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Stock Market & Financial Investment News

News Breaks
May 21, 2014
09:50 EDTWAC, OCN, NSM, ASPSLawsky says extending probe of Ocwen, other mortgage servicers
Benjamin Lawsky, Superintendent of Financial Services for the State of New York, delivered remarks yesterday at the Mortgage Bankers Association National Secondary Market Conference, during which he said the regulator has highlighted its concerns about ancillary services with "one particular non-bank servicer," most likely referring to Ocwen Financial (OCN), which the regulator has said it is probing. However, Lawsky added "they are not the only industry player doing this. So you should expect us to expand our investigation into ancillary services in the coming weeks and months," according to prepared remarks posted to the DFSNY website. Altisource Portfolio Solutions (ASPS) was previously spun-off from Ocwen. Other mortgage servicing companies include Nationstar (NSM) and Walter Investment (WAC). Reference Link
News For OCN;ASPS;NSM;WAC From The Last 14 Days
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May 27, 2015
16:41 EDTOCNOcwen to discontinue residential servicing operations at Houston facility
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May 20, 2015
13:13 EDTOCNLawsky to step down as head of NYDFS, Bloomberg reports
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May 19, 2015
16:19 EDTNSMNationstar Chief Strategy and External Affairs Officer to resign June 19
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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 EDTOCN, NSMHayman 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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