UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Origen Financial, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
68619E208
(CUSIP Number)
Brian F. Corey
GTH LLC
1100 Landmark Towers
345 St. Peter Street
Saint Paul, Minnesota 55102
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Rosalind Fahey Kruse
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019-6099
April 30, 2008
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box: [ ]
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 240.13d-7
for other parties to whom copies are to be sent.
* 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 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).
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
GTH LLC
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
----------- --------------------------------------------------------------------
-1-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-2-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners Strategic, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-3-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners SBS, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-4-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners AIV II, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-5-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners Strategic AIV II, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-6-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners AIV III, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-7-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Capital Partners Strategic AIV III, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-8-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge Associates, L.P.
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
----------- --------------------------------------------------------------------
-9-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Centerbridge GP Investors, LLC
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
----------- --------------------------------------------------------------------
-10-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Jeffrey H. Aronson
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
----------- --------------------------------------------------------------------
-11-
|
SCHEDULE 13D
-----------------------------------
CUSIP No. 68619E208
-----------------------------------
----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Mark T. Gallogly
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 7,930,322
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,930,322
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.4%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
----------- --------------------------------------------------------------------
-12-
|
This Schedule 13D is being filed on behalf of GTH LLC, a Delaware limited
liability company ("GTH"), Centerbridge Capital Partners, L.P., a Delaware
limited partnership ("CCPLP"), Centerbridge Capital Partners Strategic, L.P., a
Delaware limited partnership ("CCP Strategic"), Centerbridge Capital Partners
SBS, L.P., a Delaware limited partnership ("CCP SBS"), Centerbridge Capital
Partners AIV II, L.P., a Delaware limited partnership ("CCP AIV II"),
Centerbridge Capital Partners Strategic AIV II, L.P., a Delaware limited
partnership ("CCP Strategic AIV II"), Centerbridge Capital Partners AIV III,
L.P., a Delaware limited partnership ("CCP AIV III"), Centerbridge Capital
Partners Strategic AIV III, L.P., a Delaware limited partnership ("CCP Strategic
AIV III", together with CCPLP, CCP Strategic, CCP SBS, CCP AIV II, CCP Strategic
AIV II, CCP AIV III, the "Centerbridge Funds"), Centerbridge Associates, L.P., a
Delaware limited partnership, in its capacity as general partner of the
Centerbridge Funds, Centerbridge GP Investors, LLC, a Delaware limited liability
company, in its capacity as general partner of Centerbridge Associates, L.P.,
Mr. Jeffrey H. Aronson and Mr. Mark T. Gallogly with respect to shares of Common
Stock (as defined in Item 1) that might be deemed beneficially owned by each of
them.
GTH, CCPLP, CCP Strategic, CCP SBS, CCP AIV II, CCP Strategic AIV II, CCP
AIV III, CCP Strategic AIV III, Centerbridge Associates, L.P., Centerbridge GP
Investors, LLC, Mr. Jeffrey H. Aronson and Mr. Mark T. Gallogly are herein
collectively referred to as the "Reporting Persons."
The Reporting Persons are making this single joint filing pursuant to Rule
13(d)-1(k)(1) of the Securities Exchange Act of 1934, as amended. The agreement
among the Reporting Persons to file jointly is attached hereto as Exhibit D.
Certain information contained in this Schedule 13D relates to the ownership
of Common Stock by persons other than the Reporting Persons. The Reporting
Persons expressly disclaim any liability for any such information and for any
other information provided in this Schedule 13D that does not expressly pertain
to the Reporting Persons.
Item 1. Security and the Issuer
This Schedule 13D relates to the shares of common stock, $0.01 par value
per share (the "Common Stock"), of Origen Financial, Inc., a Delaware
corporation (the "Issuer"). The principal executive office of the Issuer is
located at 27777 Franklin Road, Suite 1700, Southfield, Michigan 48034.
