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    SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

    3/1/23 2:33:36 PM ET
    $OCN
    Advertising
    Consumer Discretionary
    Get the next $OCN alert in real time by email
    SC 13G/A 1 brhc10049047_sc13ga.htm SC 13G/A
    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549



    SCHEDULE 13G
    Under the Securities Exchange Act of 1934
    (Amendment No. 6)*

    OCWEN FINANCIAL CORPORATION
    (Name of Issuer)

    Common Stock, par value $0.01 per share
    (Title of Class of Securities)

    675746606
    (CUSIP Number)

    February 28, 2023**
    (Date of Event which Requires Filing of this Statement)

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

    ☒ Rule 13d-1(b)
    ☐ Rule 13d-1(c)
    ☐ Rule 13d-1(d)

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

    ** This amendment No. 6 to Schedule 13G is being filed voluntarily to report that the Reporting Persons no longer beneficially own more than 10% of the Issuer’s Common Stock.

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

    Continued on following pages
    Page 1 of 14 Pages
    Exhibit Index: Page 11



    CUSIP No. 675746606
    Page 2 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    DEER PARK ROAD MANAGEMENT COMPANY, LP
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    Delaware
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    IA, PN
     
     
     
     


    CUSIP No. 675746606
    Page 3 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    DEER PARK ROAD MANAGEMENT GP, LLC
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    Delaware
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    OO, HC
     
     
     
     


    CUSIP No. 675746606
    Page 4 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    DEER PARK ROAD CORPORATION
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    Delaware
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    CO, HC
     
     
     
     


    CUSIP No. 675746606
    Page 5 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    MICHAEL CRAIG-SCHECKMAN
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    United States of America
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    IN, HC
     
     
     
     


    CUSIP No. 675746606
    Page 6 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    AGATECREEK LLC
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    Colorado
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    OO, HC
     
     
     
     


    CUSIP No. 675746606
    Page 7 of 14
    1
    NAMES OF REPORTING PERSONS
     
     
    SCOTT EDWARD BURG
     
     
     
     
    2
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
       
    (a)☐
       
    (b)☐
     
     
    3
    SEC USE ONLY
     
     
     
     
     
     
     
    4
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
     
    United States of America
     
     
     
     
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    5
    SOLE VOTING POWER
     
     
    0
     
     
     
     
    6
    SHARED VOTING POWER
     
     
    683,858
     
     
     
     
    7
    SOLE DISPOSITIVE POWER
     
     
    0
     
     
     
     
    8
    SHARED DISPOSITIVE POWER
     
     
    683,858
     
     
     
     
    9
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     
     
    683,858
     
     
     
     
    10
    CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
     
     
    ☐
     
     
     
     
    11
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
     
     
    9.09%
     
     
     
     
    12
    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
     
     
    IN, HC
     
     
     
     


    CUSIP No. 675746606
    Page 8 of 14
    Item 1(a).
    Name of Issuer:
    Ocwen Financial Corporation (the “Issuer”)

    Item 1(b).
    Address of Issuer’s Principal Executive Offices:
    1661 Worthington Road, Suite 100, West Palm Beach, Florida 33409

    Item 2(a).
    Name of Person Filing
    This Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”)


    i)
    Deer Park Road Management Company, LP (“Deer Park”);

    ii)
    Deer Park Road Management GP, LLC (“DPRM”);

    iii)
    Deer Park Road Corporation (“DPRC”);

    iv)
    Michael Craig-Scheckman (“Mr. Craig-Scheckman”);

    v)
    AgateCreek LLC (“AgateCreek”); and

    vi)
    Scott Edward Burg (“Mr. Burg”).

    This Statement relates to Shares (as defined herein) held for the account of STS Master Fund, Ltd. (the “STS Master Fund”), which is an exempted company organized under the laws of the Cayman Islands. Deer Park serves as investment adviser to the STS Master Fund and, in such capacity, exercises voting and investment power over the Shares held in the account for the STS Master Fund. DPRM is the general partner of Deer Park. Each of DPRC and AgateCreek is a member of DPRM. Mr. Craig-Scheckman is the Chief Executive Officer of each of Deer Park and DPRC and the majority owner of DPRC. Mr. Burg is the Chief Investment Officer of Deer Park and the sole member of AgateCreek.

