Home Loan Servicing Solutions Ltd
The Baupost Group lowered its position in Ocwen Financial (OCN) during 4Q14. The position accounted for 1.77% of the total portfolio in 4Q14.
Omega’s Leon Cooperman criticized Altisource’s poor capital allocation plan for its $200-million share buyback when the stock was trading at $104.
Omega Advisors added to its position in Altisource Portfolio Solutions this month. It holds 2,257,451 shares, an 11.14% stake, via an amended 13G filing.
Ocwen Financial is the fourth-largest mortgage servicer in the US and operates in the servicing industry with an emphasis on foreclosure prevention, helping to keep borrowers in their homes. Its primary lines of business are servicing and lending.
Omega’s 13F filing revealed that it increased its stake in Ocwen Financial. The position currently accounts for 1.27%, up from 0.12% of the fund’s first quarter of 2014 (or 1Q14) portfolio. Ocwen Financial is a financial services holding company that, through its subsidiaries, is one of the largest mortgage companies in the U.S.