1. default servicing in print and online @ dsnews.com 09.2016
Building the Best Team For Your Organization
PETERMURIUNGI
HEADOFSERVICING,MORTGAGE
BANKING,JPMORGANCHASE
LOLAOYEWOLE
HUMANRESOURCESLEADER,U.SOPERATIONS
OCWENFINANCIALCORPORATION
TUJUANNAWILLIAMS
VP,CHIEFDIVERSITY&INCLUSION
OFFICER,FANNIEMAE

2. 4
94
103
This Month
FROMOURDESK . . . . . . . . . . . . . . . . . . . . 2
DSJOURNAL
Is the Fix and Flip Market Cooling;
Creativity Counts: New Approaches
Help Religious Borrowers; Veteran
Homelessness Reduced by Half; The
New “Underwater” Home; On the
Right Track: Scorecard Paints a Picture
of Housing Health . . . . . . . . . . . . . . . . . 7
COUNSEL’SCORNER . . . . . . . . . . . . . . . . 56
ASKTHEECONOMIST . . . . . . . . . . . . . . . 66
FIVEMINUTESWITH
William Glasgow . . . . . . . . . . . . . . . . . 42
FIVEMINUTESWITH
Peter Muriungi . . . . . . . . . . . . . . . . . . . 50
STATEOFAFFAIRS
Impactful local market information at
your fingertips . . . . . . . . . . . . . . . . . . . 110
INDUSTRYINSIGHT
BUILDINGTHEBESTTEAM
The industry combines forces through
mergers and acquisitions . . . . . . . . . . . 94
By Scott Morgan
INDUSTRYINSIGHT
ATTHEINTERSECTION
Discrimination and Diversity in the
Modern Workplace . . . . . . . . . . . . . . . 102
By Kelly Brooks
Contributors
KELLY BROOKS is CEO of Property
Masters Inc., a national asset renovations
company providing a variety of multi-
faceted turnkey services. Kelly joined
Property Masters Inc in 2005 and has
played virtually every role within the
organization becoming the company’s first
Vice President in 2010; COO in 2013; and
finally Chief Executive Officer in 2016.
Through Kelly’s career at Property Masters
she has overseen the company’s growth and
expansion from servicing just the Metro
Atlanta market with a staff of 3, to an 18
state coverage area employing a staff of 160.
Kelly has lead the company with a strict
commitment to quality and service which
has forged the way for Property Masters
to be recognized as a leading vendor in the
mortgage and housing industry.
Join the Conversation
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S E P T E M B E R 2 0 1 6 C o n t e n t s D S N E W S . C O M
42

3. 88
“Corporations
that service
loans should
ensure that
their customer-
facing team
members reflect
the population
they are
serving.”

