Ocwen Financial Corp. reported growth in mortgage assets and improvement in delinquency. Servicing, however, declined, while losses continued, and originations were mixed.
From July 1 until Sept. 30 of this year, the West Palm Beach, Florida-based firm suffered a pre-tax loss of $27 million, according to its third-quarter earnings report.
Earnings swung from a $2 million profit in the same-three months during 2016. But losses at Ocwen subsided compared to $42 million in the prior three-month period.
Source: Mortgage Daily