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Ocwen Financial Corporation (OCN) CEO Glen Messina on Q1 2020 Results - Earnings Call Transcript

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Ocwen Financial Corporation (NYSE:OCN) Q1 2020 Earnings Conference Call May 8, 2020 8:30 AM ET

Company Participants

Dico Akseraylian - SVP Corporate Communications

Glen Messina - CEO

June Campbell - CFO

Conference Call Participants

Lee Cooperman - Omega Family Office


Greetings. Welcome to the Ocwen Financials' First Quarter 2020 Earnings Call. At this time, all participants will be in listen only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

Please know that this conference is being recorded. At this time, I'll turn the conference over to Dico Akseraylian, Senior Vice President of Corporate Communications. You may now begin.

Dico Akseraylian

Good morning and thank you for joining us for Ocwen's First Quarter 2020 Earnings Call. Please note that our first quarter 2020 earnings release and slide presentation have been provided and are available on our website. Speaking on the call will be Ocwen's Chief Executive Officer Glen Messina and Chief Financial Officer June Campbell.

As a reminder, the presentation and our comments today may contain forward-looking statements made pursuant to the Safe Harbor provisions of the Federal Securities Laws. The forward-looking statements may be identified by reference to a future period or by use of forward looking terminology. Forward-looking statements by their nature address matters that are to different degrees uncertain. Our business has been undergoing substantial change and as a result of the COVID-19 pandemic, we are in the midst of a period of significant capital markets volatility and rapidly evolving mortgage lending and servicing environment, which has magnified such uncertainties. You should bear these factors in mind when considering such statements and should not place undue reliance on such statements.

Forward-looking statements involve several assumptions, risks and uncertainties that could cause actual results to differ materially, including those risks and uncertainties described in our reports

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Comments (4)

Market has massive amount of liquidity and from here on job market will start recovering and so will be the economy. It appears that PPP loans and stimulus checks have kept people from falling off the grid, it is still quite bad but worst is behind us now.
OCN is best positioned to help forebearence of mortgages, this is the perfect market for them, ultimately they will make lot of money, Cooperman was pointing out the disconnect, not that he really was questioning. He has a large stack in the company. Once CFPB and Florida AG matter is resolved, they will good as gold.
I'm very have Cooperman asks the tough questions and doesn't let them just sugar coat everything
Dividend Investor 101 profile picture
Sad to see he was the only one asking questions though! Plus, Glen didn't really answer them. But, Leon sees the big disconnect in stock value and book value. So let's hope someone else does too :-)
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