market folly

Per a Form 4 filed with the SEC, Omega Advisors' Lee Cooperman has indicated he's purchased more shares of Ocwen Financial (OCN).  This is the second time this year he's purchased shares, as we highlighted his previous OCN buy as well.

In various trades on February 28th, March 1st, and March 2nd, Cooperman bought 539,798 shares in total at prices around $3.5872 for various Omega investment vehicles.

For more on this investor, be sure to also check out Cooperman's recent interview in the Graham & Doddsville newsletter.

Per Google Finance, Ocwen Financial is "a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company's segments include Servicing, Lending, and Corporate Items and Other. The Company's Servicing segment consists of its residential servicing business. The Company's Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans. The Company's Corporate Items and Other segment includes revenues and expenses of Automotive Capital Services (ACS) and its other business activities. Its servicing clients include some of the financial institutions in the United States, including the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), the Government National Mortgage Association (Ginnie Mae) and non-Agency residential mortgage-backed securities (RMBS) trusts. "