Items Tagged with 'Ocwen'

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Compass Point: Buy Ocwen now, company is ready to grow

Financial analyst upgrades nonbank, raises price targets
Things are looking up, just a bit, for Ocwen Financial. As a result of some recent moves, Ocwen’s stock rose over the last few months, and according to a new report from Compass Point Research & Trading, the stock is going to continue to rise and the time to buy is now.
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ICYMI: Ocwen given OK to move forward on 17,000 foreclosures

What happened with Metric 31?
In case you missed it, in the most recent third and fourth quarter 2015 oversight report from Joseph Smith, monitor of the National Mortgage Settlement, Ocwen Financial got the official go-ahead to lift a foreclosure sale hold placed on more than 17,000 loans earlier this year. The story dates back to a report first released in October 2015, which was not fully corrected by the time the April 2016 report came out.
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Ocwen fixes previous settlement failures, faces two new failed tests

"There is still work to be done"
Right as Ocwen Financial fixed previous compliance failures, the servicer is hit with two new compliance failures, according to the latest oversight report on Ocwen from Joseph Smith, monitor of the National Mortgage Settlement. Although the report shows improvement for the servicer: "there is still work to be done for Ocwen to fully comply with the National Mortgage Settlement."
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Monday Morning Cup of Coffee: Judge tosses Ocwen, Altisource kickback lawsuit

Calls alleged actions "extremely troubling," but says case doesn’t hold up
It’d be pretty safe to say that Ocwen Financial struggled the past few years. But, the company got a little bit of good news last week, when a judge dismissed a lawsuit accusing Ocwen and Altisource Portfolio Solutions of overcharging homeowners for service. The question now becomes are the company’s next steps forward? Backward? Or right into the eye of another storm? All that and more in your Monday Morning Cup of Coffee.
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Washington hits Ocwen with fine for using unlicensed offshore companies

Ocwen to pay $900,000; only use licensed entities to service Washington loans
Ocwen Financial will pay $900,000 to the state of Washington after an investigation conducted by the state found that Ocwen used unlicensed companies in India and the Philippines to service mortgages, the state’s financial regulator announced Thursday. Here are the details.
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Ocwen rising: S&P upgrades nonbank's servicer rankings

Stock soars after ratings agency reveals positive outlook
Last month, HousingWire pondered if there was a light at the end of the tunnel for Ocwen Financial after the nonbank posted another loss in the second quarter, with company executives stating a belief that the nonbank can return to profitability as it puts "legacy" issues behind it. Now, Ocwen is putting one of those issues in the rear view mirror, as Standard & Poor's is upgrading the nonbank’s servicer rankings.
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SEC filing details Ocwen's efforts to rid itself of California mortgage servicing restrictions

With monitor costs mounting, Ocwen moves to settle
Ocwen Financial revealed Wednesday that it is attempting to rid itself of the business restrictions placed upon it by the California Department of Business Oversight, but a Thursday filing with the Securities and Exchange Commission details just how those negotiations are going and why Ocwen is trying to buy its way out of the settlement.
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Is there a light at the end of the tunnel for Ocwen?

Company takes loss in 2nd quarter as it tries to move past "legacy" issues
True to its own predictions from earlier in the year, Ocwen Financial posted another loss in the second quarter, putting it on track to post a loss in 2016. But is there finally a light at the end of the tunnel for the nonbank?
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Ocwen stock soars on layoff report

Company fulfills promises to bring down costs
As first reported by HousingWire on Thursday, Ocwen decided to layoff 120 of its employees in order to move its reconstruction efforts forward. Today, Ocwen’s stock increased substantially. Here are the details.
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