Fat, as usual you are spot on. Most upbeat Ive heard Faris in a couple years. And yes, the Nomura analyst knocked it out od the park ($4/share off balance sheet). More clarity, strong assets and I expect more money to start returning to Ocwen shares soon.
# yahoo message board changes some so most of the time on stocktwits now
(Bloomberg) -- Ocwen’s ability to service RMBS loans remains steady despite financial weakness in its parent company, Moody’s analysts Francis Wissman, Gene Berman and William Fricke write in research note.
* Ocwen continues to have best total cure and cash flowing metrics among servicers assessed by Moody’s
* Foreclosure and REO timeline performance remains at Above Average, with particular strength in pre-foreclosure and foreclosure timelines
* Loan modification re-default rate not as strong as some of its peers
* Currently assessed at SQ3- (Average -) as primary servicer of prime, subprime and second-lien loans and at SQ3- as special servicer of residential mortgage loans
* NOTE: Moody’s downgraded corporate family rating to B3 from B2 and assigned negative outlook on June 8 due to weak profitability in 1Q’16 from high legal, regulatory and servicing expenses; company has lost $888m over past 2 years