EXHIBIT 12.1

OCWEN FINANCIAL CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

	2013		2012		2011		2010		2009
Earnings:
Income from continuing operations before income taxes (1)	$	333,700	$	257,394	$	123,741	$	37,783	$	96,194
Add:
Interest expensed and capitalized, except interest on deposits and amortization of capitalized debt expenses	404,093		221,215		131,376		85,001		62,541
Interest on deposits	8,749		2,238		1,390		918		572
Interest component of rental expense	9,102		4,883		1,854		4,101		2,100
Total fixed charges (2)	421,944		228,336		134,620		90,020		65,213
Earnings for computation purposes	$	755,644	$	485,730	$	258,361	$	127,803	$	161,407
Ratio of earnings to fixed charges:
Including interest on deposits (3)	1.79		2.13		1.92		1.42		2.48
Excluding interest on deposits (3)	1.83		2.15		1.94		1.43		2.50

(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 ratios of earnings to fixed charges were computed by dividing (x) income from continuing operations before income taxes plus fixed charges by (y) fixed charges.