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Dec 31, 2019
Onity Q4 2019 Earnings Report
Reported a net income of $34.9 million, compared to a net loss of $(2.3) million for the three months ended December 31, 2018.
Key Takeaways
Ocwen Financial Corporation reported a net income of $34.9 million for the fourth quarter of 2019, a $37.2 million improvement compared to the same period in 2018. The company made progress on improving profitability and building a sustainable business model.
Net income was $34.9 million, or $0.26 per share, for the three months ended December 31, 2019.
Pre-tax income for the fourth quarter of 2019 was $37.2 million.
The Servicing segment recorded $58.9 million of pre-tax income for the fourth quarter of 2019.
The Lending segment recorded $3.6 million of pre-tax income for the fourth quarter of 2019.
Forward Guidance
Ocwen expects to generate enough origination volume to grow their owned servicing portfolio in 2020 and continue to build a diversified mortgage originator and servicer.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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