Underwater borrowers may have a new loan modification option, at least with Ocwen Financial Corporation. Ocwen is expanding its SAM (Shared Appreciation Modification) Program, which allows borrowers to modify their loans at a more realistic value – generally, about 95% of their current value. In return for the modification, the homeowners contract with Ocwen to share 25% of the home’s appreciation with the investor when the home is eventually sold or refinanced.