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Glen A. Messina, President and CEO of Ocwen, said, “Our balanced and diversified business model combined with continued cost improvement enabled us to offset market headwinds and deliver a solid quarter. Our results reflected improved earnings and strong growth in book value and earnings per share, primarily driven by appreciation of our owned MSRs, sustained expense reduction actions and a continued focus on higher margin originations products

Ocwen Financial Announces Third Quarter 2022 Results

Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its third quarter 2022 results and provided a business update. The Company also announced an agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) for an incremental investment to acquire mortgage servicing rights (“MSRs”) through its MSR joint venture, MSR Asset Vehicle LLC (“MAV”)

By Ocwen Financial Corp.
Published - Nov 03, 2022, 06:52 AM ET
Last Updated - Apr 18, 2024, 10:20 AM EDT
  • Net income of $37 million and earnings per share of $4.33; annualized return on GAAP book equity of 27%
  • Net income includes MSR Fair Value Net gain of $53 million
  • Book Value Per Share of $69, up $14 from year-end 2021
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