UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
OCWEN FINANCIAL CORPORATION
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
675746101
(CUSIP Number)
December 31, 2005
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Continued on following pages
Page 1 of 9 Pages
Page 2 of 9 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
PERRY CORP.
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [ ]
3 SEC Use Only
4 Citizenship or Place of Organization
NEW YORK
5 Sole Voting Power
Number of 3,639,200
Shares
Beneficially 6 Shared Voting Power
Owned By 0
Each
Reporting 7 Sole Dispositive Power
Person 3,639,200
With
8 Shared Dispositive Power
0
9 Aggregate Amount Beneficially Owned by Each Reporting Person
3,639,200
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
[ ]
11 Percent of Class Represented By Amount in Row (9)
5.76%
12 Type of Reporting Person (See Instructions)
IA, CO
Page 3 of 9 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
RICHARD C. PERRY
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [ ]
3 SEC Use Only
4 Citizenship or Place of Organization
UNITED STATES
5 Sole Voting Power
Number of 3,639,200
Shares
Beneficially 6 Shared Voting Power
Owned By 0
Each
Reporting 7 Sole Dispositive Power
Person 3,639,200
With
8 Shared Dispositive Power
0
9 Aggregate Amount Beneficially Owned by Each Reporting Person
3,639,200
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
[ ]
11 Percent of Class Represented By Amount in Row (9)
5.76%
12 Type of Reporting Person (See Instructions)
IN, HC
Page 4 of 9 Pages
Item 1(a) Name of Issuer:
Ocwen Financial Corporation (the "Issuer").
Item 1(b) Address of the Issuer's Principal Executive Offices:
1661 Worthington Road, Suite 100 West Palm Beach, FL 33409
Item 2(a) Name of Person Filing:
This statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Perry Corp.; and
ii) Richard C. Perry, in his capacities as the President and sole
stockholder of Perry Corp. ("Mr. Perry").
This statement relates to Shares (as defined herein) held for the
accounts of two or more private investment funds for which Perry
Corp. acts as general partner and/or managing member of the general
partner and/or investment adviser.
Item 2(b) Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of the Reporting
Persons is 767 Fifth Avenue, New York, New York 10153.
Item 2(c) Citizenship:
1) Perry Corp. is a New York corporation; and
2) Mr. Perry is a citizen of the United States.
Item 2(d) Title of Class of Securities:
Common Stock, $0.01 par value per share (the "Shares").
Item 2(e) CUSIP Number:
675746101
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
i) Perry Corp. is an investment adviser registered under Section 203
of the Investment Advisers Act of 1940.
ii) Mr. Perry is a control person of Perry Corp.
Page 5 of 9 Pages
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned:
As of the Date of Event, each of the Reporting Persons may be deemed
to be the beneficial owner of 3,639,200 Shares.
Item 4(b) Percent of Class:
As of the Date of Event, the number of Shares outstanding was
63,130,177 according to the Issuer's Quarterly Report on Form 10-Q
for the quarter ended September 30, 2005 filed on November 9, 2005.
As of the Date of Event, each of the Reporting Persons may be deemed
to be the beneficial owner of approximately 5.76% of the total number
of Shares outstanding.
Item 4(c) Number of shares as to which such person has:
Perry Corp.
(i) Sole power to vote or direct the vote 3,639,200
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 3,639,200
(iv) Shared power to dispose or to direct the disposition of 0
Mr. Perry
(i) Sole power to vote or direct the vote 3,639,200
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the disposition of 3,639,200
(iv) Shared power to dispose or to direct the disposition of 0
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
The limited partners of (or investors in) each of the private
investment funds for which Perry Corp. acts as general partner and/or
managing member of the general partner and/or investment adviser have
the right to participate in the receipt of dividends from, or
proceeds from the sale of, the securities held for the accounts of
their respective funds in accordance with their respective limited
partnership interest (or investment percentages) in their respective
funds.
Page 6 of 9 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
Perry Corp. is the relevant entity for which Mr. Perry may be
considered a control person.
Perry Corp. is an investment adviser registered under the Investment
Advisers Act of 1940.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that, to the
best of such person's knowledge and belief, the securities referred
to above were acquired and are held in the ordinary course of
business and were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the Issuer
of such securities and were not acquired and are not held in
connection with or as a participant in any transaction having such
purpose or effect.
Page 7 of 9 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: February 10, 2006 PERRY CORP.
By: Richard C. Perry
Title: President
By: /s/ Michael C. Neus
-----------------------------
Michael C. Neus
Attorney-in-Fact
Date: February 10, 2006 RICHARD C. PERRY
By: /s/ Michael C. Neus
----------------------------------
Michael C. Neus
Attorney-in-Fact
Page 8 of 9 Pages
EXHIBIT INDEX
Page No.
A. Joint Filing Agreement, dated as of February 10, 2006, by and 9
among the Reporting Persons........................
Page 9 of 9 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Common Stock, $0.01 par value, of Ocwen Financial Corporation,
dated as of February 10, 2006, is, and any amendments thereto (including
amendments on Schedule 13D) signed by each of the undersigned shall be, filed on
behalf of each of us pursuant to and in accordance with the provisions of Rule
13d-1(k) under the Securities Exchange Act of 1934.
Date: February 10, 2006 PERRY CORP.
By: Richard C. Perry
Title: President
By: /s/ Michael C. Neus
-----------------------------
Michael C. Neus
Attorney-in-Fact
Date: February 10, 2006 RICHARD C. PERRY
By: /s/ Michael C. Neus
----------------------------------
Michael C. Neus
Attorney-in-Fact