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DS News April 2017

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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18 ON THE WEB WEBSITES TO GET TO KNOW. Bring your presentations to life using POWTOON, animation software that will liven any demonstration. Using tutorials, live webinars, and PowToon's training center, you can create animations and eliminate any doubts about outsourcing a costly animation studio to fulfill your company's needs. PowToon also features a storyboard builder, pre-made templates, and a drag-and-drop component for a seamless creative process. Collaboration has never been this easy thanks to BITRIX24, software that integrates task management, document sharing, and time tracking for maximum work and communications efficiency. e software's Activity Stream interface provides users with the ability to view real-time updates, smart following, notification settings, and company-wide announcements. Bitrix24's Activity Stream also allows users to schedule events, attach files, and receive feedback from colleagues. SOGO SURVEY allows users to take full control of the survey-creating experience. e survey software is great for those who are creating surveys for customer satisfaction, human resources, market research, and event management. SoGo Survey features multilingual surveys for those who have a preferred language, participant confidentiality, survey design, and mobile optimization. You can even embed multimedia components to engage participants. BITRIX24.COM 2 POWTOON.COM 1 SOGOSURVEY.COM 3 OCWEN ANNOUNCES Q4 2016 RESULTS Ocwen Financial released its operating results for Q 4 and full year 2016 in late February. In Q 4 2016, Ocwen's servicing segment recorded $43.3 million in pretax income, a gain over the previous quarter by $10.1 million. However, for 2016 as a whole, the servicing segment recorded a $6.5 million loss, while the company as a whole recorded a net loss of $10.4 million. Full-year net loss equaled $199.6 million. ough the servicer recorded losses, 2016 saw gains for the company that saw a net loss of $246.7 million in 2015. e losses can be partly attributed to the fact that at the end of Q 4 2016, Ocwen had not yet paid various legal and settlement amounts, which total approximately $68 million. For Q 4 2016, Ocwen posted a net loss of $10.2 million companywide. Overall, the servicer's revenue was $1.4 billion for 2016. e company generated $475 million of cash flows from operating activities in 2016, ending the year with $257 million of cash. Delinquencies on Ocwen's books decreased from 11.4 percent to 11.2 percent between Q 3 and Q 4 2016. e company's reverse mortgage portfolio was worth $101.1 million by the end of the year. It originated $4.2 billion in forward mortgage loans and $825.5 million in reverse mortgages. "Not only did we deliver significantly improved financial performance versus the first half of the year, we continued our industry leadership in helping struggling families remain in their homes through responsible loan modifications," said Ron Faris, President and CEO of Ocwen. "We also refinanced our corporate debt, improved our cost structure, and raised our servicer ratings and rankings. In addition, we continued to make progress towards resolving our major legacy legal and regulatory issues, but more progress is needed for us to complete our stabilization process." The mortgage delinquency rate at the end of 2016. Source: TransUnion Q4 2016 Industry Insight Report STAT INSIGHT 2.28%

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