    Item 2(b).
    Address of Principal Business Office or, if None, Residence:
    The address of the principal business office of each of the Reporting Persons is 1195 Bangtail Way, Steamboat Springs, Colorado 80487.

    Item 2(c).
    Citizenship:

    i)
    Deer Park is a limited partnership organized in Delaware;

    ii)
    DPRM is a limited liability company organized in Delaware;

    iii)
    DPRC is a Delaware corporation;

    iv)
    Mr. Craig-Scheckman is a citizen of the United States of America;

    v)
    AgateCreek is a limited liability company organized in Colorado; and

    vi)
    Mr. Burg is a citizen of the United States of America.

    Item 2(d).
    Title of Class of Securities:
    Common Stock, par value $0.01 per share (the “Shares”)

    Item 2(e).
    CUSIP Number:
    675746606

    Item 3.
    If This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:

    (e)
    ☒ An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

    (g)
    ☒ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

    Item 4.
    Ownership:

    Item 4(a)
    Amount Beneficially Owned:
    As of February 28, 2023, each of the Reporting Persons may be deemed the beneficial owner of 683,858  Shares held for the account of the STS Master Fund.

    Item 4(b)
    Percent of Class:
    As of February 28, 2023, each of the Reporting Persons may be deemed the beneficial owner of approximately 9.09% of Shares outstanding (based on 7,526,117 Shares outstanding as of December 31, 2022, according to information published on the Issuer’s website on February 28, 2023 announcing Fourth Quarter 2022 Earnings).


    CUSIP No. 675746606
    Page 9 of 14
    Item 4(c)
    Number of Shares as to which such person has:
    (i) Sole power to vote or direct the vote:
    0
    (ii) Shared power to vote or direct the vote:
    683,858
    (iii) Sole power to dispose or direct the disposition of:
    0
    (iv) Shared power to dispose or direct the disposition of:
    683,858

    Item 5.
    Ownership of Five Percent or Less of a Class:
    This Item 5 is not applicable.

    Item 6.
    Ownership of More than Five Percent on Behalf of Another Person:
    See disclosure in Items 2 and 4 hereof. STS Master Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5 percent of the Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons.

    Item 7.
    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person:
    See disclosure in Item 2 hereof.

    Item 8.
    Identification and Classification of Members of the Group:
    This Item 8 is not applicable.

    Item 9.
    Notice of Dissolution of Group:
    This Item 9 is not applicable.

    Item 10.
    Certification:
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.


    CUSIP No. 675746606
    Page 10 of 14
    SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     
    DEER PARK ROAD MANAGEMENT COMPANY, LP
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Chief Operating Officer
     
    DEER PARK ROAD MANAGEMENT GP, LLC
     
    By:
    Deer Park Road Corporation, its managing member
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation
     
    DEER PARK ROAD CORPORATION
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation
     
    MICHAEL CRAIG-SCHECKMAN
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman
     
    AGATECREEK LLC
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Scott Edward Burg, Sole Member of AgateCreek LLC
     
    SCOTT EDWARD BURG
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Scott Edward Burg
    March 1, 2023
     
     


    CUSIP No. 675746606
    Page 11 of 14
    EXHIBIT INDEX
    Ex.
     
    Page No.
     
     

    A
    Joint Filing Agreement
    12
    B
    Power of Attorney for Michael Craig-Scheckman
    13
    C
    Power of Attorney for Scott Edward Burg
    14


    CUSIP No. 675746606
    Page 12 of 14
    EXHIBIT A
    JOINT FILING AGREEMENT

    The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Stock of Ocwen Financial Corporation dated as of March 1, 2023 is, and any amendments thereto (including amendments on Schedule 13D) signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

     
    DEER PARK ROAD MANAGEMENT COMPANY, LP
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Chief Operating Officer
     
    DEER PARK ROAD MANAGEMENT GP, LLC
     
    By:
    Deer Park Road Corporation, its managing member
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation
     
    DEER PARK ROAD CORPORATION
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Road Corporation
     
    MICHAEL CRAIG-SCHECKMAN
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Michael Craig-Scheckman
     
    AGATECREEK LLC
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Scott Edward Burg, Sole Member of AgateCreek LLC
     
