Ocwen Financial Reports Loss For Q3 - Quick Facts

(RTTNews) - Ocwen Financial Corp. (OCN) Thursday reported a loss for the third quarter, compared with profit last year, hurt by lower revenues and recording of $120 million in reserves attributable mainly to a potential settlement with the New York Department of Financial Services.

Net loss totaled $76.19 million or $0.58 per share, compared with a profit of $54.72 million or $0.39 per share a year earlier.

On average, nine analysts polled by Thomson-Reuters expected the company to report earnings of $0.59. Analysts' estimates typically exclude one-time items.

Total revenues declined to $513.69 million, from $531.24 million last year, below the $542.76 million Wall Street expected.