Ocwen Financial Corp., a major buyer of MSRs the past two years, earned $9.7 million in the fourth quarter, a slight decline from the same period a year earlier.

But the specialty servicer blamed its weaker results on $31.3 million of costs tied to its 4Q11 purchase of Litton Loan Servicing, Houston. If not for the charge – and certain foreign exchange costs – it would've posted pre-tax earnings of $53.4 million.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.