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Tag Archives: Ocwen Financial

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.

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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.

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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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