Last $6.12 USD
Change Today +0.35 / 6.07%
Volume 9.2M
OCN On Other Exchanges
New York
As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

ocwen financial corp (OCN) Key Developments

Ocwen Seeks To Sell Mortgage Servicing Rights

Ocwen Financial Corp. (NYSE:OCN) is looking for buyers for two packages of mortgage servicing rights, totaling about $10 billion in unpaid principal balance. Ocwen has not hired an adviser to manage the potential sales, according to Inside Mortgage Finance News, citing investment banking advisors claiming to have knowledge of the matter.

Ocwen Financial Corp. Announces Board Appointments

Ocwen Financial Corporation announced that it has named two new independent directors to its Board of Directors. Phyllis R. Caldwell, Vice Chair of Community Preservation and Development Corporation and DeForest Blake Soaries, Jr., Senior Pastor, First Baptist Church of Lincoln Gardens, New Jersey, have joined Ocwen's Board. Phyllis R. Caldwell is a finance and economic development advisor and was previously Chief, Homeownership Preservation Office at the U.S. Department of the Treasury, responsible for oversight of the U.S. housing market stabilization, economic recovery and foreclosure prevention initiatives established through the Troubled Asset Relief Program.

Ocwen Financial Corp. - Special Call

To discuss the terms of the settlement with the New York department of financial services

Ocwen Financial Announces Board Changes

Ocwen Financial confirmed that its executive chairman, William Erbey, will resign as part of a legal settlement with New York's financial regulator. Erbey is expected to resign effective Jan. 16, 2015 as part of a wide-ranging proposed consent order with the New York Department of Financial Services. Barry Wish, a current director of OCN, will assume the role of non-executive chairman on that date.

OCN Eyes Acquisitions

Ocwen Financial Corp. (NYSE:OCN) is looking for acquisition opportunities. Ronald Faris, Chief Executive Officer and President of OCN, said, we believe that in the near-term there will be limited opportunity to acquire MSRs that meet our return parameters.


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OCN:US $6.12 USD +0.35

OCN Competitors

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Company Last Change
Flagstar Bancorp Inc $14.21 USD -0.39
Home Loan Servicing Solutions Ltd $12.06 USD -0.23
Nationstar Mortgage Holdings Inc $25.71 USD +0.01
PHH Corp $24.94 USD -0.14
Walter Investment Management Corp $15.07 USD +0.06
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Industry Average

Valuation OCN Industry Range
Price/Earnings 4.3x
Price/Sales 0.3x
Price/Book 0.5x
Price/Cash Flow 1.6x
TEV/Sales NM Not Meaningful

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