OCWEN FINANCIAL CORP

For the period ended Mar 31, 2024. Filed May 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

ONIT$32.11+3.6%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations for the and

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in millions, except per share data)

	For the Three Months Ended March 31,
	2024	2023
Revenue
Servicing and subservicing fees	$204.5	$232.2
Gain on reverse loans held for investment and HMBS-related borrowings, net	15.4	21.2
Gain on loans held for sale, net	10.9	2.8
Other revenue, net	8.3	5.6
Total revenue	239.1	261.8
MSR valuation adjustments, net	(11.6)	(69.0)
Operating expenses
Compensation and benefits	53.6	58.0
Servicing and origination	15.0	15.7
Technology and communications	12.7	13.4
Professional services	12.0	13.3
Occupancy, equipment and mailing	7.7	8.8
Other expenses	3.4	4.9
Total operating expenses	104.4	114.1
Other income (expense)
Interest income	17.5	14.1
Interest expense ($11.2 and $10.8 on amounts due to related parties)	(67.4)	(62.3)
Pledged MSR liability expense ($15.3 and $14.2 on amounts due to related party)	(44.9)	(70.3)
Earnings of equity method investee	2.7	0.3
Gain on extinguishment of debt	1.4	—
Other, net	(0.6)	1.2
Other income (expense), net	(91.3)	(117.0)
Income (loss) before income taxes	31.8	(38.3)
Income tax expense	1.7	1.9
Net income (loss)	$30.1	$(40.2)
Earnings (loss) per share
Basic	$3.91	$(5.34)
Diluted	$3.74	$(5.34)
Weighted average common shares outstanding
Basic	7,711,534	7,533,561
Diluted	8,046,188	7,533,561

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.