Ocwen Financial's shares had fallen nearly 7% Friday afternoon, to under $10 apiece, a day after Standard & Poor's Ratings Services put the company's servicer ratings on CreditWatch negative.

S&P cited numerous reasons Thursday for putting the Atlanta mortgage servicer on watch for a possible downgrade including "high-risk findings in key areas of the servicing and default operations." S&P said Ocwen's internal audit department recently experienced turnover and a reorganization.

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