Welcome to our dedicated page for Ocwen Financial Corporation news (Ticker: OCN), a resource for investors and traders seeking the latest updates and insights on Ocwen Financial Corporation stock.
The OCN news page on Stock Titan provides an archive of announcements and disclosures related to Ocwen Financial Corporation, a non-bank mortgage servicer and originator that later rebranded as Onity Group Inc. and began trading on the NYSE under the symbol ONIT. These news items offer context on how the company described its mortgage servicing, subservicing and originations activities, as well as its strategic evolution and branding decisions.
News releases for OCN include company statements on financial results, business updates and strategic plans. Examples from the period before the name change highlight Ocwen’s focus on servicing performance, mortgage servicing rights management, originations activity, and its positioning as a non-bank mortgage servicer and originator operating through PHH Mortgage and Liberty Reverse Mortgage. Other announcements describe the intention to rebrand as Onity Group Inc., the shareholder approval of the name change, and the effective date for trading under the ONIT ticker.
After the rebranding, news under the Onity name continues to reference the same underlying business, including its role as a non-bank mortgage servicer and originator and its global operations footprint. For users analyzing historical developments, this page helps connect earlier Ocwen-branded communications with later Onity-branded updates that reference the same corporate entity.
Investors and researchers can use this OCN news archive to review how the company presented its mortgage servicing and originations strategy over time, how it described its transformation into a balanced and diversified mortgage company, and how the transition from OCN to ONIT was communicated. Bookmark this page as a starting point for historical news and then follow the ONIT symbol for ongoing announcements from Onity Group Inc.
Ocwen Financial Corporation (NYSE: OCN) announced a favorable ruling from the Eleventh Circuit Court on April 6, 2022, related to the Consumer Financial Protection Bureau’s (CFPB) appeal. The court supported Ocwen's position that the CFPB cannot bypass a prior settlement agreement. The ruling indicates that the CFPB's claims must be assessed individually, allowing Ocwen to challenge the remaining allegations. This decision underscores Ocwen's commitment to defending its interests against the CFPB's claims originating from the 2014 consent judgment.
Ocwen Financial Corporation (NYSE: OCN) reported significant growth in its subservicing business, achieving a 45% year-over-year increase in subservicing volume. In 2021, the company added $56 billion in unpaid principal balance (UPB) and serviced approximately 1.4 million loans totaling $268 billion. PHH Mortgage, a subsidiary, garnered customer commitments worth $35 billion for 2022. PHH was recognized for performance excellence, outperforming industry averages in multiple areas.
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Ocwen Financial Corporation (NYSE: OCN) reported a net income of $18 million for the full year 2021, maintaining strong performance with $152 billion in total servicing additions. The fourth quarter saw an adjusted pre-tax income of $10 million, marking the ninth consecutive quarter of positive adjusted pre-tax results. Key highlights include a 172% increase in correspondent channel volume and a 42% year-over-year growth in total servicing portfolio, reaching $268 billion. The company completed the acquisition of RMS, positioning itself for substantial growth in the reverse mortgage sector.
Ocwen Financial Corporation (NYSE: OCN) announced that its subsidiary, PHH Mortgage, received the Gold Award from the 2021 Freddie Mac Servicer Honors and Rewards Program (SHARP). This recognition highlights PHH as the top performer among companies servicing over 200,000 Freddie Mac mortgages. The award acknowledges superior servicing, outstanding customer service, and effective delinquency management. Scott Anderson, Executive Vice President at PHH, emphasized the award's reflection of their team's commitment to excellence in mortgage servicing.
Ocwen Financial Corporation (NYSE: OCN) announced a conference call on February 25, 2022, at 8:30 a.m. (ET) to discuss its fourth-quarter 2021 results and provide a business update. Interested participants can join by dialing (877) 407-0792 or (201) 689-8263. The call will also be accessible via a live audio webcast on the company's Shareholder Relations page. An investor presentation will accompany the call and be available online prior. A replay of the call will be accessible about two hours later for 30 days.
Ocwen Financial Corporation (NYSE: OCN) announced an extension of its partnership with the NAACP to host over 55 borrower outreach events in 2022, responding to ongoing mortgage payment challenges faced by homeowners. Following more than 90 events during the pandemic, these gatherings will provide mortgage assistance information and opportunities for one-on-one consultations with housing counselors. Since March 2020, PHH Mortgage has aided over 200,000 borrowers with mortgage forbearance and helped more than 1.5 million homeowners avoid foreclosure, forgiving approximately $19 billion in mortgage debt.
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Ocwen Financial Corporation (NYSE: OCN) reported a third-quarter net income of $22 million and earnings per share of $2.35, recovering from a net loss of $9 million in the previous year. Adjusted pre-tax income reached $37 million, marking the eighth consecutive quarter of profitability. The company saw substantial growth in servicing additions, up 77% year-over-year, and significant increases in correspondent and consumer direct volumes, up 179% and 61%, respectively. Their total servicing portfolio increased to $248 billion, representing a 38% year-over-year growth.
Ocwen Financial Corporation (NYSE: OCN) will host a conference call on November 8, 2021, at 8:30 a.m. ET to discuss its third quarter 2021 operating results and provide a business update. Participants can join by calling (877) 407-0792 or via a live audio webcast through the Shareholder Relations page on Ocwen's website. An investor presentation will precede the call and be available online. A replay will be accessible approximately two hours post-call for 30 days. Ocwen operates under the brands PHH Mortgage and Liberty Reverse Mortgage.