Ocwen Financial Corporation OCN Income Statement

Ocwen financial corporation (OCN)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Revenue
Servicing And Subservicing Fees
211,500	231,988	247,714	239,182	256,616	278,988	213,730	222,227	222,138	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fee and Commissions, Reverse Mortgage Banking
22,797	-	-	-	32,123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Servicing and subservicing fees
-	-	-	-	-	-	-	-	-	-	233,220	255,801	272,502	-	302,235	307,262	297,496	328,256	360,017	396,983	446,541	446,079	465,964	491,673	490,459	488,351	483,267	482,632	369,309	225,958	223,011	200,335	155,103	147,885	112,611	95,837	102,505	102,859	86,424	65,936	66,480
Gain (loss) on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,010	-3,013	-1,710	765
Gain (Loss) on Sales of Loans, Net
13,331	-1,770	16,013	15,075	8,982	-23,799	16,942	24,393	19,800	-19,793	25,777	28,255	22,944	21,317	25,645	27,857	15,572	18,035	27,298	45,132	44,504	24,256	27,218	38,836	43,987	-	-	-	-	-	-	-	0	-	-1,011	-1,616	-904	-3,239	-539	-1,049	-1,038
Revenue from Contract with Customer, Including Assessed Tax
6,231	-22,777	19,788	20,081	6,167	-4,497	7,606	6,961	18,319	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on loans held for sale, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28,262	36,478	6,749	-	-	-	-	-	-	-	-	-	-	-	-
Process management fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,215	9,140	7,796	9,572	7,911	8,315	7,906
Other
-	-	-	-	-	-	-	-	-	-	25,645	27,244	26,418	-	31,568	37,935	17,689	16,166	17,631	21,136	19,399	22,957	20,516	22,565	16,815	17,006	19,711	25,702	30,601	10,403	9,689	11,046	9,443	34,854	636	860	705	842	1,234	1,702	1,200
Total revenue
253,842	261,634	283,515	274,338	303,888	310,929	238,278	253,581	260,257	276,770	284,642	311,300	321,864	323,904	359,448	373,054	330,757	362,457	404,946	463,251	510,444	493,292	513,698	553,074	551,261	555,562	531,240	544,812	406,659	236,576	232,700	211,381	164,546	156,586	122,462	105,837	111,006	113,273	95,569	75,953	75,586
MSR valuation adjustments, net
174,120	-829	-134,561	147,268	108,998	61,762	41,448	33,118	17,129	-62,483	33,426	41,568	40,451	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expenses
Compensation and benefits
60,728	63,115	73,414	82,283	94,696	86,816	63,307	69,838	78,075	86,244	90,538	90,411	91,801	93,727	92,942	98,422	96,249	101,456	102,612	105,843	105,144	99,412	99,879	110,602	105,637	112,098	118,054	117,999	94,626	31,795	29,759	30,004	30,783	40,737	29,067	15,253	14,787	17,892	43,886	13,089	12,777
Servicing and origination
20,256	22,180	36,619	21,510	28,698	39,845	31,758	28,276	31,418	13,434	52,246	35,645	40,171	-60,480	63,551	89,987	95,692	88,655	101,545	52,558	101,802	73,266	49,739	35,787	43,947	22,090	34,236	31,888	23,913	6,540	9,838	5,877	3,287	3,025	1,969	1,301	1,922	2,095	1,707	2,458	591
Professional services
25,637	25,433	36,628	37,136	3,441	54,733	40,662	32,389	37,770	83,800	38,417	65,405	41,829	47,791	65,489	121,399	70,907	84,665	62,428	72,369	56,931	113,922	160,704	30,643	21,398	24,079	19,090	66,652	14,065	9,470	5,241	5,943	8,559	9,232	5,075	3,270	2,384	5,316	25,132	9,134	3,255
Technology and communications
15,193	18,086	16,644	20,001	24,435	30,935	20,597	23,906	22,803	20,960	27,929	24,254	27,347	24,814	25,941	32,709	26,869	36,965	37,182	41,260	39,351	45,819	44,261	39,997	36,976	37,768	38,809	33,877	30,012	13,363	11,608	11,042	9,349	11,843	8,529	6,373	6,872	7,062	6,727	6,191	5,664
Occupancy and equipment
11,969	15,596	17,262	18,699	16,589	22,262	11,896	12,859	12,614	16,450	15,340	16,480	17,749	17,978	16,760	20,708	24,745	27,334	31,043	28,773	25,714	26,675	24,697	25,756	32,051	30,514	30,786	25,596	18,249	10,560	10,899	10,280	15,305	8,756	6,720	4,153	4,130	19,407	5,201	3,870	4,446
