Ocwen

Ocwen Financial Announces Full Year and Fourth Quarter 2022 Results

Retrieved on: 
Tuesday, February 28, 2023
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The Company reported GAAP net loss of $80 million for the fourth quarter, a decline of $117 million compared to the third quarter of 2022.

Key Points: 
  • The Company reported GAAP net loss of $80 million for the fourth quarter, a decline of $117 million compared to the third quarter of 2022.
  • The Company also reported an adjusted pre-tax loss of $3 million, an improvement of $5 million compared to the third quarter of 2022 (see “Note Regarding Non-GAAP Financial Measures” below).
  • Fourth quarter results reflect lower interest rates and lower correspondent and co-issue margins compared to the third quarter.
  • Glen A. Messina, Chair, President and CEO of Ocwen, said, “I am proud of the results we delivered in 2022 despite a volatile mortgage environment.

PHH Mortgage Honored by Freddie Mac for Superior Loan Servicing

Retrieved on: 
Tuesday, February 21, 2023
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WEST PALM BEACH, Fla., Feb. 21, 2023 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company was honored with a 2022 Freddie Mac Servicer Honors and Rewards Program (SHARP)SM Award.

Key Points: 
  • WEST PALM BEACH, Fla., Feb. 21, 2023 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company was honored with a 2022 Freddie Mac Servicer Honors and Rewards Program (SHARP)SM Award.
  • PHH won the Bronze Award for Group 1, which includes companies servicing 200,000 or more Freddie Mac mortgages.
  • “We’re truly honored to be recognized again by Freddie Mac as one of the top performing mortgage servicers in the industry,” said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage.
  • Click here to learn more about the Freddie Mac servicing recognition program.

Ocwen Financial Schedules Conference Call – Fourth Quarter and Full-Year 2022 Results

Retrieved on: 
Friday, February 17, 2023
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WEST PALM BEACH, Fla., Feb. 17, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, February 28, 2023 at 8:30 a.m. (ET) to review the Company’s fourth quarter and full-year 2022 operating results.

Key Points: 
  • WEST PALM BEACH, Fla., Feb. 17, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, February 28, 2023 at 8:30 a.m. (ET) to review the Company’s fourth quarter and full-year 2022 operating results.
  • You can access the conference call by dialing (877) 407-0792 or (201) 689-8263 approximately 10 minutes prior to the call.
  • Participants can also access the conference call through a live audio webcast available from the Shareholder Relations page at www.ocwen.com under Events and Presentations.
  • An investor presentation will accompany the conference call and be available by visiting the Shareholder Relations page at www.ocwen.com prior to the call.

Ocwen Financial President and CEO Glen Messina Appointed as Board Chair

Retrieved on: 
Monday, January 23, 2023
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WEST PALM BEACH, Fla., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that its Board of Directors (the “Board”) has unanimously elected Glen A. Messina as Chair of the Board, effective January 23, 2023.

Key Points: 
  • WEST PALM BEACH, Fla., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that its Board of Directors (the “Board”) has unanimously elected Glen A. Messina as Chair of the Board, effective January 23, 2023.
  • Mr. Messina will continue to serve as President and Chief Executive Officer of Ocwen, a position he has held, along with serving on the Board as a director, since October 2018.
  • Mr. Messina succeeds Phyllis R. Caldwell, who has successfully served as Chair since March 2016 and as a director since January 2015.
  • In accordance with the Company’s Corporate Governance Guidelines and to provide effective oversight and independence of the Board, the Board appointed Kevin Stein as Lead Independent Director.

First Financial Bank, N.A. Names Parker to EVP, Chief Compliance Officer Role

Retrieved on: 
Wednesday, January 18, 2023
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Board of Directors elected Mike Parker as Executive Vice President and Chief Compliance Officer.

Key Points: 
  • Board of Directors elected Mike Parker as Executive Vice President and Chief Compliance Officer.
  • Parker brings more than 15 years of compliance experience to First Financial, including his most recent post as a director of compliance governance with USAA Federal Savings Bank.
  • Parker, who has worked with USAA since March 2020, has also held positions with Capital One and Ocwen Financial Corporation in compliance and audit director roles.
  • Parker began his banking career in 2005 as an examiner with the Federal Reserve Bank of Richmond, where he specialized in compliance.

Ocwen Financial Schedules Conference Call – Third Quarter 2022 Results and Business Update

Retrieved on: 
Wednesday, October 26, 2022
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WEST PALM BEACH, Fla., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, November 3, 2022 at 8:30 a.m. (ET) to review the Companys third quarter 2022 operating results and provide a business update.

