Protesters "Storm" Ocwen Financial In Pouring Rain; Demand Halt In Predatory Practices

In West Palm Beach, Florida, The Palm Beach Post reports:

• Dozens of people poured out of a big yellow school bus in Wednesday's rain to protest what they said was Ocwen Financial's predatory lending practices. The group, members of ACORN, crowded into the lobby of Ocwen's headquarters, chanting loudly and demanding to talk to the chief executive of one of the country's largest subprime loan servicers. CEO William Erbey had ignored a letter ACORN sent to him in July asking for a meeting, protest organizer Brian Kettenring said.

• "This is kind of a poke in the eye to get his attention," Kettenring said. "I'm the Michael Moore of foreclosures." ACORN - Association of Community Organizations for Reform Now - wants Ocwen to stop foreclosures and evictions immediately, restructure loans based on borrowers' incomes and ability to pay, and offer to lock in the initial interest rate for the remaining terms of the loan for borrowers who cannot afford monthly payments that are about to reset at much higher interest rates.

For more, see Homeowners, activists insist lender modify mortgages.

Go here to watch WPEC-TV Channel 12's coverage of the protest.

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