Ocwen Financial Corp. in Negotiations to Refinance Debt
In an attempt to avoid a cash crisis, Ocwen Financial Corp. disclosed on Monday that it is currently negotiating with lenders to extend and refinance some of its debt.
If the company is unable to change some of its debt arrangements – particularly ones that are set to amortize this year – it could face a liquidity crunch.
“Due to the significant level of cash requirements related to servicing advances, we may not have sufficient levels of liquidity to fund the operations without our advance financing facilities,” Ocwen said in the filing.
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