Ocwen Faces Possible Delisting From NYSE

Ocwen

Ocwen Faces Possible Delisting From NYSE

Failure to file 2014 financial statement is cited

Ocwen Financial Corp. disclosed late Monday after the market closed that it had been threatened with a possible delisting by the New York Stock Exchange for failing to file its 2014 annual financial statement on time, and that it wasn’t certain when it would file the required statements.

Ocwen said that the principal reason it had missed deadlines to make the disclosures was because it needed more time “to analyze and review” an affiliated company that finances the purchase of mortgage-servicing rights for Ocwen. The company is looking into whether the company, Home Loan Servicing Solutions Ltd., has the “ability to continue to meet its obligations to fund new servicing advances.”

Ocwen didn’t explain if the affiliate, HLSS, was facing financial or liquidity constraints, but it said “a failure by HLSS to fund new servicing advances could have a material negative impact on the Company’s financial condition.”

Ocwen didn’t disclose any further information on its own financial condition or HLSS.

More here…

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Comments
4 Responses to “Ocwen Faces Possible Delisting From NYSE”
  1. the principal reason it had missed deadlines to make the disclosures was because it needed more time “to analyze and review” an affiliated company that finances the purchase of mortgage-servicing rights for Ocwen.

  2. Ocwen said that the principal reason it had missed deadlines to make the disclosures was because it needed more time “to analyze and review” an affiliated company that finances the purchase of mortgage-servicing rights for Ocwen. The company is looking into whether the company, Home Loan Servicing Solutions Ltd., has the “ability to continue to meet its obligations to fund new servicing advances.”

  3. Mary CS says:

    My home has been vacant since last June; luckily I don’t live (in a temporary place, I’m hoping) that far away so was able to return periodically to mow, trim weeds/ bushes, rake and bag leaves and shovel snow so I wouldn’t risk being cited (they never bothered to change the title – still shows my name from a 1984 quitclaim deed by my ex.)
    Although Ocwen supposedly ‘bought’ the house last spring (probably a ‘straw buyer’) and the sale was approved (judge refused to hear about the obvious robo-signing by Scott Anderson, the MERS mucking up title as well as the now-broken chain of title due to securitization in US Bsnk ‘trust’) earlier in March a guy purporting to be from – ta-da! – U.S. Bank came to ‘evict’ us. What a hoot! Told him that everything (including major appliances) was long gone since summer. He had no idea of Ocwen’s role – and none of the atty’s in court were from US Bank. Told him to tell his corporate honchos to get off their butts, grab a shovel or rake and get out to care for the place – otherwise they could expect see a lot more of me. As a matter of fact, they will anyway, as it looks like i finally found an attorney who can and will actually do some work on my behalf to get the sale revoked.

  4. concerned21 says:

    What happens to the people that vacated their homes due to an illegal foreclosure and the homes remain vacant? This is not our case but know of a few of these!

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