UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report
(Date of Earliest Event Reported): February 28, 2001
OCWEN FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Florida 0-21341 65-0039856
(State or Other (Commission (I.r.s. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
The Forum, Suite 1000
1675 Palm Beach Lakes Boulevard, West Palm Beach, Florida 33401
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (561) 682-8000
N/A
(Former name or former address, if changed since last report)
Page 1 of 5
Exhibit Index on Page 4
ITEM 5. OTHER EVENTS
The news release of the Registrant dated February 28, 2001 announcing executive
changes is attached hereto and filed herewith as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a)-(b) Not applicable.
(c) Exhibits
The following exhibits are filed as part of this report:
99.1 Text of a press release by the Registrant dated February 28,
2001.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned, hereunto duly authorized.
OCWEN FINANCIAL CORPORATION
(Registrant)
By: /s/ Mark S. Zeidman
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Mark S. Zeidman
Senior Vice President and Chief Financial Officer
Date: February 28, 2001
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INDEX TO EXHIBIT
EXHIBIT NO. DESCRIPTION PAGE
99.1 News release of Ocwen Financial Corporation dated 5
February 28, 2001, announcing executive changes.
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[GRAPHIC OMITTED] Exhibit 99.1
OCWEN FINANCIAL CORPORATION(R)
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FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION, CONTACT:
MARK S. ZEIDMAN
SENIOR VICE PRESIDENT & CFO
T: 561/ 682-8600
E: mzeidman@ocwen.com
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OCWEN FINANCIAL CORPORATION
ANNOUNCES EXECUTIVE CHANGES
WEST PALM BEACH, FL - (FEBRUARY 28, 2001) OCWEN FINANCIAL CORPORATION (NYSE:
OCN) ANNOUNCED SEVERAL CHANGES TO ITS EXECUTIVE TEAM.
FIRST, RONALD M. FARIS HAS BEEN PROMOTED TO PRESIDENT OF OCWEN FINANCIAL
CORPORATION (THE "COMPANY") AND OCWEN FEDERAL BANK FSB ("OCWEN BANK"). HE
REPLACES CHRISTINE A. REICH, WHO IS LEAVING THE COMPANY TO SPEND MORE TIME WITH
HER FAMILY. MRS. REICH ALSO SERVED AS A DIRECTOR OF OCWEN BANK. MRS. REICH WILL
CONTINUE TO SERVE AS A CONSULTANT TO THE COMPANY FOR A PERIOD OF TIME. MR. FARIS
HAS BEEN WITH THE COMPANY SINCE 1991, AND HAS SERVED IN SEVERAL CAPACITIES, MOST
RECENTLY AS EXECUTIVE VICE PRESIDENT RESPONSIBLE FOR THE LOAN SERVICING,
RESIDENTIAL DISCOUNT LOAN AND UNSECURED COLLECTIONS BUSINESS UNITS.
ALSO, THE COMPANY ANNOUNCED THAT ROBERT E. KOE IS JOINING THE COMPANY AS
MANAGING DIRECTOR OF OCWEN INTERNATIONAL. IN THIS CAPACITY HE WILL BE
RESPONSIBLE FOR THE COMPANY'S INTERNATIONAL OPERATIONS. MR. KOE HAS SERVED ON
THE BOARD OF DIRECTORS OF OCWEN BANK SINCE 1994, AND HAS PREVIOUSLY HELD SEVERAL
POSITIONS AT THE COMPANY, MOST RECENTLY AS MANAGING DIRECTOR. MR. KOE HAS
PREVIOUSLY SERVED AS VICE CHAIRMAN OF HELLER FINANCIAL INC. AND AS CHAIRMAN,
PRESIDENT AND CHIEF EXECUTIVE OFFICER OF UNITED STATES LEATHER, INC. MESSRS.
FARIS AND KOE WILL REPORT TO WILLIAM ERBEY, CHAIRMAN AND CEO OF THE COMPANY AND
OCWEN BANK.
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