Ocwen’s road ahead: Well, can't get any worse

Ocwen’s road ahead: Well, can't get any worse

Fall down seven times, get up eight?

Monday Morning Cup of Coffee: What’s the diagnosis for the "sick" housing market?

Still, confidence remains high

6 secrets to dealing with regulations for mortgage servicers

A candid look from the perspective of 2 recovering regulators
W S

Items Tagged with 'Ocwen'

ARTICLES

NASDAQ to delist Home Loan Servicing Solutions

Next shoe in New Residential deal drops
Ben Lane
The next shoe has dropped in New Residential Investment’s acquisition of Home Loan Servicing Solutions. The company announced late Friday that it received a letter earlier in the week from NASDAQ, which stated that the stock exchange is delisting Home Loan Servicing Solutions, effective at the opening of business April 29, 2015.
Read More

Altisource Portfolio Solutions' net income plummets 91%

Cites increased expenses related to "terminated employees and contractors"
Ben Lane
Altisource Portfolio Solutions saw its net income plummet by 91% in the first quarter of 2015. According to Altisource’s CEO, William Shepro, the drop in income was due in part to $13.6 million in expenses “related to terminated employees and contractors and other out-of-the-ordinary items.”
Read More

Ocwen announces amendment to its senior secured term loan

Extends deadline for delivery of audited financial statements to May 29, 2015
Ben Lane
Ocwen Financial announced late Friday that it entered into an amendment on its senior secured term loan that will go into effect on Monday, April 20. According to Ocwen, the amendment “removes, with respect to the 2014 fiscal year, the requirement that Ocwen’s financial statements and the related audit report must be unqualified as to going concern.”
Read More

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults
Ben Lane
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
Read More

Altisource Residential slammed with two class action lawsuits

Investors allege failure to fully disclose risks, conflicts of interest
Trey Garrison
Investors are gathering to launch two salvos at Altisource Residential in the form of class action lawsuits that allege the beleaguered Ocwen affiliate failed to disclose the kinds of risks and losses it to which it was exposing shareholders.
Read More

Ocwen reports loss of $546 million in 2014

Company finally releases much-delayed 2014 results
Ben Lane
Ocwen Financial spent the last few months preparing its investors for the bad news. And the bad news finally came early Tuesday morning. After delaying its fourth quarter and year-end financial results on multiple occasions, Ocwen disclosed Tuesday that it recorded a preliminary net loss of $546 million in 2014.
Read More

Ocwen is no longer the nation's largest subprime mortgage servicer

Impact of exit from agency servicing becoming evident
Ben Lane
The impact of Ocwen Financial’s exit from agency mortgage servicing is beginning to materialize. According to a recent report from Fitch Ratings, Ocwen is no longer the country’s largest prime mortgage servicer. How far have the mighty fallen?
Read More

FBR predicts: New Residential set to boom

HLSS deal, other moves place company in “Top Picks”
Ben Lane
In the aftermath of the $1.2 billion acquisition of Home Loan Servicing Solutions, New Residential Investment is only headed one direction – up. Here's why FBR Capital Markets is calling New Residential a "Top Pick."
Read More

New Residential terminates merger agreement with HLSS; purchases company instead

New deal for $1.2 billion; servicing agreement with Ocwen extended
Ben Lane
After Home Loan Servicing Solutions was unable to meet the previously announced merger conditions with New Residential, the companies terminated the merger agreement. Instead, the companies entered into a purchase agreement, plus the relationship with Ocwen isn't going away anytime soon.
Read More

Altisource Residential moves to pull more mortgage servicing from Ocwen

Company discusses 2015 plans in call with investors
Ben Lane
Citing a desire to decrease its reliance on a single servicer and diversify its risk, Altisource Residential revealed plans to significantly decrease its commitment to Ocwen Financial in 2015. What does it mean for the future of Ocwen?
Read More