    SCOTT EDWARD BURG
     
    By:
    /s/ Bradley W. Craig
     
    Name:
    Bradley W. Craig
     
    Title:
    Attorney-in-fact for Scott Edward Burg


    CUSIP No. 675746606
    Page 13 of 14
    EXHIBIT B
    POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENT, that I, Michael Craig-Scheckman, hereby make, constitute and appoint Bradley W. Craig, acting individually, as my agent and attorney-in-fact for the purpose of executing in my name, (a) in my personal capacity or (b) in my capacity as Chief Executive Officer of Deer Park Road Corporation, a Delaware corporation, all documents, statements, filings and agreements (“documents”) relating to (1) the beneficial ownership of securities required to be filed with the United States Securities and Exchange Commission (the “SEC”) pursuant to Section 13(d) or Section 16(a) of the Act, including, without limitation: (a) any acquisition statements on Schedule 13D or Schedule 13G and any amendments thereto, (b) any joint filing agreements pursuant to Rule 13d-1(k), and (c) any initial statements of, or statements of changes in, beneficial ownership of securities on Form 3, Form 4 or Form 5 and (2) any information statements on Form 13F required to be filed with the SEC pursuant to Section 13(f) of the Act.

    All past acts of the attorney-in-fact in furtherance of the foregoing are hereby ratified and confirmed. This Power of Attorney shall remain in effect until revoked, in writing, by the undersigned.

    IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney, this 6th day of December, 2018.

     
    /s/ Michael Craig-Scheckman
     
    Michael Craig-Scheckman


    CUSIP No. 675746606
    Page 14 of 14
    EXHIBIT C
    POWER OF ATTORNEY

    KNOW ALL MEN BY THESE PRESENT, that I, Scott Edward Burg hereby make, constitute and appoint Bradley W. Craig, acting individually, as my agent and attorney-in-fact for the purpose of executing in my name, (a) in my personal capacity or (b) in my capacity as sole member AgateCreek, LLC, a Delaware Limited Liability Company, all documents, statements, filings and agreements (“documents”) relating to (1) the beneficial ownership of securities required to be filed with the United States Securities and Exchange Commission (the “SEC”) pursuant to Section 13(d) or Section 16(a) of the Act, including, without limitation: (a) any acquisition statements on Schedule 13D or Schedule 13G and any amendments thereto, (b) any joint filing agreements pursuant to Rule 13d-1(k), and (c) any initial statements of, or statements of changes in, beneficial ownership of securities on Form 3, Form 4 or Form 5 and (2) any information statements on Form 13F required to be filed with the SEC pursuant to Section 13(f) of the Act

    All past acts of the attorney-in-fact in furtherance of the foregoing are hereby ratified and confirmed. This Power of Attorney shall remain in effect until revoked, in writing, by the undersigned.

    IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney, this 6th day of December, 2018.

     
    /s/ Scott Edward Burg
     
    Scott Edward Burg



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      5/30/24 4:15:10 PM ET
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    • Ocwen Financial Announces First Quarter 2024 Results

      Net income of $30 million and diluted earnings per share of $3.74; annualized return on equity of 29%Adjusted pre-tax income of $14 million, driven by servicing segment; achieved 13.8% annualized adjusted pre-tax return on equityRepurchased $47 million in PHH senior secured notes below par$23 billion in total servicing additions ($19 billion in subservicing additions)Moody's Ratings upgraded corporate family rating to B3 in April 2024 WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its first quarter 2024 results and provided a business update.

      5/2/24 6:45:00 AM ET
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    • Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update

      WEST PALM BEACH, Fla., April 24, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, May 2, 2024 at 8:30 a.m. (ET) to review the Company's first quarter 2024 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 343-4849 or (203) 518-9848 approximately 10 minutes prior to the call; please reference the conference ID "Ocwen." Participants can also access the conference call through a live audio webcast available from the Shareholder Relat

      4/24/24 5:24:05 PM ET
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    • Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results

      Net loss of $64 million for 2023, driven by $89 million reduction in unrealized MSR value change due to rates and assumptions, net of hedgeAdjusted pre-tax income of $49 million for 2023, driven by strong servicing performanceAchieved GAAP operating expense reduction over $120 million, or 23%, compared to 2022Total liquidity of $242 million as of December 31, 2023, an increase of 10% over December 31, 2022 WEST PALM BEACH, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its full year and fourth quarter 2023 results and provided a busin

