SOUTHFIELD, Mich., March 15, 2012 /PRNewswire/ -- Origen Financial, Inc. (Pink Sheets: ORGN) ("Origen" or the "Company"), a real estate investment trust that manages residual interests in securitized manufactured housing loan portfolios, today announced a net loss of $3.4 million, or $0.13 per share, for the quarter ended December 31, 2011, as compared to a net loss of $5.7 million, or $0.22 per share, for the fourth quarter of 2010, an improvement of approximately 40 percent. For the full year the Company recorded a net loss of approximately $11.8 million, as compared to a net loss of $16.6 million, for the year ago period, an improvement of approximately 29 percent.

On March 14, 2012, Origen's Board of Directors declared a common stock dividend of $0.15 per share to be paid to holders of Origen's common stock of record on March 26, 2012. The dividend will be paid on April 2, 2012 and will approximate $3.9 million. The cash dividend will represent a return of capital.

For the fourth quarter 2011, net interest income before loan losses and impairment increased by approximately 12 percent to $4.6 million from $4.1 million for the fourth quarter 2010. Year to date net interest income before loan losses and impairment decreased by approximately 8 percent to $21.6 million from $23.6 million.

The fourth quarter 2011 provision for loan losses was $6.0 million versus $6.9 million for the prior year quarter, a decrease of approximately 13 percent. The full year 2011 provision for loan losses was $24.1 million as compared to $26.6 million for the year ago period, a decrease of approximately 9 percent.

Non-interest expenses, including $2.2 million of loan servicing expense, were $3.0 million for the fourth quarter 2011, as compared to $3.7 million, including $2.5 million of loan servicing expense, for the year ago quarter, a decrease of approximately 19 percent. Full year 2011 non-interest expenses were $12.9 million, including $9.0 million of loan servicing expense versus the prior year total of $16.0 million, including $10.3 million of loan servicing expense, a reduction of $3.1 million, or approximately 19 percent from the year ago period.

Earnings Call and Webcast

A conference call has been scheduled for Friday, March 16, 2012, at 11:00 a.m. Eastern Time to discuss fourth quarter and full year 2011 results and current operations. The call may be accessed by dialing 877-317-6789 or 412-317-6789. A replay will be available through March 23, 2012 by dialing 877-870-5176 or 858-384-5517 pass code 10011625.

Forward-Looking Statements

This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and Origen intends that such forward-looking statements will be subject to the safe harbors created thereby. The words "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate" and similar expressions identify these forward-looking statements. These forward-looking statements reflect Origen's current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These risks and uncertainties may cause Origen's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the foregoing assumptions and those risks referenced under the headings entitled "Factors That May Affect Future Results" or "Risk Factors" contained in Origen's filings. The forward-looking statements contained in this press release speak only as of the date hereof and Origen expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Origen's expectations or future events.

About Origen Financial, Inc.

Origen is an internally managed and internally advised company that has elected to be taxed as a real estate investment trust. Origen is based in Southfield, Michigan.

For more information about Origen, please visit http://www.origenfinancial.com.

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SOURCE Origen Financial, Inc.

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