OCWEN FINANCIAL CORPORATION (NYSE:OCN) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On May 7, 2019, Ocwen Financial Corporation (the “Company”) issued a press release announcing results for the first quarter ended March 31, 2019. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 2.02 and the information in the related exhibit 99.1 attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Press Release of Ocwen Financial Corporation dated May 7, 2019 announcing financial results for the first quarter ended March 31, 2019 |
OCWEN FINANCIAL CORP Exhibit
EX-99.1 2 ex99-1.htm Ocwen Financial Corporation® OCWEN FINANCIAL ANNOUNCES OPERATING RESULTS FOR FIRST QUARTER 2019 ● Reported a Net Loss of $44 million for the first quarter of 2019 ● Closed or have been awarded MSRs to date with current UPB of $31 billion ● On track to complete servicing system conversion to Black Knight MSP® and the merger of our principal licensed legal entities in the second quarter of 2019 ● Continued to execute on our cost re-engineering plan and realized annualized run rate cost savings consistent with our expectations through the first quarter of 2019 ● Upsized our Senior Secured Term Loan by $120 million and expect to close $300 million of MSR financing on a fully committed basis in the second quarter of 2019 ● Ended the quarter with $512 million of total stockholders’ equity West Palm Beach,…
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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.
