NEW YORK (TheStreet) -- Shares of Ocwen Financial Corp. (OCN) - Get Report are down by 2.84% to $8.55 in mid-afternoon trading on Tuesday, after the financial services company disclosed late Monday that the New York Stock Exchange sent Ocwen a letter dated March 18 notifying it that "the company was not in compliance with the continued listing standards."

The letter was a result of Ocwen's failure to file its annual report Form 10-K for the fiscal year ended December 31, 2014 in a timely manner.

Earlier this month Ocwen stated that it would need more time to complete its 10-K primarily due to its continuing review of its Home Loan Servicing Solutions Ltd. unit's "ability to continue to meet its obligations to fund new servicing advances."

Ocwen said that it isn't able to provide an expected date for when it will file its Form 10-K.

Additionally, Ocwen announced today that it's planning to sell another $25 billion portfolio of mortgage servicing rights to Nationstar  (NSM) . The portfolio consists of approximately 142,000 loans owned by Freddie Mac (FMCC) and Fannie Mae (FNMA) .

The transaction is on top of the previous portfolio sale between the two companies from February.

For more on Ocwen click here. 

Separately, TheStreet Ratings team rates OCWEN FINANCIAL CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate OCWEN FINANCIAL CORP (OCN) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• Net operating cash flow has significantly increased by 143.32% to $348.99 million when compared to the same quarter last year. In addition, OCWEN FINANCIAL CORP has also vastly surpassed the industry average cash flow growth rate of -26.72%.
• Regardless of the drop in revenue, the company managed to outperform against the industry average of 5.5%. Since the same quarter one year prior, revenues slightly dropped by 2.9%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
• The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Thrifts & Mortgage Finance industry. The net income has significantly decreased by 224.4% when compared to the same quarter one year ago, falling from $60.57 million to -$75.38 million.
• Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 79.43%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 248.71% compared to the year-earlier quarter. Although its share price is down sharply from a year ago, do not assume that it can now be tagged as cheap and attractive. The reality is that, based on its current price in relation to its earnings, OCN is still more expensive than most of the other companies in its industry.
• You can view the full analysis from the report here: OCN Ratings Report