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QUOTE AND NEWS
Benzinga
Mar 20
Comment
Shares of Ocwen Financial (NYSE: OCN) are lower on the session by 0.81%, currently trading at $15.97. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average.
Options traders...
StreetInsider.com
Mar 15
Comment
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Ocwen+Financial+%28OCN%29+to+Redeem+%2456.44M+of+Convertible+Senior+Unsecured+Notes/7271240.html for the full story.
Globe Newswire
Mar 7
Comment
ATLANTA, March 7, 2012 (GLOBE NEWSWIRE) -- It has recently come to our attention that there is disinformation in the market place to the effect that our company, Ocwen Financial Corporation ("Ocwen") (NYSE:OCN), is unable to service agency loans. The
TheStreet.com
Feb 24
Comment
Updated to clarify Ocwen's participation in the TARP program. An earlier version of this article stated Ocwen had yet to "pay back" TARP funds, but the type of funds the company received were incentive payments related to mortgage modifications...
Benzinga
Feb 23
Comment
Sterne Agee provided color on Ocwen Financial's (NYSE: OCN) 4Q 2011 earnings results in a research report out today, noting in particular the impact of the costs associated with the company's Litton acquisition.
Presently, Sterne Agee has a Buy...
Globe Newswire
Feb 23
Comment
ATLANTA, Feb. 23, 2012 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation ("Ocwen" or the "Company") (NYSE:OCN) today reported Net income of $9.7 million, or $0.08 per share, for the fourth quarter of 2011. This compares with Net income of $9.9 million,
Benzinga
Feb 15
Comment
According to a research report published earlier today, Bank of America has increased Ocwen Financial Corporation's (NYSE: OCN) PT from $16.50 to $18.
In the report, Bank of America commented, “OCN reiterated that ‘12 opportunities in...
Stock Blog Hub
Jan 17
Comment
We have upgraded our long term recommendation on Ocwen Financial Corporation (OCN) to “Outperform” from “Neutral”. The main reasons behind this raise are the company’s stable liquidity position and expected synergies from the recent...
Wall Street Journal
Dec 12
Comment
Many companies that collect mortgage payments hire outside firms to train employees. But Ocwen Financial, which specializes in risky loans, has its own team of social psychologists.
Benzinga
Nov 16
Comment
According to Piper Jaffray, Ocwen Financial (NYSE: OCN) Overweight rating is maintained.
Piper Jaffray said that it is adjusting its estimates based on OCN's recently announced deal to acquire servicing rights with $15B (82K loans) of UPB from...
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more ▼WIKI ANALYSIS
WIKI ANALYSIS
Ocwen Financial Corporation (OCN) is a financial services company based in West Palm Beach, Florida, whose main business is the servicing of residential and commercial mortgage loans.
Business Overview
Business & Financial Metrics[1]
In 2009, OCN generated a net income of $272 thousand on revenues of $380.7 million. This represents a 97.9% plummet in net income and a 22.6% drop in revenue from 2008, when the company earned $13.2 million on $492.1 million in revenue.
Business Segments[2]
OCN operates through six reportable segments which are grouped into two lines of business.
Ocwen Asset Management
- Servicing (71.3% of 2009 revenue): This segment provides loan servicing to owners of subprime residential mortgages.[3]
- Loans and Residuals (no 2009 revenue): This segment trades and invests in real estate. It once included the company's now-defunct subprime loan origination operations.[3]
- Asset Management Vehicles (AMV) (0.4% of 2009 revenue): OCN owns 25% equity in both OSI and ONL which manage residential real estate.[3]
Ocwen Solutions
- Mortgage Services (14.2% of 2009 revenue): This segment provides services like due diligence, property valuation, real estate sales, property inspection, and others for mortgage issuers.[3]
- Financial Services (10.6% of 2009 revenue): This segment provides services for managing asset recovery and customer relationships. Its customers include financial service firms, telecommunications companies, and utilities.[3]
- Technology Products (3.2% of 2009 revenue): This segment includes revenues from the company's REAL software applications that are used for residential loan servicing.[3]
Competition
OCN's primary competitor is FirstCity Financial (FCFC).
References
- ↑ OCN 2009 10-K pg. 24
- ↑ OCN 2009 10-K pg. 6
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 OCN 2009 10-K pg. F-44
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