4. 89
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Does mortgaging/servicing need to be more
inclusive?
Companies in the mortgage industry, like many
other companies and organizations, want to succeed
and grow. To do so, they need to attract the best
and brightest talent. Attracting top talent requires
that organizations foster an inclusive work culture
where respect, equity, and positive recognition
of differences are valued. It also requires that
leadership play a significant role in ensuring the
workplace culture gives permission and embraces
unique and different viewpoints.
Ocwen’s vision is to foster a diverse and
inclusive workplace where every voice is heard. This
vision starts at the very top. For example, the Chair
of Ocwen’s Board of Directors is Phyllis Caldwell,
former Chief, Homeownership Preservation Office
at the U.S. Department of the Treasury. Ms.
Caldwell, along with our senior leadership team,
sets the tone of diversity and inclusion throughout
Ocwen. We are proud of the diversity and
independence of our Board.
We have also identified an executive
management Diversity & Inclusion council whose
role is to establish strategic actions, which will not
only increase our level of diversity but also foster
a culture of inclusion throughout the company.
Creating an inclusive work environment will be
a key component to drive cultural change in our
organization.
How is the industry/your company working
to attract diverse staff (not just racially
different, but young and old, religious
or cultural, LGBT, special population
representatives like newly ex-military, etc.)
Ocwen understands how important
homeownership is to its customers and
communities across America, therefore attracting
diverse talent is critical to our success. We have
partnered with the Direct Employers network to
distribute all our job openings to more than 1000
career websites focused on all areas of diversity.
Recently, Ocwen partnered with The PhD
Project, a 501(c) (3) organization. Founded by the
KPMG Foundation in 1994, The PhD Project
recruits under-represented minority professionals
from business into doctoral programs across all
disciplines. By sponsoring and partnering with The
PhD Project, Ocwen can tap into the wealth of
diverse candidates who could be recruited for roles
within our organization.
Ocwen’s Careers site reinforces our diversity
message and inclusive employer brand through
new imagery and content. Internally we have
established a global review process that ensures a
diverse candidate is considered before making a
hiring decision on upper management roles. Ocwen
also attends and recruits at local diversity-focused
career fairs, such as the Dallas Hispanic Chamber
of Commerce career fair. In addition, Ocwen’s
competitive benefits are designed with the well-
being of our employees in mind.
Our comprehensive benefit packages include
health insurance, paid time-off, retirement
benefits, life insurance, disability benefits, tuition
reimbursement and more. We continue to look for
new ways to engage our current team members to
actively participate in our talent attraction strategy.
From a ‘good corporate citizen/member of
the community’ standpoint, as well as from
a purely business standpoint, what are the
benefits of diversity and inclusion?
In order for companies to be successful in their
industry, they must make the most of the full
range of their people. With changes in technology
and globalization, organizations are realizing that
maximizing the potential of a diverse workforce is
not only a social imperative, but also a competitive
advantage. Diversity is about acknowledging
and leveraging similarities and differences while
also unleashing the power of people. Creating
an environment where all people feel valued and
supported allows the focus to be on the work, which
leads to more engagement, innovation, execution,
and positive business results.
What about inclusion/diversity does the
mortgage or servicing arm need to best pay
attention to?
Corporationsthatserviceloansshouldensure
thattheircustomer-facingteammembersreflectthe
populationtheyareserving.Ocwendidnotoriginate
mostoftheloansinourportfolio.Weacquiredthe
vastmajorityofservicingrightsfromotherfinancial
institutionsintheaftermathofthemortgagecrisis
becausewehaddevelopedaspecificexpertiseasa
“hightouch”servicer.Ournon-performingportfolio
islargelylocatedincommunitiesacrossthecountry
thatarestillsufferingfromthelingeringeffectsofthe
housingcrisisandtendtobeinminorityandlower
incomeareas.Ocwenspendsagreatdealoftimeand
resourcesreachingouttothesecommunitiestohelp
homeownersbecomecurrentandstayintheirhomes.
To serve these markets and these populations,
Ocwen executed a strategy that places a great deal
of importance on partnering with diverse organiza-
tions. We have developed strong collaborations
with the NAACP, the National Council of La
Raza, and local chapters of the Neighborhood
Housing Services, to name a few. We conduct
numerous borrower outreach events in partnership
with these organizations and ensure that the servic-
ing teams and counseling professionals who work
with struggling borrowers speak their language,
understand their culture, and are otherwise able to
offer meaningful assistance.
To further ensure our commitment to serving
diverse markets and populations, in 2014 Ocwen
established a 15 member Community Advisory
Council that is comprised of a diverse group of
organizations and individuals. Chaired by our CEO
Ron Faris, the Council provides a forum for Ocwen
and community leaders to share ideas and collabora-
tively identify opportunities to have a positive impact
on diverse populations. We view these community
leaders as valued partners in establishing open lines of
communication with our customers. Over the years,
their diverse views and contributions have helped us
better reach into diverse communities and have made
Ocwen a better company.
LOLA OYEWOLE
Human Resources Leader, U.S Operations
Ocwen Financial Corporation
DIVERSITYPERSPECTIVES