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Stock Market & Financial Investment News

News Breaks
March 6, 2013
11:47 EDTPANL, OCN, THRX, DECKOptions with decreasing implied volatility: DECK OCN PANL THRX
News For DECK;OCN;PANL;THRX From The Last 14 Days
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December 18, 2014
08:50 EDTOCNOcwen facing new probe over delays on underwater home sales, Bloomberg says
The New York Department of Financial Services and the Consumer Financial Protection Bureau are investigating whether Ocwen improperly delayed short sales by borrowers who are underwater on their homes, according to Bloomberg, citing two people briefed on the case. A spokeswoman for Ocwen said the company “has no desire to delay short sales” and that costs increase when the process is prolonged, Bloomberg noted. Reference Link
December 17, 2014
10:23 EDTDECKDeckers Outdoor UGG sales likely to lead to Q3 beat, says Sterne Agee
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December 16, 2014
08:58 EDTOCNOcwen says will file corrective action plans as needed based on OMSO report
Ocwen Financial has been working closely with the Office of Mortgage Settlement Oversight, or OMSO, on two issues identified in the report covering the first six months of 2014, the National Mortgage Settlement Monitor said in a public filing, according to the company. OMSO's fourth report on mortgage servicers' compliance with the National Mortgage Settlement discloses two items that precluded the Monitor from reporting on Ocwen's progress for the first half of 2014. The first concerns the processes used by the company's NMS Internal Review Group and was flagged by a complaint from an IRG employee. The IRG is responsible for reporting on Ocwen's compliance with the NMS. The second issue concerns the letter dating issue raised by the New York Department of Financial Services in October. To the extent the Monitor determines that Ocwen did not meet the minimum compliance standards mandated by the NMS in any period, Ocwen will file a corrective action plan in accordance with the NMS protocols.
06:45 EDTOCNRegulator says Ocwen reports unreliable, NY Times reports
A monitor put in place as part of a mortgage settlement between banks and the government said he could not rely on information provided by Ocwen Financial, according to The New York Times.The monitor, Joseph Smith, Jr., said he concluded that he could not rely on Ocwen's reports for the first half of 2014, the newspaper explained. Ocwen said it would seek to allay Smith's concerns, The Times reported.
December 12, 2014
16:06 EDTOCNOcwen announces $253M early buyout of mortgages from Ginnie Mae pools
Ocwen Financial announced the purchase of 1,705 delinquent FHA-insured loans with a principal balance of $253.1M from Ginnie Mae pools for which Ocwen Loan Servicing was already the servicer. The purchase was made by the company's mortgage servicing arm, Ocwen Loan Servicing, and closed on December 1. On the same day, the Ginnie Mae EBO Loans were sold to an unrelated third party. Ocwen Loan Servicing will remain the servicer of the loans. Ocwen's Ginnie Mae buyout program began in the first quarter of 2014. "We expect to execute more such purchases in the next few months, as long as market conditions are favorable," said John Britti, Chief Investment Officer.
13:31 EDTOCNOcwen misdating issue being reviewed by Treasury, Inside Mortgage Finance says
Ocwen’s misdating of loan modification letters has been a subject of focus for the NYDFS, as widely reported, but in the Treasury Department is now also reviewing what impact Ocwen's misdating may have had on the Making Home Affordable program, reported Inside Mortgage Finance. Reference Link
December 5, 2014
08:11 EDTDECKDeckers Outdoor well positioned for strong Q3 finish, says Canaccord
Canaccord believes Deckers Outdoor is well positioned for a strong Q3 finish, as its low quarter-to-date order cancellation rate bodes well for the company. The firm sees its weatherized boot category selling well, which supports the firm's belief that sales of Uggs are tracking ahead do guidance. Canaccord reiterated its Buy rating and $108 price target on Deckers Outdoor shares.
December 4, 2014
07:51 EDTDECKDeckers Outdoor shares going to $130, says Jefferies
Jefferies predicts shares of Deckers Outdoor are going to $130 after hosting investor meetings with management. The firm says management was "very upbeat" regarding the start of the holiday season. Jefferies thinks next year's UGG offerings will continue to drive positive momentum in 2015. It reiterates a Buy rating on Deckers with a $130 price target. Shares of the UGG maker rose 68c yesterday to $96.54.

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