EXHIBIT 21.1

SIGNIFICANT DIRECT AND INDIRECT SUBSIDIARIES OF OCWEN FINANCIAL CORPORATION

The following is a list of subsidiaries of the registrant as of December 31, 2015, omitting certain subsidiaries which, considered in the aggregate, would not constitute a significant subsidiary.

Name	State or Other Jurisdiction of Organization
Ocwen Loan Servicing, LLC (1)	Delaware
Ocwen Mortgage Servicing, Inc. (1)	U.S. Virgin Islands
Homeward Residential Holdings, Inc.	Delaware
Homeward Residential, Inc. (1)	Delaware
Liberty Home Equity Solutions, Inc. (1)	California
REO Management, LLC (1)	U.S. Virgin Islands
Ocwen Advance Master Receivables Trust (2)	Delaware

(1) Operating company

(2) Special purpose entity