Ocwen Originations Off, Servicing Subsides
Q2 mortgage production down 21%
Aug. 2, 2013
By Mortgage Daily staff
Residential loans originations were down at Ocwen Financial Corp., and the mortgage servicing portfolio was lower as the company moved some of its servicing to related entities. Earnings, however, surged.
Homeward Residential originated approximately 21 percent less in the three months ended June 30 than during the previous three-month period, quarterly earnings released Fridayindicated.
Partnerships were responsible for around $0.6 billion of first-quarter production at the Atlanta-based company, better than the $0.4 billion in the previous period.
