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Compass Point is Sidelined on Ocwen Financial (OCN) as Risk of Default Remains High
March 3, 2016 8:27 AM ESTCompass Point reiterated a Neutral rating on Ocwen Financial Corp (NYSE: OCN), and cut the price target to $4.00 (from $8.00), following the company's 4Q results. Permanent changes in OCN's servicing cost structure have impaired much of the hypothetical upside. The risk of default or other permanent capital impairment due to financial, regulatory and other factors remains... More
