August 7, 2009 (FinancialWire) — Ocwen Financial Corp. (”Ocwen”) (NYSE: OCN) TODAY announced a proposed public offering of common stock.

Ocwen intends to offer, subject to market and other conditions, $250 million of its common stock. In connection with this offering, Ocwen intends to grant the underwriters a 30-day option to purchase an additional 15% of the number of shares of its common stock sold in the offering.

The net proceeds from the common stock offering will be used for general corporate purposes, including, without limitation, acquisitions and working capital.

J.P. Morgan Securities Inc., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the common stock offering. Piper Jaffray & Co. and Keefe, Bruyette & Woods, Inc. are acting as co-managers.

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