Customers value their loans with greater accuracy and have more
scalable expenses by using Ocwen's loan origination services! Ocwen
provides fulfillment (both wholesale and correspondent), property
valuation, contract underwriting, document processing and certification
services and a wide range of processes that support the origination
of both prime and non-prime loans. With the advantages of extensive
mortgage experience, proprietary best practices and globalization,
Ocwen sets the standard for fast, scalable, accurate loan origination
and fulfillment services.
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Ocwen has expanded its loan processing and fulfillment services to Investment Banks, Commercial Banks and Mortgage Originators who want the advantages of globalization, the security of working with a proven leader, broad mortgage industry expertise and scalable pricing to shorten the closing cycle and improve accuracy and quality.
In 2002, Ocwen began performing property valuation services and contract underwriting for non-prime loans at our global operating centers. Since that time, Ocwen has systematically applied scientific management to developing proprietary best practices for valuing, underwriting and providing fulfillment services. In 2004,Ocwen announced the launch of OSMO, the Ocwen School of Mortgage Origination, in order to educate and develop Ocwen |
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| employees into the leading professionals in the mortgage industry through the application of best practices in the loan origination and fulfillment process. Today, Ocwen uses personality profiling and cognitive testing in the selection of every recruit. Coupled with the deep labor pools from which our fifteen operations centers draw, Ocwen is able to ensure that the right people are processing loans accurately and quickly.
In addition, Ocwen has embedded these best practices into its technology with the leading artificial intelligence engine, married to a vendor management system, REALTrans®, and interconnected with leading fraud, compliance, valuation, documentation and portal services with top-level third-party vendors (in fact 13,000 of them) in order to facilitate the ultimate in speed, timeliness, accuracy and scalability. This system is run on Cisco's third largest IPCC network in the world to the exacting security and reliability standards of Sarbanes-Oxley, U.S. regulators and the most demanding financial services companies in the world - Ocwen's customers!
Ocwen operates the industry's leading global mortgage origination and fulfillment services factory 24*7 to reduce the number of days from application to securitization and to help clients achieve higher quality and greater value! |
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How Ocwen Residential Origination Services Creates Value
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Convert improved quality and reduced turnaround times to more market share
Increase speed to market to accelerate the funding cycle
Enable management to focus attention on growing revenue |
Lower costs per transaction
Support multiple sites with a centralized, workflow enabled process
Reduce the costs, risks and headaches of meeting technology needs
Shift top producers from transaction processing to high value add activities
Create cash flow with less working capital
Reduce rework and error correction |
Add real time quality control without materially slowing transaction times
Strengthen controls over information and data
Standardize processes, systems, policies and procedures
Increase sample size and rigor without increasing costs
Improve responsiveness to inquiries and information
Increase the effectiveness and reduce the costs of ongoing compliance
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Reduce the fixed component of costs while maintaining volume capacity
Increase the ability to respond to volume and process changes
Process 24*7 to increase production responsiveness |
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Why Ocwen Residential Origination Services?
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| Proven and reliable |
- Proven with the world's most demanding customers - nine of the ten leading Wall Street investment banks use Ocwen
- NYSE Listed (OCN) with U.S. HQ - with operating centers in U.S., Canada, Europe and Asia
- Deep Sarbanes-Oxley, regulatory and enterprise risk management expertise
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| Best of class fulfillment, valuation and contract underwriting solutions |
- Globalization and loan processing technology includes REALTrans®, DocuTech, Work-flow, Imaging, Commerce Velocity plus leading fraud detection and compliance solutions integrated into our intelligent network with 13,000 information vendors providing high speed, leading edge technology
- Six Sigma process design with proprietary best practices
- Advanced personnel selection and training
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| Innovative, scalable business models |
- Economies of scale, reduction of fixed costs and flexible capacity
- Hybrid: on-shore, off-shore processing with geographic independence
- Thought leadership applied to customizable processes
- Advanced valuation products
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Clients leverage our deep industry expertise, innovative technology and highly efficient global mortgage factory to increase the value of their loans. |
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A clear leader in using globalization to make your loans worth more as shown by our rankings: |
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Ranked #2 in "The Top Ten Mortgage Banking Outsourcing Vendors" in The Black Book of Outsourcing (April 2007) |
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A "Top 60 Global Outsourcer" based on the findings of the International Association of Outsourcing Professionals as published in Fortune Magazine (April 2006) |
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One of "The Worlds 100 Most Innovative Service Providers" by neoIT, CMP Media LLC & Global Outsourcing Magazine (February 2007) |
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Ranked consistently in the Top 10 subprime residential mortgage servicers; "Click here for the ranking" |
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The largest global outsourcer of loan processing solutions with more than 3,500 employees in its eight operations centers in North America, Europe and Asia. |
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Underwrites tens of thousands of prime and subprime loans each year. |
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Technologies are used by the companies that originated 40% of the mortgage loans in the U.S. last year. |
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It has a strong financial base (Click here for current financials) as a subsidiary of Ocwen Financial Corporation (NYSE:OCN). |
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Highly rated as a subprime and special servicer by all three major rating agencies. Click here for ratings. |
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