At a time when most of the industry is seeing origination gains, Ocwen Financial Corp. had a decline. Losses continued, and staffing was diminished, but delinquency improved.
Ocwen’s second-quarter earnings report reflected more than $28 million in losses before income taxes during the three months that finished on June 30.
The West Palm Beach, Florida-based company cut its losses from one year previous, when they came in $42 million. Earnings, however, swung from a $5 million first-quarter 2018 profit.
Source: Mortgage Daily