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FORM 4 OMB Approval
U.S. SECURITIES AND EXCHANGE COMMISSION -------------------------
[ ] Check this box if no longer WASHINGTON, D.C. 20549 OMB Number: 3235-0298
subject to Section 16. Form Expires: September 30, 1998
4 or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Estimated average burden
continue. See Instruction 1(b). hours per response.... 0.5
Filed pursuant to Section 16(a) of the Securities and Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person
to Issuer (Check all applicable)
Reich Christine Allyn Ocwen Financial Corporation (OCN) _____ Director _____ 10% Owner
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(Last) (First) (Middle) 3. IRS or Social 4. Statement for _____ Other (specify below)
Security Number Month/Year
1675 Palm Beach Lakes Boulevard of Reporting 8/98 President
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(Street) 5. If Amendment, 7. Individual or Joint/Group Filing
Date of Original (Check Applicable Line)
(Month/Year) _X_ Form filed by One Reporting Person
___ Form filed by More than One
West Palm Beach FL 33401 Reporting Person
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(City) (State) (Zip) TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Transaction 3. Transaction 4. Securities Acquired(A) 5. Amount of 6.Owner- 7.Nature
(Instr. 3) Date Code or Disposed of (D) Securities ship of
(Month/Day/Year) (Instr. 8) (Instr. 3, 4, and 5) Owned at End Direct Bene-
--------------------------------------- of Month (D) or ficial
Amount (A) Price (Instr. 3 Indirect Owner-
Code V or and 4) (I) ship
(D) (Instr.4)(Instr.4)
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Common Stock 8/10/98 P 5,000 A $19.25 450,300 I By
Partnership
(1)
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2 D
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
(Print or Type Responses) SEC 1474 (8/92)
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FORM 4 (CONTINUED) TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conversion 3. Transaction 4. Transaction 5. Number of 6. Date Exer- 7. Title and Amount
(Instr. 3) or Exercise Date Code Derivative cisable and of Underlying
Price of (Instr. 8) Securities Expiration Date Securities
Derivative (Month/Day/ Acquired (A) (Month/Day/Year) (Instr. 3 and 4)
Security Year) or Disposed
of (D) --------------------------------------
(Instr. 3, Date Expir- Amount or
4, and 5) Exer- ation Title Number of
----------------------------- cisable Date Shares
Code V (A) (D)
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8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Derivative Form of Indirect
Security Securities Derivative Beneficial
(Instr. 5) Beneficially Security; Ownership
Owned at End Direct (D) or (Instr. 4)
of Month Indirect (I)
(Instr. 4) ( Instr. 4)
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Explanation of Responses:
(1) Shares are held by CPR Family Limited Partnership whose general
partner is a corporation wholly owned by the Reporting Person
and her spouse.
/s/ Christine A. Reich 8/11/98
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**Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Christine A. Reich
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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(Print or Type Responses)
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SEC 1474 (3/91)
