OCWEN FINANCIAL CORPORATION (NYSE:OCN) Files An 8-K Other Events

Item 8.01

On March 27, 2017, Ocwen Financial Corporation and, its
subsidiary, Ocwen Loan Servicing, LLC (collectively, Ocwen)
entered into a consent order (2017 Consent Order) with the New
York Department of Financial Services (NY DFS) that provides for
the termination of the engagement of the third party operations
monitor appointed to Ocwens December 2014 consent order with the
NY DFS (2014 Consent Order) within the next three weeks. The 2017
Consent Order also provides for a determination on whether the
restrictions on acquisitions of mortgage servicing rights (MSRs)
contained in the 2014 Consent Order should be eased following
completion of a scheduled servicing examination.

Following the termination of the engagement of the operations
monitor, Ocwen will have certain reporting and other obligations,
including in connection with matters identified in a final report
by the operations monitor. In addition, if the NY DFS concludes
that Ocwen has materially failed to comply with these obligations
or otherwise finds that Ocwens servicing operations are
materially deficient, the NY DFS may require Ocwen to retain an
independent consultant that is acceptable to the NY DFS to review
and issue recommendations on Ocwens servicing operations.

Ocwen continues to work cooperatively with the NY DFS and
believes that its entry into the 2017 Consent Order, which
provides for the termination of the operations monitorship, is in
the best interest of its shareholders, customers, servicing
clients, employees and other stakeholders.

Special Note Regarding Forward-Looking
Statements

This Current Report on Form 8-K contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking
statements may be identified by a reference to a future period or
by use of forward-looking terminology.

Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Our business has been
undergoing substantial change, which has magnified such
uncertainties. Readers should bear these factors in mind when
considering such statements and should not place undue reliance
on such statements. Forward-looking statements involve a number
of assumptions, risks and uncertainties that could cause actual
results to differ materially. In the past, actual results have
differed from those suggested by forward-looking statements and
this may happen again.

Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements
include, but are not limited to, the risks detailed in Ocwen’s
reports and filings with the SEC, including its Annual Report on
Form 10-K for the year ended December 31, 2016 and any periodic
or current reports since such date. Anyone wishing to understand
Ocwen’s business should review its SEC filings. Ocwen’s
forward-looking statements speak only as of the date they are
made and we disclaim any obligation to update or revise
forward-looking statements whether as a result of new
information, future events or otherwise. Ocwen may post
information that is important to investors on our website.

About OCWEN FINANCIAL CORPORATION (NYSE:OCN)

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core 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 business activities that include providing secured floor plan lending to used car dealerships through its Automotive Capital Services (ACS) venture and providing financing to investors to purchase single-family homes and apartments for lease through its Liberty Rental Finance venture. The Corporate Items and Other segment also includes the diversified fee-based businesses, which provide property valuation, real estate owned (REO) management, title and closing services.

OCWEN FINANCIAL CORPORATION (NYSE:OCN) Recent Trading Information

OCWEN FINANCIAL CORPORATION (NYSE:OCN) closed its last trading session up +0.08 at 4.89 with 1,475,383 shares trading hands.