SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
OCWEN FINANCIAL CORPORATION
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(NAME OF ISSUER)
COMMON STOCK, $0.01 PAR VALUE PER SHARE
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(TITLE OF CLASS OF SECURITIES)
675746 10 1
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(CUSIP NUMBER)
Barry N. Wish
1675 Palm Beach Lakes Boulevard
West Palm Beach, Florida 33401
(561) 681-8000
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(NAME, ADDRESS, TELEPHONE NUMBER OF PERSONS
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
February 2, 1998
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(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Page 1 of 9 Pages
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CUSIP No. 675746 10 1 13D Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Barry N. Wish
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, SC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 2,004
PERSON WITH -------------------------------------------------------
8 SHARED VOTING POWER
9,370,245
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9 SOLE DISPOSITIVE POWER
2,004
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10 SHARED DISPOSITIVE POWER
9,370,245
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,372,249
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.5%
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14 TYPE OF REPORTING PERSON*
IN
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CUSIP No. 675746 10 1 13D Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Wishco, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH ----------------------------------------------------------
8 SHARED VOTING POWER
8,878,305
----------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
8,878,305
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,878,305
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.7%
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14 TYPE OF REPORTING PERSON*
CO
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CUSIP No. 675746 10 1 13D Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BNW Partners
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH -------------------------------------------------------
8 SHARED VOTING POWER
351,940
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
351,940
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
351,940
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
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14 TYPE OF REPORTING PERSON*
P
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<PAGE>
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CUSIP No. 675746 10 1 13D Page 5 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BNW, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH ------------------------------------------------------
8 SHARED VOTING POWER
351,940
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
351,940
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
351,940
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
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14 TYPE OF REPORTING PERSON*
CO
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CUSIP No. 675746 10 1 13D Page 6 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Barry Wish Family Foundation, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO [ ]
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH ------------------------------------------------------
8 SHARED VOTING POWER
140,000
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
140,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
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14 TYPE OF REPORTING PERSON*
CO
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CUSIP No. 675746 10 1 13D Page 7 of 9 Pages
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ITEM 1. SECURITY AND ISSUER
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The securities as to which this Amendment No.1 to Schedule 13D
("Schedule") relate are the shares of common stock, $0.01 par value per share
("Common Stock"), of Ocwen Financial Corporation (the "Issuer"). The address of
the Issuer's principal executive office is 1675 Palm Beach Lakes Boulevard, West
Palm Beach, Florida 33401.
ITEM 2. IDENTITY AND BACKGROUND
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This Schedule is filed by Barry N. Wish, Wishco, Inc., a Delaware
corporation controlled by Mr. Wish pursuant to his ownership of 93.0% of the
common stock thereto ("Wishco"), BNW Partners, a Delaware partnership of which
the partners are Mr. Wish and BNW, Inc., a Delaware corporation wholly owned by
Mr. Wish, and the Barry Wish Family Foundation, Inc., a charitable foundation of
which Mr. Wish is a director ("Foundation") (collectively, the "Reporting
Persons").
Mr. Wish's business address is 1675 Palm Beach Lakes Boulevard, West
Palm Beach, Florida 33401. The address of Wishco, BNW Partners and BNW, Inc. is
c/o Simon Masters Sidlow, 2002 West 14th Street, Wilmington, Delaware 19806 and
the address of the Foundation is 115 Via La Sclva, Palm Beach, Florida 33480.
Mr. Wish is the Chairman, Emeritus and a director of the Issuer. Wishco
is a holding company. BNW Partners is a general partnership formed for the
investment of securities and BNW, Inc. is an S corporation formed for the
investment of securities. The Foundation is a charitable foundation which makes
gifts to a wide variety of charities.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
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(a) As of December 31, 1997, 60,565,835 shares of Common Stock were
outstanding. All share amounts in this Schedule have been adjusted for a
two-for-one stock split of the Common Stock in November 1997.
Mr. Wish beneficially owns 9,372,249 shares of Common Stock of the
Issuer which represents approximately 15.5% of the outstanding shares of Common
Stock. Such amount includes 2,004 shares which are held directly by Mr. Wish for
which he has sole voting and dispositive power, 8,878,305 shares held by Wishco,
with whom Mr. Wish shares voting and dispositive power, 351,940 held by BNW
Partners, with whom Mr. Wish and BNW, Inc. share voting and dispositive power,
and 140,000 shares held by the Foundation, with whom Mr. Wish shares voting and
dispositive power.
Wishco beneficially owns 8,878,305 shares of Common Stock of the Issuer
which represents approximately 14.7% of the outstanding shares of Common Stock.
Wishco shares voting and dispositive power over such shares with Mr. Wish who is
the controlling stockholder of Wishco.
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CUSIP No. 675746 10 1 13D Page 8 of 9 Pages
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BNW Partners beneficially owns 351,940 shares of Common Stock of the
Issuer which represents approximately 0.6% of the outstanding shares of Common
Stock. BNW, Inc. and Mr. Wish share voting and dispositive power over such
shares.
The Foundation beneficially owns 140,000 shares of Common Stock of the
Issuer which represents approximately 0.2% of the outstanding shares of Common
Stock. Mr. Wish as a director of the Foundation shares voting and dispositive
power over such shares.
(c) During the past 60 days, Wishco transferred 200,000 shares of
Common Stock to Bowdoin College by gift on February 2, 1998 and Wishco sold
159,155 shares of Common Stock to the Issuer on January 20, 1998 at $24.42 per
share.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
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The following exhibits are included as exhibits to this Schedule:
The joint filing agreement among the Reporting Persons is included on
the signature page.
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CUSIP No. 675746 10 1 13D Page 9 of 9 Pages
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SIGNATURES
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, the undersigned certify that the information set forth in this
Statement on Schedule 13D is true, complete and correct.
The undersigned hereby agree that this Statement on Schedule 13D filed
on or about this date with respect to the beneficial ownership of shares of
Common Stock of Ocwen Financial Corporation is being filed jointly on behalf of
each of the persons and entities named below.
February 23, 1998
/s/ Barry N. Wish
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Barry N. Wish
WISHCO, INC.
By: /s/ Barry N. Wish
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Barry N. Wish
BNW PARTNERS
By: /s/ Barry N. Wish
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Barry N. Wish
BNW, INC.
By: /s/ Barry N. Wish
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Barry N. Wish
BARRY WISH FAMILY
FOUNDATION, INC.
By: /s/ Barry N. Wish
------------------------
Barry N. Wish
