XNYS:OCN Ocwen Financial Corp Quarterly Report 10-Q Filing - 6/30/2012

Effective Date 6/30/2012

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 10-Q

(Mark One)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
   For the quarterly period ended June 30, 2012 

or

oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
   
  For the transition period from: _____________________ to _____________________

Commission File Number: 1-13219

Ocwen Financial Corporation

(Exact name of registrant as specified in its charter)

 

Florida   65-0039856
(State or other jurisdiction   (I.R.S. Employer
of incorporation or organization)   Identification No.)

 

     
   2002 Summit Boulevard, 6th Floor, Atlanta, Georgia 30319  
   (Address of principal executive offices) (Zip Code)  

 

(561)  682-8000

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer x Accelerated filer o
Non-accelerated filer o (Do not check if a smaller reporting company) Smaller reporting company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

Number of shares of Common Stock, $0.01 par value, outstanding as of August 1, 2012: 134,885,695 shares.

 

 

 
 

OCWEN FINANCIAL CORPORATION

FORM 10-Q

INDEX

 

 

 PART I –   FINANCIAL INFORMATION   PAGE
           
 Item 1.    Interim Consolidated Financial Statements (Unaudited)     3
           
    Consolidated Balance Sheets at June 30, 2012 and December 31, 2011     3
           
    Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2012 and 2011     4
           
    Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2012 and 2011     5
           
    Consolidated Statements of Changes in Stockholders’ Equity for the Six Months Ended June 30, 2012 and 2011     6
           
    Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2012 and 2011     7
           
    Notes to Interim Consolidated Financial Statements     8
           
 Item 2.   Managements’ Discussion and Analysis of Financial Condition and Results of Operations     29
           
 Item 3.   Quantitative and Qualitative Disclosures About Market Risk     46
           
 Item 4.   Controls and Procedures     47
           
 PART II –   OTHER INFORMATION      
           
 Item 1.   Legal Proceedings     47
           
 Item 1A.   Risk Factors     47
           
 Item 6.   Exhibits     47
           
    Signatures     49

1
 

Forward-Looking Statements

This Quarterly Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 2

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