EXHIBIT 12.1

OCWEN FINANCIAL CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	2014			2013		2012		2011		2010
Earnings:
Income (loss) from continuing operations before income taxes (1)	$	(443,226	)	$	350,957	$	257,394	$	123,741	$	37,783
Add:
Interest expensed and capitalized, except interest on deposits and amortization of capitalized debt expenses	541,757			395,586		223,455		132,770		85,923
Interest component of rental expense	6,283			9,102		4,883		1,854		4,101
Total fixed charges (2)	548,040			404,688		228,338		134,624		90,024
Earnings for computation purposes	$	104,814		$	755,645	$	485,732	$	258,365	$	127,807
Preferred dividend requirements	$	2,802		$	12,020	$	145	$	—	$	—
Ratio of pretax income to net income (3)	0.94			1.14		1.42		1.57		1.17
Preferred dividend factor	2,634			13,703		206		—		—
Total fixed charges	548,040			404,688		228,338		134,624		90,024
Combined fixed charges and preferred dividends	$	550,674		$	418,391	$	228,544	$	134,624	$	90,024
Ratio of earnings to combined fixed charges and preferred dividends (4)	(4)			1.81		2.13		1.92		1.42

(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 interest on deposits, amortization of capitalized debt expenses as well as the interest component of rental expense.

(3) 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.

(4) Due to our losses in 2014, the ratio of earnings to fixed charges was less than 1:1. We would have had to generate additional earnings of $443.2 million to achieve coverage of 1:1.