Ocwen Financial Corporation (OCN)

[action8101]

http://www.themreport.com/headline/11-10-2016/morningstar-revises-forecast-ocwens-ranking-positive

[trendmkr]

Ocwen Financial Corp Swapping Notes
http://marketexclusive.com/ocwen-financial-corp-nyseocn-swapping-notes/35707/?icd1

[RonA r]

Some OCN news:

WEST PALM BEACH, Fla., Oct. 31, 2016 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (OCN), (NYSE:OCN) (“Ocwen” or the “Company”), a leading financial services holding company, today announced that it is currently in negotiations with certain holders of its 6.625% Senior Notes due 2019 (the “Outstanding Notes”) to exchange the Outstanding Notes at par for new second lien notes (the “New Notes”) to be issued by the Company’s subsidiary Ocwen Loan Servicing LLC (“OLS”) with an interest rate of 8.375% per annum and maturing in November 2022. The New Notes would be guaranteed by the Company and certain of its subsidiaries and would be secured on a second priority basis with the same collateral, subject to certain exceptions, that secures OLS’s senior secured term loan. While negotiations are ongoing, there can be no assurance that a final agreement will be reached.

Ongoing discussions are being held with holders representing approximately $230 million of the Outstanding Notes, all of which have signed non-disclosure agreements with the Company and qualify as either “qualified institutional buyers” under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”) or non-U.S. persons who are outside of the United States. If final agreement can be reached with such holders in the near term, it is contemplated that OLS will promptly make an offer to all eligible holders of Outstanding Notes to exchange their Outstanding Notes for New Notes on the same terms. Such an offer would be made only to those holders that are both (x) either (i) “qualified institutional buyers” (“QIBs”) within the meaning of Rule 144A under the Securities Act or (ii) not “U.S. persons” and are outside of the United States within the meaning of Regulation S under the Securities Act, and (y) “accredited investors” within the meaning of Rule 501 under the Securities Act. The information included in this press release is for purposes of complying with “cleansing” requirements under the non-disclosure agreements described above.

The New Notes have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and therefore may not be offered or sold in the United States or to, or for the account or benefit of, any United States person except pursuant to an exemption from the registration requirements of the Securities Act and other applicable securities laws.

[RonA r]

Bought more before close @ 4.16 yesterday after seeing it briefly top 4.40. If it dips below 4, I'll add more for sure. Why not?

[Yo-Yo]

You too Ron and I here ya been really wanting 4's for a second time now , 5's seem very possible in the very near future, hope you make a bundle here at OCN, and GLTUA !!!

[RonA r]

Indeed! I'm seeing a 10% short interest / 6 day coverage. Wondering if a squeeze might emerge with this generally bullish outlook. Mostly holding 1.47 - 1.78 range purchases myself, but even som 16.09s from almost two years ago. Would love to break even on those at some point. Good luck!

[Yo-Yo]

4's 4's were knocking on your doors , OCN!!!

[kelly25]

Ocwen upgraded at Compass Point

http://seekingalpha.com/news/3208688-ocwen-upgraded-compass-point

[venturecapp]

What’s Ocwen Financial After In Des Moines? http://marketexclusive.com/whats-ocwen-financial-corp-nyseocn-des-moines/25967/?icd1

[Yo-Yo]

Nice day so far keep it up OCN!!!

[Yo-Yo]

Gonna take a little longer than I thought to hit $4 OCN!!!

[Yo-Yo]

Looking good here OCN, keep pushing need 4 5 6 here

[Yo-Yo]

OCN needs to blow these little 3's outta the water here GLTUA!!!

[action8101]

Was wondering the same.

[Yo-Yo]

OCN what's the next move?

[Yo-Yo]

Time to break the hod here OCN and continue on up, up, up !!!

[Yo-Yo]

OCN doing well today where is everyone? GLTA!!!!

[action8101]

Certainly 5.
5.95 book value.

[Yo-Yo]

Looking even better ah!!!

[Yo-Yo]

Looking to get in here seems like $4-$6 on the horizon

[action8101]

ME Like!

[tripil7z]

$OCN book value $5.95

[tripil7z]

$OCN buying 2.05 for 2000 shares possible gap play

[willlbone]

Halted at 1.29

[action8101]

I'm back! :-/

[action8101]

I'm out!

[action8101]

I think it's a gold mine. We'll see.

[56Chevy]

OCN has fallen off a cliff. Its not known if OCN remains to be in the Hayman Capital Management portfolio but if it is its yet another enormous misfire. HCM went in 15 months ago for 3.26MM shares at $21.65 (roughly $71MM) ...and the stock currently sits at $2.22...OUCH.

