Ocwen Financial Corporation announced that it had amended its senior secured term loan facility agreement. Ocwen's amendments to its senior secured term loan facility agreement will, among other changes: permit repurchases of all of the preferred stock, which may be converted to common stock prior to repurchase, and up to $1.5 billion of common stock, subject, in each case, to pro forma financial covenant compliance; eliminate the dollar cap on junior indebtedness (as defined in the senior secured term loan facility agreement) but retain the requirement for any such issuance to be subject to pro forma covenant compliance; include a value for whole loans (i.e., loans held for sale) in collateral value for purposes of calculating the loan-to-value ratio and include specified deferred servicing fees and the fair value of specified mortgage servicing rights in net worth for purposes of calculating the ratio of consolidated total debt to consolidated tangible net worth; and modify the applicable quarterly covenant levels for the corporate leverage ratio, ratio of consolidated total debt to consolidated tangible net worth and loan-to-value ratio.