Nationstar Mortgage Holdings Inc. (NSM)

[Enterprising Investor]

Ocwen upgraded at Compass Point; shares higher by 13% premarket (4/21/17)

Apr. 21, 2017 9:12 AM ET|About: Ocwen Financial Corporation (OCN)|By: Stephen Alpher, SA News Editor

Fred Small at Compass Point has been a notable bear on Ocwen Financial (NYSE:OCN) in the past, so his upgrade to Buy this morning is at least somewhat notable. Shares are higher by 13% in active premarket action, but the move is barely a blip compared to yesterday's 53% washout.

Wedbush's Hencry Coffey says Nationstar Mortgage (NYSE:NSM) could be a beneficiary of the latest Ocwen issues, maybe taking over the servicing Ocwen currently handles for New Residential, or possibly picking up business from Walter Investment (NYSEMKT:WAC) or PHH.
Altisource Portfolio Solutions (NASDAQ:ASPS) +7.3%; Altisource Residential (NYSE:RESI) +2.4%

New Residential (NYSE:NRZ) +2.6%

Previously: Ocwen takes issue with state regulators (April 21)

https://seekingalpha.com/news/3258669-ocwen-upgraded-compass-point-shares-higher-13-percent-premarket