To preface, I am a recently laid-off employee of OCWEN (thanks to India¬). I will be honest and say that it is a terrible place to work, however the people in the trenches are good people and try hard (probably of no comfort to someone we are foreclosing on).
A quick history. A few years back Ocwen recruited Moss Codilis to insulate them from lawsuits. Ocwen charges 95 dollars to a delinquent account every time a demand is sent (and obviously they like to send as many as possible). For this service, Moss gets a split (I believe $50) on each letter. If they send 1000 a day (which is common), well that's aprox $1 million a month.
Recently, someone at OCWEN discovered this negative cash flow, and recommended that OCWEN set up their own law firm. That way they could sever ties with Moss Codilis (whom obviously have worn out their welcome), and print the letters themselves. Not only that, they plan on soliciting other lenders to provide this service.
In other words, they plan on competing with Moss Codilis. The one sticking point is that Moss has control of images of everything they sent in the last couple years. I'd say the cost of a copy of those images (for OCWEN) will go up as soon as Moss Codilis hears about the pull out. Because of OCWEN's recent transition to India (they employ more in India than USA) I feel it is my responsibility to provide this information so that Moss Codilis can shelter themselves from this anti-American corporation.
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