Ocwen Financial Corporation

Ocwen Financial Corporation

Ocwen Financial Corporation

Overview
Date Founded

1988

Headquarters

1000 Abernathy Road North East,Suite 210,Atlanta, GA 30328-8606

Type of Company

Public

Employees (Worldwide)

5,300

Industries

Real Estate
IT Consulting & Services
Accounting & Financial Services
Retail & Commercial Banking
Consumer Finance

Company Description

Ocwen Financial Corp. is a financial services holding company, which through its subsidiaries engages in the servicing and origination of mortgage loans. It operates through the following business segments: Servicing, Lending, and Corporate Items and Other. The Servicing segment engages in residential servicing business, which offers residential and commercial mortgage loan servicing, special servicing and asset management services. The Lending segment involves in the originating and purchasing conventional and government-insured residential forward and reverse mortgage loans mainly through correspondent lending arrangements, broker relationships and directly with mortgage customers. The Corporate Items and Other segment include revenues and expenses that are not directly related to other reportable segment. The company was founded in February 1988 and is headquartered in West Palm Beach, FL.

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Executives & Employees

President, Chief Executive Officer, Director

Chief Financial Officer & Executive Vice President

Executive Vice President & Chief Investment Officer

Executive Vice President, General Counsel

Executive Vice President & Chief Risk & Compliance Officer

Chief Accounting Officer & Senior Vice President

Chief Growth Officer & Executive Vice President

Executive Vice President & Chief Administrative Officer

Executive Vice President, Chief Servicing Officer

Executive Vice President, Capital Markets

Board of Directors

Managing Member at Wroxton Civic Ventures LLC

Lead Director at Engler Financial Group LLC

Chairman & Chief Executive Officer at Central Jersey Community Development Corporation (CJCDC)

Former Chief Risk Officer & Managing Director at Natixis North America LLC

Advisor at Brock Capital Group LLC

Chief Executive Officer & Director at EJF Acquisition Corp.

President, Chief Executive Officer, Director at Ocwen Financial Corporation

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Owners & Shareholders
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Deer Park Road Corporation is a multi-fund investment manager focused exclusively on investing in distressed real estate and asset backed fixed-income securities for both high net worth individuals and institutional investors.

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Omega Advisors, Inc. was founded in 1991 by Leon G. Cooperman, and is registered as an investment advisor with the U.S. Securities and Exchange Commission. Omega has approximately $3.8 billion under management (as of July 31, 2018).

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Fortress Investment Group's private equity activities focus on operating businesses across five major sectors including financial services, transportation, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The firm seeks to acquire undervalued assets and companies that can be improved through intensive asset management. Fortress places capital across the entire capital structure, actively deploying first and second lien senior secured debt, mezzanine financing and equity investments.Through the Fortress Investment Funds and through direct co-investments, Fortress acquires cash flowing investments and businesses that are often backed by tangible physical and financial assets. The Fortress Mortgage Opportunities Funds make investments in residential mortgage backed securities and related investments. The firm is also affiliated with two externally managed publicly traded companies, Newcastle Investment Corp. and Eurocastle Investment Ltd. Newcastle Investment Corp. invests primarily in real estate related loans and securities. Eurocastle Investment Ltd. invests primarily in operating real estate.

Recent Transactions
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Ocwen Financial Corporation purchases PHH Corp.

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Ocwen Financial Corporation purchases Liberty Home Equity Solutions, Inc. from Genworth Financial, Inc.

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Altisource Portfolio Solutions SA purchases Ocwen Financial Corp. /Fee-Based Businesses from Ocwen Financial Corporation

Insider Transactions
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Advisors & Consultants
Legal Advisor

Partner at O'Melveny & Myers LLP

Legal Advisor

Partner at Kramer Levin Naftalis & Frankel LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Clients

Federal National Mortgage Association is a government-sponsored company. It engages in the provision of liquidity for purchases of homes and financing of multifamily rental housing and refinancing existing mortgages. The firm operates through the following segments: Single-Family and Multifamily. The Single-Family segment offers liquidity to the mortgage market and increase the availability and affordability of housing for single families. The Multifamily segment includes guaranty fees on the mortgage and on the multifamily mortgage loans. Federal National Mortgage Association was founded in 1938 and is headquartered in Washington, DC.

Freddie Mac was chartered by Congress in 1970 with a public mission to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market. We participate in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities, principally those we call PCs. The secondary mortgage market consists of institutions engaged in buying and selling mortgages in the form of whole loans (i.e., mortgages that have not been securitized) and mortgage-related securities. We do not lend money directly to homeowners.

MSR Investments, LLC is a Commodity Trading Advisor that endeavors to provide investors with superior risk-adjusted returns that are non-correlated with returns from all markets and investment strategies, including returns of other Commodity Trading Advisors.

Key Stats and Financials As of 2019
Market Capitalization
$254M
Total Enterprise Value
$8.79B
Earnings Per Share
$-15.86
Revenue
$1.12B
Total Equity
$412M
Net Profit
$-142M
Enterprise Value / Sales
7.83x
TEVNet Income
-61.83x
Debt TEV
1.04x
Total Debt
$9.1B
Three Year Compounded Annual Growth Rate Of Revenue
-6.84%
Five Year Compounded Annual Growth Rate Of Revenue
-12.19%
EBITDAMargin
36.46%
Enterprise Value EBITDAOperating
21.37x
EBITDA
$409M
Non-Profit Donations & Grants
Investments
Details Hidden

Ocwen Structured Investments LLC provided investment in tranches and residuals of residential mortgage-backed securities and other assets. The company was founded in 2007 and was headquartered in West Palm Beach, FL.

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Bankruptcy Management Solutions, Inc. designs and develops software solutions. It offers customized software programs that simplify and automate the administrative requirements of insolvency professionals. The company was founded by David S. Watkins in 1987 and is headquartered in Irvine, CA.

Suppliers
Altisource Portfolio Solutions SA Retail & Commercial Banking | Luxembourg, Lux

Altisource Portfolio Solutions SA engages in the provision of services and technology for the mortgage and real estate industries. It operates through the following segments: Mortgage Market; Real Estate Market; and Other Businesses, Corporate and Eliminations. The Mortgage Market segment offers loan servicers and originators with marketplaces, services and technologies that span the mortgage lifecycle. The Real Estate Market segment provides real estate consumers and rental property investors with marketplaces and services that span the real estate lifecycle. The Other Businesses, Corporate and Eliminations segment includes certain ancillary businesses, interest expense and unallocated costs related to corporate support functions. The company was founded on November 4, 1999 and is headquartered in Luxembourg.

Competitors
JPMorgan Chase & Co. Retail & Commercial Banking

JPMorgan Chase & Co. is an American multinational banking and financial services holding company. It is the largest bank in the United States by assets, and as of 2012, it ranks as the second largest bank in the world by assets with total assets of $2.509 trillion. It is a major provider of financial services, and according to Forbes magazine is the world's second largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is one of the largest hedge funds in the United States. It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co

Bank of America Corp. Retail & Commercial Banking - Charlotte, NC

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other.

Citigroup, Inc. Other Business & Consulting Services - New York, NY

Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range of financial services and products. They strive to create the best outcomes for their clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible.

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