Ocwen Financial Corp. Presents at Wells Fargo Specialty Finance Conference, May-16-2013 . Venue: InterContinental Times Square, New York, New York, United States.

The Board of Directors of Ocwen Financial Corp. approved amendments to Article IV, Section 4.1 of the company’s bylaws, effective May 8, 2013, to provide that the company is not required to have a Treasurer, permit an officer to execute, acknowledge or verify an instrument in more than one capacity and permit the Board of Directors to delegate authority to appoint senior vice presidents and officers holding subordinate rankings (including, without limitation, a Treasurer) to any officers of the company.

Ocwen Financial Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $406,659,000 against $164,546,000 a year ago. Income from operations was $163,133,000 against $78,419,000 a year ago. Income before income taxes was $51,335,000 against $30,119,000 a year ago. Net income attributable to common stockholders was $42,576,000 or $0.31 per diluted share against $19,349,000 or $0.14 per diluted share a year ago. Normalized pre-tax earnings were $101,400,000, a 90% increase over normalized pre-tax earnings in the first quarter of 2011. The company generated adjusted cash-flow from operations of $265,800,000. The company generated cash flow from operations of $401,900,000.