Current Report Filing (8-k)
04 Mai 2022 - 10:26PM
Edgar (US Regulatory)
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0000873860
2022-05-02
2022-05-02
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): May 2, 2022
OCWEN
FINANCIAL CORPORATION
(Exact
name of registrant as specified in its charter)
Florida |
|
1-13219 |
|
65-0039856 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
1661
Worthington Road, Suite 100
West
Palm Beach, Florida 33409
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (561) 682-8000
Not
applicable.
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.01 Par Value |
|
OCN |
|
New
York Stock Exchange (NYSE) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Definitive Material Agreement.
On
May 2, 2022, PHH Mortgage Corporation (“PHH”), a wholly-owned subsidiary of Ocwen Financial Corporation (“Ocwen”
or the “Company”), entered into amendments to the following three agreements with certain subsidiaries of New Residential
Investment Corp. (“NRZ”), the terms of which have been previously disclosed in Ocwen’s filings with the Securities
and Exchange Commission: (a) Subservicing Agreement dated as of August 17, 2018 by and between PHH and NewRez LLC (formerly known as
New Penn Financial, LLC) d/b/a Shellpoint Mortgage Servicing; (b) Subservicing Agreement dated as of July 23, 2017 by and between PHH
and New Residential Mortgage LLC; and (c) New RMSR Agreement dated as of January 18, 2018 by and among PHH and New Residential Mortgage
LLC, HLSS Holdings, LLC and HLSS MSR – EBO Acquisition LLC (collectively, the “Agreements”).
The
amendments modified the terms of the Agreements as follows: (i) the term of each Agreement is extended to December 31, 2023; (ii) subsequent
term extensions will be automatic one-year renewals, unless PHH provides six months’ advance notice of termination, or the NRZ
parties provide three months’ advance notice of termination at the end of the then-current term; and (iii) the parties will share
a portion of some ancillary revenues. In addition, the amendments provided for certain immaterial modifications and clarifications of
existing terms.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
Number |
|
Description |
|
|
|
104 |
|
Cover
Page Interactive Data File formatted in online XBRL (included as Exhibit 101) |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
|
OCWEN
FINANCIAL CORPORATION |
|
(Registrant) |
|
|
|
Date:
May 4, 2022 |
By: |
/s/
June C. Campbell |
|
|
June
C. Campbell |
|
|
Chief
Financial Officer |
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