Ocwen Financial Corporation (NYSE:OCN) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET Company Participants Dico Akseraylian – Senior Vice President-Corporate Communications Glen Messina – Chief Executive Officer Sean O’Neil – Chief Financial Officer Conference Call Participants Bose George – KBW Lee Cooperman – Omega Family Office Kyle Joseph – Jefferies Matthew Howlett – B. Riley Eric Hagen – BTIG Operator Greetings, and welcome to the Ocwen Financial Corporation Fourth Quarter Earnings and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | Florida | 65-00 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Fl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | Florida | 65-00 ...

PART I - FINANCIAL INFORMATION [Item 1. Unaudited Consolidated Financial Statements](index=5&type=section&id=Item%201.%20Unaudited%20Consolidated%20Financial%20Statements) The company's unaudited consolidated financial statements detail its financial position, operational results, and cash flows for the period ended September 30, 2021 [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Consolidated Balance Sheet Summary (in thousands) | Account | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$12,040,238** | **$10,651,127** | | Mortgage servicing rights (MSRs) | $2,176,260 | $1,294,817 | | Loans held for investment, at fair value | $7,108,730 | $7,006,897 | | Loans held for sale | $933,700 | $387,836 | | **Total Liabilities** | **$11,570,367** | **$10,235,755** | | HMBS related borrowings, at fair value | $6,782,564 | $6,772,711 | | Mortgage loan warehouse facilities | $1,069,170 | $451,713 | | MSR financing facilities, net | $945,744 | $437,672 | | Senior notes, net | $612,658 | $311,898 | | **Total Stockholders' Equity** | **$469,871** | **$415,372** | Consolidated Statement of Operations Summary (in thousands) | Metric | Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $283,101 | $249,035 | $756,140 | $729,901 | | MSR valuation adjustments, net | $(6,320) | $(33,814) | $(57,562) | $(231,368) | | Total Operating Expenses | $145,436 | $149,522 | $434,873 | $431,545 | | Income (loss) before income taxes | $10,263 | $(11,374) | $(335) | $(104,875) | | **Net Income (Loss)** | **$21,552** | **$(9,420)** | **$19,773** | **$(32,955)** | | **Diluted EPS** | **$2.29** | **$(1.09)** | **$2.13** | **$(3.76)** | Consolidated Statement of Cash Flows Summary (YTD, in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(412,836) | $248,039 | | Net cash used in investing activities | $(845,381) | $(328,116) | | Net cash provided by (used in) financing activities | $1,222,301 | $(29,297) | | **Net decrease in cash, cash equivalents and restricted cash** | **$(35,916)** | **$(109,374)** | [Note 1 - Organization and Basis of Presentation](index=12&type=section&id=Note%201%20-%20Organization%20and%20Basis%20of%20Presentation) - Ocwen Financial Corporation operates as a non-bank mortgage servicer and originator through its subsidiary, PHH Mortgage Corporation, focusing on servicing, subservicing, and loan origination[26](index=26&type=chunk)[28](index=28&type=chunk)[29](index=29&type=chunk) - The company maintains significant international operations, with approximately **3,200 employees in India** and **400 in the Philippines** supporting servicing and corporate functions[30](index=30&type=chunk) - A **one-for-15 reverse stock split** was implemented in August 2020, and all share and per-share data have been retroactively adjusted[32](index=32&type=chunk) [Note 2 – Securitizations and Variable Interest Entities](index=14&type=section&id=Note%202%20%E2%80%93%20Securitizations%20and%20Variable%20Interest%20Entities) - The company accounts for securitizations of GSE or Ginnie Mae guaranteed loans as sales, retaining **$136.5 million in MSRs** in the first nine months of 2021[43](index=43&type=chunk)[45](index=45&type=chunk) - Transfers of Home Equity Conversion Mortgage (HECM) loans into the HMBS program are treated as financings, with the loans remaining on the balance sheet[49](index=49&type=chunk) - Ocwen consolidates various Special Purpose Entities (SPEs) and Variable Interest Entities (VIEs) used for financing purposes, as it is deemed the primary beneficiary[50](index=50&type=chunk)[52](index=52&type=chunk)[55](index=55&type=chunk) [Note 3 – Fair Value](index=16&type=section&id=Note%203%20%E2%80%93%20Fair%20Value) - Significant assets and liabilities, including MSRs and reverse mortgages, are classified as **Level 3** in the fair value hierarchy, indicating reliance on unobservable inputs[61](index=61&type=chunk)[67](index=67&type=chunk) Key