Zacks reaffirms Ocwen Financial's neutral rating
Rating held back by market volatility
A Zack's analysts wrote:
“Ocwen’s second-quarter 2013 earnings came in marginally ahead of the Zacks Consensus Estimate. Results benefited from improved top line, partly offset by a surge in expenses. Moreover, the company maintained a strong balance sheet and liquidity position. Though Ocwen remains steadfast on loan modifications and new business acquisitions, market volatility and contraction in subprime MSR market remain the causes of concern.