BNET Industries

Market Cap:$946.4M
Last Fiscal Year Sales:$492.1M
  • Public
  • US
Dow Jones Description

Ocwen Financial Corporation (OCN) is a leading asset manager and business process solutions provider specializing in loan servicing, special servicing and mortgage services. OCN is headquartered in West Palm Beach, Florida with offices in Arizona, California, Florida, Georgia and New York and global operations in Germany, Canada, Uruguay and India. OCN is a Florida corporation organized in February 1988 in connection with the acquisition of Ocwen Federal Bank FSB (the Bank). Effective June 30, 2005, the Bank voluntarily terminated its status as a federal savings bank. This process, which we referred to as "debanking," was approved by the Office of Thrift Supervision (OTS) and resulted in the divestiture to Marathon National Bank of New York (Marathon) of the Bank's deposit liabilities and the assignment of the Bank's remaining assets and liabilities to Ocwen Loan Servicing, LLC (OLS). We continued the Bank's non-depository businesses, including its residential mortgage servicing business, under OLS, which is a licensed servicer in all 50 states, the District of Columbia and Puerto Rico. On June 6, 2007, we acquired NCI Holdings, Inc. (NCI) for $57,000 in cash, including $2,000 of closing adjustments. NCI, through its operating subsidiary, Nationwide Credit, Inc., is ranked as one of the top 10 U.S. companies in the accounts receivable management industry. ...

President
William Erbey
Number of Employees 4,146
Contact Information

1661 Worthington Rd Ste 100

West Palm Beach, Florida 33409

ocwen.com

(561) 682-8400

NAICS Code Real Estate Credit: 522292

Recent Events

  • Ocwen Financial posts $42M Q3 loss over one-time tax expense

    11/05/09 - Financial Announcement - View Story

  • Northland Securities Starts Ocwen Financial OCN at Outperform

    10/26/09 - Bond / Stock Rating - View Story

  • Mortgage Servicer Ocwen: Ready to Roll Up

    10/14/09 - Joint Venture / Alliance - View Story

  • Barclays Initiates Coverage on Ocwen Financial OCN with an Overweight

    9/29/09 - Bond / Stock Rating - View Story

  • Appointments

    9/07/09 - Mgmt. Change Entering - Other - View Story

  • Ocwen turns profit, plans $250M offering

    8/04/09 - Mgmt. Change Entering - Manager - View Story

News & Analysis

ocwen financial corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
William Erbey President
William Shepro President and Chief Operating Officer
Daniel C. O'Keefe Chief Accounting Officer & Vice President
Daniel J. Seguine Vice President and Chief Accounting Officer
David J. Gunter Executive Vice President and Chief Financial Officer
Paul A. Koches Executive Vice President and General Counsel
Mark S. Zeidman Senior Vice President
John Ryan
Warner Griswold
Kevin J. Wilcox Secretary
Ronald Faris President
William H Lacy Director

Board of Directors

Name (plus bio) Position
Ronald J. Korn Chairman
Barry N Wish Board of Directors
David Reiner Board of Directors
Martha C. Goss Board of Directors
W.C. Martin Board of Directors

Array

Organization Position Status
Ocwen Financial Corporation President Current
Ocwen Financial Corporation Managing General Partner Former
Oxford Financial Group, Inc. Managing General Partner Former
Harvard University Masters of Business Administration Former
Allegheny College Bachelor of Arts In Economics Former

William B. Shepro. Mr. Shepro has served as President and Chief Operating Officer of Ocwen Solutions, the knowledge process outsourcing division of Ocwen Financial Corporation, since May 2008. In this role, Mr. Shepro oversees Ocwen’s Financial Services, Mortgage Services and Technology Products segments. In addition, Mr. Shepro has served as President of Global Servicing Solutions, LLC, a joint venture between Ocwen Financial Corporation and Merrill Lynch, since 2003. Prior to becoming President and Chief Operating Officer of Ocwen Solutions, Mr. Shepro held the positions of Senior Vice President of Ocwen Solutions, Senior Vice President of Ocwen Recovery Group, Senior Vice President, Director and Senior Manager of Commercial Servicing and Counsel in Ocwen’s Law Department, since joining Ocwen in August 1997. He holds a Bachelor of Science in Business from Skidmore College and a Juris Doctorate from the Florida State University College of Law.

Organization Position Status
Ocwen Financial Corporation President and Chief Operating Officer Current
Ocwen Financial Corporation Executive Vice President Former

Organization Position Status
Ocwen Financial Corporation Chief Accounting Officer & Vice President Current

Daniel J. Seguine. Mr. Seguine joined Ocwen as the Vice President and Chief Accounting Officer in February 2009. Prior to joining Ocwen, Mr. Seguine worked at Goldman, Sachs & Co. as a Vice President since 2004 with responsibilities including external financial reporting, accounting policy and investment banking advisory services. He holds a Bachelor of Science in Accounting and a Masters of Accountancy from Brigham Young University.

Organization Position Status
Ocwen Financial Corporation Vice President and Chief Accounting Officer Current

Organization Position Status
Ocwen Financial Corporation Executive Vice President and Chief Financial Officer Current

Paul A. Koches. Mr. Koches has served as Executive Vice President and General Counsel since May 2008. He previously served as Senior Vice President and General Counsel of Ocwen from August 2002. Prior to joining Ocwen, Mr. Koches was a Partner with Arent Fox, LLP in Washington, D.C. Mr. Koches holds a Bachelor of Arts from the University of Connecticut and a Juris Doctorate from the University of Miami Law School.

