Current Report Filing (8-k)
August 16 2016 - 6:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
Current Report
Pursuant to
Section 13 or 15(d) of
the Securities
Exchange Act of 1934
Date of Report
(Date of earliest event reported): August 15, 2016
OCWEN FINANCIAL
CORPORATION
(Exact name
of registrant as specified in its charter)
Florida
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1-13219
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65-0039856
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1661
Worthington Road, Suite 100
West
Palm Beach, Florida 33409
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (561) 682-8000
Not applicable.
(Former name
or former address, if changed since last report)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation
FD Disclosure.
On August 15, 2016, Ocwen Financial Corporation completed the refinancing of its Ocwen Master Advance Receivables
Trust (OMART) servicing advance financing facility.
The new $1.32 billion OMART servicing advance financing facility is comprised of (i) $265 million aggregate principal amount of newly issued two-year fixed rate asset-backed term notes (the Two-Year Notes), (ii) $235 million aggregate principal amount of newly issued three-year fixed rate asset-backed term notes (together with the Two Year Notes, the New Term Notes), (iii) $400 million aggregate principal amount of two-year fixed rate asset-backed term notes issued in November 2015 and (iv) $420 million maximum principal amount of renewed one-year floating rate asset-backed variable funding notes (the VFNs). As part of the refinancing, the maximum principal amount under the VFNs was reduced from $600 million to $420 million and the revolving period was extended through August 2017. The weighted average fixed interest rate on the New Term Notes is 2.874%.
The information contained under Item 7.01 in this Current Report is being furnished and, as a result, such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
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.
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OCWEN
FINANCIAL CORPORATION
(Registrant)
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Date: August 15,
2016
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By:
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/s/ Michael
R. Bourque, Jr.
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Michael R. Bourque, Jr.
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Chief
Financial Officer
(On behalf of the Registrant
and as its principal financial officer)
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