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Jun 30, 2021
Onity Q2 2021 Earnings Report
Reported a net loss and progress on key business priorities.
Key Takeaways
Ocwen Financial Corporation reported a net loss of $10.3 million for the second quarter of 2021, compared to a net income of $1.9 million for the second quarter of 2020. Adjusted pre-tax income was $5.8 million for the quarter.
Closed $51 billion in bulk MSRs and strategic transactions with Texas Capital Bank.
Announced agreement with Reverse Mortgage Solutions to purchase its reverse mortgage servicing platform.
Sold the first of planned call rights transactions in July.
Progress on driving growth, cost leadership, revenue diversification and operational excellence is building scale across the platform and growth in higher margin channels, services and products.
Forward Guidance
Ocwen believes actions have markedly improved the earnings potential of the business as we move into the second half of 2021, and we continue to be on track to achieve our growth, profitability and return objectives for the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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