.5 million U.S. homeowners avoid foreclosure and forgiven approximately $19 billion in mortgage debt.

For a list of dates and locations of upcoming events, please go to www.ocwencares.com/events.

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

FAQ

What is the purpose of Ocwen's borrower outreach events in 2022?

The events aim to assist homeowners struggling with mortgage payments by providing information on mortgage assistance options.

How many borrower outreach events has Ocwen completed since the pandemic started?

Ocwen has completed more than 90 borrower outreach events across 28 states since the pandemic began.

What financial assistance has PHH Mortgage provided during the pandemic?

PHH Mortgage has helped over 200,000 borrowers with mortgage forbearance and has forgiven approximately $19 billion in mortgage debt.

Where will the upcoming borrower outreach events be held?

The outreach events will take place in multiple locations, including Florida and California.