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Ocwen Financial Corp. is likely to begin returning capital to shareholders via buybacks as the firm's cash generation outpaces what is needed for acquisitions, Executive Chairman William Erbey said during a May 2 earnings call.
The servicer still anticipates significant deal activity in its future, with a pipeline of $375 billion of unpaid principal balance comprising $325 billion in mortgage servicing rights and $50 billion of subservicing. Ocwen President and CEO Ronald Faris said the firm is in "advanced discussions" with regard to about 25% of the pipeline, but he does not expect any deals...