| Business Summary | | Ocwen
Financial
Corporation
is
a
financial
services
company
whose
primary
businesses
are
the
servicing
and
resolution
of
subperforming
and
non-performing
residential
and
commercial
mortgage
loans,
as
well
as
the
related
development
of
loan
servicing
technology
and
business-to-business
e-commerce
solutions
for
the
mortgage
and
real
estate
industries.
The
Company's
business
segments
consist
of
single-family
residential
discount
loan
acquisition
and
resolution
activities,
including
real
estate
owned;
commercial
loan
activities,
including
commercial
discount
loans
and
real
estate
owned;
servicing
of
domestic
residential
mortgage
loans
for
others;
investments
in
low-income
housing
tax
credit
interests;
technology,
which
is
conducted
through
Ocwen
Technology
Xchange
and
its
subsidiaries;
commercial
real
estate;
United
Kingdom
operations;
domestic
sub-prime
single-family
residential
lending;
unsecured
collections;
Ocwen
Realty
Advisors,
and
corporate
items
and
other. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Ocwen
Financial,
a
savings
and
loan
holding
company,
is
engaged
in
the
acquisition,
servicing
and
resolution
of
subperforming
and
nonperforming
mortgage
loans.
For
the
six
months
ended
6/30/01,
interest
income
fell
49%
to
$50
million.
Net
interest
loss
after
loan
loss
provision
totalled
$20
million
vs.
income
of
$3.7
million.
Net
loss
before
extraordinary
items
totalled
$47.4
million,
up
from
$12.5
million.
Results
reflect
a
decrease
in
loan
portfolio,
and
higher
technology
and
communications
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| William Erbey, 51 Chairman
and CEO | $709K | Ronald Faris, 38 Pres
of the Company and Bank | 530K | John Erbey, 60 Sr.
Managing Director, Gen. Counsel and Sec. | 599K | Mark Zeidman, 49 Sr.
VP, CFO, Chief Investment Officer | 487K | John Barnes, 58 Sr.
VP | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|