Things seem to be getting overextended for OCN. if you guys have questions you should ask awe-some*sto-ck*s. They often respond to my emails which is helpful.
I have a feeling OCN will see a pullback now. What yall think? the other week Awe.Som.e.Sto-cks. alerted this company i think. google them .
Went on vacation and ignored the OCN "earnings" call until today. It didn't seem to shake anything up much. Allow me to annotate for you:
"Good morning, and thank you for joining us today for Ocwen's Second Quarter 2017 Earnings Conference Call." ***("Good morning, you suckers still holding on to this dying stock.")***
"As a reminder, the presentation and our comments today may contain forward-looking statements made pursuant to the safe harbor provisions of the federal securities laws. These forward-looking statements may be identified by reference to a future period or by use of forward-looking terminology. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain." ***(Our flawed accounting/servicing platform guarantees that we know nothing about anything and haven't since the birth of Ocwen. We don't even know what happened last week, let alone what might happen in the future, so we'll just wing it today.")*** "Our business has been undergoing substantial change, which has magnified such uncertainties. You should bear these factors in mind when considering such statements and should not place undue reliance on such statements. Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. In the past, actual results have differed from those suggested by forward-looking statements and this may happen again." ***(We are still trying to figure out what all these changes are and how uncertain we are. We are sad because we broke our crystal ball last week, so definitely do not put any faith in any of our statements today. We have lied in the past and we may be doing so again today, we never really know. In fact, the one thing you can rely on is that as long as our lips are moving, we may very well be lying")
"Our forward-looking statements speak only as of the date they are made, and we disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. In addition, the presentations posted online and our comments contain references to non-GAAP financial measures, such as adjusted operating expense, adjusted pretax income, adjusted pretax income before corporate debt expense, normalized adjusted cash flow from operations, illustrative servicing cash flow or servicing cash generation and adjusted liquidity." ***(We really don't know what is happening today-hey, what is today?- or any other day, so we are not responsible for anything said about anything at all in this earnings call whether it concern past, present or future. Please do not ask us to back up anything we say today with any kind of hard facts or real life bookkeeping because, well, you know, the computers are down again."
Now, heeere's Ron!
Blah, blah, blahbedy blah. Wha, wha, wha. Yakkety yak yak. ****(We here at Ocwen really wanted to make a huuuge profit for you long suffering shareholders this quarter, but we seem to owe our soul to a bunch of lawyers, judgments and settlements. Everyone is picking on us these days. Poor us. On the bright side, Ocwen sold a kidney and our left lung to New Residential and got a pot load of money for that, but the computers seem to have lost or misapplied those funds. We are in the process of trying to track it down. Since Ocwen cannot afford any auditors, this may be a lengthy process and we may find some of those funds have been inadvertently rerouted to the Cayman Islands or Malta. We ask for your patience in this endeavor for as long as it takes. I can predict with some certainty that this will take a long, long time. That is why, gentle shareholders, that Ocwen once again has to present a dismal picture to you again today. Please bear with us, bend over and grab your ankles and take one for the team-again. None of this is our fault and we claim no responsibility. It is the computers again. [Psst! Would someone get me out of here. I am sick of having to make these silk purses out of the Ocwen sow's ears!]
You are 100%correct in your posts. I have been following OCN from when they were $13/share (on the way up) until they reached a high of $60 and tanked. I never bought into OCN.
The smartest guys in the room here was FIG. They managed NRZ. FIG bid against OCN/WAC on the mortgage business auctioned off in bankruptcy court for the old GMAC/Ally stuff. What FIG did was drive the price of the GMAC stuff to 2x whaat it was worth and let OCN buy it. What OCN did (with FIG's help) was try to stick the whole thanksgiving turkey in its mouth all at once and they choked on it. Loaded with debt and too much work load. Since then NRZ has been biting off OCN one mouthful at a time, digesting it the taking another forkful. Three years ago, NRZ bought HLSS from OCN . And NRZ will continue to swallow OCN one bite at time.
The strategy is beautiful. NRZ controls OCN's cash flow and purse strings, but if there is a computer or software problem, It's OCN's problem to deal with. I'm very long NRZ.
GLTU, Bob S.
To "Little Rock Lilly"
Yes I remember. Thanks for not disappearing completely. My wife is a compliance officer and auditor for a mortgage originator. Not ones mentioned here so I have a little background in how this stuff works. Don't worry, she (and our accounts) get COMPLETELY scrutinized on a regular basis.
The stock is Drive Shack (NYSE - DS) It used to be the old company Newcastle (NCT). NRZ, SNR and NEWM were all spun out of NCT. I started buying in 2009 - well before my wife's current position.
They own or manage 65-90 (?) traditional golf courses which they picked up in bankruptcy for 38cents/$. The other guys who also bought other golf courses was Club Corp.com (NYSE - MYCC). MYCC was just bought and taken private by Apollo Group. With the Apollo buying MYCC, DS is very undervalued in that they can't realized the gain on the golf courses until they're sold. So they're being carried on the books for the purchase price, not what they're really worth. Rules are rules.
