Ocwen Financial Corporation (OCN)

0.34 0.94
Prev Close 36.19
Open 36.72
Day Low/High 35.74 / 36.96
52 Wk Low/High 22.34 / 38.19
Volume 59.75K
Exchange NYSE
Shares Outstanding 9.20B
Market Cap 332.98M
P/E Ratio 260.70
Div & Yield N.A. (N.A)

Klarman Adds Ocwen

Seven million shares, to be exact. Seth Klarman's Baupost reports that, as of Sept. 30, it has acquired 7 million shares of Ocwen (OCN).

Ocwen Bidding

$21 now. I was bidding for Ocwen (OCN) in the premarket -- only bought an oddlot at $20.60. Bidding $21 now.

Signposts of an Ocwen Settlement

If I am correct in my view, the future looks brighter. After the close last night, Ocwen (OCN) announced that it had mutually agreed with Wells Fargo (WFC) to terminate its previous agreement to acquire a portion of the bank's mortgage-service busin...

Taking My Licking

I've made too many assumptions in ASPS already. The Cockroach Theory has certainly been relevant to the Ocwen (OCN) complex over the last six months.  Normally, I would aggressively be buying Altisource Portfolio (ASPS) after its big fall today. Aft...

More on Altisource

ASPS is off Best Ideas and I'll sell RESI and AAMC. Though I am not selling my small long position, I am taking Altisource Portfolio (ASPS) off my Best Ideas list because that positioning can't be justified in light of today's news. I am also sellin...

Sour News for Altisource

The firm discontinues its lender-placed insurance business. Citing potential regulatory and litigation headwinds, Altisource (ASPS) just announced that it is discontinuing its lender-placed insurance business -- which it does in connection with its ...

Just in on NYDFS's Lawsky

From Inside Mortgage Finance. It appears "vague" as to Benjamin Lawsky's career intentions:  NYDFS on the Lawsky 'Leaving' Rumors: He Loves His Job By Paul Muolo pmuolo@imfpubs.com New York Department of Financial Services Superintendent Benjamin La...

Ocwen Continues Benefiting

From word that the DFS' Lawsky might depart. Ocwen's (OCN) shares continue, for the second day, to benefit from a lagged response to the New York Daily News article that the Department of Financial Services' Benjamin Lawsky might leave the administr...

Ocwen Rising

After a media report. Ocwen (OCN) is trading a tad better after the New York Daily News article that suggested the Department of Financial Services' Benjamin Lawsky might seek work in the private sector.

Ocwen Goes Green

News gets around. Ocwen (OCN) has turned green, perhaps  after the New York Daily News article gets circulated?

Lawsky May Leave?

Could mean an Ocwen (OCN) settlement. There is an article in today's New York Daily News that suggests that Department of Financial Services Superintendent Benjamin Lawsky might leave the Cuomo administration in early 2015 to move to the private sec...

Long Time, First Time

Putting my money where my mouth is. In keeping with my optimism surrounding Altisource Portfolio (ASPS) and Ocwen (OCN), I have taken small positions in Altisource Residential (RESI) at approximately $21, and in Altisource Asset Management (AAMC) at...

Ocwen Update

Settlement charges are nowhere near those silly estimates. As expected, Ocwen (OCN) reported a "noisy" quarter.   To me the story was less about the weak operating results and more about the accrual of a $100 million settlement charge related to New...

Ocwen 'Going Plaid'

And into overdrive. Ocwen (OCN) is going plaid and is in overdrive now. Here is the investment case I laid out this week. OCN and Altisource Portfolio Solutions (ASPS) are both on my Best Ideas list.

Ocwen Call

Going well, so far. While i am still on the Ocwen conference call, I would say it is going well, and the price action in ASPS and OCN are beginning to reflect this.

Ocwen Calling

Nothing to do with Falco. I am on conference call with Ocwen. Back in a while.

Ocwen's Noisy Quarter

  Not, surprisingly, Ocwen (OCN) had a noisy quarter that was characterized by lower normalized earnings.   Away from the operating results, surprisingly, at least to me, is that the company elected to take a $100 million accrual charge for a possib...

Ocwen Nonsense

Halted briefly on a headline. Ocwen (OCN) was briefly halted on a headline -- extracted from a Height Securities research report -- that the company "may pay $40 million to settle the 'misdated' letter issue to mortgagees." The report is nonsense, f...

This Morning's Market Setup

Where it began. "People don't want to think. And the deeper they get into trouble, the less they want to think. But by some sort of instinct, they feel that they ought to and it makes them feel guilty. So they'll bless and follow anyone who gives th...

Ocwen Analysis

My detailed look at the future of Ocwen and Altisource. From the late 2000s until late 2013 the success (and share prices) of Ocwen (OCN) and its spin-outs were remarkable. Altisource Portfolio (ASPS) and Altisource Asset Management (AAMC) were alte...

Ocwen Follows Up

Ocwen (OCN) followed up with a letter late Friday. " In recent days you may have heard about an investigation by the New York Department of Financial Services' into letters Ocwen sent to borrowers which were inadvertently misdated. At Ocwen, we take...

Housing: New Rules, Same Problems

Recent optimism for the industry is misplaced.

Ocwen Review Monday

For now, I wouldn't buy or sell. I will have a detailed review of Ocwen (OCN) on Monday, but for now I wouldn't add or subtract to the name.

Ocwen Responds

A response from Ocwen. "Ocwen regrets that, due to software errors in our correspondence systems, we inadvertently sent improperly dated letters to some borrowers. As always, our goal is to avoid foreclosure. In the case of the 283 borrowers in New ...

Ocwen Is Too Risky

Though today's price destruction is likely creating an opportunity. The entire complex of Ocwen-related (OCN) companies is under seige on the further Lawsky accusations. I have held on to Ocwen as my calculation of the "run-off value" was higher tha...

Bad News for Ocwen

More negative headlines for Ocwen (OCN).

Best Idea Update: Northwest Bancshares

My expectations going into next year. As promised, I'll be describing my specific price expectations for the balance of the year for each long position on my Best Ideas list. The forecasts that I make are within the context of a cautious and negativ...

If Only...

A pity. It is too bad that Ocwen Financial (OCN) is embroiled with the State of New York. With refinancing levels at decade lows, the recent rate drop should result in incremental mortgage activity. Also, a potential curve steepening ahead could imp...

On Investment Boners

I wanted to write this quick post for several months. I will get direct and to the point. One of the few things I can guarantee subscribers is thoroughness of research. I am confident that my research into most of my ideas, particularly my Best Idea...