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Stock Market & Financial Investment News

News Breaks
February 27, 2014
07:42 EDTOCN, WFCOcwen Financial says working cooperatively with the NYDFS to address concerns
Ocwen (OCN) said "We are working cooperatively with the New York Department of Financial Services to address its concerns that led to an indefinite hold on our transaction with Wells Fargo (WFC). Longer-term we believe developments remain positive for our business, particularly in three areas. First, prepayments continue to trend lower, lengthening the duration of our assets. Secondly, Ocwen's continued ability to help homeowners with foreclosure alternatives along with an improving economy continues to drive down delinquencies on loans we service and further slows prepayments. Lastly, the OASIS financing that we just closed should enhance our prime origination business. Oasis enables us to reduce our exposure to prepayment risk and lower our cost of capital disadvantage vis--vis commercial banks."
News For OCN;WFC From The Last 14 Days
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August 27, 2014
08:00 EDTWFCSEC seen completing rules on MBS detail disclosures, WSJ says
The Securities and Exchange Commission is expected to complete rules requiring banks and other financial institutions to give investors greater detail about the quality of mortgages and other loans pooled into bonds known as asset-backed securities, reported The Wall Street Journal. Publicly traded big U.S banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
August 21, 2014
06:43 EDTWFCRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
06:46 EDTOCNSEC sought information on Ocwen Financial's ties to other firms, NY Times says
Ocwen Financial has received a subpoena from the SEC for documents relating to other companies with which it does business, the company reported in a regulatory filing earlier this week, according to The New York Times. The executive chairman of Ocwen, William Erbey, is chairman of some of these other companies, the newspaper stated. Reference Link
06:02 EDTWFCWells Fargo wins approval for $62.5M settlement, Charlotte Observer says
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August 19, 2014
13:42 EDTWFCWells Fargo looks to bulk up asset-management business, WSJ says
Wells Fargo is looking to increase the size of its asset-management business to over $1T over the next decade by making acquisitions of smaller asset managers and more aggressive sales to larger investors, says the Wall Street Journal. Reference Link
August 18, 2014
09:35 EDTWFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
07:10 EDTOCNOcwen Financial discloses material weakness in internal control
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August 14, 2014
14:13 EDTOCNOmega Advisors gives quarterly update on stakes
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