Ocwen Financial

Ocwen Financial Corp. is a financial services holding company, which engages in the servicing and origination of mortgage loans through its subsidiaries. It operates through the following business segments: Servicing, Lending, and Corporate Items and Other. The Servicing segment engages in the residential servicing business, which offers residential and commercial mortgage loan servicing, special servicing, and asset management services. The Lending segment is involved in originating and purchasing conventional and government-insured residential forward and reverse mortgage loans mainly through correspondent lending arrangements, broker relationships and directly with mortgage customers. The Corporate Items and Other segment includes revenues and expenses that are not directly related to other reportable segments. The company was founded in February 1988 and is headquartered in West Palm Beach, FL.

Earnings data Q3 2020

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Earnings data Q1 2024

Earnings data Q2 2024

Ocwen Financial reports mixed Q4 results, focuses on growth strategies

Ocwen Financial navigated a challenging Q4 with a focus on cost reduction, portfolio growth, and capital management for stability and growth.
Despite market headwinds, the company's strong expense efficiency, industry recognition, and growth strategies position it for future profitability.
Management's emphasis on stable returns, market recognition, and strategic investments underscores Ocwen Financial's resilience and growth potential.

Ocwen Financial reports Q1 results, focuses on risk management strategies

Ocwen Financial navigates Q1 2023 with a focus on managing interest rate risk exposure and optimizing its financial structure. Legal wins and a strategic business approach contribute to stability amidst market challenges. Proactive risk management and a strong liquidity position position the company for growth opportunities.

Ocwen Financial reports solid Q2 earnings, eyes growth opportunities

Ocwen Financial's Q2 earnings call highlighted a strong financial performance, cost reduction efforts, and focus on expanding in the correspondent sector. Challenges in the reverse space and uncertainties in asset purchases were noted, while opportunities exist in growing the customer base and capitalizing on potential industry shifts.

Ocwen Financial reports solid Q3 earnings, eyes subservicing growth

Ocwen Financial's Q3 performance reflects profitability in servicing and originations, with a focus on cost management and debt reduction.
The company's strengths include a diversified business model, strong operational performance, and expanding capital partner relationships.
Challenges include balancing MSR ownership, market environment navigation, and optimizing leverage profile.
Opportunities lie in expanding subservicing, enhancing profitability, and developing investor relationships for sustained growth.

Ocwen Financial reports improved Q4 income, eyes subservicing growth

Ocwen Financial's Q4 2023 Earnings Call highlighted improved adjusted pretax income, focus on managing MSR fair value changes, and strategic initiatives for profitability enhancement. The company aims to aggressively grow its subservicing business, reduce servicing advances, and optimize its capital structure. Opportunities in the reverse mortgage market and deleveraging through debt repurchases were key points.

Ocwen Financial excels in Q1, rebrands to Onity Group

Ocwen Financial's Q1 2024 earnings call highlighted strong financial performance, strategic transformation, and recognition from Moody's for profitability gains. The company's focus on subservicing growth, technology, and deleveraging aligns with its goal of delivering sustainable value to shareholders.

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Onity Group, Inc. is a financial services holding company, which engages in the servicing and origination of mortgage loans through its subsidiaries. It operates through the following business segments: Servicing, Lending, and Corporate Items and Other. The Servicing segment engages in the residential servicing business, which offers residential and commercial mortgage loan servicing, special servicing, and asset management services. The Lending segment is involved in originating and purchasing conventional and government-insured residential forward and reverse mortgage loans mainly through correspondent lending arrangements, broker relationships and directly with mortgage customers. The Corporate Items and Other segment includes revenues and expenses that are not directly related to other reportable segments. The company was founded in February 1988 and is headquartered in West Palm Beach, FL.

WEST PALM BEACH, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it has officially started operating under its new brand name effective Monday, June 10, 2024, replacing its former name, Ocwen Financial Corporation.

Ocwen Financial Officially Rebrands as Onity™ Group

New name and NYSE trading symbol (“ONIT”) expected to be effective June 10, 2024 PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024

Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group

Ocwen Financial (OCN) came out with quarterly earnings of $1.74 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to loss of $0.16 per share a year ago.

Ocwen Financial (OCN) Tops Q1 Earnings Estimates

Ocwen Financial Corporation (NYSE:OCN ) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Dico Akseraylian - SVP, Corporate Communications Glen Messina - Chair and CEO Sean O'Neil - CFO Conference Call Participants Bose George - KBW Matthew Howlett - B. Riley Eric Hagen - BTIG Dico Akseraylian Good morning, and thank you for joining us for Ocwen's First Quarter 2024 Earnings Call.

