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Stock Market & Financial Investment News

News Breaks
February 24, 2014
11:43 EDTMYL, GGB, KMP, OCNOptions with increasing implied volatility: OCN GGB MYL KMP
News For OCN;GGB;MYL;KMP From The Last 14 Days
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December 18, 2014
10:41 EDTMYLHigh option volume stocks
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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 16, 2014
09:52 EDTMYLFDA ruling on generic Celebrex reversed by appeals court
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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 11, 2014
07:32 EDTMYLMylan launches generic version of Hikma Maple's Robaxin injection
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07:06 EDTMYLMylan launches generic version of Orapred ODT
Mylan announced the U.S. launch of its Prednisolone Sodium Phosphate Orally Disintegrating Tablets, 10 mg, 15 mg, and 30 mg. This product is the first generic version of Shionogi's Orapred ODT. Mylan received final approval from the FDA for its Abbreviated New Drug Application for Prednisolone Sodium Phosphate Orally Disintegrating Tablets, 10 mg, 15 mg, and 30 mg, and was awarded 180 days of generic drug marketing exclusivity. This product is indicated as an anti-inflammatory or immunosuppressive agent for certain conditions; and also for the treatment of certain endocrine conditions, and for palliation of certain neoplastic conditions. Prednisolone Sodium Phosphate Orally Disintegrating Tablets had U.S. sales of approximately $19.9M for the 12 months ending September 30.
December 10, 2014
07:38 EDTMYLMylan launches generic version of Pfizer's Celebrex capsules
Mylan (MYL) announced the U.S. launch of its Celecoxib Capsules, 50 mg, 100 mg, 200 mg, and 400 mg, one of the first available generic versions of Pfizer's (PFE) Celebrex Capsules, indicated for the relief of the signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis, and for the management of acute pain in adults. Celecoxib Capsules had U.S. sales of approximately $2.5B for the 12 months ending September 30, 2014.
December 8, 2014
11:30 EDTMYLLeerink generics pharmaceutical analyst holds analyst/industry conference call
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