Ocwen Keeps Clawing Its Way Back

Mortgage servicing company Ocwen Financial (NYSE: OCN) has had to deal with extensive challenges recently. Just as it thought it had nearly resolved many of the regulatory issues that had plagued it for a long time, Ocwen got thrown back into the fray with more government scrutiny. All the while, the company has tried to keep operating its business efficiently so as to move back toward profitability and to take advantage of opportunities in the space.

Coming into Wednesday's second-quarter financial report, Ocwen investors wanted to see the company make progress toward eliminating red ink, but they were realistic in their assessment of the pace of its recovery efforts. Ocwen's results were far from ideal, but they nevertheless marked hard-earned milestones in the mortgage servicer's long-term journey. Let's look more closely at Ocwen Financial and how its latest results relate to what's happening with the business.

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Source: Fool.com