Item 2. Identity and Background
(a) This Schedule 13D is filed by:
(i) CCPLP with respect to shares of Common Stock directly beneficially
owned by GTH;
(ii) CCP Strategic with respect to shares of Common Stock directly
beneficially owned by GTH;
-13-
(iii) CCP SBS with respect to shares of Common Stock directly
beneficially owned by GTH;
(iv) CCP AIV II with respect to shares of Common Stock directly
beneficially owned by GTH;
(v) CCP Strategic AIV II with respect to shares of Common Stock
directly beneficially owned by GTH;
(vi) CCP AIV III with respect to shares of Common Stock directly
beneficially owned by GTH;
(vii) CCP Strategic AIV III with respect to shares of Common Stock
directly beneficially owned by GTH;
(viii) GTH with respect to shares of Common Stock directly
beneficially owned by GTH;
(ix) Centerbridge Associates, L.P., in its capacity as general partner
of the Centerbridge Funds;
(x) Centerbridge GP Investors, LLC, in its capacity as the general
partner of Centerbridge Associates, L.P.;
(xi) Mr. Jeffrey H. Aronson with respect to shares of Common Stock
beneficially owned by the Centerbridge Funds, Centerbridge Associates,
L.P., Centerbridge GP Investors, LLC and GTH; and
(xii) Mr. Mark T. Gallogly with respect to shares of Common Stock
beneficially owned by the Centerbridge Funds, Centerbridge Associate, L.P.,
Centerbridge GP Investors, LLC and GTH.(.)
(b) The address of the principal business office of (i) each of the
Centerbridge Funds, Centerbridge Associates, L.P., Centerbridge GP Investors,
LLC, Mr. Jeffrey H. Aronson and Mr. Mark T. Gallogly is 375 Park Avenue, 12th
Floor, New York, New York 10152 and (ii) GTH is 1100 Landmark Towers, 345 St.
Peter Street, Saint Paul, Minnesota 55102.
(c) The principal business of each of CCPLP, CCP Strategic, CCP SBS, CCP
AIV II, CCP Strategic AIV II, CCP AIV III and CCP Strategic AIV III is investing
in securities and committing capital to facilitate corporate restructurings and
making other investments. The principal business of GTH is to serve as a holding
company for a loan servicing business and other related businesses. Centerbridge
Associates, L.P. is the sole general partner of the Centerbridge Funds and its
principal business consists of performing the functions of, and serving as, the
sole general partner of the Centerbridge Funds. Centerbridge GP Investors, LLC
is the sole general partner of Centerbridge
-14-
Associates, L.P. and its principal business consists of performing the functions
of, and serving as, the sole general partner of Centerbridge Associates, L.P.
Mr. Jeffrey H. Aronson and Mr. Mark T. Gallogly are the managing members (the
"Managing Members") and controlling persons of Centerbridge GP Investors, LLC.
The principal occupation of each of the Managing Members is serving as a
managing member or executive officer of Centerbridge GP Investors, LLC,
Centerbridge Associates, L.P., the Centerbridge Funds and their affiliates.
(d) None of the Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons has, during the last five years, been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) Each of CCPLP, CCP Strategic, CCP SBS, CCP AIV II, CCP Strategic AIV
II, CCP AIV III, CCP Strategic AIV III, and Centerbridge Associates, L.P. are
Delaware limited partnerships. GTH and Centerbridge GP Investors, LLC are
Delaware limited liability companies, Mr. Jeffrey H. Aronson and Mr. Mark T.
Gallogly are United States Citizens.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable. The Reporting Persons have not purchased or acquired the
Common Stock subject to this Schedule 13D. As discussed in Item 4, the Reporting
Persons might be deemed beneficial owners of the Common Stock subject to this
Schedule 13D due to GTH's right, pursuant to the Proxies (as defined in Item 4),
to designate its president and any of its vice presidents to serve as proxies
for the limited purpose of voting certain securities of the Issuer held by the
Voting Agreement Parties (as defined in Item 4) as provided in such Proxies.
Item 4. Purpose of Transaction.
On April 30, 2008, Green Tree Servicing LLC, a Delaware limited liability
company and a wholly owned indirect subsidiary of GTH ("GTS"), entered into an
Asset Purchase Agreement (as amended from time to time, the "Purchase
Agreement") with the Issuer, Origen Servicing, Inc., a Delaware corporation and
a wholly owned indirect subsidiary of the Issuer, and Origen Financial L.L.C., a
Delaware limited liability company and a wholly owned direct subsidiary of the
Issuer, providing for, among other things, the purchase by GTS of certain loan
servicing rights and related assets of the Issuer's subsidiaries.
