Ocwen Financial Research Proposal

Chapter 1: Research Proposal and Introduction
Section 1: Introduction to Ocwen Financial Corporation Ocwen Financial Corporation, is a financial servicer holding business which, through its affiliates, creates and facilitates loans. Its headquarters are in West Palm Beach, Florida, with offices in Washington, D.C., U.S. Virgin Islands, St. Croix, Iowa, Texas, Orlando, Pennsylvania, and has support operations in India and the Philippines. Ocwen Financial Corporation, was founded in 2008 by billionaire mortgage entrepreneur William Erbey. Ocwen Financial Corporation offers myriad services such as “servicing, sub-servicing, special servicing, and stand-by servicing solutions for both residential and commercial loans including Real Estate Owned”

Ocwen Financial Corporation, service commercial and residential mortgages for third-party companies, such a Freddie Mac, Fannie Mae, Deutsche Bank and Goldman Sachs in over 50 states. “Ocwen Financial Corporation, is the largest nonbank mortgage servicer and the fourth-largest servicer overall in the United States” (Consumer Finance Protection Bureau, 2013). Billionaire mortgage entrepreneur, William Erbey, once stated; “the product we service is a very difficult product to service by and large” (Yahoo Finance, 2014). Ocwen Financial Corporation, specialized in servicing delinquent loans with the objective of saving them from foreclosure by offering loan modifications to its customers. Through the years Ocwen evolved into a more mature company with major emphasis on customer service and customer satisfaction while helping homeowners keep their

Research Significance and Purpose
Research Significance The research on Ocwen Financial Corporation, is extremely valuable due to the difficulties the company is facing now, consequently, its necessary to expose the issues to improve profitability and gain back customers and investors’ confidence. A clear understanding of how to reverse and stop the lack of qualified compliance and risk management guidelines would not only benefit Ocwen’s customers, but also stockholders.
Purpose
The purpose of this analysis is to encourage and assist Ocwen Financial Corporation management team, to conduct proper actions and follow procedures towards a more prosperous future while addressing and reinforcing measures while in compliance with federal government.
Data Collection / Research Methods For this research paper, the data collection method will be conducted by researching peer review journal articles, Palm Beach State College database, newspapers and state and federal government agencies. Furthermore, internet articles, corporate websites and books will be considered to complete the literature