Ocwen, Altisource on the move after New Residential and Nationstar results

• The New Residential earnings call (transcript) seemed to put to rest the idea the company doesn't want to work with Ocwen FInancial (OCN +3.7%) in the future. NRZ management mentioned Ocwen a number of times in various capacities as a partner. Both Ocwen and Nationstar (NSM +0.4%), says New Residential CEO Michael Nierenberg, are very good at servicing delinquent loans and this would be an area where his company would look to make further acquisitions and work with the two.
• Turning to the Nationstar call, it appears that company isn't going to be in the market bidding for MSRs in the near-term as management implied it's looking to pay down debt and de-lever. Ocwen already has very low leverage and might be able to step in to some smaller deals.
• Nationstar might also be looking to raise capital for its Xome platform and mentioned a valuation of $1B, making a similar business Altisource Portfolio (ASPS +3.4%) is developing look very cheap.
• Previously: Earnings grow at New Residential (Nov. 3)
• Previously: Earnings slip at Nationstar Mortgage (Nov. 3)