EXHIBIT 12.1

OCWEN FINANCIAL CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	2013		2012		2011		2010		2009
	(As Restated)(5)
Earnings:
Income from continuing operations before income taxes (1)	$	350,957	$	257,394	$	123,741	$	37,783	$	96,194
Add:
Interest expensed and capitalized	395,586		223,455		132,770		85,923		62,954
Interest component of rental expense	9,102		4,883		1,854		4,101		2,100
Total fixed charges (2)	404,688		228,338		134,624		90,024		65,054
Earnings available to cover fixed charges	$	755,645	$	485,732	$	258,365	$	127,807	$	161,248
Preferred dividend requirements	$	12,020	$	146	$	—	$	—	$	—
Ratio of pretax income to net income (3)	1.14		1.42		1.57		1.17		(27.30		)
Preferred dividend factor	13,703		207		—		—		—
Total fixed charges	404,688		228,338		134,624		90,024		65,054
Combined fixed charges and preferred dividends	$	418,391	$	228,545	$	134,624	$	90,024	$	65,054
Ratio of earnings to combined fixed charges and preferred dividends (4)	1.81		2.13		1.92		1.42		2.48

(1) Excludes income or loss from equity investees but includes any distributions received representing a return on capital.

(2) Fixed charges represent total interest expensed and capitalized, including and excluding interest on deposits, amortization of capitalized debt expenses as well as the interest component of rental expense.

(3) The ratio of pretax income to net income is determined by dividing income from continuing operations before income taxes by net income from continuing operations.

(4) The ratios of earnings to combined fixed charges and preferred dividends were computed by dividing (x) income from continuing operations before income taxes plus fixed charges by (y) combined fixed charges and preferred dividends.

(5) See the Explanatory Note to the 10-K/A for the fiscal year ended December 31, 2013.