Key Points: 
  • WEST PALM BEACH, Fla., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, November 3, 2022 at 8:30 a.m. (ET) to review the Companys third quarter 2022 operating results and provide a business update.
  • You can access the conference call by dialing (800) 458-4121 or (646) 828-8193 approximately 10 minutes prior to the call.
  • Participants can also access the conference call through a live audio webcast available from the Shareholder Relations page at www.ocwen.com under Events and Presentations.
  • Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.

PHH Mortgage Names Industry Veteran Michael Keaton as Senior Vice President of Default Subservicing

Retrieved on: 
Monday, October 17, 2022
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WEST PALM BEACH, Fla., Oct. 17, 2022 (GLOBE NEWSWIRE) -- PHH Mortgage Corporation (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced that Michael Keaton has joined the Company as Senior Vice President, Default Subservicing.

Key Points: 
  • WEST PALM BEACH, Fla., Oct. 17, 2022 (GLOBE NEWSWIRE) -- PHH Mortgage Corporation (PHH or the Company), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced that Michael Keaton has joined the Company as Senior Vice President, Default Subservicing.
  • Mr. Keaton brings to PHH more than 30 years of sales and operational experience in mortgage servicing and subservicing.
  • Prior to this role, Mr. Keaton held several executive-level roles in mortgage servicing and default loan administration at Resurgent Capital Services and Wendover Financial Services.
  • Prior to joining Shellpoint, Mr. Keaton held several executive-level roles at Resurgent Capital Services between 2002 and 2014, including Vice President of Loan Servicing, Senior Vice President of Bankruptcy Servicing and Executive Vice President of Mortgage Servicing and Recovery.

Arbitration Panel Awards Divorced Spouse Nearly $2 Million for Being Refused Loss Mitigation

Retrieved on: 
Friday, October 21, 2022
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CHICAGO, Oct. 21, 2022 /PRNewswire/ -- Consumer lawyers Nick Wooten, Rusty A. Payton, and Adam J. Feuer, have obtained a substantial verdict for their client in a consumer fraud case against PHH Mortgage Services, a wholly owned subsidiary of Ocwen Financial Corporation. Ocwen denied the consumer loss mitigation and refused to follow Freddie Mac guidelines to assist homeowners going through a divorce.

Key Points: 
  • Ocwen denied the consumer loss mitigation and refused to follow Freddie Mac guidelines to assist homeowners going through a divorce.
  • "Our client was mistreated for nearly five years because Ocwen simply refuses to follow the law.
  • "Ocwen then dangled an offer of help and received payments intended for loss mitigation only to later snatch the offer away.
  • Divorcing couples have a right to loss mitigation and loan modifications in the name of the borrower retaining the home.

Terry Smith joins Operation Homefront's National Board of Directors

Retrieved on: 
Tuesday, October 18, 2022
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SAN ANTONIO, Oct. 18, 2022 /PRNewswire-PRWeb/ -- Operation Homefront, the national nonprofit celebrating 20 years of serving America's military families, has appointed Terry Smith to its national board of directors.

Key Points: 
  • SAN ANTONIO, Oct. 18, 2022 /PRNewswire-PRWeb/ -- Operation Homefront , the national nonprofit celebrating 20 years of serving America's military families, has appointed Terry Smith to its national board of directors.
  • "I am thrilled to have Terry join our very talented board of directors," said Brig Gen (ret) John I. Pray, Jr., President and CEO of Operation Homefront.
  • "I'm incredibly honored and humbled to join the board leadership team supporting Operation Homefront," said Terry Smith.
  • For three years, Terry Smith has chaired the Veterans Financial Services Advisory Council, raising over $366,000 for Operation Homefront.

Ocwen Financial Comments On New Financial Eligibility Requirements Announced by FHFA and Ginnie Mae

Retrieved on: 
Friday, September 9, 2022
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WEST PALM BEACH, Fla. , Sept. 09, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company), a leading non-bank mortgage servicer and originator, issued the following statement in response to the minimum financial eligibility requirements for enterprise seller/servicers and Ginnie Mae issuers announced by the Federal Housing Finance Agency (FHFA) and Ginnie Mae (GNMA).

Key Points: 
  • WEST PALM BEACH, Fla. , Sept. 09, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company), a leading non-bank mortgage servicer and originator, issued the following statement in response to the minimum financial eligibility requirements for enterprise seller/servicers and Ginnie Mae issuers announced by the Federal Housing Finance Agency (FHFA) and Ginnie Mae (GNMA).
  • We are having discussions with GNMA with respect to their risk-based capital requirements, which take effect at year-end 2023.
  • We are evaluating our alternatives, as well as the costs and benefits of achieving compliance with the GNMA risk-based capital requirements.
  • Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.