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Ocwen reports Q2 net loss of $44.5M

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Ocwen reports Q2 net loss of $44.5M

Ocwen Financial Corp. reported a second-quarter net loss attributable to common stockholders of $44.5 million, or 36 cents per share, compared to a loss of $87.4 million, or 71 cents per share, in the year-ago quarter.

Pretax loss for the second quarter was $41.6 million, compared to $96.4 million in the year-ago quarter.

The servicing segment recorded pretax income of $9.2 million in the most recent quarter, compared to a loss of $12.2 million a year ago. The lending segment posted a pretax loss of $614,000, compared to income of $5.0 million in the year-ago period.

Total revenues for the second quarter declined year over year to $311.3 million from $373.1 million.