As reported earlier, BTIG analyst Giuliano Bologna initiated Ocwen with a Neutral rating as part of his broader research note into Mortgage Servicers. The analyst notes that in spite of the rising interest rate tail risk, the stock does not represent an "attractive opportunity currently due to the wide range of potential outcomes during the company's turnaround". Bologna adds that the range of outcomes should narrow and his investment thesis will become clearer as Ocwen progresses toward its goals of "cutting costs, integrating the PHH Corp (PHH) acquisition and boarding current loans onto the Black Knight (BKI) LoanSphere.