Ocwen Reports Drop in Profit
July 30 2015 - 6:00PM
Dow Jones News
Ocwen Financial Corporation said its second-quarter net income
dropped to $10 million from $67 million in the same period a year
earlier.
Earnings per share for the Atlanta-based mortgage-servicing
company fell to $0.08 per share from $0.48 per share.
Revenue dropped 16% to $463 million.
Following more than a year of problems with regulators, Ocwen
announced previously that it was selling some of its
mortgage-servicing rights and concentrating on mortgages not owned
by government agencies. The unpaid principal balance of the
mortgages it services and real estate-owned was $322 million at the
end of June, down from $435 million in the year-earlier period.
Write to James Sterngold at james.sterngold@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ocwen Financial (NYSE:OCN)
Historical Stock Chart
From Apr 2023 to Apr 2024