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.
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.
OCN operates through six reportable segments which are grouped into two lines of business.
OCN's primary competitor is FirstCity Financial (FCFC).