As of 2026, Ocwen Loan Servicing is headquartered in West Palm Beach, Florida, with major offices in Mount Laurel, New Jersey, Rancho Cordova, California, and St. Croix, U.S. Virgin Islands.
Is Ocwen a bank?
No, Ocwen isn’t a bank—it’s a non-bank mortgage servicing company that handles loan administration, collections, and customer service for over 1.4 million loans nationwide, including its flagship brands PHH Mortgage and Liberty Reverse Mortgage.
Think of it like this: banks take your deposits and hand you a mortgage. Ocwen? They’re the ones you call when you’re behind on payments or need to modify your loan. (Honestly, this setup works better for most borrowers.) Unlike banks, Ocwen doesn’t hold your deposits or originate mortgages directly—just manages existing ones on behalf of investors. That means stricter oversight, but also more flexibility in how they handle troubled loans.
Where is Ocwen located?
Ocwen’s headquarters is in West Palm Beach, Florida, with regional offices in Mount Laurel, New Jersey; Rancho Cordova, California; and St. Croix, U.S. Virgin Islands.
Founded way back in 1988, Ocwen grew from a small player to a nationwide servicer. The St. Croix office? That’s no accident—it’s strategically placed to handle default services with round-the-clock coverage thanks to the time zone difference. Smart move, honestly.
Who owns PHH Mortgage?
PHH Mortgage is owned by Ocwen Financial Corp. since the October 2018 merger, making it a wholly owned subsidiary.
Here’s what happened: Ocwen bought PHH for $360 million, combining PHH’s traditional servicing with Ocwen’s reverse mortgage expertise. The result? One of the biggest non-bank servicers in the U.S. PHH keeps its own servicing platform but now operates under Ocwen’s corporate umbrella.
Is Ocwen still around?
Yes, Ocwen is still active—it remains a major player in non-bank mortgage servicing, managing over 1.4 million loans as of 2026.
They’ve had a bumpy ride—regulatory challenges in the early 2020s forced some changes—but Ocwen bounced back by tightening operations and expanding their reverse mortgage side. Want the latest? Their official website has real-time updates on loan transfers and services.
Is Ocwen the same as PHH?
No, Ocwen and PHH are separate entities—though PHH is now a subsidiary of Ocwen after their 2018 merger.
They merged but kept distinct branding so customers wouldn’t get confused. PHH Mortgage still services loans under its own name, while Ocwen handles the big-picture strategy and growth. Simple as that.
Who did Ocwen sell to?
Ocwen itself was acquired by PHH in 2018—but the reverse happened: Ocwen bought PHH for $360 million in February 2018, merging the companies under Ocwen Financial Corp.
Yes, it’s confusing—Ocwen swallowed PHH whole. The deal combined their loan portfolios, and no major asset sales have happened since. As of 2026, Ocwen’s structure remains intact.
What is the relationship between Ocwen and Altisource?
Altisource provides default-related services to Ocwen under multi-year agreements, such as collections and loss mitigation.
Think of Altisource as Ocwen’s behind-the-scenes partner for tough cases—collections, modifications, you name it. Their contract runs through August 2030, so Ocwen outsources the heavy lifting while keeping borrowers in the loop.
Did Ocwen buy PHH Mortgage?
Yes, Ocwen acquired PHH Mortgage in October 2018 as part of its purchase of PHH Corporation, making PHH a wholly owned subsidiary.
That $360 million purchase added $48 billion in servicing rights to Ocwen’s books, plus PHH’s reverse mortgage unit (RMS). The merger instantly made Ocwen one of the largest non-bank servicers in the country.
Why does my loan keep getting sold?
Lenders sell loans to free up capital, manage risk, or exit unprofitable servicing contracts—especially when rates rise or borrower behavior shifts.
If your loan keeps changing hands, don’t panic—it’s not about you. The owner likely sold the servicing rights to a company like Ocwen or PHH to balance their books. Always double-check new servicer details via mail or their official portal. (Pro tip: Set a calendar reminder to avoid missing important notices.)
Does Ocwen own PHH Mortgage?
Yes, Ocwen Financial Corp. owns PHH Mortgage following their 2018 merger.
PHH operates as a subsidiary, keeping its name for customer recognition but reporting to Ocwen’s leadership. If you had a PHH loan, you’d now interact with Ocwen’s systems for payments and questions.
What does PHH stand for?
PHH most commonly stands for “PHH Corporation,” its original corporate name.
| Acronym | Meaning | Context |
|---|
| PHH | PHH Corporation | The company’s legal name since its 1980s founding |
| PHH | Past Health History | Occasionally used in medical or insurance records |
| PHH | Planar Halogenated Hydrocarbon | Chemical compound reference |
Is PHH now NewRez?
Yes, PHH’s subservicing operations were transferred to NewRez LLC as part of a 2021 agreement.
NewRez, a subsidiary of New Residential Investment Corp., took over $41.8 billion in servicing rights (310,000 loans) from PHH. So if you had a PHH loan, you’d now deal directly with NewRez instead.
Did Ocwen change its name?
Ocwen hasn’t changed its corporate name, but it phased out the Ocwen brand for PHH Mortgage and Liberty Home Equity Solutions post-merger.
Here’s the interesting part: Ocwen kept its corporate name but let PHH’s brand shine in mortgage markets. Customers see PHH more often now, but Ocwen Financial Corp. remains the legal parent company behind everything.
Edited and fact-checked by the TechFactsHub editorial team.
