FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

ERBEY WILLIAM C 		2. Issuer Name and Ticker or Trading Symbol

OCWEN FINANCIAL CORP [ OCN ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

P.O. BOX 25437 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/5/2016
(Street)

CHRISTIANSTED, ST. CROIX, VI 00824
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock                  69805   D    
Common Stock                  7849704   I   By Munus, L.P.  
Common Stock                  1000000   I   By Salt Pond Holdings, LLC  
Common Stock   (1) 12/5/2016     X    200   D $2.50   9020652   I   By Tribue Limited Partnership  
Common Stock   (1) 12/6/2016     X    300   D $2.50   9020352   I   By Tribue Limited Partnership  
Common Stock   (1) 12/6/2016     X    500   D $3.00   9019852   I   By Tribue Limited Partnership  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Call Options (obligation to sell)   (1) $2.50   12/5/2016     X         2    7/20/2016   1/19/2018   Common Stock   200   $0   39998   I   By Tribue Limited Partnership  
Call Options (obligation to sell)   (1) $2.50   12/6/2016     X         3    7/20/2016   1/19/2018   Common Stock   300   $0   39995   I   By Tribue Limited Partnership  
Call Options (obligation to sell)   (1) $3.00   12/6/2016     X         5    4/29/2016   1/20/2017   Common Stock   500   $0   2495   I   By Tribue Limited Partnership  
Membership Unit Interests     (2) 10/27/2016     G     V    1   (2)     (2)   (2) Common Stock   (2)   (2) $0   (2) 0   (2) D    
Membership Unit Interests     (2) 10/27/2016     G     V 1   (2)        (2)   (2) Common Stock   (2)   (2) $0   (2) 0   (2) I   By Christiansted Trust  

Explanation of Responses:
( 1)  On December 5, 2016 and December 6, 2016, call options previously written by Tribue Limited Partnership ("Tribue") were exercised.
( 2)  On October 27, 2016, Mr. Erbey gifted his 56.2% membership unit interests in Salt Pond Holdings, LLC to the Christiansted Trust, a U.S. Virgin Islands trust (the "Trust") in which Mr. Erbey has investment control and for which Mr. Erbey, Mr. and Mrs. Erbey's descendants and charitable organizations are the beneficiaries. No Ocwen shares were transferred as part of the gift and as a result, Mr. Erbey's beneficial ownership in the shares of Ocwen did not change.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
ERBEY WILLIAM C
P.O. BOX 25437
CHRISTIANSTED, ST. CROIX, VI 00824
X


Signatures
/s/ William C. Erbey 12/7/2016
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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