Ocwen Financial Corporation (OCN) Q1 2024 Earnings Call Transcript

WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its first quarter 2024 results and provided a business update.

Ocwen Financial Announces First Quarter 2024 Results

Ocwen (OCN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Ocwen Financial (OCN) Earnings Expected to Grow: Should You Buy?

WEST PALM BEACH, Fla., April 24, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, May 2, 2024 at 8:30 a.m. (ET) to review the Company's first quarter 2024 operating results and provide a business update.

Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update

Ocwen (OCN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Can Ocwen (OCN) Keep the Earnings Surprise Streak Alive?

Name change proposal to be submitted for approval at upcoming Annual Meeting of Shareholders New name embodies the Company's transformation into a balanced and diversified business Ocwen subsidiary PHH Mortgage expected to rebrand to Onity Mortgage later this year WEST PALM BEACH, Fla., April 03, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced plans to change its name to Onity Group Inc. The Company will submit a proposal to effect the name change at its Annual Meeting of Shareholders scheduled for May 28, 2024.

Ocwen Financial Announces Intention to Rebrand as Onity™ Group

Phyllis Caldwell Will Not Stand for Re-election at 2024 Annual Meeting of Shareholders Phyllis Caldwell Will Not Stand for Re-election at 2024 Annual Meeting of Shareholders

Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors

Federal Agricultural

PennyMac Financial Services

The Zacks Mortgage & Related Services industry players benefit from expected rate cuts, low competition from banks and strong servicing business. PennyMac Financial Services (PFSI), Federal Agricultural Mortgage (AGM) and Ocwen Financial (OCN) look well-placed for growth.

3 Mortgage & Related Services Stocks to Buy on Industry Recovery

The heavy selling pressure might have exhausted for Ocwen (OCN) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

Down -16.81% in 4 Weeks, Here's Why You Should You Buy the Dip in Ocwen (OCN)

WEST PALM BEACH, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae's 2023 Servicer Total Achievement and Rewards™ (STAR™) Performer recognition.

PHH Mortgage Recognized by Fannie Mae as a 2023 Star Performer

Ocwen (OCN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Ocwen (OCN) Upgraded to Buy: What Does It Mean for the Stock?

Ocwen Financial Corporation (OCN) Q4 2023 Earnings Call Transcript

Ocwen Financial (OCN) came out with quarterly earnings of $1.44 per share, beating the Zacks Consensus Estimate of $1.09 per share. This compares to loss of $3.35 per share a year ago.

Ocwen Financial (OCN) Q4 Earnings and Revenues Top Estimates

WEST PALM BEACH, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its full year and fourth quarter 2023 results and provided a business update.

Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results

WEST PALM BEACH, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, February 27, 2024 at 8:30 a.m. (ET) to review the Company's fourth quarter and full year 2023 operating results.

Ocwen Financial Schedules Conference Call – Fourth Quarter and Full Year 2023 Results

Ocwen (OCN) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

Fast-paced Momentum Stock Ocwen (OCN) Is Still Trading at a Bargain

LendingTree

Despite high mortgage rates and low origination volumes, AGM, TREE and OCN are set to hold ground on robust servicing opportunities and a focus on improving operating leverage.

3 Mortgage & Related Services Stocks to Watch Amid Ongoing Woes

Why Fast-paced Mover Ocwen (OCN) Is a Great Choice for Value Investors

Agreement expands existing correspondent relationship to strategic servicing partner Initial onboarding of loans completed in August 2023 WEST PALM BEACH, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- PHH Mortgage Corporation (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced that it has entered into a mortgage subservicing agreement with Zillow Home Loans, LLC (“Zillow Home Loans”).

PHH Mortgage Announces New Subservicing Agreement With Zillow Home Loans

Ocwen Financial Corporation (NYSE:OCN ) Q3 2023 Results Conference Call November 7, 2023 8:30 AM ET Company Participants Dico Akseraylian - SVP, Communications Glen Messina - CEO, President and Chair of the Board Sean O'Neil - EVP and CFO Conference Call Participants Bose George - KBW Kyle Joseph - Jefferies Eric Hagen - BTIG Matthew Howlett - B. Riley Operator Good morning, ladies and gentlemen, and welcome to the Ocwen Financial Corporation Third Quarter Earnings and Business Update Conference Call.

Ocwen Financial Corporation (OCN) Q3 2023 Earnings Call Transcript

WEST PALM BEACH, Fla., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its third quarter 2023 results and provided a business update.

Ocwen Financial Announces Third Quarter 2023 Results

WEST PALM BEACH, Fla., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, November 7, 2023 at 8:30 a.m. (ET) to review the Company's third quarter 2023 operating results and provide a business update.

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