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Ocwen Financial Corporation (OCN)

NYSE - NYSE Delayed Price. Currency in USD
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3.19+0.04 (+1.27%)
At close: 4:02PM EDT
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  • H
    Hannah
    Hannah

    OCN may be a compelling opportunity. This is so frustrating trying to find trade ideas. I've subscribed to some email newsletters which helps me with new stock ideas. https://activepennystocks1.blogspot.com is the one i like best.

    Penny Stock
    activepennystocks1.blogspot.com
  • D
    David
    David
    So interesting that noted investor Leon Cooperman, Omega Advisors, owns over 7,000,000 shares of Ocwen.
  • J
    Julia
    Julia
    The upside potential for OCN just got a whole lot more interesting. awesome*sto-cks just allerted a new stock - it beats having to dig online yourself for new stock ideas.
  • R
    Rachel
    Rachel
    In the short-term OCN does not seem to be like a good trade. awe.some*sto-cks alerted a new stock just now. going to check it out.
  • R
    RBandicoot
    RBandicoot

    Ever the blundering idiots, Ocwen makes another "error". Is there any agreement signed by Ocwen so far that it has not breached?

    https://www.housingwire.com/articles/41249-ocwen-fined-1-million-for-force-placed-insurance-issues

    Ocwen fined $1 million for force-placed insurance issues
    Ocwen Financial will pay a fine of $1 million for running afoul of the terms of the National Mortgage Settlement by not properly refunding force-placed insurance premiums to certain borrowers during the first quarter of 2017. And because Ocwen previo
    www.housingwire.com
  • G
    Grace
    Grace
    Perhaps a short-term pull back is more likely before the next rally on OCN? awe-some*sto-cks recently alerted this company i think. google them.
  • b
    bob
    bob
    @Rbandicoot,

    Look at the announcement from NRZ/ASPS. Does it seem familiar?

    If it worked once, well,,,

    GL'
    Bob
  • a
    aaron b
    aaron b
    OCN needs to beat the street earnings before anything will happen in my opinion....
  • Y
    Yotam
    Yotam
    OCN will back to 6 in half a year.
  • Z
    Zoe
    Zoe
    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.
  • Z
    Zoe
    Zoe
    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 .
  • R
    RBandicoot
    RBandicoot
    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!]
  • b
    bob
    bob
    @Rbandicoot,

    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.
  • b
    bob
    bob
    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.
  • R
    Ron
    Ron
    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!!
  • b
    bob
    bob
    @Rbandicoot

    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.

    Bob S.
  • b
    bob
    bob
    They announced the same thing a few months back. OCN is recycling announcements. Probably to try and boost this dreck before the earnings release.
  • l
    loufal
    loufal
    Not worthy of mention! "Ocwen Reaches $56M Settlement In Investors' Class Action
    Ocwen Reaches $56M Settlement In Investors' Class Action"
  • l
    loufal
    loufal
    Not worthy of mention??? "Ocwen Reaches $56M Settlement In Investors' Class Action"!
  • N
    Nick
    Nick

    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.

    https://finance.yahoo.com/news/clean-energy-technologies-inc-secures-144700111.html