Compass Point takes profits in Ocwen, cuts Nationstar to Sell

• The previously roughed-up non-bank servicers have put in big runs over the past few months, with Ocwen Financial (NYSE:OCN) nearly a four-bagger since a mid-summer low (though still down on a Y/Y basis). Nationstar Mortgage (NYSE:NSM) is up 70% over the last six months.
• Compass Point downgrades Ocwen to Neutral from Buy, and Nationstar to Sell from Neutral.
• No trades for OCN premarket, but NSM is lower by 0.7%.