Pursuant to its terms, the Purchase Agreement and the transactions
contemplated thereby are to be submitted to a vote of the Issuer's stockholders.
In connection with the
-15-
Purchase Agreement, GTH entered into a Voting Agreement, dated as of April 30,
2008 (as amended from time to time, the "Voting Agreement"), with certain of the
Issuer's securityholders set forth therein (the "Voting Agreement Parties").
Under the Voting Agreement, among the other things, each Voting Agreement
Party agreed, during the term of the Voting Agreement, to: (i) at any meeting of
stockholders of the Issuer (or in connection with any written consent of such
stockholders), vote the shares of Common Stock beneficially owned by it in favor
of the adoption, approval and consummation of the Purchase Agreement and the
transactions contemplated thereby; (ii) at any meeting of stockholders of the
Issuer (or in connection with any written consent of such stockholders), vote
the shares of Common Stock beneficially owned by it against any competing or
alternative transaction or any other action, matter or agreement that would or
is intended, or could reasonably be expected, to result in a competing or
alternative transaction or a breach of the provisions of the Purchase Agreement
by the Issuer or its applicable subsidiaries; and (iii) grant to GTH a proxy
(each, a "Proxy") over the shares of Common Stock beneficially owned by it,
pursuant to which GTH may designate its president and any of its vice presidents
to serve as proxies for the purpose of voting such shares as described in the
immediately preceding clauses (i) and (ii). Each Voting Agreement Party may vote
the Common Stock beneficially owned by it, and GTH's designated proxies may not
exercise any voting rights of such Common Stock, in respect of any matter not
referred to in such Voting Agreement Party's Proxy. The Voting Agreement and
related Proxies will terminate immediately following the earliest to occur of
(x) the consummation of the transactions contemplated by the Purchase Agreement,
(y) the termination of the Purchase Agreement in accordance with its terms, or
(z) written notice by GTH to the Voting Agreement Parties of the termination of
the Voting Agreement.
As a result of the limited voting rights contemplated by the Proxies, as of
April 30, 2008, the Reporting Persons might be deemed to be the beneficial
owners of 7,930,322 shares of Common Stock that are beneficially owned by the
Voting Agreement Parties, which shares represent approximately 30.4% of the
outstanding shares of Common Stock (based on 26,014,918 shares of Common Stock
issued and outstanding as of February 29, 2008, as reported on the Issuer's
Annual Report on Form 10-K for the year ended December 31, 2008, filed with the
Securities and Exchange Commission on March 17, 2008 (as amended on April 29,
2008, the "Form 10-K"), and assuming that all securities of the Issuer that are
beneficially owned by the Voting Agreement Parties, are subject to the Voting
Agreement and are exercisable or exchangeable for, or convertible into, shares
of Common Stock have been exercised or exchanged for, or converted into, Common
Stock). The Reporting Persons disclaim beneficial ownership of all such shares
of Common Stock that are beneficially owned by the Voting Agreement Parties.
Except as set forth above, the Reporting Persons have no plans or proposals
that relate to or would result in any of the actions described in subparagraphs
(a) through (j) of Item 4 of Schedule 13D.
The descriptions of the Voting Agreement and Proxies contained herein are
qualified in their entirety by reference to the Voting Agreement and the
Proxies. The
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Voting Agreement and a form of the Proxies are attached hereto as
Exhibits B and C, respectively.
Item 5. Interest in Securities of the Issuer.
(a) and (b) As of the date hereof, the aggregate number and percentage of
shares of Common Stock beneficially owned by the Reporting Persons, including
the number of shares of Common Stock as to which each of the Reporting Persons
have sole power to vote or direct the vote, shared power to vote or direct the
vote, sole power to dispose or direct the disposition or shared power to dispose
or direct the disposition, is set forth in the table below:
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
Reporting Person Number Number of Number Number Aggregate of Adjusted Percent of
of Shares with of of Shares Number of Shares
Shares Shared Power Shares Shares Beneficially shares Beneficially
with to Vote with with Owned Outstanding Owned
Sole Sole Shared
Power Power Power to
to Vote to Dispose
Dispose
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
GTH 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCPLP 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP Strategic 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP SBS 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP AIV II 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP Strategic AIV II 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP AIV III 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
CCP Strategic AIV 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
III
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
Centerbridge 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
Associates, L.P.
