Ocwen Financial and its subsidiaries service residential and commercial mortgages for third parties, mostly for delinquent or high-risk loans. Its main Ocwen Loan Servicing subsidiary is licensed to service loans in all 50 states and two US territories. The company, which has offices and call centers in the US, the Philippines, and India, earns fees from the owners of mortgages or foreclosed real estate for which it collects. Clients include banks and other financial institutions, including Credit Suisse, Deutsche Bank, Freddie Mac, Goldman Sachs, and Morgan Stanley.