Ocwen Unveils 24-Hour Loan Processing

Ocwen Financial Corp., West Palm Beach, Fla., has announced the introduction of 24-hour mortgage loan processing and closing services for mortgage lenders and brokers.Ocwen said its loan processing services (including all back-office activities) are aimed at originators who want to shorten the closing cycle, reduce expenses, and improve accuracy. Ocwen executive vice president W. Michael Linn said Ocwen's document imaging technology ensures clean loan packages and enables lenders and brokers to reduce the time from application to close by a week or more. "Because we also perform due-diligence services, we understand how important it is to produce clean loan files," he said. "After the lender or broker supplies the mortgage application, we image all supporting loan documents. This allows Ocwen personnel across multiple time zones to multitask on a single file, eliminating bottlenecks and speeding the entire process." Ocwen can be found online at http://www.ocwen.com.