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HAMP Slowing Ocwen’s Mod Efforts
The Home Affordable Modification Program is expected to eventually be a financial boon for Ocwen Financial, but thus far the program has significantly slowed the servicer’s modification efforts. Ocwen detailed the problems this week during a call with investors regarding its earnings for the third quarter of 2009. Ocwen completed 7,003 mods in the third quarter of 2009, down slightly from the 8,157...
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