Risk Factors Update Summary
- Changes in tax laws and interpretation could impact our financial position. Ocwen had U.S. federal net operating loss carryforwards of approximately $504 million in 2023.
- Failure to comply with data privacy and security obligations may lead to regulatory investigations. Lawsuits and reputational harm could result from breaches or system failures.
- Cybersecurity risks, including ransomware attacks, could lead to interruptions in operations and reputational harm. Increased remote work poses additional threats to information technology systems.
- Changes in stock price volatility: Stock prices fluctuated between $21 and $37 per share in 2023.
- Impact of political protests on operations: Operations in India were briefly impacted by transportation strikes in 2023.
- Management turnover: Elevated management turnover was experienced in 2022 due to planned departures, including several executive officers.
- Loan repurchase demands: Outstanding representation and warranty repurchase demands related to 71 loans of $20.7 million total UPB in 2023.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=873860&owner=exclude
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