Ocwen Financial Corporation (OCN)

0.60 2.68
Prev Close 22.35
Open 22.00
Day Low/High 21.78 / 23.23
52 Wk Low/High 17.76 / 41.92
Volume 67.92K
Exchange NYSE
Shares Outstanding 9.25B
Market Cap 201.94M
P/E Ratio 260.70
Div & Yield N.A. (N.A)

Latest News

Just How Far Can Boring Take Us?

We probably won't see the market bounce fizzle until the ho-hum, big-name, blue-chip stocks fizzle first.

Play the Foundation of a Housing Resurgence

Play the Foundation of a Housing Resurgence

These 3 stocks should benefit from increased activity in the domestic housing market.

Buy Ocwen? No Way, Jose!

I've received numerous e-mails over the last few weeks regarding whether to buy some entities in the Ocwen (OCN) complex, particularly Altisource Residential (RESI) and Altisource Asset Management Corp. (AAMC). My answer? No way, Jose! See my latest...

Ocwen's Worrisome 8K

Ocwen (OCN) filed an 8K last evening, and the bottom line is that losses will continue for some time, as the company can't cut expenses fast enough despite the sale of mortgage-servicing assets. Wall Street is still expecting  profits. But the root ...

The Feds Spook the Housing Industry

The Feds Spook the Housing Industry

Fear of more intervention may be causing REITs and other housing-related stocks to sag.

Don't Move In to Altisource Residential

I've made two good investments and one fine trade in Altisource Residential Corp. (RESI) over the last few years, and I've repeatedly gotten e-mails from subscribers about whether I recommend "bottom fishing" on struggling RESI today. Unfortunately,...

Today's Takeaways and Observations

Today's takeaways and observations: Contrary to consensus expectations, the bond market continues to rally. The iShares 20+ Year Treasury Bond ETF (TLT) is near the day's highs, while the 10-year Treasury's yield has dropped to about 2.15%. I'm temp...

Market Wrap: Early Gains Don't Last

Market Wrap: Early Gains Don't Last

Hard day for energy shares, better for utilities.

From the Street of Dreams

Mother Merrill/Brother Bank of America is downgrading mortgage company Ocwen Financial (OCN) to Underperform from Neutral this morning. As some subscribers have asked, I quickly looked at Ocwen's latest results, which were posted yesterday after the...

Sticking Up for the Ex-Im Bank

Markets still are holding their gains as we come to midday. Interestingly, the biotech index is off today despite great results and a solid up day from Gilead Sciences (GILD), one of the four horsemen of biotech. Some infrastructure plays such as Ma...

JPMorgan Buying From Ocwen

JPMorgan Chase (JPM) is to buy $45 billion in mortgage servicing rights from Ocwen (OCN) -- this should be earnings accretive. See my post on JPM earlier today.

Ocwen Financial upgraded at Sterne Agee

Avoid at All Costs

Ocwen's quarterly release underscores that the entire complex is still not investable and should be avoided -- large write-offs, continuing and still unknown legal and monitoring expenses and the lack of  any clarity of ongoing operating expenses re...

Another Look at Ocwen, RESI

Altisource Asset Management (AAMC) and Altisource Residential (RESI) finally announced a restructured management agreement, which approximated my previous guesstimate. Though I am no longer involved in RESI or any other affiliate in the Ocwen (OCN) ...

From the Street of Dreams

Compass research has lowered Ocwen (OCN) to Sell from Neutral with a $7 price target, citing several reasons I have also expressed about the Ocwen complex: Higher operating expenses associated with the Home Loan Servicing Solutions (HLSS) relationsh...

Late Day Observations

Caterpillar (CAT) looks like it has a rendezvous with $80 ahead of it. CAT remains on my Best Ideas List (short). For now, the market bends but doesn't break. I will stick to my notion of a "topping process." I am a $90.75 buyer of Deere (DE). I am ...

Some Midday Observations

Like Bruce Willis, Apple's shares don't die hard or quickly. (The shares are trading +$1.63 after being lower earlier in the day.) The media event invitation for early March (watch) should be no surprise. I plan to add to my short at about $131/shar...

Good News for Altisource Residential

"Capstone believes these actions will add significant value for RESI shareholders. Capstone currently values RESI at $28.10 per share. If RESI's board acts to terminate AAMC for cause and hires a new asset manager at market rates, Capstone estimates...

Some Thoughts on Ocwen

Several weeks ago I summarized my view of each component of the Ocwen (OCN) complex and concluded that OCN, Altisource Portfolio Solutions (ASPS) and Altisource Asset Management (AAMC) might still be avoided, while Home Loan Servicing Solutions (HLS...

Sold Rest of My HLSS

I have sold the balance of my Home Loan Servicing Solutions (HLSS) above $17.10 for a nice and quick gain. The only stock that I am long in the Ocwen (OCN) complex is now Altisource Residential (RESI). RESI is up again this morning -- and now stands...

HLSS Rises on Mangrove Move

In my recent Ocwen (OCN) complex write-up, I opined that Home Loan Servicing Solutions (HLSS) could be acquired. HLSS is +$0.80 on the announcement that Mangrove Partners is nominating five directors for the Home Loan Servicing board. From Nathan Au...

Today's Trades

Early this morning, I covered my SPY and QQQ shorts. Later in the day, I covered my IWM short. I sold my tag end positions in Altisource Asset Management (AAMC), Altisource Portfolio Solutions (ASPS) and Ocwen (OCN). I added more aggressively to my ...

Ocwen Complex Moves

As promised, I sold my tag ends in Altisource Portfolio (ASPS), Altisource Asset (AAMC) and Ocwen (OCN). I have added to my Home Loan Servicing (HLSS) and Altisource Residential (RESI) holdings.  

Back to Market Neutral

I have taken down my index shorts in premarket trading this morning and I have moved to back to market neutral from 8% net short. And as I mentioned yesterday I will be out of Altisource Asset Management (AAMC), Ocwen (OCN) and Altisource Portfolio ...

Right on Cue!

This morning, one of its largest shareholders of Home Loan Servicing Solutions (HLSS), Mangrove Partners, delivered a letter urging the company to sever servicing relationships with Ocwen Financial (OCN). Mangrove believes that such a transfer in se...

Assessing the Outlook for the Ocwen Complex

Buttercup: You mock my pain! Man in Black: Life is pain, Highness. Anyone who says differently is selling something.  -- The Princess Bride Let's start the week by summarizing my thoughts of the Ocwen (OCN)-related complex. Ocwen, Altisource Portfol...

Mapping a Strategy in the Ocwen Complex

For reasons expressed in an upcoming and lengthy fundamental analysis (that I am still crafting), I am making changes in my portfolio weightings in the Ocwen (OCN) complex of companies. I plan to add to Altisource Residential (RESI) (a new long) at ...