Level 3 Assets and Liabilities at Fair Value (in thousands) | Item | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | MSRs | $2,176,260 | $1,294,817 | | Loans held for investment - Reverse mortgages | $7,100,726 | $6,997,127 | | HMBS-related borrowings | $6,782,564 | $6,772,711 | | Financing liability - Transferred MSR liability | $702,907 | $566,952 | MSR Valuation Sensitivity (as of Sep 30, 2021, in thousands) | Adverse Change Scenario | 10% Increase | 20% Increase | | :--- | :--- | :--- | | Weighted average prepayment speeds | $(65,965) | $(128,151) | | Weighted average discount rate | $(53,571) | $(103,573) | [Note 7 – Mortgage Servicing](index=27&type=section&id=Note%207%20%E2%80%93%20Mortgage%20Servicing) MSR Portfolio Roll-Forward (At Fair Value, in thousands) | Description | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Beginning balance | $1,294,817 | $1,486,395 | | Additions (New & Purchased) | $942,951 | $116,779 | | Changes in fair value | $(54,668) | $(270,626) | | **Ending balance** | **$2,176,260** | **$1,069,013** | - The total UPB of the MSR portfolio grew to **$206.0 billion** from $154.2 billion, driven by a bulk acquisition of GSE loans with a **$46.8 billion UPB** in June 2021[94](index=94&type=chunk)[95](index=95&type=chunk) Servicing Revenue Breakdown (in thousands) | Revenue Source | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | | Servicing | $246,363 | $161,154 | | Subservicing (incl. MAV & NRZ) | $243,681 | $325,232 | | Ancillary income | $72,720 | $82,059 | | **Total** | **$562,764** | **$568,445** | [Note 8 — MSR Transfers Not Qualifying for Sale Accounting](index=29&type=section&id=Note%208%20%E2%80%94%20MSR%20Transfers%20Not%20Qualifying%20for%20Sale%20Accounting) - Certain MSR transfers to New Residential (NRZ) and MAV are treated as **secured financings**, with the assets and a corresponding liability remaining on the balance sheet[98](index=98&type=chunk)[99](index=99&type=chunk)[100](index=100&type=chunk) Assets & Liabilities from Non-Sale MSR Transfers (in thousands) | Account | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Transferred MSRs, at fair value | $718,913 | $566,952 | | Other financing liability - Transferred MSR liability | $702,907 | $566,952 | - The termination of an NRZ subservicing agreement in February 2020 met sale accounting criteria, resulting in the **derecognition of $263.7 million in MSRs** and the related financing liability[92](index=92&type=chunk)[122](index=122&type=chunk) [Note 10 - Investment in Equity Method Investee](index=36&type=section&id=Note%2010%20-%20Investment%20in%20Equity%20Method%20Investee) - Ocwen holds a **15% equity interest** in MAV Canopy, a joint venture with Oaktree Capital Management formed to invest in MSRs[125](index=125&type=chunk) - The company's subsidiary, PMC, holds exclusive rights to subservice MAV's MSR portfolio and solicit its borrowers for refinancing[126](index=126&type=chunk)[127](index=127&type=chunk) - As of September 30, 2021, Ocwen's investment in MAV Canopy was valued at **$19.8 million**[137](index=137&type=chunk) [Note 12 – Borrowings](index=39&type=section&id=Note%2012%20%E2%80%93%20Borrowings) - In March 2021, the company completed a major debt refinancing, redeeming **$21.5 million** of 6.375% Senior Notes, **$291.5 million** of 8.375% Senior Secured Notes, and repaying its **$185.0 million** Senior Secured Term Loan[159](index=159&type=chunk)[163](index=163&type=chunk) - Concurrently, the company issued **$400.0 million** of new 7.875% Senior Secured Notes due 2026 and **$285.0 million** in total Senior Secured Notes due 2027 to Oaktree investors[164](index=164&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk) - The company was in compliance with all debt covenants, including a minimum tangible net worth of **$275.0 million** and minimum consolidated liquidity of **$125.0 million**[178](index=178&type=chunk)[179](index=179&type=chunk) [Note 19 – Business Segment Reporting](index=52&type=section&id=Note%2019%20%E2%80%93%20Business%20Segment%20Reporting) Segment Income (Loss) Before Income Taxes (YTD 2021 vs YTD 2020, in thousands) | Segment | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Servicing | $14,728 | $(74,283) | | Originations | $75,846 | $71,149 | | Corporate Items and Other | $(90,909) | $(101,741) | | **Total** | **$(335)** | **$(104,875)** | Total Assets by Segment (in thousands) | Segment | September 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Servicing | $10,790,503 | $9,847,603 | | Originations | $865,011 | $379,233 | | Corporate Items and Other | $384,724 | $424,291 | | **Total** | **$12,040,238** | **$10,651,127** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=61&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition, operational results, segment performance, and strategic outlook for the third quarter of 2021 [Overview](index=64&type=section&id=Overview) - Ocwen operates a balanced business model of servicing and originations, with a total servicing UPB of **$248.3 billion** as of September 30, 2021[276](index=276&type=chunk) Total Servicing and Subservicing UPB Additions (in billions) | Period | Q3 2021 | Q2 2021 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Additions | $26.48 | $68.67 | $108.68 | $26.74 | - Key operating objectives for 2021 include accelerating growth, strengthening recapture performance, and improving cost leadership[286](index=286&type=chunk) - The company managed **53,300 loans** under COVID-19 forbearance plans, representing **4.1%** of its total portfolio, a declining trend[291](index=291&type=chunk) [Results of Operations](index=67&type=section&id=Results%20of%20Operations) Consolidated Results of Operations Summary (in millions) | Metric | Q3 2021 | Q2 2021 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $283.1 | $265.4 | $756.1 | $729.9 | | MSR valuation adjustments, net | $(6.3) | $(72.5) | $(57.6) | $(231.4) | | **Net Income (Loss)** | **$21.6** | **$(10.3)** | **$19.8** | **$(33.0)** | - Q3 2021 revenue **increased by $17.7 million (7%)** from Q2 2021, driven by higher servicing fees and gains on sale of loans[298](index=298&type=chunk)[300](index=300&type=chunk) - MSR valuation adjustments improved significantly, with a net loss of **$6.3 million** in Q3 2021 compared to a **$72.5 million** loss in Q2 2021[303](index=303&type=chunk)[305](index=305&type=chunk) - Operating expenses **decreased by 3%** from Q2 2021, primarily due to a **$7.1 million** decline in professional services expense[315](index=315&type=chunk) [Financial Condition](index=74&type=section&id=Financial%20Condition) - Total assets **increased by $1.4 billion** to $12.0 billion, driven by an **$881.4 million (68%) increase in MSRs** and a **$545.9 million (141%) increase in loans held for sale**[335](index=335&type=chunk) - Total liabilities **increased by $1.3 billion**, reflecting higher warehouse and MSR financing facilities to fund portfolio growth[336](index=336&type=chunk) - Total stockholders' equity **increased by $54.5 million** to $469.9 million, driven by stock issuance to Oaktree and net income[338](index=338&type=chunk) [Segment Results of Operations](index=75&type=section&id=Segment%20Results%20of%20Operations) [Servicing Segment](index=76&type=section&id=Servicing%20Segment) The Servicing segment's pre-tax income improved significantly due to portfolio growth and gains on exercised call rights, despite reverse mortgage revenue declines Servicing Segment Results (in millions) | Metric | Q3 2021 | Q2 2021 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $224.3 | $197.3 | $596.9 | $592.0 | | MSR valuation adjustments, net | $(10.6) | $(69.9) | $(103.2) | $(249.9) | | Total operating expenses | $80.8 | $83.6 | $247.2 | $255.5 | | **Income (loss) before income taxes** | **$16.6** | **$(15.4)** | **$14.7** | **$(74.3)** | - NRZ remains the largest subservicing client, accounting for **24% of UPB**, though the average UPB serviced for NRZ **decreased by 5%** from Q2 to Q3 2021[349](index=349&type=chunk)[372](index=372&type=chunk) - The fair value of owned MSRs experienced a net loss of **$50.1 million** in Q3 2021, driven by portfolio runoff and hedging losses[382](index=382&type=chunk)[386](index=386&type=chunk) [Originations Segment](index=90&type=section&id=Originations%20Segment) The Originations segment's pre-tax income declined due to higher compensation expenses, despite increased revenue and correspondent channel volume Originations Segment Results (in millions) | Metric | Q3 2021 | Q2 2021 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $58.8 | $55.4 | $180.4 | $124.8 | | MSR valuation adjustments, net | $2.8 | $8.8 | $20.1 | $26.3 | | Total operating expenses | $43.5 | $39.7 | $120.5 | $78.3 | | **Income before income taxes** | **$16.8** | **$22.5** | **$75.8** | **$71.1** | Originations & MSR Purchases by Channel (UPB in millions) | Channel | Q3 2021 | Q2 2021 | | :--- | :--- | :--- | | Forward Loans (Correspondent & Direct) | $5,928 | $3,098 | | Reverse Loans | $428 | $340 | | MSR Purchases (Flow/Bulk) | $4,902 | $61,302 | | **Total** | **$11,258** | **$64,740** | - The company expanded its correspondent seller network from **119 