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October 7, 2009 (FinancialWire) -- Mortgage servicer Ocwen Financial Corp. (NYSE: OCN | Quote | Chart | News | PowerRating) convened more than 30 representatives of grassroots and national housing advocacy organizations to share success stories, new ideas and insights related to preventing foreclosures and helping homeowners. The roundtable discussion was geared, in part, to provide additional context for an expected report by a Congressional Oversight Panel on the effectiveness of foreclosure mitigation efforts. During the roundtable, which included remarks from human rights activist and author Kerry Kennedy, the community groups and Ocwen representatives agreed upon a number of imperatives and recommendations. They include: * Working closely with the Obama administration to arrive at more flexible guidelines so more distressed homeowners qualify for mortgage modifications under the Home Affordable Modification Programl * Developing a national awareness and information campaign regarding HAMP to increase homeowner outreach. * Focusing more intensely on homeowners who are under-employed or unemployed and thus need state or federal assistance to qualify for mortgage modifications. * Greater collaboration between servicers and grassroots groups in providing real-time solutions for homeowners - including being more proactive about helping borrowers early on, before they face the prospect of foreclosure. * Increasing government budget allocations for community and grassroots organizations' engagement in housing and financial counseling with homeowners - and streamlining the procedures for reimbursement for the effort. * Increasing the use of Web technology to reach out to homeowners and link them with community groups that can offer housing counseling and other supportive social services. * Combating consumer and Fair Housing violations and other scams perpetrated on borrowers by groups trying to lure distressed homeowners into illegal and damaging home foreclosure prevention programs. FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net. Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279). http://www.financialwire.net For full details on Ocwen Financial Corp (OCN) click here. Ocwen Financial Corp (OCN) has Short Term PowerRatings of 4. Details on Ocwen Financial Corp (OCN) Short Term PowerRatings is available at This Link.
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