Ocwen Economic Announces Modification to Elderly Secure Term Financing

Independence is amongst the nation’s prominent reverse mortgage brokers devoted so you can education and you can delivering finance that help users satisfy the personal and you can economic requires

West Palm Beach, Fla., (Community NEWSWIRE) — Ocwen Financial Company (NYSE: OCN) (“Ocwen” or the “Company”), a number one low-bank financial servicer and you can originator, announced today so it possess registered towards the a modification so you’re able to the Older Secured Name Loan (“SSTL”) one stretches brand new readiness day in order to . Within the transaction, the fresh an excellent harmony of your SSTL is actually shorter from $326 billion so you can $2 hundred million.

Glen A. Messina, President and Chief executive officer out-of Ocwen told you, “I’m happy i closed with the amendment and you may extension out of all of our SSTL and would like to show my appreciation to our lenders due to their service. So it deal represents the conclusion of one’s 2019 investment framework plan and helps all of our balanced method to lowering our price of funding, keeping sufficient exchangeability and you may retaining monetary liberty. The fresh business avoidance is facilitated of the proceeds from our prior MSR funding or other structured investment methods. As a result, we have showcased less expensive prepared loans obligations while keeping power in the prudent account.”

Mr. Messina extra, “This new expansion of your SSTL affords all of us additional time to execute up against the agreements directed at boosting monetary overall performance and you will long-identity competition, which could provide the opportunity to next extend our very own business debt at the next day supported by improved providers performance, while we are able to achieve the providers and you will monetary expectations so there are no unanticipated bad occurrences.”

Ocwen Economic Firm (NYSE: OCN) are a number one non-lender home loan servicer and you may inventor delivering solutions making use of their first brands, PHH Financial Company (PHH Financial) and you may Versatility House Guarantee Options, Inc

(Liberty). PHH Mortgage is just one of the biggest servicers in the united states, worried about taking a variety of upkeep and you can lending applications. We have been based inside the West Palm Coastline, Fl, that have practices in the united states additionally the You.S. Virgin Islands and operations in the Asia and also the Philippines, and just have become providing our very own customers due to the fact 1988. To learn more, please go to our very own web site (ocwen).

So it press release consists of send-appearing statements from inside the concept of Point 27A of your own Bonds Work regarding 1933, while the amended, and you can Point 21E of one’s Bonds Exchange Operate out of 1934, as revised. These types of give-searching comments is recognized by a mention of the the next months or by using send-appearing terms and conditions. Forward-looking statements are typically acquiesced by terms for example “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and “project” or conditional verbs such as for example “will”, “may”, “should”, “could” otherwise “would” or even the negative ones terms, however the give-appearing statements include these types of terms. Forward-lookin statements by the the characteristics target issues that are, to different degree, uncertain. Our very own company might have been in the process of generous changes that has magnified such as uncertainties. Clients should incur this type of factors planned in relation to such as for instance comments and cannot set unnecessary reliance on such comments.

Forward-lookin comments encompass an abundance of presumptions, dangers and you will uncertainties that may result in genuine brings about disagree materially. Before, actual results has actually differed off those suggested by the forward looking statements and this will happen again. Techniques that could produce actual leads to disagree materially out-of those people ideal because of the forward-lookin statements were, but are not limited so you can, the second: uncertainty pertaining to all of our power to comprehend the proper expectations, synergies or other advantages of the acquisition of PHH Organization (PHH) during the time anticipated otherwise whatsoever, also the power to incorporate, look after and you can boost PHH’s upkeep, subservicing or other providers matchmaking, plus the connection with The latest Domestic Financing Corp. Some one looking to discover Ocwen’s company is comment the SEC filings. Ocwen’s give-searching statements speak only at the time of the new time he’s made and you will, we disclaim any duty to help you improve otherwise posting give-lookin comments https://paydayloanalabama.com/harvest/ if right down to the latest pointers, future occurrences or otherwise.