Organization Position Status
Ocwen Financial Corporation Executive Vice President and General Counsel Current

Organization Position Status
Ocwen Financial Corporation Senior Vice President Current
Aircastle Limited Cfo Former
Ocwen Financial Corporation Chief Financial Officer and Chief Investment Officer Former
Nomura Securities International, Inc. Managing Director Former
Columbia University Master Former
University of Pennsylvania Ba Former

Organization Position Status
Ocwen Financial Corporation Current
Lgwcd.Org Board of Directors Current
University of Virginia MBA Degree Former
Georgetown University Undergraduate Degree In Economics Former

Organization Position Status
Green Street Advisors Inc. Chief Operating Officer Current
Ocwen Financial Corporation Current
Green Street Advisors Inc. Research Analyst Former
Brown University Ba In Economics, Management Former

Array

Organization Position Status
Ocwen Financial Corporation Chairman Current
Petmed Express, Inc. Board of Directors Current
New York University School of Law Juris Doctorate Former

Organization Position Status
Ocwen Financial Corporation Board of Directors Current
Broadsword Partners, LLC Board of Directors Current
Kidder, Peabody & Co. Vice President Former
Kidder, Peabody & Co. Partner Former
Oxford Financial Group, Inc. Managing General Partner Former
Ocwen Financial Corporation Chairman of The Board Former
Bowdoin College Bachelor of Science In Political Science Former

Organization Position Status
Legg Mason Real Estate Services, Inc. Current
Ocwen Financial Corporation Board of Directors Current
Legg Mason Real Estate Investors, Inc. Managing Director Former
Transwestern Former
George Mason University J.D. Former
University of South Carolina B.A. Former

Organization Position Status
Ocwen Financial Corporation Secretary Current

Martha Clark Goss began her tenure as a member of American Water's Board of Directors on October 22, 2003. Ms. Goss currently serves as the chief operating officer and chief financial officer of Amwell Holdings/Hopewell Holdings LLC, a holding company making investments in the health insurance space. She previously served as chief financial officer for The Capital Markets Company, a provider of e-based solutions to the global financial services and capital markets industry, and chief financial officer of Booz Allen & Hamilton Inc., a management consulting firm. Ms. Goss also held various senior executive positions with Prudential Insurance Company of America and Chase Manhattan Bank, N.A In addition to American Water, Ms. Goss serves on the Board of Ocwen Financial Corporation. She also serves on several private company boards, including Channel Reinsurance Ltd., where she also serves as Chair, the board of the Neuberger Berman Mutual Fund Complex, and Allianz Life of New York. She previously served on the Boards of Claire's Stores, Inc., Foster Wheeler Ltd., Dexter Corporation, the Metropolitan Regional Board of The Chase Manhattan Bank, IBJ Whitehall Business Credit Corporation and the boards of various subsidiaries of The Prudential Insurance Company of America. She is a frequent speaker on corporate governance, enterprise risk management and audit committee topics for the Conference Board and other organizations. Ms. Goss is a Trustee Emerita of Brown University and Past President and a Board member of the Financial Women's Association of New York. In addition, she was selected as co-honoree with Lady Margaret Thatcher for Brown University's Independent Man Award, was invited to participate as one of the 326 delegates to President Clinton's Economic Summit in 1992, is a member of the Committee of 200 and TIGER 21 and a recipient of the Distinguished Alumni Award of Brown University. Ms. Goss has a bachelor's degree from Brown University and received her MBA from Harvard Graduate School of Business.

Organization Position Status
American Water Board of Directors Current
Parsons Brinckerhoff Inc. Board of Directors Current
Allianz Life Insurance Company Board of Directors Current
Ocwen Financial Corporation Board of Directors Current
Bank Leumi USA Board of Directors Former
Harvard University Masters of Business Administration Former
Brown University Bachelor of Arts Former

Array

Organization Position Status
Ocwen Financial Corporation President Current
Ocwen Financial Corporation Chief Accounting Officer Former
Ocwen Financial Corporation Executive Vice President Former
Ocwen Financial Corporation Controller Former
The Pennsylvania State University Bachelor of Science In Accounting Former

Organization Position Status
Ocwen Financial Corporation Board of Directors Current

Organization Position Status
Ocwen Financial Corporation Director Current
ACA Corp. Board of Directors Current
American Capital Access Holdings Limited member Current
ACA Corp. Member Current
MGIC Investment Corporation Chief Executive Officer Former
MGIC Former
Lender's Service, Inc. Former
Mortgage Guaranty Insurance Corporation Chairman Former
MGIC Investment Corporation Chairman Former
Fannie Mae Advisory Board Former
University of Wisconsin-Milwaukee Bachelor's degree in Business Former
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     OCN $9.48 -0.04 (-0.42% )
Average Volume 767,311
Shares Outstanding 99.84M
Market Cap 946.4M
Year High 14.56
Year Low 7.31
Earnings Per Share 0.67
P/E Ratio 14.15
Dividend N/A
Yield N/A
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