X0306 4 2016-07-20 0 0000873860 OCWEN FINANCIAL CORP OCN 0001048105 ERBEY WILLIAM C P.O. BOX 25437 CHRISTIANSTED, ST. CROIX VI 00824 VIRGIN ISLANDS, U.S. 0 0 1 0 Common Stock 69805 D Common Stock 2016-05-12 4 J 0 2440000 0 D 0 I By Caritas Partners, LLC Common Stock 2016-05-12 4 J 0 2440000 0 A 7849704 I By Munus, L.P. Common Stock 1000000 I By Salt Pond Holdings, LLC Common Stock 9020852 I By Tribue Limited Partnership Call Options (obligation to sell) 8.00 2016-07-15 5 E 0 1 0 D 2015-12-29 2016-07-15 Common Stock 300000 0 I By Tribue Limited Partnership Call Options (obligation to sell) 8.00 2016-07-15 5 E 0 1 0 D 2015-12-29 2016-07-15 Common Stock 300000 0 I By Tribue Limited Partnership Call Options (obligation to sell) 2.50 2016-07-20 4 S 0 20000 37.50 D 2016-07-20 2018-01-19 Common Stock 2000000 20000 I By Tribue Limited Parthership Call Options (obligation to sell) 2.50 2016-07-20 4 S 0 20000 37.5078 D 2016-07-20 2018-01-19 Common Stock 2000000 20000 I By Tribue Limited Partnership On May 12, 2016, 2,440,000 shares of Ocwen Financial Corp ("Ocwen") were transferred from Caritas Partners, LLC to Munus, L.P. This change in the form of Mr. Erbey's ownership did not change his pecuniary interest in the shares of Ocwen. On July 15, 2016, two call options previously written by Mr. Erbey via his holdings in Tribue Limited Partnership ("Tribue") expired out of the money. Option transaction entered into by Tribue in which Salt Pond Holdings, LLC (56.2% of which is owned by Mr. Erbey, 24.5% of which is owned by the Frederiksted Trust, a U.S. Virgin Islands Trust, and 19.3% of which is owned by Erbey Holding Corporation, Inc., a corporation wholly-owned by Mr. Erbey) has a 90% preferred limited partner interest and a 9.9% common limited partner interest and Mr. Erbey has a 0.1% general partner interest. /s/ William C. Erbey 2016-07-22