Onity Group Inc. · NYSE:ONIT
Onity — Ocwen Financial — Investor Presentation (September 2015)
10 slides from Onity's investor presentation, Sep 15, 2015
Slide 1: Investor Presentation September 2015
Investor Presentation September, 2015 Ocwen Financial Corporation? 1 ©2015 Ocwen Financial Corporation. All rights reserved.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS: Our presentation contains certain forward-looking statements as defined under the federal securities laws. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology, and include pro forma financial in
Slide 3: Strategic Update
Strategic Update Company executing on key objectives: Announced Agency MSR sales on track to close as expected before end of 2015(a) Reducing Corporate Debt/Equity ratio as previously indicated to an anticipated pro forma ratio of ~0.8x as of June 30, 2015 by year end Executing detailed cost improve
Slide 4: Second Half 2015 Update
Second Half 2015 Update The Company is in the process of refinancing the $1.8B private label OMART servicing advance facility with a $1.65B servicing advance facility comprised of $1.35B of variable funding notes and $300 million of 1-year term notes As previously indicated, the second half will be
Slide 5: Agency MSR Transactions Update
Agency MSR Transactions Update ($ in millions) Closed by Closed in Q3 Q2f15 as of Sep 10 In process(b) Comments UPB of sold MSRs ($ in billions) Performing 63 - 21 Non Performing 3 2 2 Total 66 2 23 Proceeds(a) Performing 414 97 230 Excludes $333 recovery Non Performing (55) (18) (65) of Corporate
Slide 6: Corporate Leverage, Liquidity and Financing Update
Corporate Leverage, Liquidity and Financing Update ($ in millions) Pro Forma SSTL Liquidity and Financing Update Average Cash + Available Liquidity(c) of $487 in the third quarter 2015(d) OMART private label servicing advance facility refinancing is in process and we are targeting execution in Septe
Slide 7: Debt Facilities Overview
Debt Facilities Overview (balances as of 9/11/15) ($ in millions) Debt Facility Available Weighted Average Weighted Average Balance Cap Credit Advance Rate Interest Rate Maturity Comments Advance Facilities OMART $ 1,262 $ 1,800.0 $ 28 79.3% 1L + 2.0% 10/15/2015 Expected to refinance in September OF
Slide 8: Cost Improvement Initiative Underway
Cost Improvement Initiative Underway ($ in millions) Framework Opportunity Areas Expected savings of at least $150 million in 2016 "Automatic" category: savings which are anticipated to vs. projected full year 2015 operating expenses materialize independent of any management action. Examples include
Slide 9: Residential Mortgage Lending Driver of Future Growth
Residential Mortgage Lending Driver of Future Growth Creating a commercial and operational foundation to enable Ocwen to grow into a top 10 originator with innovative, high margin products Approach Retail Build-out Aligning loan fulfillment process across channels, Establishing on-line presence focu
Slide 10: Ocwen Investment Thesis
Ocwen Investment Thesis Proven leader in homeownership preservation through loan modifications and lending to seniors; leader in the U.S. Treasury Home Affordable Modification Program completing 20% of all HAMP modifications(a) Leader in reverse mortgage lending and building a strong foundation for
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