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
Centerbridge GP 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
Investors, LLC
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
Mr. Jeffrey H. 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
Aronson
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
Mr. Mark T. Gallogly 0(1) 7,930,322(2) 0(3) 0(3) 7,930,322(2) N/A(4) 30.4%(5)
--------------------- --------- --------------- --------- ---------- -------------- -------------- -------------
|
-17-
(1) The Reporting Person does not have sole power to vote or direct
the vote of any shares of Common Stock.
(2) Consists of, in each case, as set forth in Schedule I to the
Voting Agreement: (i) 595,238 shares of Common Stock beneficially
owned by Ronald Klein as of April 30, 2008 (10,000 shares of which are
directly owned by Ronald Klein Revocable Trust u/a/d 2/26/1997), (ii)
5,027,500 shares of Common Stock beneficially owned by Gary Shiffman
as of April 30, 2008 (5,000,000 shares of which are directly owned by
Sun OFI, LLC and beneficially owned by Mr. Shiffman because he is the
manager of Sun OFI, LLC), (iii) 1,782,500 shares of Common Stock
beneficially owned by Paul Halpern as of April 30, 2008 (1,750,000
shares of which are directly owned by Woodward Holding, LLC and
beneficially owned by Mr. Halpern because Mr. Halpern is the manager
of Woodward Holding, LLC), (iv) 52,500 shares of Common Stock
beneficially owned by Richard Rogel as of April 30, 2008, (v) 6,000
shares of Common Stock beneficially owned by Robert Sher as of April
30, 2008, (vi) 27,500 shares of Common Stock beneficially owned by
Michael Wechsler as of April 30, 2008, (vii) 146,724 shares of Common
Stock beneficially owned by J. Peter Scherer as of April 30, 2008,
(viii) 145,597 shares of Common Stock beneficially owned by W.
Anderson Geater, Jr. as of April 30, 2008, (ix) 146,763 shares of
Common Stock beneficially owned by Mark Landschulz as of April 30,
2008, (x) 10,000 shares of Common Stock beneficially owned by Ronald
Klein Revocable Trust u/a/d 2/26/1997 as of April 30, 2008 (which are
beneficially owned by Mr. Klein as set forth in Clause (i) above),
(xi) 5,000,000 shares of Common Stock beneficially owned by Sun OFI,
LLC as of April 30, 2008 (which are beneficially owned by Mr. Shiffman
as set forth in Clause (ii) above) and (xii) 1,750,000 shares of
Common Stock beneficially owned by Woodward Holding, LLC as of April
30, 2008 (which are beneficially owned by Mr. Halpern as set forth
under Clause (iii) above). As a result of the Voting Agreement and
Proxies, the Reporting Person shares the power to vote or to direct
the vote of an aggregate 7,930,322 shares of Common Stock that it
might be deemed to beneficially own as of April 30, 2008. The
Reporting Person disclaims beneficial ownership of all such shares of
Common Stock.
(3) The Reporting Person does not have sole or shared power to dispose
or to direct the disposition of any shares of Common Stock it may be
deemed to beneficially own as of April 30, 2008.
(4) Not applicable.
(5) As a result of the Voting Agreement and Proxies, as of April 30,
2008, the Reporting Person might be deemed to be the beneficial owner
of 7,930,322 shares of Common Stock, which would represent
approximately 30.4% of the shares of Common Stock (based on 26,014,918
shares of Common Stock issued and outstanding as of February 29, 2008,
as reported on the Form 10-K.
(c) Not applicable.
-18-
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Other than as described herein, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) between the Reporting
Persons and any other person with respect to the securities of the Issuer.
Item 7. Material to be filed as Exhibits.
