Ocwen (OCN) Is Still Bleeding … They Just Reported Another Loss In Earnings
Ocwen reminds me of the bleeding house in a horror movie. This is a $280M market cap company that has born what now must be north of $1B in regulatory-related costs (direct fines, monitor costs, additional legal/compliance). Ocwen is on life support.
Expect more Ocwen blood loss when they report earnings again. Ocwen affects Altisource. Steer clear of the mortgage segment.