Ocwen Financial Corporation (NYSE:OCN) Q3 2022 Results Conference Call November 3, 2022 8:30 AM ET

Company Participants

Dico Akseraylian - Senior Vice President Corporate Communications

Glen Messina - Chief Executive Officer

Sean O’Neil - Chief Financial Officer

Conference Call Participants

Derek Sommers - Jefferies

Bose George - KBW

Matthew Howlett - B. Riley

Eric Hagen - BTIG

Lee Cooperman - Omega Advisors

Operator

Good day. And welcome the Ocwen’s Financial Corporation Third Quarter Earnings and Business Update Conference Call [Operator Instructions].

At this time, I would like to turn the conference over Dico Akseraylian, Senior Vice President Corporate Communications. Please go ahead.

Dico Akseraylian

Good morning. And thank you for joining us for Ocwen’s third quarter earnings call. Please note that our earnings release and slide presentation are available on our Web site. Speaking on the call will be Ocwen’s Chief Executive Officer, Glen Messina; and Chief Financial Officer, Sean O’Neil. As a reminder, the presentation or comments today may contain forward-looking statements made pursuant to the safe harbor provisions of the federal securities laws. These forward-looking statements maybe identified by reference to a future period or by use of forward-looking terminology and address matters that are to different degrees uncertain. You should bear this uncertainty in mind and should not place undue reliance on such statements. Forward-looking statements involve assumptions, risks and uncertainties, including the risks and uncertainties described in our SEC filings, including our Form 10-K for the year ended December 31, 2021 and our current and quarterly reports since such date. In the past, actual results have deferred materially from those suggested by forward-looking statements, and this may happen again. Our forward-looking statements speak only as of the date they are made, and we disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

In addition, the presentation and our comments contain references to non-GAAP financial measures, such as adjusted pre-tax income and adjusted expenses, among others. We believe these non-GAAP financial measures provide a useful supplement to discussions and analysis of our financial condition, because they are measures that management uses to assess the financial performance of our operations and allocate resources. Non-GAAP financial measures should be viewed in addition to and not as an alternative for the company’s reported results under accounting principles generally accepted in the United States. A reconciliation of the non-GAAP measures used in this presentation to their most directly comparable GAAP measures as well as additional information regarding why management believes these measures may be useful to investors maybe found in the press release in the appendix to the investor presentation.