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Mar 31, 2021
Onity Q1 2021 Earnings Report
Reported positive operating and financial momentum with continued earnings improvement and strong originations activity.
Key Takeaways
Ocwen Financial Corporation reported a net income of $8.5 million and pre-tax income of $11.6 million for Q1 2021, a significant improvement compared to the net loss of $25.5 million and pre-tax loss of $87.3 million in Q1 2020. The company's growth plans are exceeding expectations, leading to an increased target for total servicing additions up to $150 billion.
Delivered strong operating and financial results.
Growth plans are exceeding expectations.
Increased target for total servicing additions to up to $150 billion.
Completed corporate debt refinancing and announced the acquisition of the MSR portfolio and correspondent lending platform from Texas Capital Bank.
Forward Guidance
Ocwen is focused on sustained growth and improved profitability, with growth plans exceeding expectations and an increased target for total servicing additions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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