Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth

Items Tagged with 'Ocwen'


New Residential to repay $2.5B in mortgage servicer advances

S&P downgrades Ocwen, triggers repayment
Citing an “inadvertent” oversight in a previous downgrade of Ocwen Loan Servicing servicer rankings, Standard & Poor’s announced earlier this week that it was lowering its ranking of Ocwen as a residential mortgage master servicer from “above average” to “below average.” And that move triggered a massive payback from New Residential.
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Ocwen cutting 10% of U.S. workforce

Cutbacks at Waterloo, Iowa facility part of cost-cutting initiative
As part of its previously announced cost-cutting initiative, Ocwen Financial announced Thursday that it intends to reduce the size of U.S. workforce by 10%. And while it was not an easy decision for the servicer to make, the CEO said it was necessary to ensure long-term success.
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Freddie Mac sells off $1.1 billion in Ocwen-serviced mortgages

Deeply delinquent non-performing loans sold to multiple buyers
Good news for the winners of Freddie Mac's latest sale. The enterprise announced Wednesday that it selected the winning bidders in the sale of more than $1 billion in non-performing loans that are currently being serviced by Ocwen Loan Servicing. And apparently one of the winning bidders is a frequent buyer of GSE non-performing loans.
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Ocwen now expects to record a loss in 2015

Sets goal to become top 10 residential mortgage lender
Citing lower revenue expectations coupled with higher expected operating, interest and tax expenses, Ocwen Financial now predicts it will post a loss in 2015. It would mark the second straight year with a loss for the once-booming nonbank.
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Judge tosses two shareholder lawsuits against Ocwen Financial

Investors alleged false claims about compliance, business practices
Ocwen Financial Corp. on Friday won the dismissal of two securities class actions that arose from alleged compliance issues related to servicer agreeing to a $150 million settlement in 2014, and now shares of the company are trading higher. Read on.
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Compass Point: Expect things to get worse for Ocwen

Shrinking servicing portfolio will lead to scant profits
As it turns out, there may not be a light at the end of the tunnel for Ocwen Financial, which saw its stock price take a beating last week in the wake of seeing its income from operations in the second quarter fall nearly $100 million from last year. Compass Point analysts weigh in.
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Ocwen tanks in wake of poor second quarter results

Stock drops more than 30% in early trading
After seeing its income from operations in the second quarter fall nearly $100 million from last year and despite the company’s CEO saying that the company “made positive strides on many fronts in the second quarter,” Ocwen Financial is taking a beating on the stock market on Friday. So what's causing Ocwen's drop?
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