Last $27.20 USD
Change Today +0.84 / 3.19%
Volume 2.2M
OCN On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

ocwen financial corp (OCN) Snapshot

Open
$26.39
Previous Close
$26.36
Day High
$27.67
Day Low
$26.31
52 Week High
10/28/13 - $60.18
52 Week Low
08/12/14 - $24.87
Market Cap
3.6B
Average Volume 10 Days
2.3M
EPS TTM
$2.78
Shares Outstanding
130.8M
EX-Date
--
P/E TM
9.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for OCWEN FINANCIAL CORP (OCN)

ocwen financial corp (OCN) Related Businessweek News

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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: 08/18/14
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

Saxena White P.A. Files Securities Fraud Class Action against Ocwen Financial Corporation

Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Southern District of Florida against Ocwen Financial Corporation on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from May 2, 2013 through August 11, 2014. The complaint brings forth claims for violations of the Securities Exchange Act of 1934. The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose a myriad of material information regarding the company's improper business and operational practices including, among other things, the fact that Ocwen's mortgage servicing practices violated applicable regulations and laws; that the company's executives allowed related company Altisource Portfolio Solutions, S.A. - a company of which Defendant William C. Erbey, Ocwen's Chairman of the Board, owns approximately 27% of its shares outstanding -- to impose wholly unreasonable rates for services provided to Ocwen; and that Defendant William C. Erbey, along with other directors and officers, were directly involved in approving Ocwen's conflicted transactions with Altisource. In addition, the Company's financial results were artificially inflated during the Class Period, resulting in a restatement of the Company's financial results. Accordingly, Defendants issued materially false and misleading statements and omitted material information from Ocwen's public disclosures, which failed to disclose, among other things, that: Altisource was charging exorbitant fees to Ocwen to enable Defendants to funnel as much as $65 million in questionable fees; despite public representations to the contrary, Defendant Erbey was personally involved in approving conflicted transactions with Altisource and other related entities which he controlled; the company failed to comply with applicable laws and regulations, including lending regulations designed to protect homeowners; the company's financial statements during the Class Period were artificially inflated and did not provide a fair presentation of the company's finances and operations; the company lacked adequate internal and financial controls; and as a result of the above, the company's financial statements were materially false and misleading at all relevant times.

Ocwen Financial Corp. announced delayed 10-Q filing

On 08/12/2014, Ocwen Financial Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Ocwen Financial Corp. Provides Tax Rate Guidance for the Second Half of 2014

Ocwen Financial Corp. provides tax rate guidance for the second half of 2014. For the period, the company expects tax run rate to be in the low to mid-teens through the rest of the year.

 

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Industry Analysis

OCN

Industry Average

Valuation OCN Industry Range
Price/Earnings 11.7x
Price/Sales 1.6x
Price/Book 1.9x
Price/Cash Flow 5.6x
TEV/Sales NM Not Meaningful
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