Total mortgage originations weakened last year at Ocwen Financial Corp. But retail lending and reverse mortgage production both significantly increased. Also improving was delinquency.
Prior to income taxes, Ocwen had a $45 million loss during the final-three months of last year, according to its fourth-quarter earnings report.
Losses widened from $10 million in the same three months during 2016. But the West Palm Beach, Florida-based company cut its losses from $27 million the previous quarter.
Source: Mortgage Daily