      2/27/24 6:45:00 AM ET
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    • SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

      SC 13G/A - OCWEN FINANCIAL CORP (0000873860) (Subject)

      2/14/24 5:08:53 PM ET
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    • SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

      SC 13G/A - OCWEN FINANCIAL CORP (0000873860) (Subject)

      2/14/24 4:10:14 PM ET
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    • SEC Form SC 13G/A filed by Ocwen Financial Corporation NEW (Amendment)

      SC 13G/A - OCWEN FINANCIAL CORP (0000873860) (Subject)

      2/14/24 12:16:57 PM ET
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    • Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors

      WEST PALM BEACH, Fla., April 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced the appointment of Claudia J. Merkle to its Board of Directors ("Board"), effective April 1, 2024. "We are very pleased to welcome Claudia to the Ocwen Board," said Glen A. Messina, Chair, President and CEO of Ocwen. "Claudia is an accomplished and well-respected mortgage industry executive with deep public company experience. Her collaborative leadership style and significant industry knowledge spanning risk management and technology innovation to sales and operations, as well as emerging corporat

      4/2/24 6:45:00 AM ET
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    • Selina Announces Key Board Appointment and Formation of New Board Committee

      Selina Hospitality PLC ("Selina" or the "Company"), (NASDAQ:SLNA), the fast-growing lifestyle and experiential hospitality company targeting millennial and Gen Z travelers, is proud to announce the appointment of Alan Bowers as the newest independent director on its Board of Directors, effective as of March 17, 2023. In addition, as part of Selina's commitment to corporate governance, the Board has established a Finance and Capital Allocation Committee to help oversee budgeting, capital allocation and significant transactions. Catherine Dunleavy, who has stepped down as chair of, but remains a member of, the Audit Committee was appointed as chair of the new committee. The establishment of t

      3/20/23 8:30:00 AM ET
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    • Ocwen Financial Appoints Sean O'Neil Executive Vice President and Chief Financial Officer

      WEST PALM BEACH, Fla., May 18, 2022 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced the appointment of Sean O'Neil as Executive Vice President and Chief Financial Officer, effective June 13, 2022. Mr. O'Neil brings to Ocwen significant financial leadership experience in the mortgage sector, and he will be responsible for leading the Company's global finance organization. He joins Ocwen from Bayview Asset Management, LLC, where he served as the company's Chief Financial Officer since 2015. Prior to this role, he held a number of senior positions at financial institutions, including s

      5/18/22 4:15:00 PM ET
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    • Ocwen Financial Officially Rebrands as Onity™ Group

      WEST PALM BEACH, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE:ONIT) ("Onity" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that it has officially started operating under its new brand name effective Monday, June 10, 2024, replacing its former name, Ocwen Financial Corporation. The Company's common stock is expected to begin trading on the New York Stock Exchange under the symbol "ONIT" at market open today. Glen A. Messina, Chair, President and CEO of Onity Group, said, "Today marks the start of a new era for our Company and signifies our transformation, growth and expansion into a balanced and diversified business. We are proud

      6/10/24 6:45:00 AM ET
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    • Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group

      New name and NYSE trading symbol ("ONIT") expected to be effective June 10, 2024PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024 WEST PALM BEACH, Fla., May 28, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced that the Company has obtained the necessary approval from its shareholders to change the name of Ocwen to Onity™ Group Inc. Glen A. Messina, Chair, President and CEO of Ocwen, said, "We are very pleased that our shareholders have approved our name change to Onity Group. We look forward to this new chapter in our Company's history and to operating unde

      5/28/24 4:15:00 PM ET
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    • Ocwen Financial Announces First Quarter 2024 Results

      Net income of $30 million and diluted earnings per share of $3.74; annualized return on equity of 29%Adjusted pre-tax income of $14 million, driven by servicing segment; achieved 13.8% annualized adjusted pre-tax return on equityRepurchased $47 million in PHH senior secured notes below par$23 billion in total servicing additions ($19 billion in subservicing additions)Moody's Ratings upgraded corporate family rating to B3 in April 2024 WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company"), a leading non-bank mortgage servicer and originator, today announced its first quarter 2024 results and provided a business update.

      5/2/24 6:45:00 AM ET
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