Exhibit 12.1
OCWEN FINANCIAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income from continuing operations before income taxes (1) | $ | 123,741 | $ | 37,783 | $ | 96,194 | $ | 44,092 | $ | 49,891 | ||||||||||
| Add: | ||||||||||||||||||||
| Interest expensed and capitalized, except interest on deposits, and amortization of capitalized debt expenses | 131,376 | 85,001 | 62,541 | 86,141 | 75,890 | |||||||||||||||
| Interest on deposits | 1,390 | 918 | 572 | 654 | 917 | |||||||||||||||
| Interest component of rental expense | 1,854 | 4,101 | 2,100 | 2,650 | 2,217 | |||||||||||||||
| Total fixed charges (2) | 134,620 | 90,020 | 65,213 | 89,445 | 79,024 | |||||||||||||||
| Earnings for computation purposes | $ | 258,361 | $ | 127,803 | $ | 161,407 | $ | 133,537 | $ | 128,915 | ||||||||||
| Ratio of earnings to fixed charges: | ||||||||||||||||||||
| Including interest on deposits (3) | 1.92 | 1.42 | 2.48 | 1.49 | 1.63 | |||||||||||||||
| Excluding interest on deposits (3) | 1.93 | 1.42 | 2.49 | 1.50 | 1.64 | |||||||||||||||
| (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. |