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Ocwen Financial Corp. - OCN STOCK NEWS

Welcome to our dedicated news page for Ocwen Financial (Ticker: OCN), a resource for investors and traders seeking the latest updates and insights on Ocwen Financial.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Ocwen Financial's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Ocwen Financial's position in the market.

News
Ocwen Financial Announces Intention to Rebrand as Onity™ Group
Rhea-AI Summary
Ocwen Financial (NYSE: OCN) plans to change its name to Onity Group Inc. pending shareholder approval at the Annual Meeting of Shareholders. The rebranding reflects the Company's evolution into a diversified business. Subsidiary PHH Mortgage is set to rebrand as Onity Mortgage. The new name is expected to take effect in June 2024, with trading on the NYSE under the symbol 'ONIT'.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.29%
Tags
none
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News
Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors
Rhea-AI Summary
Ocwen Financial appoints Claudia J. Merkle to its Board of Directors, while Phyllis R. Caldwell will not stand for re-election at the 2024 Annual Meeting of Shareholders. Merkle brings extensive industry experience and leadership qualities to the Board.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.52%
Tags
management
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News
PHH Mortgage Recognized by Fannie Mae as a 2023 Star Performer
Rhea-AI Summary
PHH Mortgage, a subsidiary of Ocwen Financial Corporation (NYSE: OCN), has been awarded Fannie Mae’s 2023 Servicer Total Achievement and Rewards (STAR) Performer recognition for the third consecutive year. The company excelled in General Servicing and Solution Delivery categories, showcasing its dedication to excellence in mortgage servicing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.04%
Tags
none
News
Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results
Rhea-AI Summary
Ocwen Financial Corporation (NYSE: OCN) reported a net loss of $47 million for Q4 2023 but achieved an adjusted pre-tax income of $11 million. The company saw a net loss of $64 million for the full year 2023, primarily due to a reduction in unrealized MSR value change. However, they managed to reduce operating expenses by $120 million compared to 2022. Total liquidity increased by 10% to $242 million as of December 31, 2023. The company highlighted strong servicing performance and growth in adjusted pre-tax income, showcasing their strategic priorities and diversified business model.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.14%
Tags
earnings
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News
Ocwen Financial Schedules Conference Call – Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Ocwen Financial Corporation (OCN) will hold a conference call on February 27, 2024, to discuss its fourth quarter and full year 2023 operating results. Interested parties can access the call via phone or webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.03%
Tags
earnings
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News
PHH Mortgage Announces New Subservicing Agreement With Zillow Home Loans
Rhea-AI Summary
Ocwen Financial Corporation (NYSE: OCN) subsidiary PHH Mortgage Corporation announced a mortgage subservicing agreement with Zillow Home Loans, LLC, completing the initial loan transfer in August 2023. The agreement aligns with PHH's strategy to expand its subservicing portfolio and solidify its position as a premier industry subservicer. As of September 30, 2023, PHH Mortgage's total servicing portfolio was approximately $296 billion, with $167 billion in subservicing. The company received recognition for servicing excellence from Freddie Mac, Fannie Mae, and HUD, making it the most highly decorated servicer in the U.S. over the past two years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.67%
Tags
none
News
Ocwen Financial Announces Third Quarter 2023 Results
Rhea-AI Summary
Ocwen Financial Corporation (NYSE: OCN) reported a net income of $8 million and earnings per share of $1.10 for the third quarter of 2023. Adjusted pre-tax income was $10 million, driven by the servicing segment, achieving a 9% annualized adjusted pre-tax return on equity. Total servicing UPB was $296 billion and total subservicing UPB was $167 billion, up 2% and 6%, respectively, compared to Q2’23. The company also repurchased $14 million in PHH senior secured notes below par.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.67%
Tags
earnings
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News
Ocwen Financial Schedules Conference Call – Third Quarter 2023 Results and Business Update
Rhea-AI Summary
Ocwen Financial Corporation will hold a conference call on November 7, 2023, to review its third quarter 2023 operating results and provide a business update. Interested parties can access the call via dial-in or live audio webcast. An investor presentation will be available prior to the call. A replay of the call will be available on the website for 15 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.35%
Tags
earnings
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News
Liberty Reverse Mortgage Wins National Association Of Mortgage Brokers 2023 Affiliate Of The Year Award
Rhea-AI Summary
Liberty Reverse Mortgage named NAMB's 2023 Affiliate Company of the Year for their excellence in delivering reverse mortgage education and supporting NAMB members.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.25%
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none
News
Ocwen Financial Announces Second Quarter 2023 Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.87%
Tags
earnings
Stock OCN logo
Ocwen Financial Corp.

NYSE:OCN

OCN Rankings

#3846 Ranked by Market Cap
#3707 Ranked by Stock Gains
N/A Ranked by Dividends

OCN Stock Data

181.20M
5.74M
15.2%
53.3%
0.42%
Savings Institutions
Finance and Insurance
Link
US
West Palm Beach

About OCN

helping homeowners is what we do!® consider joining us to help fulfill our mission of helping homeowners. as an ocwen team member, your mission is to delight the customers or co-workers you serve through caring service and innovative solutions. our talented, diverse team members are dedicated to helping the homeowners and investors we serve. as an industry leader in foreclosure prevention and loss mitigation, ocwen has completed over 776,700 loan modifications, over 318,000 home affordable modification program (hamp) sponsored modifications, 49% more than the next highest servicer. each team member, regardless of their role, is proud of ocwen’s focus on helping families stay in their homes and improving financial outcomes for investors. ocwen financial corporation is a financial services holding company which, through our subsidiaries, is one of the largest mortgage companies in the united states. our primary business is mortgage loan servicing and origination. homeward residentia