OCWEN FINANCIAL CORPORATION (NYSE:OCN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
On April 3, 2020, Robert J. Lipstein, a member of the Board of Directors (the Board) of Ocwen Financial Corporation (Ocwen or the Company), notified the Company that he will not stand for re-election at the Company’s 2020 annual shareholder meeting, which is currently scheduled for May 27, 2020. The Board determined that the size of the Board shall be decreased to seven effective immediately prior to the beginning of the Company’s 2020 annual shareholder meeting. Ocwen thanks Mr. Lipstein for his service to the Company as a director. Mr. Lipstein’s retirement is not due to any disagreement with the Company relating to its operations, policies or practices.
About OCWEN FINANCIAL CORPORATION (NYSE:OCN)
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans. The Company’s Corporate Items and Other segment includes business activities that include providing secured floor plan lending to used car dealerships through its Automotive Capital Services (ACS) venture and providing financing to investors to purchase single-family homes and apartments for lease through its Liberty Rental Finance venture. The Corporate Items and Other segment also includes the diversified fee-based businesses, which provide property valuation, real estate owned (REO) management, title and closing services.
