Current Report Filing (8-k)
February 12 2018 - 7:04AM
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):
February 9, 2018
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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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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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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[ ]
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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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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Otto
J. Kumbar, Executive Vice President, Lending of Ocwen Financial Corporation (collectively with its subsidiaries, Ocwen), ceased
his employment with Ocwen effective February 9, 2018. Ocwen eliminated the role of Executive Vice President, Lending in connection
with the Company’s previously disclosed strategic assessment of its lending business. Mr. Kumbar and the Company entered
into a separation agreement pursuant to which Mr. Kumbar will receive a payment of $1,250,000. Mr. Kumber provided the Company
with a release of claims and agreed to comply with certain non-competition, non-solicitation and other covenants under the separation
agreement.
The
foregoing description of the separation agreement is a summary only and is qualified in its entirety by the full text of the agreement,
which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
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Item
9.01
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Financial
Statements and Exhibits.
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*
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Management
contract or compensatory plan or agreement.
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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.
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OCWEN
FINANCIAL CORPORATION
(Registrant)
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Date:
February 12, 2018
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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
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(On
behalf of the Registrant and as its principal financial officer)
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