Ocwen Financial Corporation (OCN)

Prev Close 22.97
Day Low/High 22.50 / 23.34
52 Wk Low/High 17.76 / 41.92
Exchange NYSE
Shares Outstanding 9.25B
Market Cap 212.48M
P/E Ratio 260.70
Div & Yield N.A. (N.A)

Today's Trades

So far. I covered my PowerShares QQQ (QQQ) short near the lows for a quick gain. I added to ProShares Short 20+ Year Treasury (TBF), Ocwen (OCN), Monitise (MONI.L/MONIF) and Citigroup (C) longs. I am slightly net long and will be a short-seller on s...

Heavy Call Action in Ocwen

Investors take a sizable interest and define their risk. As I have previously written, I am aware of medium-sized hedge funds that have concentrated exposure in the Ocwen (OCN) complex: Home Loan Servicing Solutions (HLSS), Altisource Portfolio Solu...

Portfolio Update

After adding to Citi and Ocwen, I am now slightly net long. I added more to Citigroup (C) and Ocwen (OCN). I am now slightly net long.

Late to the Party?

Where have you been, Oppenheimer? Oppenheimer has downgraded Ocwen (OCN) to Perform. Oppenheimer downgrades OCN to Perform from Outperform. NY Department of Financial Services Superintendent Benjamin Lawsky publicly released a new letter he sent to ...

This Morning's Market Setup

Where it began. The rundown: U.S. futures are falling after yesterday's rip. (S&P futures are down by 4 handles, and Nasdaq futures are 8 handles lower.) European stocks are higher (by approximately 0.40%). Nikkei is down by 1.00%, a continuation of...

From the Street of Dreams

Some support for my thesis. This following from Autonomous Research supports my view that Altisource Portfolio Solutions (ASPS) is far more exposed than Ocwen (OCN) on the Lawsky findings: The NYDFS released a letter (click here) updating its invest...

Ocwen Being Opportunistic?

One would think that the company is now accelerating its buyback. It was only two weeks ago that Ocwen (OCN) repurchased about 2 million shares owned by Wilbur Ross (who remains on the board of directors) at $37 a share. One would think that the com...

ASPS More Exposed

I'll be adding to Ocwen. It seems to me that Altisource Portfolio Solutions (ASPS) (the beneficiary of the alleged overpayment) is more exposed to the Lawsky news than Ocwen (OCN) should be. So, I am adding to Ocwen at $26.90 or better.

Ocwen Still Under Regulatory Scrutiny

More of the same. Speaking of Ocwen (OCN), more of the same from New York state banking regulators just now.

In Case You Missed It

'Ocwen Postmortem.' In case you missed my "Ocwen Postmortem" on Thursday, it is below: Ocwen's (OCN) revenue was in line, but for the second quarter in a row, the company missed consensus profit expectations, as higher interest and elevated expenses...

Turning Down

I don't like the action By Bret Jensen The market is turning down as we approach the noon hour, and I don't like the action. The Russell 2000 continues to significantly underperform, an indicator that the investing environment continues to be risk-o...

Nice Recovery

Indices were slightly up at 10:00 a.m. EDT. By Bret Jensen The market recovered nicely after the jobs report came in slightly weaker than expected, lessening risk that the Fed would have to move sooner than expected. Indices were slightly up at 10:0...

Keep Your Defenses Up

I'm net short the market. I had planned on taking a day off tomorrow. But I will try to parse Ocwen Financial's (OCN) results tonight and publish my views early in the morning in Columnist Conversation. As I wrote this morning, in "This Morning's Ma...

Good Feelings From Monitise Meetings

And I haven't covered a single short yet today. Trapped in traffic. Monitise (MONI.L/MONIF) meetings confirmed my bullish view. I haven't had chance to look at Ocwen (OCN). Finally, I haven't covered one short today.

Quick Look at Ocwen

The company missed, but a lot of noise and nonrecurring items contributed to that miss. On the face of it, Ocwen (OCN) misses, but there was a lot of noise and nonrecurring items in Ocwen's second-quarter 2014 report. I am already on the road, so I ...

Ocwen Underperforms

Any evidence of a compromise with Lawsky and New York state could move these shares immediately into the low $40s. Once again, Ocwen (OCN) is underperforming its peers, Walter Investment Management (WAC) and Nationstar Mortgage (NSM). I do think any...

From the Street of Dreams

Mortgage service industry receives a downgrade from Wells Fargo. Wells Fargo has downgraded the mortgage service group. Ocwen (OCN), Walter Investment (WAC) and Nationstar (NSM) are under pressure this morning.

In Case You Missed It

Here is last night's news on Ocwen. In case you missed last night's late news on Ocwen (OCN): After the close of trading, Ocwen Financial announced that it has completed the second and closing repurchase agreement with W.L. Ross to buy a total of 1....

Ocwen Completes Its Ross Repurchase

It will buy the rest of Ross' stake at about $37 a share. "One more thing." part deux  - Lt. Columbo  After the close of trading, Ocwen Financial (OCN) announced that it has completed the second and closing repurchase agreement with W.L. Ross to buy...

Ocwen Lags Nationstar

Ocwen is a Kass Katch. Nationstar's (NSM) share price is picking up, while Ocwen's (OCN) share price is lagging. Better value in Ocwen.

Nice Change for Ocwen

The stock is outperforming its peers. Ocwen (OCN) is slightly outperforming Walter (WAC) and Nationstar (NSM) for a change.

What's the Issue?

Why does it continue to lag its industry peers? Ocwen (OCN) continues to underperform its brethren, Walter (WAC) and Nationstar (NSM), and I don't know why.

Too Damn Cheap!

Here's my list. My list includes Monitise (MONI.L/MONIF), Ocwen (OCN), Oaktree (OAK), Baxter (BAX), Bon-Ton Stores (BONT) and Potash (POT, particularly after the Monsanto (MON) announcement).

Bidding for Three Longs

Namely, Bon-Ton, Ocwen and FXI. On the long side, I am bidding for Bon-Ton Stores (BONT), Ocwen (OCN) and iShares China Large-Cap ETF (FXI), but all under the market.

Another Reason to Avoid Altisource Residential

Competition and prices are growing for nonperforming loans. I have received numerous emails from subscribers on Altisource Residential's (RESI) share price drop this morning. The proximate cause is a Bloomberg article published earlier today that po...

From the Street of Dreams

Bank of America/Merrill Lynch has positive words about Ocwen. From Brother Bank of America/Mother Merrill Lynch on Ocwen (OCN): We see 4:1 reward/risk. Our risk assumption puts stock at $34 (down 10%) vs our target of $54 (up 40%). The bears see ris...

Three to Buy?

Oaktree, Ocwen and Bon-Ton are laggards. Some laggards that might warrant purchase include Oaktree (OAK), Ocwen (OCN) and Bon-Ton (BONT).

Keeping Tabs on Some Longs

Radian and Potash continue to do well, and Ocwen shakes off some silliness. Nice moves continue at Radian (RDN) and Potash (POT). Ocwen (OCN) had silly after-hours trading regarding news on a Massachusetts settlement -- it has since rallied. Otherwi...

Ocwen Catches Up

And then some. Over the past week, I have been writing about how Ocwen's (OCN) shares have lagged their peers', Walter Investment (WAC) and NationStar Mortgage (NSM). Today we are seeing a reversal of form.

Ocwen Advances

And it appears to be confirmed by further climbs in its peer group. Ocwen (OCN) continues its nice share price advance today. Importantly, it appears to be confirmed by further climbs in its peer group -- Walter (WAC) and Nationstar (NSM).