Amortization of mortgage servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,558	8,347	12,806	11,006	18,108	31,586	38,494	64,300	60,783	63,198	62,094	85,346	79,183	70,369	47,883	19,336	20,150	19,097	14,314	12,937	11,210	9,926	8,923	9,352	7,874	7,854	6,375
Other expenses
3,431	-5,089	-1,282	4,597	3,248	6,466	7,858	5,264	6,692	9,898	15,583	6,717	17,035	8,637	9,553	13,446	1,389	9,767	34,808	19,863	10,922	-	14,976	39,480	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
137,214	126,614	44,724	331,494	171,107	149,362	217,526	205,650	206,501	115,341	273,479	280,480	276,383	237,901	271,678	385,018	328,657	359,848	387,726	352,252	378,358	-	455,039	345,463	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	184,980	170,016	163,133	137,493	139,907	125,477	78,419	66,142	56,812	63,583	69,807	50,008	2,195	31,295	40,409
Other Income and Expenses [Abstract]
Other income (expense)
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,091	-	26,102	28,415	14,778	8,019	5,298	3,661	4,530	3,914	3,080	1,978	2,181	2,141	2,847	2,062	2,069
Total expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	349,194	-	346,260	374,796	243,526	99,083	92,793	85,904	86,127	90,444	65,650	42,254	41,199	63,265	93,374	44,658	35,177
Interest income
5,395	4,580	4,129	3,837	4,558	4,008	3,963	3,355	2,700	3,864	4,099	4,239	3,763	4,595	5,158	5,140	4,190	2,014	5,693	5,038	5,575	5,518	6,593	5,553	5,327	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,895	2,084	2,038	2,312	2,232	2,186	2,289	2,169	2,352	2,962	1,900	3,645
Interest expense
29,982	-229,853	285,922	31,571	26,489	-86,230	61,288	77,503	50,810	-85,544	47,281	81,128	84,062	104,500	110,961	91,033	106,089	119,767	118,313	124,897	119,396	132,628	133,049	136,207	139,873	76,022	116,885	113,220	89,459	59,795	58,417	58,319	46,924	45,756	27,658	21,813	37,543	35,906	24,187	13,359	12,471
Pledged MSR liability expense
6,594	-	-	-	43,956	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on repurchase of senior secured notes
-	-	5,099	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bargain purchase gain
-	-	0	-96	-	64,036	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of MSRs, net
-	-	-	-	-	-	-	-	-	2,674	6,543	1,033	287	803	5,661	853	1,175	-14,037	41,246	30,306	26,406	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	356	2,253	3,875	1,282	3,192	-17,030	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on debt redemption
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	653	-	-	-	-	-	-	-	-	-	-
Equity in earnings (losses) of unconsolidated entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-140	-680	130	27	266	343	735
Other, net
1,328	7,633	-414	653	1,020	198	-3,700	-2,188	-681	-9,552	-1,077	3,428	4,033	2,897	14,736	606	-3,501	-91	-1,764	-8,946	-1,842	-443	-4,469	-136	1,929	-15,474	68	14,170	-1,352	-1,600	-2,175	968	-3,688	-11,971	-1,238	-727	830	5,927	1,604	-4,158	-600
Total other expense, net
-29,853	-85,899	-277,108	-27,177	-64,867	-15,873	-61,025	-76,336	-48,791	-153,781	-37,716	-72,428	-75,979	-96,205	-85,406	-84,434	-104,225	-131,881	-73,138	-98,499	-89,257	-127,553	-130,925	-130,434	-130,364	-65,266	-115,535	-95,858	-107,841	-61,014	-59,161	-55,313	-48,300	-47,623	-27,861	-22,547	-35,318	-34,849	-22,907	-18,033	-8,964
Loss before income taxes
-87,345	-	-	-	-41,084	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from continuing operations before income taxes
-	-	-38,317	-84,333	-	-7,763	-40,273	-28,405	4,965	-45,314	-26,553	-41,608	-30,498	-10,202	2,364	-96,398	-102,125	-129,272	-55,918	12,500	42,829	-519,773	-72,266	77,177	71,703	153,584	69,445	74,158	55,292	76,479	80,746	70,164	30,119	18,519	28,951	41,036	34,489	7,672	-13,225	13,262	31,445
