Ocwen Closing Houston Residential Servicing Operations

Ocwen Financial Corporation, a leading financial services holding company, recently announced that the company will close its residential servicing operations at its Houston facility.

This decision comes after strategic review within the company in order for them to, consolidate the amount of call center sites, eliminate redundancies, and increase effectiveness within residential loan servicing operations. The facility in Houston is the company's smallest residential servicing call center in the U.S. mainland.

According to Ocwen, the elimination of the Houston site will affect 140 residential servicing employees, which is less than 5 percent of the company's estimated 3,200 employees in the U.S. All affected emloyees will be offered the chance to apply at other Ocwen locations.

"Whenever business decisions cross personal relationships, it is difficult,” said Ronald Faris, president and CEO of Ocwen. “This decision was especially hard since our Houston employees had a positive influence on the company's performance. We appreciate all the support and dedication these employees have shown over the years."

The new changes will not affect Ocwen's commercial servicing unit, and they will continue their operations out of the Houston location.