Skip to main content

Ocwen Launches Turnkey Servicing Operation for Buyers of Distressed Mortgages

May 26, 2011

Ocwen Financial Corporation has announced that it was launching a new product, PlatformPlus, aimed at helping buyers of non-performing loan portfolios or residuals of private-label securities get more value from their loans. Ocwen is offering a "turnkey" product whereby an investor in distressed assets can set up a state-of-the-art specialty servicing operation using Ocwen's proven technology and management. "In our discussions with hedge funds and other buyers of distressed assets, there was a desire to use Ocwen's proven prowess as a special servicer but retain 'hands-on' control over an in-house operation," said Ocwen Financial Corporation Chairman William Erbey."These investors also recognize that building or buying a platform carries substantial risks. Starting from scratch requires a large investment in an unproven operation. Buying an existing platform carries risks related to 'sins of the past.' The natural compromise was to work with Ocwen in developing their own operation. Ocwen's strong track-record of success and easily scalable platform can help get a robust operation off the ground at a relatively low cost and with a high-degree of confidence." PlatformPlus provides several components: ►Access to Ocwen's industry-leading technology, including ongoing improvements ►Management services to recruit and build-out the operation ►Ongoing advice for responding to regulatory changes ►Sharing of innovations developed by Ocwen ►Access to Ocwen's network of service providers, including Altisource
About the author
May 26, 2011
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024
UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Apr 25, 2024