Liberty Parent Posts Strong Results, Cites Reverse as Key to Portfolio Diversity

Ocwen Financial Corporation (NYSE: OCN), parent company of top 5 reverse mortgage lender Liberty Reverse Mortgage, today announced strong fourth quarter 2020 earnings results and cited its reverse mortgage division as a continuing driver of profitability in an earnings call taking place on Wednesday morning. As the company continues to implement practices to further stabilize […]

Liberty Parent Ocwen and CFPB Fail to Settle Mediation on 2017 Suit

Liberty Reverse Mortgage and PHH Mortgage Corp parent company Ocwen Financial Corporation announced today that it has concluded its court-ordered mediation process with the Consumer Financial Protection Bureau (CFPB), a process which has failed to produce a settlement. “We are disappointed that settlement discussions with the CFPB did not resolve this matter, in particular since […]

Liberty Parent Touts ‘Very Profitable’ Reverse Mortgage Business as Fortunes Improve

Ocwen Financial Corporation (NYSE: OCN), parent company of top 5 reverse mortgage lender Liberty Reverse Mortgage, announced in an earnings call on Tuesday that it has posted its fourth consecutive quarter of positive adjusted pretax income as it has aggressively sought to return to profitability. In the midst of that announcement, the company also touted […]

Ocwen Stock Drops Below NYSE Standard

Ocwen Financial Corporation, the parent company of reverse mortgage lender Liberty Reverse Mortgage, has been notified by the New York Stock Exchange (NYSE) that the average per share trading price of its common stock was below the NYSE’s minimum average share price rule, which could potentially lead to the stock’s delisting from the exchange without […]

Liberty Home Equity Solutions Rebrands, Becomes PHH Division

Liberty Home Equity Solutions, a reverse mortgage lender and division of Ocwen Financial Services, has rebranded under a new and simplified brand name: Liberty Reverse Mortgage, a name which calls back to the company’s roots. The company will also begin operating as a division of PHH Mortgage Corporation. Both measures are effective as of March […]

Liberty Parent Touts Reverse Business While Inching Back to Profitability

Ocwen Financial Corporation, parent company to reverse mortgage lender Liberty Home Equity Solutions, touted the ongoing growth of the reverse mortgage business while reaffirming its scheduled return to overall profitability, according to financial documents released this week and a Tuesday morning earnings call. “Our reverse mortgage lending business is now ranked as the number three […]

Liberty Parent Continues Inching Back into the Black

Ocwen Financial Corporation, parent company to reverse mortgage lender Liberty Home Equity Solutions, is beginning to see its reorganization efforts steer the company back toward financial profitability, however it endured a loss in the third quarter of 2019 that is slightly higher than the recorded loss the same time one year prior, according to financial […]

Judge Dismisses CFPB Case Against Ocwen, Though Bureau Can Refile

A case levied against Ocwen Financial Corporation (NYSE: OCN) by the Consumer Financial Protection Bureau (CFPB) in 2017 has been dismissed by a federal judge in Florida, though the Bureau has the option to refile the case if it so chooses, according to a story in National Mortgage News. Originally filed by the Bureau in […]

Liberty Parent Ocwen Touts Reverse Profitability, EquityIQ Launch

Ocwen Financial Corporation (NYSE: OCN), parent company of Liberty Home Equity Solutions, recorded strong numbers in its reverse mortgage business in Q2 2019 in spite of the company’s larger aim to return to overall profitability, according to financial documents released this week and a Tuesday morning earnings call. “Our reverse lending business recorded pre-tax income […]