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Stock Market & Financial Investment News

News Breaks
February 12, 2013
16:36 EDTASPS, OCNAltisource Solutions enters letters of intent to buy some Ocwen units
Altisource Portfolio (ASPS) said it has entered into non-binding letters of intent with Ocwen Financial (OCN) to acquire certain fee-based businesses related to Ocwen's recently acquired Homeward Residential Holdings mortgage servicing and origination business platform and Ocwen's anticipated purchase of the mortgage servicing platform from Residential Capital for a combined purchase price of $218.6M. In connection with the proposed transactions, Altisource and Ocwen will execute a five-year extension until 2025 of certain existing services agreements.
News For ASPS;OCN From The Last 14 Days
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May 20, 2015
13:13 EDTOCNLawsky to step down as head of NYDFS, Bloomberg reports
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May 18, 2015
12:59 EDTOCNOcwen says SEC conducting probe into use of mortgage collection agents
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12:59 EDTOCNOcwen says SEC conducting probe into use of mortgage collection agents
09:25 EDTOCNOn The Fly: Pre-market Movers
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08:09 EDTOCNOcwen in full compliance with NYSE continued listing requirements
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06:53 EDTOCNOcwen says in talks with lender for renenwal, replacement or extension of debt
In a regulatory filing, Ocwen stated: "We currently are in negotiations with our lenders for the renewal, replacement or extension of our debt arrangements that mature or begin amortization in 2015. We may also consider other capital markets transactions including, but not limited to, the sale and financing of advance receivables in the event we do not renew, replace or extend a portion or all of our existing advance financing facilities. We have entered into commitment letters to refinance certain of our debt agreements and extended certain facilities ahead of their scheduled maturity...Our lenders’ obligations to fund under these commitment letters are subject to conditions precedent, some of which are outside our control. In the event we are unable to renew, replace or extend all of these debt agreements, we may not have adequate sources of funding for our business. Due to the significant level of cash requirements related to servicing advances, we may not have sufficient levels of liquidity to fund the operations without our advance financing facilities. We typically require significantly more liquidity to meet our advance funding obligations than our available cash on hand."
May 15, 2015
11:08 EDTASPSOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
07:09 EDTOCNHayman Capital gives quarterly update on stakes
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May 14, 2015
09:31 EDTOCNJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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09:31 EDTOCNJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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May 11, 2015
17:57 EDTOCNOcwen files 2014 10-K without 'going concern' qualification
Ocwen Financial Corporation announced that it has filed its 2014 Form 10-K with the SEC. "We believe the filing of our 2014 Form 10-K, without a qualification as to our ability to operate as a going concern, is additional evidence that our strategy to strengthen our compliance management system, strengthen the service we provide to our customers and improve our financial stability is working and that confidence in the company is being restored," stated Ocwen CEO Ron Faris.

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