Ocwen shares surge on upgrade

Ocwen's West Palm Beach office. Photo by Gary Coronado/The Palm Beach Post.

Ocwen’s West Palm Beach office. Photo by Gary Coronado/The Palm Beach Post.

Ocwen Financial got a rare bit of good news on Tuesday afternoon, and shares surged 15 percent.

Ocwen coverage

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The West Palm Beach-based mortgage company said Standard & Poor’s raised six of its ratings to “average” from “below average.”

“We believe S&P’s conclusions reflect the significant progress Ocwen has made in enhancing our control functions, and strengthening the company’s governance and financial condition,” the company said in a statement.

 

 

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