Ocwen (OCN) stock is at record lows this morning. The price is $1.50. That’s the maybe profit on a $3 mortgage inspections. Things are extremely bad when you can take the measly, cheap, mean, miserly, parsimonious, close-fisted, penny-pinching, cheeseparing, grasping, ungenerous, illiberal profit from a mortgage inspection and can purchase one share of stock (Ocwen) of a major bank mortgage servicer.
The mortgage segment is the home of $3 mortgage inspections and 99.5% of the fraud, greed and corruption in the industry. The mortgage segment is a dead battery … it has lost its “juice”. It’s dead! It’s time to toss the battery. It’s dead … very dead. There is no money to be made with low-fee mortgage inspections.