DS is going to build out the destination venues ala Top Golf. That is going to make me two additional fortunes. Time frame 3-5 years. The other guys who post here won't wait 3-5 days to flip the stock so I'm not really worried. There is more to this which makes it better. Due to the nature of how I sometimes acquire my research (and protecting sources), I won't post it but believe this, I trust the people who I share info with.
Glad you're back. Hanna and I are friends and speak regularly, My source isn't her.
GL Bob S.
And who runs DS? The same guys running NRZ - the smartest guys in the room.
Ocwen is kicking #$%$ with business. They are busier now than one year ago and only expected to become busier. They have hired more employees to handle the workload. Guys- this is common sense here. BUY!!
Email me & I'll give you a projection on another stock. I'm not going to put it on this board. You'll know the stock but not the research. Why will I do it? You seem pretty smart and I want your opinion. If you can, blow as many holes in In my projections as you can.
They announced the same thing a few months back. OCN is recycling announcements. Probably to try and boost this dreck before the earnings release.
Not worthy of mention! "Ocwen Reaches $56M Settlement In Investors' Class Action Ocwen Reaches $56M Settlement In Investors' Class Action"
Not worthy of mention??? "Ocwen Reaches $56M Settlement In Investors' Class Action"!
Monster Microcaps Alert to OCN shareholders. Clean Energy Technologies - CETY - price today $.018 Price target $.20 by year and $1.00 in 12-18 months. Clean Energy Technologies. CETY recently announced expansion with their Europe Sales and Service Center for Europe new sales and to serve 65 existing customers with CETY’s General Electric clean energy Heat Recovery Systems and just announced they have already sold the first of SEVERAL HUNDRED units to come SOON.
Each CETY Heat Recovery System sells for $300,000 and market demand is several BILLION DOLLARS.
CETY purchased Heat Recovery Systems Division from General Electric and products are now very attractive to huge unmet markets and can achieve over $250 million annual sales within the next 2 years. Demand for conversion of wasted heat to electrical energy in big applications is VERY LARGE AND UNMET.
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks Sep-2016 1,000 Day Parameter 4,338 NYSE Stocks Price Analysis This stock mode of correlation coefficient is 0.8 In other words, the correlation coefficient of the other stocks
All the birds are coming to roost (or circle). Ocwen lies!!
Phantom Recusal Policy Leads to Partial Summary Judgment for Plaintiffs in the Ocwen Securities Litigation
Phantom Recusal Policy Leads to Partial Summary Judgment for Plaintiffs in the Ocwen Securities Litigation
In a June 13, 2017, ruling on a motion for partial summary judgment in the Ocwen Financial Corp. Securities Litigation (the “Ocwen Litigation”), the United States
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Ocwen's (OCN) Rating Downgraded by Moody's, Outlook Negative June 19, 2017
Moody's Investors Service, the rating services arm of Moody's Corporation MCO , downgraded the senior secured and unsecured debt ratings of Ocwen Financial Corporation OCN from Caa1 to Caa2. Additionally, the company's corporate family rating was downgraded from B3 to Caa1.
Moody's also downgraded the senior secured bank credit facility rating of Ocwen's subsidiary, Ocwen Loan Servicing, LLC, from B2 to B3. The outlook for the company is negative.
Ocwen's (OCN) Rating Downgraded by Moody's, Outlook Negative
Moody's Investors Service, the rating services arm of Moody's Corporation MCO , downgraded the senior secured and unsecured debt ratings of Ocwen.
$3.50 coming soon. Stay put.
Ocwen Loses Bid for Early Test of CFPB’s Constitutionality June 5, 2017
"A federal judge June 2 blocked Ocwen Financial Corp.’s bid to test the constitutionality of the Consumer Financial Protection Bureau in the early stage of a closely watched enforcement case ( Cons. Fin. Protection Bureau v. Ocwen Fin. Corp. , S.D. Fla., 17-cv-80495, 6/2/17 ).
The ruling by Judge Kenneth Marra of the U.S. District Court for the Southern District of Florida allows the CFPB to proceed unimpeded with its April lawsuit alleging that Ocwen violated consumer protection laws in servicing loans of distressed borrowers."
Ocwen is unconstitutional. It is a company that has already admitted that it cannot do its job because of its poor IT infrastructure, yet it is allowed to steal homes and throw U.S. citizens into the streets. Ban it!
Ocwen Helps 75,000 Homeowners Avoid Foreclosure In 2016
WEST PALM BEACH, Fla., Jan. 11, 2017 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation, (NYSE:OCN) (
Whatever happened to arky s/b/h?
Monster MicroCaps Research Alert to OCN shareholders. Clean energy Technologies (CETY) is under a penny with a market cap of under $3 million and just announced the beginning of the adoption of their big ticket waste to energy systems to giant waste industry with adoption of 3 systems by Aries Clean Energy.
CETY technology was purchased from General Electric and is attractive to huge unmet markets that can achieve over $250 million annual sales within the next 2 to 3 years. Demand for conversion of wasted heat to electrical energy in large applications is very large and unmet!
Shares could yield enormous percentage return on investment.