Income from continuing operations before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-20,712	-	-
Income tax (benefit) expense
-61,856	2,370	4,450	5,404	3,410	-4,012	845	1,348	2,348	-51	-20,418	2,828	2,125	228	-7,110	-9,180	9,076	94,985	10,832	2,594	8,440	2,022	2,992	10,165	11,217	18,309	8,873	8,496	6,383	11,138	29,346	25,331	10,770	8,864	8,730	14,653	12,425	5,235	-7,487	-2,777	10,574
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,383	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-	-	-42,767	-89,737	-	-2,342	-41,118	-29,753	2,617	-45,263	-6,135	-44,436	-32,623	-10,430	9,474	-87,218	-111,201	-224,257	-66,750	9,906	34,389	-521,795	-75,258	67,012	60,486	135,275	60,572	65,662	48,909	65,341	51,400	44,833	19,349	9,655	20,221	26,383	22,064	9,924	-8,842	16,039	20,871
Net (income) loss attributable to non-controlling interests
-	-	0	0	-	0	29	78	69	-780	117	71	101	14	83	160	130	-16	119	168	34	80	123	57	-15	0	0	0	0	-	-	-	-	4	-7	5	-10	3	-7	1	11
Net Income (Loss) Attributable to Parent
-25,489	34,873	-42,767	-89,737	-44,494	-2,342	-41,147	-29,831	2,548	-44,483	-6,252	-44,507	-32,724	-10,444	9,391	-87,378	-111,331	-224,241	-66,869	9,738	34,355	-521,875	-75,381	66,955	60,501	135,275	60,572	65,662	48,909	-	-	44,833	-	9,651	20,228	26,378	22,074	9,921	-8,835	16,038	20,860
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	582	581	581	1,446	1,519	1,485	-	-	-	-	-	-	-	-	-	-	-	-
Deemed dividends related to beneficial conversion feature of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	808	415	416	416	4,401	1,086	1,086	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to Ocwen common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-521,875	-76,189	65,958	59,504	134,278	54,725	63,057	46,338	-	51,400	-	-	-	-	-	-	-	-	-	-
Loss per share attributable to Ocwen stockholders
Earnings Per Share, Basic and Diluted
-0.19	0.26	-0.32	-0.67	-0.33	-	-0.31	-0.22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to Ocwen common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,349	-	-	-	-	-	-	-	-
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.13	-	-
Income from discontinued operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	-	-
Basic (in USD per share)
-	-	-	-	-	-	-	-	0.02	-	-0.05	-0.36	-0.26	-	0.08	-0.71	-0.90	-1.79	-0.53	0.08	0.27	-3.95	-0.58	0.49	0.44	1.00	0.40	0.46	0.34	0.49	0.38	0.33	0.15	0.07	0.20	0.26	0.22	0.10	-0.09	0.16	0.21
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.13	-	-
Income from discontinued operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	-	-
Diluted (in USD per share)
-	-	-	-	-	-	-	-	0.02	-	-0.05	-0.36	-0.26	-	0.08	-0.71	-0.90	-1.79	-0.53	0.08	0.27	-3.93	-0.58	0.48	0.43	0.96	0.39	0.45	0.33	0.48	0.37	0.32	0.14	0.06	0.19	0.25	0.21	0.10	-0.09	0.15	0.20
Weighted average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic and Diluted
134,858	-	134,595	134,465	133,918	-	133,912	133,856	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (in shares)
-	-	-	-	-	-	-	-	133,121	130,986	128,744	124,582	124,014	123,988	123,986	123,893	124,093	125,296	125,383	125,311	125,272	125,449	130,551	134,221	135,227	135,595	135,787	135,690	135,638	-130,383,729	134,928	134,856	130,649,595	115,305	101,016	100,943	100,762	100,617	100,329	100,168	99,975
Diluted (in shares)
-	-	-	-	-	-	-	-	134,606	130,986	128,744	124,582	124,014	123,841	124,134	123,893	124,093	121,727	125,383	127,152	126,999	116,102	130,551	137,705	141,089	134,864	140,057	144,721	139,559	-137,769,043	138,702	138,155	138,046,270	123,262	108,273	108,110	107,777	114,549	100,329	107,728	107,324