Ocwen Suffers Earnings Decline, but Delinquencies Fall

Ocwen Financial Corp., which has been gobbling up billions of dollars of mortgage servicing rights the past two years, earned $19.3 million in the first quarter, a 13% decline from the year ago period.

The publicly traded nonbank blamed the weaker performance on $16 million worth of “transaction-related” expenses, hedging losses, and the cancellation of a term loan. …

Article source: http://www.nationalmortgagenews.com/dailybriefing/ocwen-earnings-decline-1030260-1.html

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