Ocwen Financial Provides Update on Acquisition of PHH Corporation
28 9월 2018 - 7:05PM
Ocwen Financial Corporation (NYSE:OCN) (“Ocwen” or the
“Company”), a leading financial services holding company,
provides the following update on its pending acquisition of PHH
Corporation (NYSE: PHH) (“PHH”).
As previously disclosed, Ocwen and PHH have been
working diligently to close the pending transaction. The parties
have now received all regulatory, governmental entity and
contractual approvals and consents in order to be in a position to
close. The approval from the New York Department of Financial
Services is subject to certain conditions, as further described in
Ocwen’s Form 8-K filed today, available at
http://shareholders.ocwen.com/financial-information/sec-filings.
The parties intend to close the transaction within the next 10
days.
As previously announced, under the terms of the
merger agreement, Ocwen will acquire all outstanding shares of
common stock of PHH for approximately $360 million in cash or $11
per diluted common share.
About Ocwen Financial
Corporation
Ocwen Financial Corporation is a financial
services holding company which, through its subsidiaries, services
and originates loans. We are headquartered in West Palm Beach,
Florida, with offices throughout the United States and in the U.S.
Virgin Islands and operations in India and the Philippines. We have
been serving our customers since 1988. We may post information that
is important to investors on our website (www.Ocwen.com).
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements may be
identified by a reference to a future period or by the use of
forward-looking terminology. Forward-looking statements are
typically identified by words such as “believe”, “expect”,
“foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”,
“strategy”, “plan” “target” and “project” or conditional verbs such
as “will”, “may”, “should”, “could” or “would” or the negative of
these terms, although not all forward-looking statements contain
these words.
Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. Our
business has been undergoing substantial change which has magnified
such uncertainties. Readers should bear these factors in mind when
considering such statements and should not place undue reliance on
such statements.
Forward-looking statements involve a number of
assumptions, risks and uncertainties that could cause actual
results to differ materially. In the past, actual results have
differed from those suggested by forward looking statements and
this may happen again.
Important factors that could cause actual
results to differ materially from those suggested by the
forward-looking statements include, but are not limited to, the
following: our ability to close the proposed acquisition of PHH in
the next ten days or at all, our ability to successfully integrate
PHH’s business, and to realize the strategic objectives, synergies
and other benefits of the acquisition at the time anticipated or at
all, including our ability to integrate, maintain and enhance PHH’s
servicing, subservicing and other business relationships, including
its relationship with New Residential Investment Corp. (NRZ);
uncertainty related to claims, litigation, cease and desist orders
and investigations brought by government agencies and private
parties regarding our servicing, foreclosure, modification,
origination and other practices, including uncertainty related to
past, present or future investigations, litigation, cease and
desist orders and settlements with state regulators, the Consumer
Financial Protection Bureau (CFPB), State Attorneys General, the
Securities and Exchange Commission (SEC), the Department of Justice
or the Department of Housing and Urban Development (HUD) and
actions brought under the False Claims Act by private parties on
behalf of the United States of America regarding incentive and
other payments made by governmental entities; adverse effects on
our business as a result of regulatory investigations, litigation,
cease and desist orders or settlements; reactions to the
announcement of such investigations, litigation, cease and desist
orders or settlements by key counterparties or others, including
lenders, the Federal National Mortgage Association (Fannie Mae),
the Federal Home Loan Mortgage Corporation (Freddie Mac) and the
Government National Mortgage Association (Ginnie Mae); our ability
to comply with the terms of our settlements with regulatory
agencies and the costs of doing so, increased regulatory scrutiny
and media attention; any adverse developments in existing legal
proceedings or the initiation of new legal proceedings; our ability
to effectively manage our regulatory and contractual compliance
obligations; our ability to comply with our servicing agreements,
including our ability to comply with our agreements with, and the
requirements of, Fannie Mae, Freddie Mac and Ginnie Mae and
maintain our seller/servicer and other statuses with them; our
ability to contain and reduce our operating costs, the adequacy of
our financial resources, including our sources of liquidity and
ability to sell, fund and recover advances, repay borrowings and
comply with our debt agreements, including the financial and other
covenants contained in them; our ability to timely transfer
mortgage servicing rights under our July 2017 agreements and
January 2018 agreements with NRZ; our ability to maintain our
long-term relationship with NRZ; our ability to realize anticipated
future gains from future draws on existing loans in our reverse
mortgage portfolio; our servicer and credit ratings as well as
other actions from various rating agencies, including the impact of
prior or future downgrades of our servicer and credit ratings; our
ability to execute an effective chief executive officer leadership
transition; as well as other risks detailed in Ocwen’s reports and
filings with the SEC, including its annual report on Form 10-K for
the year ended December 31, 2017 and our current and quarterly
reports since such date. Anyone wishing to understand Ocwen’s
business should review its SEC filings. Ocwen’s forward-looking
statements speak only as of the date they are made and, we disclaim
any obligation to update or revise forward-looking statements
whether as a result of new information, future events or
otherwise.
FOR FURTHER INFORMATION CONTACT:
Investors: |
Media: |
Stephen Swett |
John Lovallo |
T: (203) 614-0141 |
T: (917) 612-8419 |
E:
shareholderrelations@ocwen.com |
E:
jlovallo@levick.com |
Phh (NYSE:PHH)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Phh (NYSE:PHH)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024