1. Exhibit A - Asset Purchase Agreement, dated as of April 30, 2008, by and
among Origen Financial, Inc., Origen Servicing, Inc., Origen Financial
L.L.C. and Green Tree Servicing LLC (incorporated by reference to Exhibit
10.1 to the Current Report on Form 8-K of Origen Financial, Inc., filed
with the Securities and Exchange Commission on May 5, 2008).
2. Exhibit B - Voting Agreement, dated as of April 30, 2008, by and among GTH
LLC and the persons set forth therein (incorporated by reference to Exhibit
10.2 to the Current Report on Form 8-K of Origen Financial, Inc., filed
with the Securities and Exchange Commission on May 5, 2008).
3. Exhibit C - Form of Proxy executed by each party to the Voting Agreement
(other than GTH LLC) (incorporated by reference to Exhibit A to Exhibit
10.2 to the Current Report on Form 8-K of Origen Financial, Inc., filed
with the Securities and Exchange Commission on May 5, 2008).
4. Exhibit D - Joint Filing Agreement, dated as of May 12, 2008, by and among
the Reporting Persons.
-19-
SIGNATURES
After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each of the undersigned, severally and not jointly,
certifies that the information set forth in this statement is true, complete and
correct.
Dated: May 12, 2008
GTH LLC CENTERBRIDGE CAPITAL PARTNERS, L.P.
By: Centerbridge Associates, L.P.,
its General Partner
By: Centerbridge GP Investors, LLC,
its General Partner
By: /s/ Brian F. Corey By: /s/ Lance N. West
----------------------------------- -------------------------
Name: Brian F. Corey Name: Lance N. West
Title: Senior Vice President, Title: Senior Managing Director
General Counsel and Secretary
CENTERBRIDGE CAPITAL PARTNERS SBS, L.P. CENTERBRIDGE CAPITAL PARTNERS AIV II, L.P.
By: Centerbridge Associates, L.P., By: Centerbridge Associates, L.P.,
its General Partner its General Partner
By: Centerbridge GP Investors, LLC, By: Centerbridge GP Investors, LLC,
its General Partner its General Partner
By: /s/ Lance N. West By: /s/ Lance N. West
----------------------------------- -------------------------
Name: Lance N. West Name: Lance N. West
Title: Senior Managing Director Title: Senior Managing Director
CENTERBRIDGE CAPITAL PARTNERS STRATEGIC AIV II, L.P. CENTERBRIDGE CAPITAL PARTNERS, AIV III, L.P.
By: Centerbridge Associates, L.P., By: Centerbridge Associates, L.P.,
its General Partner its General Partner
By: Centerbridge GP Investors, LLC, By: Centerbridge GP Investors, LLC,
its General Partner its General Partner
By: /s/ Lance N. West By: /s/ Lance N. West
----------------------------------- -------------------------
Name: Lance N. West Name: Lance N. West
Title: Senior Managing Director Title: Senior Managing Director
|
CENTERBRIDGE CAPITAL PARTNERS STRATEGIC AIV III, L.P. CENTERBRIDGE CAPITAL PARTNERS STRATEGIC, L.P.
By: Centerbridge Associates, L.P., By: Centerbridge Associates, L.P.,
its General Partner its General Partner
By: Centerbridge GP Investors, LLC, By: Centerbridge GP Investors, LLC,
its General Partner its General Partner
By: /s/ Lance N. West By: /s/ Lance N. West
----------------------------------- -------------------------
Name: Lance N. West Name: Lance N. West
Title: Senior Managing Director Title: Senior Managing Director
CENTERBRIDGE ASSOCIATES, L.P. CENTERBRIDGE GP INVESTORS, LLC
By: Centerbridge GP Investors, LLC,
its General Partner
By: /s/ Jeffrey H. Aronson By: /s/ Jeffrey H. Aronson
----------------------------------- -------------------------
Name: Jeffrey H. Aronson Name: Jeffrey H. Aronson
Title: Managing Director Title: Managing Director
By: /s/ Jeffrey H. Aronson
--------------------------- By: /s/ Mark T. Gallogly
Name: Jeffrey H. Aronson --------------------------
Name: Mark T. Gallogly
|
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