<ARTICLE>                                            9
<LEGEND>
This  schedule  contains  summary  financial  information  extracted  from Ocwen
Financial  Corporation's  consolidated  statement  of  financial  condition  and
statement  of  operations  and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<RESTATED>
<CIK>                                   0000873860
<NAME>                       Ocwen Financial Corp.
<MULTIPLIER>                                 1,000
<CURRENCY>                                     USD
       
                                                    
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                DEC-31-1996
<PERIOD-START>                                   JAN-01-1996
<PERIOD-END>                                     SEP-30-1996
<EXCHANGE-RATE>                                          1
<CASH>                                               7,278
<INT-BEARING-DEPOSITS>                              17,173
<FED-FUNDS-SOLD>                                   185,000
<TRADING-ASSETS>                                         0
<INVESTMENTS-HELD-FOR-SALE>                        235,305
<INVESTMENTS-CARRYING>                               8,902
<INVESTMENTS-MARKET>                                     0
<LOANS>                                          1,347,983<F1>
<ALLOWANCE>                                         16,200<F2>
<TOTAL-ASSETS>                                   2,200,772
<DEPOSITS>                                       1,650,323
<SHORT-TERM>                                             0
<LIABILITIES-OTHER>                                137,113
<LONG-TERM>                                        240,669
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<COMMON>                                               534
<OTHER-SE>                                         172,133
<TOTAL-LIABILITIES-AND-EQUITY>                   2,200,772
<INTEREST-LOAN>                                    116,755
<INTEREST-INVEST>                                   23,007
<INTEREST-OTHER>                                     3,840
<INTEREST-TOTAL>                                   143,602
<INTEREST-DEPOSIT>                                  68,234
<INTEREST-EXPENSE>                                  82,253
<INTEREST-INCOME-NET>                               61,349
<LOAN-LOSSES>                                       18,839
<SECURITIES-GAINS>                                  17,580
<EXPENSE-OTHER>                                     47,038
<INCOME-PRETAX>                                     27,149
<INCOME-PRE-EXTRAORDINARY>                          25,082
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                        25,082
<EPS-PRIMARY>                                         0.50<F3>
<EPS-DILUTED>                                         0.48<F4>
<YIELD-ACTUAL>                                      12.259
<LOANS-NON>                                        332,352
<LOANS-PAST>                                        50,264
<LOANS-TROUBLED>                                   110,348
<LOANS-PROBLEM>                                          0
<ALLOWANCE-OPEN>                                     2,271
<CHARGE-OFFS>                                        5,875
<RECOVERIES>                                            94
<ALLOWANCE-CLOSE>                                   16,200
<ALLOWANCE-DOMESTIC>                                16,200
<ALLOWANCE-FOREIGN>                                      0
<ALLOWANCE-UNALLOCATED>                                  0
        
<FN>
<F1>  Tag 18 includes  Loans  Available  for sale of $70,248  Loan  Portfolio of
      $369,651 and Discounted Loan Portfolio of $906,084.
<F2>  Tag 19 includes  Allowance for Loan Losses on Loans  Available for Sale of
      $1,196 on Loan  Portfolio of $3,400 and on  Discounted  Loan  Portfolio of
      $11,604.
<F3>  Tag 45  EPS-Primary  has been  restated in  accordance  with SFAS No. 128,
      "Earnings  per Share" and for the  2-for-1  stock  split  approved  by the
      Company's Board of Directors on October 29, 1997.
<F4>  Tag 46  EPS-Diluted  has been  restated in  accordance  with SFAS No. 128,
      "Earnings  per Share" and for the  2-for-1  stock  split  approved  by the
      Company's Board of Directors on October 29, 1997.
</FN>