Ocwen Financial's first-quarter profit fell 43%, and the Atlanta mortgage servicer said that its auditor is questioning its long-term viability.

Chief Executive Ron Faris told analysts Thursday that Ocwen's independent auditor has again delayed its 2014 financial results and has raised questions about the firm's ability to operate as a going concern because of liquidity problems and the strict regulatory environment. Its 2014 results are expected to be finalized by May 29.

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