to 419** in the twelve months to September 30, 2021[410](index=410&type=chunk)[425](index=425&type=chunk) [Corporate Items and Other Segment](index=95&type=section&id=Corporate%20Items%20and%20Other%20Segment) The Corporate segment's pre-tax loss narrowed due to lower professional services and legal settlement expenses Corporate Items and Other Segment Results (in millions) | Metric | Q3 2021 | Q2 2021 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $1.5 | $1.5 | $4.3 | $5.2 | | Total operating expenses | $21.1 | $26.5 | $67.1 | $97.7 | | Total other expense, net | $(3.6) | $(4.4) | $(28.1) | $(9.3) | | **Loss before income taxes** | **$(23.2)** | **$(29.4)** | **$(90.9)** | **$(101.7)** | - Professional services expense for YTD 2021 **declined $22.7 million (43%)** compared to YTD 2020, driven by lower legal expenses and cost initiatives[448](index=448&type=chunk) - A loss on debt extinguishment of **$15.5 million** was recognized in Q1 2021 due to the corporate debt refinancing[454](index=454&type=chunk) [Liquidity and Capital Resources](index=98&type=section&id=Liquidity%20and%20Capital%20Resources) - The company completed a comprehensive refinancing of its corporate debt, extending maturities by over three years and increasing financial flexibility[457](index=457&type=chunk)[459](index=459&type=chunk) - Unrestricted cash was **$236.1 million**, while total borrowing capacity **increased by $1.3 billion (60%)** during the first nine months of 2021[462](index=462&type=chunk)[464](index=464&type=chunk) Cash Flow Summary (YTD, in millions) | Cash Flow Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(413) | $248 | | Net cash used in investing activities | $(845) | $(328) | | Net cash provided by (used in) financing activities | $1,222 | $(29) | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=105&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company details its exposure to interest rate, foreign currency, and home price risks, highlighting a new MSR hedging strategy implemented in May 2021 - Effective May 2021, the company ended its macro-hedging strategy and began **hedging its MSR portfolio and originations pipeline separately**[528](index=528&type=chunk)[537](index=537&type=chunk) Interest Rate Sensitivity of MSR Portfolio and Hedges (as of Sep 30, 2021, in millions) | Scenario | Agency MSRs (excl. NRZ) | Total Hedge Position | Hypothetical Residual Exposure | | :--- | :--- | :--- | :--- | | **25 bps rate decrease** | $(74.5) | $42.5 | $(32.0) | | **25 bps rate increase** | $75.3 | $(43.9) | $31.4 | - The company is exposed to **daily margining requirements** on its MSR financing facilities and derivative instruments, which could require posting additional cash collateral[469](index=469&type=chunk)[534](index=534&type=chunk) [Item 4. Controls and Procedures](index=109&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal controls - Management concluded that as of September 30, 2021, the company's disclosure controls and procedures were **effective** in providing reasonable assurance of timely and accurate reporting[551](index=551&type=chunk) - There were **no material changes** in internal control over financial reporting during the quarter ended September 30, 2021[552](index=552&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=110&type=section&id=Item%201.%20Legal%20Proceedings) The report references Notes 20 and 22 for detailed disclosures on ongoing legal proceedings and regulatory matters - For information regarding legal proceedings, the report refers to **Note 20 (Regulatory Requirements)** and **Note 22 (Contingencies)** in the financial statements[554](index=554&type=chunk) [Item 1A. Risk Factors](index=110&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported to the risk factors previously disclosed in the company's 2020 Annual Report on Form 10-K - The company states there are **no material changes** from the risk factors disclosed in its Annual Report on Form 10-K for the year ended December 31, 2020[555](index=555&type=chunk) [Item 6. Exhibits](index=110&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including officer certifications under the Sarbanes-Oxley Act and financial data in Inline XBRL format - The exhibits filed with this report include officer certifications pursuant to **Sections 302 and 906 of the Sarbanes-Oxley Act**, and financial data in Inline XBRL format[556](index=556&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Fl ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 OCWEN FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Florida 65-003985 ...