Ocwen Financial Corporation (OCN)

0.44 1.40
Prev Close 31.73
Open 31.21
Day Low/High 30.95 / 31.55
52 Wk Low/High 22.34 / 38.19
Volume 23.39K
Exchange NYSE
Shares Outstanding 9.20B
Market Cap 297.55M
P/E Ratio 260.70
Div & Yield N.A. (N.A)

Trade of the Week

As promised, I plan to be offering up 2-3 Trades of the Week on a regular basis, as opportunistic trading might be the ticket to beat Mr. Market in the months ahead. In the last two weeks, trades in QQQ (short), Apple (AAPL) (short), Microsoft (MSFT...

Raising Exposure to Ocwen Complex

"Dougie, you are a glutton for punishment." -- Grandma Koufax As can be gathered by my posts, I have been doing a lot of thinking about the Ocwen (OCN) complex. As a result, I have established new and SMALL positions in Altisource Residential (RESI)...

Today's Trades

I have added small to longs in OCN (at $7) ASPS (at $21.85). I have reinstated my shorts in SPY ( at $205.77) and QQQ  (at $103.47) I have added to my Apple short rental (at $119.91) I have scaled out of a large portion of my TWTR long (at $42.15) I...

Low Confidence in ASPS and OCN

I am only buying small in Altisource Portfolio Solutions (ASPS) and Ocwen Financial (OCN) as it is hard to have confidence in companies that have had such an awful capital allocation strategy over the last several years: * ASPS repurchased and paid ...

Ocwen Filing Summary

From  Briefing.com on a summary quotes from the Ocwen filing.   "As of December 31, 2014, we are aware of 21 pending examinations in a total of 15 states. We also regularly engage with our state regulators to respond to specific inquires or investig...

I Like This Filing

Here is an excellent filing and update of operations/liquidity by Ocwen Financial. This is well done and helpful to investors. Based on this filing, I will be adding to OCN and ASPS.

Ocwen Downgraded by Fitch

A hapless Ocwen (OCN) gets a Fitch downgrade this morning.

Ocwen's Deal With Kingstown

Kingstown Capital has purchased 9.5% of Ocwen Financial (OCN). 

Rare Good News for Mortgage Servicers

The market is clawing its way back to even. Oil is holding gains, and this is translating into solid gains within the E&P space today so far. This is also helping Chicago Bridge & Iron (CBI) recover some of its losses from announcement of another de...

Portfolio Update

I start the day net short, at the highest level in several weeks. I am short SPY, QQQ and IWM (having added yesterday to the first two) in the world of ETFS and MSFT, CAT and selected financials (life insurance). On the long side, by far my dominant...

OCN and ASPS Trade Details

As I mentioned, I sold out the ASPS and OCN I purchased early Friday evening in premarket trading. Ocwen traded as high as $9.35 and ASPS as high as $27 in premarket trading this morning. I am bidding $22 to get back into ASPS and under $7 for Ocwen...

Ocwen's Lawsuit Response

After the announcement of a small settlement with the state of California (on Friday evening), it was announced that several large mortgage holders (Pimco, Blackrock, Met Life) are preparing to sue Ocwen for failure to collect the proper payments (t...

Trading OCN and ASPS

I just took gains in shares I picked up late Friday. I have been giving the market some berth to rally into the ECB announcement. But on Friday (and after Thursday's sharp rise in the averages) I moved back to a bit more substantial aggregate net sh...

My Assessment of ASPS, OCN

I can't give them the benefit of the doubt. The Altisource Portfolio Solutions (ASPS) conference call was essentially in line (slightly higher) with my expectations, which I alerted everyone to last week and again on Friday morning (premarket). The ...

The Trader Daily

The Trader Daily

The collapse in copper should be worrying traders.

Ocwen Comments

Ocwen (OCN) comments on the California mortgage incident.

Altisource Conference Call

My understanding was that Altisource Portfolio Solutions (ASPS) was considering a conference call with investors to update on the company's outlook in January. That could include the company's plan to downsize itself, in light of the inability of Oc...

Ocwen Rating, Positions Update

I am told that Keefe, Bruyette & Woods reiterates its $14 target on Ocwen (OCN), and Sterne Agee is defending Home Loan Servicing Solutions (HLSS) now. I don't receive research from either firm, so I can't confirm this for sure. I continue to hold s...

Putting out Two Fires

Not a fun day for yours truly, though my positions are small. Putting out two fires: Ocwen and Monitise. I understand the Ocwen reaction, but I don't really comprehend the extreme weakness in Monitise. More to come as I learn.

Ocwen Link

Here is the Los Angeles Times article on Ocwen (OCN).

Ocwen Details

Piper on Ocwen (OCN): A Los Angeles Times article notes that California is possibly seeking to suspend OCN's mortgage license in California due to OCN failing to turn over documentation about complying with California laws protecting homeowners. The...

Lessons in Life and in Investing

 Avoid the Classic Blunders. In life, never get involved in a land war in Asia. And a little less known lesson: Never go in against a Sicilian when death is on the line! (According to the Cary Elwes Reddit AMA, it was apple juice in the iocaine powd...

Recommended Reading

On Ocwen (OCN). Seeking Alpha on Ocwen. 

More From the Trash Heap

More From the Trash Heap

A small group of small-caps divided domestically and internationally.

ASPS Plans to Discuss Ocwen Settlement

A step in the right direction? I have been informed that Altisource Portfolio Solutions (ASPS) plans a press conference within the next two weeks to discuss the business ramifications of the settlement at Ocwen Financial (OCN). Hopefully, that is a ...

Best Ideas Reshuffle

I am making several changes in my Best Ideas list. Given the uncertainty (and market reaction, which leads me to stop some of the losses) caused by the settlement decision of New York State's DFS, it is hard to justify ASPS and OCN inclusion in the ...

Trying to Move Past It

I am sharing the pain. I am trying to move past the disasters of OCN and ASPS today, though I have to admit it is difficult and, to be honest, I am sharing the pain. I am still, as I suggested earlier, parsing through the information (and observing ...

Wrong on That One

I was clearly wrong that the Ocwen complex would stabilize after the conference call as the shares continue to be pressured.

Ocwen Stabilization?

I am sitting tight for now. Last night's Ocwen (OCN) conference call could stabilize the complex this morning. The settlement with the New York State Department of Financial Services closes a chapter of growth for Ocwen, but it doesn't necessarily e...

More Thoughts on Ocwen

Something to chew on. While I am awaiting for the Ocwen (OCN) conference call I had a thought I wanted to share with all of you. I have suggested to the management of Altisource (ASPS) that they can stabilize and hopefully improve the company's shar...