OCWEN FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 27, 2024
ONIT$30.44-5.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations for the years ended and
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share data)
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | |||
| Servicing and subservicing fees | $947.3 | $862.6 | $781.9 |
| Gain on reverse loans held for investment and HMBS-related borrowings, net | 46.7 | 36.1 | 79.7 |
| Gain on loans held for sale, net | 40.6 | 22.0 | 145.8 |
| Other revenue, net | 32.0 | 33.2 | 42.7 |
| Total revenue | 1,066.7 | 953.9 | 1,050.1 |
| MSR valuation adjustments, net | (232.2) | (10.4) | (98.5) |
| Operating expenses | |||
| Compensation and benefits | 229.2 | 289.4 | 297.9 |
| Servicing and origination | 57.3 | 64.9 | 113.6 |
| Technology and communications | 52.5 | 57.9 | 56.0 |
| Professional services | 22.3 | 49.3 | 81.9 |
| Occupancy, equipment and mailing | 31.8 | 41.8 | 36.5 |
| Other expenses | 19.0 | 29.1 | 23.3 |
| Total operating expenses | 412.1 | 532.4 | 609.3 |
| Other income (expense) | |||
| Interest income | 78.0 | 45.6 | 26.4 |
| Interest expense ($43.8, $42.1 and $31.7 due to related parties) | (273.6) | (186.0) | (144.0) |
| Pledged MSR liability expense ($57.5, $59.1 and $16.6 due to related party) | (296.3) | (255.0) | (221.3) |
| Gain (loss) on extinguishment of debt | 1.3 | 0.9 | (15.5) |
| Earnings of equity method investee | 7.3 | 18.5 | 3.6 |
| Other, net | 2.8 | (10.2) | $4.1 |
| Other income (expense), net | (480.5) | (386.2) | $(346.7) |
| Income (loss) before income taxes | (58.1) | 24.9 | $(4.4) |
| Income tax expense (benefit) | 5.6 | (0.8) | $(22.4) |
| Net income (loss) | $(63.7) | $25.7 | $18.1 |
| Earnings (loss) per share | |||
| Basic | $(8.34) | $2.97 | $2.00 |
| Diluted | $(8.34) | $2.85 | 1.93 |
| Weighted average common shares outstanding | |||
| Basic | 7,635,584 | 8,647,399 | 9,021,975 |
| Diluted | 7,635,584 | 8,997,306 | 9,382,467 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.