Ocwen Financial Corporation

Ticker: OCWN		The Forum, Suite 1000, 1675 Palm Beach Lakes Boulevard
Exchange: NASDAQ-National Market		West Palm Beach, Florida 33401
Industry: Financial		(561) 681-8000

Type of Shares:	Common Shares	Filing Date:	6/4/96
U.S. Shares:	2,000,000	Offer Date:	9/25/96
Non-U.S. Shares:	0	Filing Range:	$11.50 - $13.00
Primary Shares:	0	Offer Price:	$15.00
Secondary Shares:	2,000,000	Gross Spread:	$1.05
Offering Amount:	$24,500,000	Selling:	$0.63
Expenses:	-	Reallowance:	$0.10
Shares Out After:	23,812,270

Manager	Tier	Phone
Friedman, Billings, Ramsey & Co., Inc.	Lead Manager	(703) 312-9500

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	12/31/95	3/31/96	3/31/95		3/31/96
Revenue:	$146.17	$50.22	$27.90	Assets:	$1,880.40
Net Income:	$25.47	$3.03	$2.11	Liabilities:	$1,738.30
EPS:	$1.19	$0.11	$0.11	Equity:	$142.10
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The company is a financial services company which is primarily engaged in the acquisition and resolution of troubled loans and in diverse mortgage lending activities. The activities of the Company are primarily conducted through Berkeley Federal Bank & Trust FSB, a federally chartered savings bank and a wholly-owned subsidiary of the Company. At March 31, 1996, the Company had $1.9 billion of total assets and stockholders' equity of $142.1 million. Exclusive of gains from the sale of branch offices and related income taxes and profit sharing expense, the Company's income from continuing operations before extraordinary gain and cumulative effect of a change in accounting principle resulted in returns on average assets of 2.00%, 1.140% and 2.37% during 1995, 1994 and 1993, respectively, and returns on average equity of 25.02%, 20.06% and 27.89% during the same respective periods.

Use of Proceeds

Proceeds from the proposed offering will be distributed to selling shareholders.

Last updated: 10/28/96