Ocwen

Ocwen Financial Corporation, often referred to as Ocwen, is a holding company based in Virginia, United States. It was founded in 1989 and is publicly traded on the New York Stock Exchange under the ticker symbol OC. The company operates through its subsidiaries, which include Ocwen Financial Corporation, Ocwen Loan Servicing, LLC, and Ocwen Loan Servicing, Inc. Ocwen specializes in mortgage servicing, mortgage origination, and mortgage insurance. It serves a diverse customer base, including homeowners, investors, and government entities. Ocwen's services are primarily focused on the secondary mortgage market, where it buys, holds, and services mortgages that have been sold by lenders. The company also provides mortgage insurance products, such as mortgage insurance premiums and mortgage insurance claims processing. Ocwen's operations are regulated by various federal and state agencies, including the Federal Housing Finance Agency, the Federal Reserve, and state banking regulators. The company has faced criticism and legal challenges related to its mortgage servicing practices, including allegations of predatory lending and inadequate customer service. Despite these challenges, Ocwen remains a significant player in the mortgage industry, with a substantial portfolio of mortgages and a wide range of services.