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

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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.

Completes agreement with Oaktree for incremental $250 million investment to acquire additional MSRs through MSR Asset Vehicle Completes agreement with Oaktree for incremental $250 million investment to acquire additional MSRs through MSR Asset Vehicle

Ocwen Financial Announces Third Quarter 2022 Results

WEST PALM BEACH, Fla., Oct. 26, 2022 (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, November 3, 2022 at 8:30 a.m. (ET) to review the Company's third quarter 2022 operating results and provide a business update.

Ocwen Financial Schedules Conference Call – Third Quarter 2022 Results and Business Update

30 years of experience in mortgage subservicing and default servicing

PHH Mortgage Names Industry Veteran Michael Keaton as Senior Vice President of Default Subservicing

WEST PALM BEACH, Fla. , Sept. 09, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, issued the following statement in response to the minimum financial eligibility requirements for enterprise seller/servicers and Ginnie Mae issuers announced by the Federal Housing Finance Agency (“FHFA”) and Ginnie Mae (“GNMA”).

Ocwen Financial Comments On New Financial Eligibility Requirements Announced by FHFA and Ginnie Mae

Ocwen Financial Corporation remains sturdy amidst headwinds with its well-balanced business model. Revenue growth is hammered, but margins and cash inflows are stable.

Ocwen: Fundamental Stability And Strategy Amidst Market Volatility

Ocwen Financial Corporation (NYSE:OCN ) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET Company Participants Dico Akseraylian - SVP, Corporate Communications Glen Messina - President & CEO Sean O'Neil - EVP & Chief Financial Officer Conference Call Participants Eric Hagen - BTIG Matthew Howlett - B. Riley Thomas McJoynt - KBW Preston Graham - Stonegate Capital Operator Operator (Operator) Good morning, and welcome to the Ocwen Financial Corporation Second Quarter Earnings and Business Update Conference Call.

Ocwen Financial Corporation (OCN) CEO Glen Messina on Q2 2022 Results - Earnings Call Transcript

WEST PALM BEACH, Fla., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its second quarter 2022 results and provided an update on the Company's key business priorities.

Ocwen Financial Announces Second Quarter 2022 Results

Velocity Financial

Walker & Dunlop

Despite a rise in mortgage rates and fading origination volumes, WD, VEL, OCN are set to hold ground on robust servicing opportunities and focus on improving operating leverage.

3 Stocks to Watch From the Mortgage & Related Services Industry

WEST PALM BEACH, Fla., July 25, 2022 (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, August 4, 2022 at 8:30 a.m. (ET) to review the Company's second quarter 2022 operating results and provide a business update.

Ocwen Financial Schedules Conference Call – Second Quarter 2022 Results and Business Update

WEST PALM BEACH, Fla., June 28, 2022 (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, announced today that it has entered into an agreement with Federal Home Loan Bank of Indianapolis (“FHLBank Indianapolis”) to purchase mortgage servicing rights (“MSRs”) through its Mortgage Purchase Program (“MPP”).

PHH Mortgage Announces Agreement With Federal Home Loan Bank of Indianapolis to Purchase Mortgage Servicing Rights

WEST PALM BEACH, Fla., May 23, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that on May 20, 2022, its Board of Directors authorized a share repurchase program for an aggregate amount of up to $50.0 million of the Company's issued and outstanding shares of common stock.

Ocwen Board of Directors Authorizes $50 Million Share Repurchase Program

WEST PALM BEACH, Fla., May 18, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced the appointment of Sean O'Neil as Executive Vice President and Chief Financial Officer, effective June 13, 2022.

Ocwen Financial Appoints Sean O'Neil Executive Vice President and Chief Financial Officer

Ocwen Financial Corporation (NYSE:OCN ) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Glen Messina – President & Chief Executive Officer June Campbell – Executive Vice President, Chief Financial Officer Dico Akseraylian – Senior Vice President, Corporate Communications Conference Call Participants Eric Hagen – BTIG Matthew Howlett – B. Riley Preston Graham – Stonegate Drew Mackintosh – Mackintosh Investor Relations Operator Good day.

Ocwen Financial Corporation (OCN) CEO Glen Messina on Q1 2022 Results - Earnings Call Transcript

WEST PALM BEACH, Fla., May 05, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its first quarter 2022 results and provided an update on the Company's key business priorities.

Ocwen Financial Announces First Quarter 2022 Results

WEST PALM BEACH, Fla., April 27, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced preliminary results for the first quarter of 2022 and scheduled an earnings conference call for Thursday, May 5 at 8:30 a.m. (ET).

Ocwen Financial Announces Preliminary First Quarter 2022 Results and Schedules Earnings Conference Call

Ocwen (OCN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Ocwen Financial (OCN) Q1 Earnings Expected to Decline

WEST PALM BEACH, Fla., April 08, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, issued the following statement in response to the ruling issued on April 6, 2022 by the United States Court of Appeals for the Eleventh Circuit regarding the appeal by the Consumer Financial Protection Bureau (“CFPB”).

Ocwen Financial Comments on U.S. Court of Appeals Decision in CFPB Matter

Grew subservicing volume by 45% year over year Grew subservicing volume by 45% year over year

PHH Mortgage Adds $56 Billion in New Subservicing Volume in 2021

Achieved STAR Distinction in All Three Performer Categories Achieved STAR Distinction in All Three Performer Categories

PHH Mortgage Recognized as a 2021 STAR Performer by Fannie Mae

Ocwen Financial Corporation (OCN) CEO Glen Messina on Q4 2021 Results - Earnings Call Transcript

WEST PALM BEACH, Fla., Feb. 25, 2022 (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 2021 results and provided an update on the Company's key business priorities.

Ocwen Financial Announces Full Year and Fourth Quarter 2021 Results

WEST PALM BEACH, Fla., Feb. 18, 2022 (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 Friday, February 25, 2022 at 8:30 a.m. (ET) to review the Company's fourth quarter 2021 operating results and provide a business update.

Ocwen Financial Schedules Conference Call – Fourth Quarter 2021 Results and Business Update

Plan to host more than 55 regional borrower outreach events in 2022 More than 90 borrower outreach events completed since start of COVID-19 pandemic Third consecutive year partnering with NAACP for annual outreach series

PHH Mortgage Renews Partnership With the NAACP to Help Impacted Homeowners and Communities Through Borrower Outreach Series

Ocwen Financial (OCN) to Report Q4 Results: Wall Street Expects Earnings Growth

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