Ocwen slides as S&P sets up for possible downgrade

• Earlier this week Moody's upgraded Ocwen Financial's (NYSE:OCN -2.8%) corporate credit rating, but yesterday S&P put the company's servicer ratings on CreditWatch negative.
• CEO Ron Faris: "We were surprised by the S&P announcement and specifically their reasons because we believe that we have made significant progress in resolving past regulatory concerns, strengthened our financial condition, and, over the past couple of years, continually invested in the quality and capacity of our risk, compliance, and internal audit functions."
• Faris notes the company is unaware of any unresolved issues with state agencies that would have a material financial impact, nor of any material fines, penalties, or settlements, nor any pending or threatened actions to revoke any state licenses.
• Source: Press Release
• Previously: Ocwen Financial gets upgrade from Moody's (June 3)