WASHINGTON, Jul 26, 2011 -- Ocwen Financial Corporation OCN -0.61% , servicer of residential mortgages, has initiated a loan modification program designed to help distressed homeowners who owe more than their houses are worth and, at the same time, mitigate the likelihood of rewarding borrower delinquency.Ocwens Shared Appreciation Modification program reduces delinquent customers principal owed but also compels them to share some of the appreciation with the mortgages owner if the house increases in value by the time they sell or refinance it.
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