Marker:
Ocwen Financial Corp (OCN)
$2.22 up 0.2 (9.90%)
Volume: 3,694,377

[action8101]

Where do the OCN investors hang out? Obviously, it's not here. Thanks.

[jzinvestment]

The move it made yesterday was way outside of it expected move given its average volatility. I'm not sure how one could expect much more than a 2 or 3 standard deviation move to the upside. The probability of yesterday's move was incredibly small.

[action8101]

I don't understand why the pps didn't climb higher today. What am I missing here?

[Robo Booty]

Good news. Lots of upside from here.

http://finance.yahoo.com/news/independent-expert-consultant-finds-rmbs-123000290.html

[robpad]

Wow... This thing is on a long term free fall

[TypicalSeminole]

Here. I feel bad for long time shareholders, but OCN looks like a bargain for newcomers.
It appears that the company is trading at a significant discount to BV

[jzinvestment]

Anyone here? Just grabbed some shares last week after the bleeding. Seems like a nice push up today.

[Seeker6]

Sorry about the double post.

[Seeker6]

http://shareholders.ocwen.com/releasedetail.cfm?ReleaseID=967222

[Seeker6]

http://shareholders.ocwen.com/releasedetail.cfm?ReleaseID=967222

[ErnieBilco]

Looks like it may get bloody here tomorrow.

[ClearlyStocks]

Looks like $3+ coming

[Bustajoy]

I smell it too. Been hurting for a while. Figured I'd get another 1k at market close on Thursday to average down some more. Hopefully it pays off soonest

[reddyfool]

I smell money Monday Morning IMO

http://ih.advfn.com/p.php?pid=nmona&article=70895698

[excuseme4saying]

On 3/8/10, another insider purchased a lot of shares. Apparently insiders are very confident in OCN's future.

http://shareholders.ocwen.com/secfiling.cfm?filingID=1019056-16-1173&CIK=873860

On 3/9/10, someone discovered the SEC filing and mentioned it on Yahoo market pulse. The stock is now trading at 2.84 in AH.

[$tock~$crooge!!]

Well looks like you've are having a nice ride north! :)
$OCN

[longhorn4lif]

Me too!

[perfectpicksfor -you]

Yes very good Day ,I would like to see it break $ 3.00 this week .

[longhorn4lif]

Great day so far

[longhorn4lif]

Nice post! Agree exciting week ahead! Go $OCN

[excuseme4saying]

I'm excited about OCN and the coming weeks.

1. On 3/1/16, after being hammered, OCN closed at 2.11 or 6 cents above its 52 week low of 2.05
2. On 3/2/16, ASPS scheduled CC for 3/10/16 to address fees, SEC investigation, and strategic options.
3. On 3/3/16, OCN's accountant bought 10K OCN shares via the open market.
4. On 3/4/16, large purchases took place in the AH. At 16:07 hours,
153,724 shares were purchased at a price of 2.38. At 16:09 hours, 239,403 shares were purchased at a price of 2.39. Whether the purchases were to cover a short position or establish a long position is irrelevant. No one invest in $300K or $500K expecting the PPS to drop.
5. On 3/10/16, ASPS will conduct the CC. Topics include - Strategic options, OCN fees, SEC investigation, and forward guidance.
6. On 3/18/16, options expire. The option interest and option volume at strike prices of $2.5 and $5 have increased.

Only time will tell whether OCN is bought out, sells off some assets, the SEC drops investigation, or all the above takes place.

Whatever OCN, ASPS, or NRZ comes up with, it seems that interest in OCN has been slowly picking up.

Yes. I'm long OCN. I established a position at 2.20 on 3/1/16. However, I am not married to the stock. I swing trade.

[meadow2009]

I think there are multiple problems this company has to deal with and which will scare away potential new investors

1) It is now a penny stock, how long will the NYSE keep them listed
2) Two directors did not stand for reelection, why? It is rare that a director does not run again and chooses to opt out. Neither were near retirement age so, why did they not want to stand for reelection.
3) Another SEC investigation. What company undergoes such scrutiny?
4) Can you trust the internal numbers given the restatements that were required?
5) With the SEC looking at Altisource will the calculation of fee charged or earned have to be recalculated or a change in formula occur that could effect future earnings or cash flows?

While, management can explain all they want,all of the above taken in its entirety is not good.

If one of the largest shareholders sold stock months ago for less than $6 a share per SEC filings, what does that say about faith in the Company.

Until the Company has two consecutive quarters of growth, slash in overhead expenses, improving cash flows and no regulatory complaints or inquiries this is dead money.

Naturally, management posts nothing on their web site giving comfort to the shareholders. Are they thinking a class action suit is in the making?