n.a. (HLSS)

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Latest News

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...

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...

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...

Altisource Residential Jumps

Nice move higher (up about $0.60 per share to $19.70) on my Trade of the Week, Altisource Residential (RESI) off the announcement that Home Loan Servicing Solutions (HLSS) is being acquired

Thursday's Trades

It was a quiet day in my portfolio on Thursday. I eliminated my Home Loan Servicing Solutions (HLSS) long for a nice (and quick!) gain, and I added to my SPDR S&P 500 (SPY) and PowerShares QQQ (QQQ) shorts.

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...

It's My Party and I'll Cry If I Want To

"It's my party, and I'll cry if I want to Cry if I want to, cry if I want to You would cry too if it happened to you... Play all my records, keep dancing all night But leave me alone for a while 'Til Johnny's dancing with me I've got no reason to sm...

Recent Portfolio Positioning

I am currently market neutral, having moved on Friday from slightly net long by shorting SPY and QQQ (both small). Lately, I have been consistently adding to Citigroup (C), Altisource Residential (RESI) and Home Loan Servicing Solutions (HLSS) and I...

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.  

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 ...

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)...

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...

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...

Findings Gems in 13-Fs

It's like having Wall Street's best as your own research department.

Ocwen Update

Shares are probably going to be trading range-bound for several more months. Ocwen Financial (OCN) has filed its 10Q this morning. http://biz.yahoo.com/e/140818/ocn10-q_a.html The filing frees the company up to repurchase stocks (which I suspect it ...

Another Stumbling Block for Ocwen

Shares trading lower on a report of a delayed 10-Q filing. The hits keep coming at Ocwen (OCN). Shares trading lower on a report of a delayed 10-Q filing. I believe this relates to a previous change in valuation methodologies of mortgage servicing r...

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...

Sifting for Value Ideas in Another 13F

EJF Capital continues to buy stocks of select small banks and private-equity firms.

Some Profit as Americans Borrow Again

Automobiles are getting a lot of consumer attention

Sold Altisource Residential

Just put through the trade I sold my small position in Altisource Residential (RESI) just now, and I have no positions on in the Ocwen Financial (OCN) complex. I plan to commit this weekend to reviewing input I have received on Ocwen, Home Loan Serv...

Negative News for Ocwen

A New York regulator is attempting to halt the acquisition of Wells Fargo's mortgage-servicing business by the company. Ocwen (OCN) is trading lower on news on the Dow Jones wire that a New York regulator is attempting to halt the acquisition of Wel...

Recommended Reading

Run, don't walk, to read Dan Freed's column on Bill Erbey and the Ocwen complex.   Run, don't walk, to read this brilliant and comprehensive column on Bill Erbey and the Ocwen (OCN) complex by Dan Freed on our flaship site. Anyone involved in Ocwen,...

Doug Kass's Lucrative Longs

As Doug Kass prepares to travel to Omaha, we take an opportunity to highlight a trio of his successful long trades.