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Loan Mods Being Farmed out to India and Uruguay Call Processing Centers

Posted by 15789465 on

According to a story today on the ABC/Channel 10 website for Sacramento, Californa, loan modification company HomeEq Servicing Company has been acquired by Ocwen. I do not know the details of the purchase.  Reports are that 924 employees of HomeEq have been laid off. There are additional reports that Ocwen plans to subcontract the loan modifications to call centers in India and Uruguay. I'll stay on top of this story and let you know what I find out.

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2 comments

  • I agree. The servicing companies say this is a “good thing” because the cheaper labor costs let them hire more people, which lets them have a lower processor-to-borrower ratio and approve more short sales. I say, if taxpayer money is going to these companies, then they need to hire people in this country, help the employment statistics, and avoid more foreclosures and short sales through higher employment and spending!!!!

    deniselevans on
  • This is horrible! If experienced US mortgage people could process short sales then it would work smoother. These jobs do not need to go to India! US mortgage people have the experience and can get the job done quicker!!!
    Lets contact the National Assoication of Realtors, National Association of Mortgage, and politicians!

    Delora Pate on

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