Owcen Financial Corp., a finance company that specializes in turning around nonperforming mortgage loans, will be offering additional stock and securities.

The company announc-ed Wednesday that it would file with the Securities and Exchange Commission to offer three million shares of common stock and $125 million of trust-preferred capital securities, the latter through its business trust Ocwen Capital Trust I.

Ocwen, based in West Palm Beach, Fla., will use the additional capital to purchase loans, a spokeswoman said.

Lehman Brothers, Friedman Billings Ramsey & Co., and Morgan Stanley, Dean Witter will underwrite the offerings.

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