Ocwen Financial
Here at Lender Watch we monitor companies that are heavy into subprime. Confirming our concerns today was a downgrade of Ocwen Financial by Fitch Ratings. In the past two years, Ocwen has executed numerous high-profile servicing acquisitions, including buyouts of Barclays’ HomEq platform and Litton Loan Servicing’s portfolio and operations.
In 2010, Ocwen ranked fourth in subprime mortgage servicing, at $56 billion in volume. That was behind American Home Servicing ($78 billion), Bank of America/Countrywide ($82 billion) and Chase Home Finance ($90 billion).