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.
Ocwen Financial Corporation (NYSE: OCN), transitioning to Onity Group Inc., is a leading non-bank mortgage servicer specializing in foreclosure prevention and loan modification solutions. This news hub provides investors and industry professionals with essential updates on strategic initiatives, regulatory compliance developments, and operational milestones.
Discover comprehensive coverage of earnings reports, service expansions, and technology investments that drive the company's customer-first approach. Our curated collection includes press releases about PHH Mortgage operations, Liberty Reverse Mortgage updates, and corporate rebranding progress.
Stay informed about OCN's evolving strategies in mortgage servicing and loss mitigation through verified updates on loan modification programs, regulatory filings, and market positioning. This resource eliminates the need to track multiple sources, offering organized access to critical information for investment analysis and industry monitoring.
Bookmark this page for real-time updates on operational developments affecting one of the nation's largest mortgage servicers. Check back regularly for insights into how Onity Group's technology-driven solutions continue shaping the non-bank lending landscape.
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.
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.
Ocwen Financial Corporation (NYSE: OCN) has reported a significant increase in its Correspondent Lending business, showing a 240% rise in origination volume to $10.5 billion during the first nine months of 2021. The annualized volume run-rate reached $21.6 billion in Q3, supported by a growth in its seller base to 700. The company completed the acquisition of Texas Capital Bank’s Correspondent Lending unit, enhancing its capabilities and personnel. New executives have been added to bolster sales operations as Ocwen anticipates setting a new record for origination volume this year.
Ocwen Financial Corporation (NYSE: OCN) announced the completion of its acquisition of RMS's reverse mortgage servicing platform and the equity interests in REO Management Solutions. This strategic move, valued at approximately $12.4 million, significantly expands PHH Mortgage's portfolio to include around 57,000 reverse mortgages totaling $14.3 billion in unpaid principal balance (UPB). PHH will also begin servicing its own portfolio of 34,000 reverse mortgages, estimated at $6.7 billion UPB. This acquisition is expected to enhance Ocwen's capabilities and growth in the reverse mortgage sector.
