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TheStreet Open House

Ocwen Hosts Fifth Annual Housing Advocacy And Policy Forum

Stocks in this article: OCN

WASHINGTON, June 19, 2014 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN), one of the nation's largest mortgage servicers, today hosted its fifth Annual Housing Advocacy and Policy Forum. The event brought together key stakeholders in America's housing debate to exchange perspectives on important issues related to homeownership and mortgage finance in the context of an evolving market and regulatory environment. Attendees included senior officials from housing advocacy and policy groups, the mortgage industry and several federal government agencies.

The Treasury Department's Chief of Homeownership Preservation Mark McArdle delivered a speech about ongoing federal efforts to assist homeowners who continue to struggle in the aftermath of the housing crisis. In addition, representatives from the Office of the Comptroller of the Currency and Department of Housing and Urban Development addressed a variety of issues including the emerging regulatory landscape and new counseling initiatives to assist homeowners.

The event also featured panel discussions focused on:

  • The impact of the Qualified Mortgage rule on the housing market and how changes at Fannie Mae and Freddie Mac could affect access to credit.
  • Innovative strategies to rehabilitate blighted communities through partnerships with land banks and nonprofit organizations.

Panelists included representatives of:

  • Center for Responsible Lending
  • Federal Reserve Bank of Cleveland
  • Housing Partnership Network
  • Mortgage Bankers Association
  • National Community Stabilization Trust
  • National Housing Conference
  • Neighborhood Housing Services of Chicago

"Ocwen has a longstanding commitment to collaborate with non-profit housing counseling agencies. These groups are indispensible for effective communication with struggling borrowers," said Ronald Faris, Ocwen's President and CEO. He continued, "As new regulations take effect and the housing market continues to recover, we believe the exchange of ideas between housing counselors, regulators and mortgage industry leaders is critically important. We each have a unique perspective, but we all share the same goal – to assist struggling borrowers and to ensure that every qualified borrower has access to mortgage credit."

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