Morningstar cited Ocwen’s management team, enhanced corporate governance and improved control, and its internal audit and quality control methodologies as reasons for the shift.
Read More »Ocwen’s Financial Fortunes Turn Around in Q3
Ocwen reported its first quarterly profit in more than a year. What was the reason for the turnaround?
Read More »S&P Upgrades Ocwen’s Ratings
After enduring a rough year so far earnings-wise, Ocwen Financial Corporation received some positive news this week.
Read More »Ocwen Absorbs Another Quarterly Loss
Legal expenses stemming from the Fisher cases cut into Ocwen's second quarter earnings.
Read More »Ocwen Cleared of RMBS Investors’ Allegations
What exactly did a year-long analysis of Ocwen's servicing operations from an independent consulting firm reveal?
Read More »It’s Lonely at the Top for Nationstar Mortgage
Nationstar Mortgage was the only one out of the three largest U.S. non-bank mortgage servicers to turn a profit during 2015, according to Moody’s Investors Service’s Servicer Dashboard.
Read More »Ocwen’s Fraud Lawsuits Dismissed by Federal Judge
U.S. District Judge William Dimitrouleas in the U.S. District Court, Southern District of Florida, dismissed lawsuits filed by Ocwen Financial shareholders and Altisource Portfolio Solutions shareholders accusing the Atlanta-based servicer of fraud.
Read More »Monitor Determines Issues with Ocwen’s IRG Have Been ‘Sufficiently Addressed’
Monitor of the National Mortgage Settlement, Joseph A. Smith, Jr. concluded his investigation of Ocwen Financial's Internal Review Group with the determination that issues surrounding the Atlanta-based servicer's IRG have been "sufficiently addressed," according to an announcement from Smith's office.
Read More »S&P Downgrades Ocwen’s Rankings to ‘Below Average’
Just two weeks after being upgraded by Moody's Investor Service and being placed Standard & Poor's CreditWatch list for a downgrade, S&P cut Ocwen Financial's rankings for residential mortgage prime, subprime, special, and subordinate-lien from Average to Below Average. S&P said that it believed "regulatory and investor scrutiny and/or actions" had affected Ocwen's operations.
Read More »Preliminary Report Shows Q1 Net Income of $34 Million For Ocwen
The company's Q1 2015 preliminary revenue of $510.4 million represents a 7 percent year-over-year decline, and preliminary income from operations dropped from $202.1 million in Q1 2014 down to $132.1 million in Q1 2015. Meanwhile, preliminary cash flow from operating activities for Q1 totaled $323 million, a year-over-year increase of 65 percent.
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