Ocwen Monetary Announces Amendment to help you Senior Safeguarded Name Loan

Freedom is among the state’s premier opposite lenders faithful to help you degree and you can providing financing which help consumers meet the individual and you may financial means

Western Palm Beach, Fla., (Industry NEWSWIRE) — Ocwen Monetary Agency (NYSE: OCN) (“Ocwen” or the “Company”), a leading low-bank home loan servicer and you can creator, launched today it has registered to your a modification to their Elderly Secured Title Loan (“SSTL”) you to expands the newest maturity big date to help you . As part of the deal, the new the harmony of your SSTL is smaller of $326 million in order to $200 billion.

Glen An effective. Messina, President and Ceo out-of Ocwen said, “I am pleased we closed to your amendment and you will expansion off our very own SSTL and would like to express my personal gratitude to our loan providers due to their help. It exchange signifies the culmination of our 2019 funding structure plan and you may supports our well-balanced method of reducing the price of financing, keeping sufficient exchangeability and preserving monetary self-reliance. The latest business protection try facilitated of the proceeds from our very own previous MSR investment or other organized resource measures. As such, we have highlighted cheaper prepared fund financial obligation while keeping control at wise levels.”

Mr. Messina added, “New extension of your SSTL provides you more time to do up against our very own plans directed at boosting monetary abilities and you will long-title competitiveness, that will supply the chance to next extend all of our corporate loans at another time supported by improved providers efficiency, of course we could get to the team and you can monetary expectations so there are no unexpected unfavorable situations.”

Ocwen Financial Company (NYSE: OCN) is a number one low-lender home loan servicer and you can originator delivering options employing first names, PHH Home loan Firm (PHH Home loan) and Independence Domestic Security Selection, Inc

(Liberty). PHH Mortgage is amongst the largest servicers in the country, focused on getting a number of upkeep and you may credit software. Our company is based inside the Western Hand Beach, Florida, which have offices in the us and also the You.S. Virgin Isles and processes when you look at the Asia in addition to Philippines, and now have become providing our very own consumers because the 1988. To learn more, kindly visit our very own website (ocwen).

This press release consists of submit-lookin statements in concept of Part 27A of your Ties Operate out-of 1933, once the amended, and you will Point 21E of Securities Exchange Operate regarding 1934, given that revised. These submit-lookin statements may be acknowledged by a mention of the the next several months otherwise by way of submit-searching terminology. Forward-searching comments are typically acknowledged by words including “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and you can “project” or conditional verbs particularly “will”, “may”, “should”, “could” or “would” or even the negative of them conditions, yet not all pass-looking statements consist of this type of conditions. Forward-looking comments because of the its nature address issues that are, to various levels, undecided. The organization might have been in the process of reasonable alter that has magnified like concerns. Readers is happen these factors in your mind about such as comments and should not lay excessive reliance on such as for instance statements.

Forward-appearing statements cover lots of presumptions, dangers and you can concerns that could lead to genuine results to disagree materially. Before, genuine results keeps differed of those people advised by the forward looking comments and therefore can happen once again. Tips which will produce real results to differ materially regarding men and women ideal from the send-searching comments include, but they are not limited so you can, the following: uncertainty associated with our very own capacity to see brand new strategic objectives, synergies or any other benefits associated with the purchase of PHH Company (PHH) at that time expected otherwise after all, together with our very own capability to integrate, take care of and you will boost PHH’s repair, subservicing or other organization relationships, as well as its connection with The Residential Capital Corp. Somebody aspiring to discover Ocwen’s organization is feedback the SEC filings. Ocwen’s submit-looking comments talk just as of the latest date they are made and you can, we disclaim people duty to posting otherwise upgrade give-searching comments if or not as a result of this new suggestions, future situations otherwise.