Net income of $67M or $0.48 per share vs $76.7M or $0.53 a year ago, with Chairman Bill Erbey noting "significant compliance and regulatory-related issues." Income from operations of $207.6M up 22% from a year ago.
2.6M shares repurchased during quarter.
New business: The company intends to begin purchasing MBS where Ocwen (NYSE:OCN) is the servicer.
Conference call is at 11 ET
OCN flat premarket