UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             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): January 26, 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.)


            1661 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


                                       N/A
          -------------------------------------------------------------
          (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))

                                   Page 1 of 9
                             Exhibit Index on Page 4


Item 8.01    Other Events

             The news release of the Registrant dated January 26, 2006,
             announcing its fourth quarter and year 2005 results is attached
             hereto and filed herewith as Exhibit 99.1.


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 
                      January 26, 2006.


                                   Page 2 of 9


                                   SIGNATURES


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


                                       OCWEN FINANCIAL CORPORATION
                                       (Registrant)


                                       By: /s/ ROBERT J. LEIST, JR.
                                           -------------------------------------
                                           Robert J. Leist, Jr.
                                           Senior Vice President and
                                           Principal Financial Officer

Date:    January 26, 2006


                                   Page 3 of 9


INDEX TO EXHIBIT


Exhibit No.    Description                                                 Page
-----------    -----------                                                 ----

   99.1        News release of Ocwen Financial Corporation, dated           5
               January 26, 2006, announcing its fourth quarter and
               year 2005 results and certain other information.


                                   Page 4 of 9