Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
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 (Month/Day/Year)
06/06/2016
(Street)

CHRISTIANSTED, ST. CROIX, VI 00824		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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               69,805 D  
Common Stock               5,409,704 I By Munus, L.P.
Common Stock (1) 05/25/2016   J   1,000,000 D $ 0 1,000,000 I By Salt Pond Holdings, LLC
Common Stock (1) 05/25/2016   J   1,000,000 A $ 0 9,020,852 I By Tribue Limited Partnership
Common Stock               2,440,000 I By Caritas Partners, LLC

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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) (2) $ 12.1562 12/18/2015   E     1 05/18/2015 12/18/2015 Common Stock 2,500,000 $ 0 0 I By Salt Pond Holdings, LLC
Call Options (obligation to sell) (3) $ 12.1562 05/20/2016   E V   1 05/18/2015 05/20/2016 Common Stock 500,000 $ 0 0 I By Salt Pond Holdings, LLC
Call Options (obligation to sell) (3) $ 13.1692 05/20/2016   E V   1 05/18/2015 05/20/2016 Common Stock 500,000 $ 0 0 I By Salt Pond Holdings, LLC
Call Options (obligation to sell) (4) $ 3 06/06/2016   S     30,000 06/06/2016 01/19/2018 Common Stock 3,000,000 $ 62.5 30,000 I By Tribue Limited Partnership
Call Options (obligation to sell) (4) $ 3 06/06/2016   S     10,000 06/06/2016 01/19/2018 Common Stock 1,000,000 $ 62.5 10,000 I By Tribue Limited Partnership

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   06/08/2016
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) On May 25, 2016, 1,000,000 shares of Ocwen Financial Corp ("Ocwen") were transferred from Salt Pond Holdings, LLC ("Salt Pond") to Tribue Limited Partnership, a U.S. Virgin Islands limited partnership ("Tribue"). This change in the form of Mr. Erbey's beneficial ownership did not change his pecuniary interest in the shares of Ocwen.
(2) On December 18, 2015, a call option previously written by Mr. Erbey via his holdings in Salt Pond expired out of the money.
(3) On May 20, 2016, two call options previously written by Mr. Erbey via his holdings in Salt Pond expired out of the money.
(4) Option transaction entered into by Tribue in which Salt Pond (56.2% of which is owned by Mr. Erbey, 24.5% of which is owned by the Frederiksted Trust, a U.S. Virgin Islands Trust, and 19.3% of which is owned by Erbey Holding Corporation, Inc., a corporation wholly-owned by Mr. Erbey) has a 90% preferred limited partner interest and a 9.9% common limited partner interest and Mr. Erbey has a 0.1% general partner interest.

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