Last $35.85 USD
Change Today +0.09 / 0.25%
Volume 834.0K
OCN On Other Exchanges
New York
As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

ocwen financial corp (OCN) Snapshot

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52 Week High
10/28/13 - $60.18
52 Week Low
05/8/14 - $31.31
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Current Stock Chart for OCWEN FINANCIAL CORP (OCN)

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ocwen financial corp (OCN) Details

Ocwen Financial Corporation, through its subsidiaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. This segments residential servicing portfolio includes conventional; government insured; and non-agency loans, such as subprime loans. Ocwen Financial Corporation’s Lending segment is involved in originating and purchasing conventional and government insured residential forward, and reverse mortgage loans primarily through its correspondent lending arrangements, as well as offers direct lending services. The company was founded in 1988 and is headquartered in Atlanta, Georgia.

10,100 Employees
Last Reported Date: 03/3/14
Founded in 1988

ocwen financial corp (OCN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $540.0K
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: $725.0K
Chief Investment Officer and Executive Vice P...
Total Annual Compensation: $393.9K
Executive Vice President, General Counsel and...
Total Annual Compensation: $242.3K
Senior Vice President of International Tax Pl...
Total Annual Compensation: $166.7K
Compensation as of Fiscal Year 2013.

ocwen financial corp (OCN) Key Developments

Ocwen Financial Corp. Agrees to Pay $3.7 Million to Settle Massachusetts Lawsuit Related to Mortgage Handling

Ocwen Financial Corp. agreed to pay $3.7 million to settle a Massachusetts lawsuit related to mortgage handling. Homeowners will receive $3 million while the remainder will go to state coffers. The lawsuit alleged that Ocwen unlawfully oreclosed on properties and did not provide the required notices to homeowners who were at default. Further, Litton Home Servicing LP, an acquired company of Ocwen, breached state laws by allegedly initiating foreclosures when it did not hold the actual mortgages. The settlement follows the massive $2.1 billion settlement with the Consumer Financial Protection Bureau and other regulators announced last December. The settlement resolved charges of improper handling of mortgages. Regulators in that case, which included authorities in 49 states and the District of Columbia, accused Ocwen of pushing borrowers into foreclosure through servicing misconduct, deceiving consumers about foreclosure alternatives, improperly denying loan modifications and engaging in illegal foreclosure practices. As part of the agreement, Ocwen must properly execute documents filed in connection with foreclosure proceedings, and mail notices to residents that are in compliance with applicable statutes and regulations.

Ocwen Financial Corporation Announces Management Appointments

On May 14, 2014, the Board of Directors of Ocwen Financial Corporation appointed Michael R. Bourque, Jr. as Executive Vice President and Chief Financial Officer of Ocwen, effective June 2, 2014. The Board appointed Executive Vice President and Chief Financial Officer, John V. Britti, as Executive Vice President and Chief Investment Officer of Ocwen, effective as of June 2, 2014. Prior to joining Ocwen, Mr. Bourque spent fifteen years in various financial leadership positions in the General Electric Company, spanning both GE's industrial businesses as well as GE Capital. Most recently, from 2013 to April 2014, Mr. Bourque served as Chief Financial Officer for GE Distributed Power.

Ocwen Financial Corpoation Presents at 2014 Wells Fargo Specialty Finance Conference, May-21-2014 11:30 AM

Ocwen Financial Corpoation Presents at 2014 Wells Fargo Specialty Finance Conference, May-21-2014 11:30 AM. Venue: InterContinental Times Square, 300 W 44th St, New York, NY 10036, United States.


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OCN Competitors

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Company Last Change
Flagstar Bancorp Inc $19.24 USD -0.01
Home Loan Servicing Solutions Ltd $22.33 USD -0.36
Nationstar Mortgage Holdings Inc $32.09 USD -0.77
PHH Corp $24.20 USD -0.21
Walter Investment Management Corp $29.42 USD +0.23
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Valuation OCN Industry Range
Price/Earnings 16.0x
Price/Sales 2.3x
Price/Book 2.6x
Price/Cash Flow 7.8x
TEV/Sales NM Not Meaningful

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