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Ocwen Financial Corp (OCN.N)

OCN.N on New York Stock Exchange

2.66USD
26 May 2017
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$0.04 (+1.53%)
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Latest Key Developments (Source: Significant Developments)

Ocwen Financial files amendment to 2016 annual report on form 10-K
Tuesday, 16 May 2017 06:30am EDT 

May 16 (Reuters) - Ocwen Financial Corp :Ocwen Financial Corp says files amendment to 2016 annual report on form 10-K.Ocwen Financial - amendment related to a confidential MOU with Multistate Mortgage Committee.Ocwen Financial Corp says amendment did not result in any changes to company's consolidated financial statements and related footnote disclosure.Ocwen Financial - management re-evaluated effectiveness of disclosure controls, internal control over financial reporting as of Dec 31, 2016.Ocwen Financial - management concluded co's disclosure controls, procedures, internal controls over financial reporting not effective as of Dec 31, 2016.Ocwen Financial - disclosure controls not effective as of Dec 31, 2016 solely due to material weakness resulting in failure to provide disclosure of mou.Ocwen Financial - evaluating necessary changes to its controls to remediate weakness and expects to provide an update in its June 30, 2017 form 10-Q.  Full Article

Leon Cooperman reports 6.80 pct passive stake in Ocwen Financial Corp as of May 2
Friday, 12 May 2017 04:51pm EDT 

May 12 (Reuters) - Leon Cooperman: :Leon Cooperman reports 6.80 percent passive stake in Ocwen Financial Corp as of May 2 - sec filing.  Full Article

Ocwen financial files for non-timely 10-Q
Wednesday, 10 May 2017 06:04pm EDT 

May 10 (Reuters) - Ocwen Financial Corp ::Files for non-timely 10-Q- sec filing.Ocwen Financial says incurred GAAP net loss of $32.6 million, or $0.26 per share for march quarter versus net loss of $111.2 million or $0.90 per share last year.Says currently expects to file its form 10-q on or before may 15, 2017.  Full Article

Altisource says co is in communication with Ocwen and New Residential
Monday, 8 May 2017 08:25am EDT 

May 8 (Reuters) - Altisource Portfolio Solutions Sa :Altisource responds to potential transaction between ocwen and new residential.Altisource portfolio solutions sa - altisource is in communication with both ocwen and nrz.Altisource portfolio - expects any potential agreement between ocwen and nrz will be consistent with and respect co's service agreements with ocwen.Altisource portfolio - aware that ocwen and nrz have each stated that there are on-going negotiations for a deal.Altisource portfolio - view efforts by ocwen & nrz to reach deal that reduces "uncertainty and strengthens relationship between nrz and ocwen as a positive development".  Full Article

Ocwen Financial reports Q1 loss per share $0.26
Wednesday, 3 May 2017 06:30am EDT 

May 3 (Reuters) - Ocwen Financial Corp ::Ocwen Financial announces preliminary operating results for first quarter 2017.Q1 GAAP loss per share $0.26.Q1 revenue fell 2.7 percent to $321.9 million.Q1 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.Delinquencies decreased from 11.2 pct at Dec. 31, 2016 to 10.7 pct at March 31, 2017, primarily driven by loss mitigation efforts.Recent reviews have not identified past or present systematic issues with foreclosure sale processes."One area where we continue to invest is in strengthening our risk and compliance infrastructure".Last 4 qtrs of testing in 2016 by independent internal review group confirmed no tested national mortgage settlement metrics were "out of tolerance".  Full Article

Ocwen Financial, New Residential working on agreement relating to about $117 bln in Mortgage Servicing Rights
Monday, 1 May 2017 10:27am EDT 

May 1 (Reuters) - Ocwen Financial Corp : :Ocwen Financial and New Residential working on definitive agreement to strengthen and solidify relationship.Proposed new agreement relates to approximately $117 billion in Mortgage Servicing Rights.Under agreement, New Residential would also make an equity investment in Ocwen and become a 4.9% owner.New arrangement would involve upfront payments to Ocwen of $425 million as MSRs transfer.Proposed new agreement would convert New Residential's existing rights to MSRs to fully-owned MSRs.  Full Article

Ocwen Financial announces filing of two related motions
Wednesday, 26 Apr 2017 06:30am EDT 

April 26 (Reuters) - Ocwen Financial Corp ::Ocwen Financial - announces filing of 2 related motions that seek early court ruling that "consumer financial protection bureau (CFPB) is unconstitutional".  Full Article

Ocwen Financial files motions for restraining orders against some state mortgage regulators
Tuesday, 25 Apr 2017 01:24pm EDT 

April 25 (Reuters) - Ocwen Financial Corp ::Ocwen Financial says files motions for restraining orders and injunctions against Illinois and Massachusetts mortgage regulators.Ocwen Financial Corp says plans to appeal or respond to each of remaining state mortgage regulator actions in coming days.Ocwen Financial Corp says continues to seek an "acceptable resolution" to resolve all state concerns.Ocwen-Over course of almost 2 yrs, co, board have been in regular communication with state mortgage regulators, including those in Illinois, Massachusetts.Remains "committed" to working with Illinois, Massachusetts, other state regulators to resolve valid concerns, commenced those efforts.  Full Article

Ocwen financial says disputes key allegations made in state regulators' orders
Friday, 21 Apr 2017 06:30am EDT 

April 21 (Reuters) - Ocwen Financial Corp :Ocwen Financial - disputes key allegations made in state regulators' orders that co's mortgage loan servicing practices have caused substantial consumer harm.Ocwen Financial - will not sign consent orders that make "impractical demands" that no other market participant could rationally accept.  Full Article

Ocwen financial issued statement in response to legal action filed by Consumer Financial Protection Bureau
Thursday, 20 Apr 2017 02:30pm EDT 

April 20 (Reuters) - Ocwen Financial Corp :Ocwen Financial issued statement in response to legal action filed by Consumer Financial Protection Bureau.Ocwen Financial - "believes its mortgage loan servicing practices have and continue to result in substantial benefits to consumers above and beyond other mortgage servicers".Ocwen Financial Corp says "disputes" CFPB'S claim that ocwen's mortgage loan servicing practices have caused substantial consumer harm.Ocwen Financial Corp says unaware of CFPB conducting any detailed review of ocwen's loan servicing files.Ocwen Financial Corp says received various orders from state mortgage regulators, and are in process of reviewing them in detail.  Full Article

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BRIEF-Ocwen Financial files amendment to 2016 annual report on form 10-K

* Ocwen Financial Corp says files amendment to 2016 annual report on form 10-K