Ocwen Financial Corporation (OCN)

Prev Close 36.19
Day Low/High 35.74 / 36.96
52 Wk Low/High 22.34 / 38.19
Exchange NYSE
Shares Outstanding 9.20B
Market Cap 332.98M
P/E Ratio 260.70
Div & Yield N.A. (N.A)
Right and Wrong

Right and Wrong

Every trade should have a thesis and a catalyst.

Surprised by Large Decline in ASPS

I've added on the weakness. As I await the Ocwen Financial (OCN) conference call at 5 p.m., the magnitude of the decline in shares of Altisource Portfolio Solutions (ASPS) is a shock to me as this capital light company is likely going to earn $6/sha...

What I'm Seeing

What i am seeing today (besides the Ocwen situation). High yield backing off. Natural gas and crude oil lower. Gold acting poorly. Copper weak. All sign of slowing economic growth.

Buying OCN, ASPS on Dip

I'm taking advantage of the overreaction. While cognizant of some of the surprises contained in the Ocwen (OCN) settlement with the New York State DFS, I have added small to ASPS (at $38.00) and OCN (at $16.60). In my view, at these price levels the...

More on the Ocwen Saga

From Piper on Ocwen (OCN) et al: This morning, the NY DFS announced a settlement with OCN which contains four significant impacts: Bill Erbey will step down as the chairman of OCN, ASPS, RESI, HLSS and AAMC. While we thought Bill Erbey may step down...

Ocwen Penalty Lower Than Expected

As I just wrote in the comments section on Ocwen (OCN): I am waiting for questions to be answered at the company's 5PM conference call before I do anything. At $150 million, the settlement was at the lower end of the $ expectations (I was using $200...

Patient on Ocwen

I'd rather wait for more info. I am not doing anything in the Ocwen (OCN) complex after today's announcement. While I feel this is a big overreaction, I plan to wait until the company's conference call after the close. 

Ocwen Settlement Is Here

William Erbey will resign as chairman. Here is the New York State DFS statement of settlement with Ocwen (OCN).

Ocwen Settlement Mystery

Shares are volatile on settlement report. I am dissecting the Ocwen announcement this morning (as best I can) but we probably won't have some of the more important input until the company's 5PM investor call this afternoon. There are few details tha...

Ocwen Moves off Yesterday's Low

I'm adding to Altisource Portfolio Solutions (ASPS). Ocwen Financial (OCN) has had a nice move (+10%) from yesterday's low of under $20/share. Its sister company, ASPS, continues to trail its big brother, so I am adding to ASPS.

Ocwen in the Green

Nice 5% move in Ocwen (OCN) off of the day's lows. Now green.

Trade Updates

I'm back down to 5% net short. I have added to my energy longs (implemented a trading layer on top of my investment long) on the selloff (when they turned red on the day) -- Chevron (CVX), Devon Energy (DVN) and Exxon Mobil (XOM). I have also initia...

Ocwen and Lawsky

My views on Ocwen, Lawsky and ASPS. N.Y. State Department of Financial Services Head Ben Lawsky continues to look for big elephants to hunt. This past few months and today the target is bitcoin. Hopefully, he will "get bored" of his pursuit of Ocwen...

Pressing OCN, C and ASPS Longs

I pressed my Ocwen Financial (OCN), Citigroup (C) and Altisource Portfolio Solutions (ASPS) longs in the late afternoon.

Back in on ASPS

A small long position. I repurchased a small long position in Altisource Portfolio Solutions (ASPS) this morning ($48). I think the hedge fund community, heavily weighted in the Ocwen (OCN) complex, might mark the group up in the days ahead. I am pl...

Added to Twitter and Ocwen Longs

I have added to Twitter (TWTR) and Ocwen Financial (OCN) longs this morning.

Buying More Ocwen

Buying (with a $21.20 limit) some Ocwen (OCN) now.

Best Idea for 2015: Ocwen Financial

The recent decline represents an opportunity to opportunistic investors.

Nice Moves

Three looking good. Nice move in Bon-Ton Stores (BONT). I have recently added. Same for Ocwen (OCN) and The Mighty Oak (Oaktree (OAK)) today.

Ocwen Trading Better

Ocwen is trading a bit better today. In fact, the shares were higher all day, even when the Dow Jones Industrial Average was down by nearly 200 points. As I recently wrote, I am guessing that the company agrees to a settlement with New York State's ...

Recommended Reading

Here is a value-adding analysis and post from Seeking Alpha on Ocwen Financial (OCN)

Clearing the Air

I am down to a relatively low aggregate gross long exposure. To clarify an earlier post: I am down to a relatively low aggregate gross long exposure now. As to individual longs: I have full-sized positions in closed-end municipal bond funds, medium-...

Must-See TV

Lawsky to appear on CNBC. Coming up on CNBC: Ben Lawsky, Superintendent of the New York State Department of Financial Services (DFS). Remember, Lawsky has been in the Ocwen's (OCN) complex crosshairs for most of this year.

Ocwen 'Complex' Recovering

Hopefully close to a settlement. The Ocwen (OCN) "complex" has been trading better over the last few days. Hopefully we are within a month of a settlement with the New York State Department of Financial Services (DFS). Here's my last update on these...

Ross Leaves Ocwen Board

Ocwen (OCN) disclosed last night that Wilbur Ross is resigning from the company's Board of Directors. This move is directly related to his election as vice chairman of the Bank of Cyprus, which limits his directorship in other financial companies. R...

Ocwen's Strength

Downside risk $19 and upside opportunity $30. Ocwen (OCN) is conspicuous in its strength today (up by more than $2 a share or better than +10%) and I have received a number of questions from subs. I continue to expect a settlement of $150 million to...

Winners and Losers

It's a funny investing world. I can spend months researching a company (e.g. Ocwen (OCN)) and get schmeissed, but I spend two hours reading Fibrogen's (FGEN) IPO prospectus and I have a winner (with relatively limited knowledge away from the documen...

Ocwen Picks Up a Bid

The Ocwen (OCN) complex has picked up a bid this afternoon.

Learning From the Greats

Find stock ideas in 13F filings.

My Weightings

A quick look at my holdings. At the suggestion of several subscribers, I have agreed to put weightings on my individual holdings going forward. I forgot to do it this morning on companies mentioned today, so here's a quick update. Small: Ocwen (OCN)...