Ocwen Integrates Default Tools
Ocwen Technology Exchange, a subsidiary of Ocwen Financial Corp. here, will release an integrated default management system called REALResolution.
Ocwen said the system is an end-to-end default system suitable for both prime and subprime loans that does not require additional investment in hardware and software by lenders.
"While many of our competitors have focused purely on default management, our system empowers servicers to take positive steps to help borrowers stay in their homes," said Arthur Ringwald, president of OTX.
REALResolution gives credit counselors real-time data about a customer's payment patterns.
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