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): October 31, 2006

                           OCWEN FINANCIAL CORPORATION
             (Exact name of registrant as specified in its charter)

          Florida                     1-13219                 65-0039856
----------------------------        ------------          ------------------
(State or other jurisdiction        (Commission            (I.R.S. Employer
      of incorporation)             File Number)          Identification No.)

1601 Worthington Road, Suite 100, West Palm Beach, Florida       33409
----------------------------------------------------------     ----------
         (Address of principal executive office)               (Zip Code)

       Registrant's telephone number, including area code: (561) 682-8000

          (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:

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

Item 5.02    Departure and Appointment of Principal Officers.

On October 31, 2006, Robert J. Leist, Jr., the Senior Vice President and Chief
Accounting Officer of Ocwen Financial Corporation, announced his plans to retire
from the company at the end of January 2007 and resigned from his position as
Chief Accounting Officer. He will assist in the transition of his
responsibilities to his successor until his retirement becomes effective on
January 31, 2007.

As of November 1, 2006, Daniel C. O'Keefe, 40, was appointed Vice President and
Chief Accounting Officer of the company. Mr. O'Keefe has over 14 years of
finance and accounting experience, including financial and controllership
positions with First Data Corp., Beazer Homes USA, Inc. and RBS Lynk, Inc.
Prior, he was an Audit Senior at Deloitte & Touche in Atlanta, Georgia. He
obtained his BBA and MPA degrees from Georgia State University.

Item 9.01    Financial Statements and Exhibits

(a)-(b)      Not applicable.

(c)          Exhibits

             The following exhibits are filed as part of this report:

             99.1   Text of a press release by the Registrant dated
                    November 1, 2006.


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                   OCWEN FINANCIAL CORPORATION

                                   By: /s/ WILLIAM C. ERBEY
                                       William C. Erbey, Chief Executive Officer

Date: November 1, 2006