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Last $8.20 USD
Change Today -0.05 / -0.61%
Volume 1.8M
OCN On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 04/1/15 All times are local (Market data is delayed by at least 15 minutes).

ocwen financial corp (OCN) Snapshot

Open
$8.24
Previous Close
$8.25
Day High
$8.32
Day Low
$8.03
52 Week High
04/16/14 - $40.44
52 Week Low
01/23/15 - $5.66
Market Cap
1.0B
Average Volume 10 Days
4.7M
EPS TTM
$2.04
Shares Outstanding
125.8M
EX-Date
--
P/E TM
4.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for OCWEN FINANCIAL CORP (OCN)

ocwen financial corp (OCN) Related Businessweek News

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ocwen financial corp (OCN) Details

Ocwen Financial Corporation, through its subsidiaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. This segments residential servicing portfolio includes conventional; government insured; and non-agency loans, such as subprime loans. Ocwen Financial Corporation’s Lending segment is involved in originating and purchasing conventional and government insured residential forward, and reverse mortgage loans primarily through its correspondent lending arrangements, as well as offers direct lending services. The company was founded in 1988 and is headquartered in Atlanta, Georgia.

10,100 Employees
Last Reported Date: 08/18/14
Founded in 1988

ocwen financial corp (OCN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $540.0K
Chief Investment Officer and Executive Vice P...
Total Annual Compensation: $393.9K
Executive Vice President, General Counsel and...
Total Annual Compensation: $242.3K
Senior Vice President of International Tax Pl...
Total Annual Compensation: $166.7K
Compensation as of Fiscal Year 2013.

ocwen financial corp (OCN) Key Developments

Ocwen Financial Corporation Receives Non-Compliance Notice From NYSE

Ocwen Financial Corporation announced that, on March 18, 2015, the company received a deficiency letter from NYSE Regulation, Inc. indicating that the company was not in compliance with the continued listing standards of the New York Stock Exchange as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. As previously disclosed by the company in its Form 12b-25 filed with the Securities and Exchange Commission on March 3, 2015, the company required additional time to complete its goodwill evaluation analysis and its financial closing procedures and to ensure appropriate disclosure of various recent events impacting the company and expected to file the Form 10-K on or before March 17, 2015. The company was unable to file the Form 10-K within the extended time frame permitted under Rule 12b-25. At this time, the company is unable to provide an expected date on which it plans to file its Form 10-K. The company expects that it will need additional time to file its Form 10-K primarily because the company continues to analyze and review Home Loan Servicing Solutions, Ltd.'s (HLSS) ability to continue to meet its obligations to fund new servicing advances. A failure by HLSS to fund new servicing advances could have a material negative impact on the company's financial condition, and the company requires additional time to prepare information related to its ability to operate as a going concern and to provide such information to the auditors for the purposes of their audit of the company's financial statements for the year ended December 31, 2014. The company also continues to prepare other information, such as regulatory, legal and liquidity updates, and to provide such information to the auditors for the purposes of their audit of the company's financial statements for the year ended December 31, 2014. As a result of receiving the deficiency letter from NYSE Regulation, Inc., the company has become subject to the procedures set forth in Section 802.01E of the NYSE Listed Company Manual. NYSE Regulation will closely monitor the status of the company's late filing and related public disclosures for a period of up to six months from the due date of the Form 10-K. If the company fails to file its Form 10-K and all other periodic reports with subsequent due dates within the six months from the filing due date of the Form 10-K, NYSE Regulation may, in its sole discretion, allow the company's securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the Manual. If NYSE Regulation determines it is not appropriate to grant any additional period, suspension and delisting procedures will commence pursuant to Section 804.00 of the Manual. If NYSE Regulation determines that an additional trading period of up to six months is appropriate and the company fails to file the late report and any other reports with subsequent due dates by the end of that period, NYSE Regulation will commence suspension and delisting procedures. Notwithstanding the foregoing, NYSE Regulation may commence delisting proceedings at any time during the period that is available to complete the filing if circumstances warrant. In addition, as a result of the company not filing its Form 10-K by March 23, 2015, the company will be posted to the late filers list on the Listing Standards Filing Status page on the NYSE's website and an LF indicator will be appended to the Profile, Data and News pages of each listed issue.

Ocwen Financial Corp. announced delayed annual 10-K filing

On 03/03/2015, Ocwen Financial Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Ocwen Financial Corp. Expects Write-Off of Goodwill for the Fourth Quarter of 2014

Ocwen Financial Corp. expects write-off of goodwill for the fourth quarter of 2014. The company that its results for the fourth quarter of 2014 will be impacted by a noncash charge to write-off goodwill of $370 million to $420 million and the creation of a $15 million reserve related to a remediation plan to address issues related to borrower correspondence.

 

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Industry Analysis

OCN

Industry Average

Valuation OCN Industry Range
Price/Earnings 6.2x
Price/Sales 0.5x
Price/Book 0.7x
Price/Cash Flow 2.3x
TEV/Sales NM Not Meaningful
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