OCWEN FINANCIAL CORPORATION (NYSE:OCN) Files An 8-K Termination of a Material Definitive Agreement
OCWEN FINANCIAL CORP Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 Ocwen Financial Corporation® OCWEN FINANCIAL ANNOUNCES STRONG RESULTS FOR THE FOURTH QUARTER ● Achieved Net Income of $34.9 million for the fourth quarter of 2019 ● Increasing 2020 volume target for lending and flow channels to $15 – 20 billion reflecting continued strong growth and business momentum across originations platform ● Expense savings from cost re-engineering initiatives were significantly ahead of expectations through the fourth quarter ● Ended the year with $428 million of cash and $412 million of total stockholders’ equity,…
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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.
