Filed Pursuant to Rule 424(b)(3)
Registration No. 333-112520

Prospectus Supplement No. 2
(to Prospectus dated May 5, 2004)

This Prospectus Supplement No. 2 supplements and amends the Prospectus dated May 5, 2004 (the “Prospectus”) relating to the sale from time to time of up to 16,000,000 shares of our common stock by certain selling stockholders.

On August 4, 2004, we filed with the Securities and Exchange Commission the attached Current Report on Form 8-K. The attached information supplements and supersedes, in part, the information contained in the Prospectus.

This Prospectus Supplement No. 2 should be read in conjunction with, and delivered with, the Prospectus and is qualified by reference to the Prospectus except to the extent that the information in this Prospectus Supplement No. 2 supersedes the information contained in the Prospectus.

Our common stock is listed on the Nasdaq National Market under the symbol “ORGN.”

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this Prospectus Supplement No. 2 is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this Prospectus Supplement No. 2 is August 5, 2004.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

FORM 8-K

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: August 3, 2004

ORIGEN FINANCIAL, INC.

27777 Franklin Road
Suite 1700
Southfield, Michigan 48034
(Address of principal executive offices)

(248) 746-7000
(Registrant’s telephone number, including area code)

Table of Contents

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

     On August 3, 2004, Origen Financial, Inc. issued a press release reporting earnings and other financial results for the fiscal quarter ended June 30, 2004. A copy of the press release is attached as Exhibit 99.1.

     The information in this Current Report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

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SIGNATURES

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

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ORIGEN FINANCIAL, INC.
EXHIBIT INDEX

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Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact: W. Anderson Geater
866.4 ORIGEN

Origen Financial Announces Second Quarter Results

     SOUTHFIELD, MI. (August 3, 2004) — Origen Financial, Inc. (“Origen”) (NASDAQ: ORGN), a real estate investment trust that originates and services manufactured home loans, today announced net income of $1.7 million, or $0.08 per share on a fully-diluted basis, for its second quarter ended June 30, 2004, compared with a net loss of $6.5 million by Origen’s predecessor for the second quarter of 2003.

Financial Highlights

Total revenue for the second quarter 2004 increased 68% to $13.3 million versus $7.9 million for the second quarter of 2003. For the second quarter 2004, Origen’s interest income was $10.3 million, as compared to $5.5 million for the second quarter of 2003, an increase of 87%. This increase was primarily attributable to an increase in the owned loan portfolio size from second quarter 2003 to second quarter 2004. Interest expense for the second quarter 2004 was $3.3 million as compared to $4.5 million for the second quarter 2003, despite the fact that average borrowings were greater during the second quarter 2003. The decrease of 27% was attributable to substantially lower average interest rates on borrowings period to period.

Non-interest income totaled $3.0 million for the second quarter 2004 as compared to $2.4 million for the second quarter 2003, an increase of 25%. Such increased income consisted primarily of fees from loan servicing activities.

Non-interest expenses, which include operating expenses and general and administrative expenses, were $6.8 million for the second quarter 2004, compared to $7.4 million for the second quarter of 2003, a decrease of 8%. Such decrease was primarily attributable to a reduction in professional fees between the periods compared.

“We are pleased with our second quarter results,” said Ronald A. Klein, Origen’s Chief Executive Officer. “While industry shipments are down 5% for the year, our origination volume was up significantly at 43% ahead of second quarter 2003 and 37% ahead of first quarter 2004. The credit quality of our loan originations continues to be strong, and our loans continue to perform well. In fact, we began receiving cash flow from our 2004-A securitization a month ahead of schedule, reflecting our higher credit quality. However, we continue to experience higher than originally anticipated delinquencies on our pre-2002 loan originations due to the poorer credit quality of those loans.”

Highlights for the Quarter

Portfolio Performance

Loans 60+ days delinquent were 1.96% of the owned portfolio at June 30, 2004, compared to 2.34% at June 30, 2003. The allowance for general loan losses increased to $4.5 million at June 30, 2004 from $2.9 million at June 30, 2003. Origen charged off $1.2 million to the general loan loss reserve and $1.1 million against the loan recourse reserve for the second quarter 2004. Additionally, Origen made a $1.5 million provision for general loan losses during the quarter. Origen continues to experience lower delinquencies for loans originated in 2002 and later, as compared to loans originated in 2000 and 2001.

Recent Developments

On July 22, 2004 Origen declared a dividend of $0.06 per common share payable to holders of record as of August 2, 2004.

In May 2004, Chase Home Finance-Manufactured Housing (“Chase”) announced they were exiting the manufactured housing lending business. As Chase funded out their pipeline through the end of June, Origen’s volume was negatively impacted. Origen did receive a large increase in loan applications, as many loan sources moved to find a replacement lender for Chase.

Origen hired 10 former Chase associates, the majority of whom started work with Origen on July 6, 2004. Klein said, “While this will impact G&A expense in the short term, as our new associates bring their loan sources on line, we believe their hiring will lead to increased loan originations for the balance of this year. We are thrilled to welcome our newest associates to Origen. They bring with them great skill, professionalism, business relationships and integrity that fits the Origen culture and will mesh well with our existing high quality team. Their decision to join Origen’s team further validates our position as a leader in the manufactured housing industry”.

About Origen

     Origen is an internally managed and internally advised company that has elected to be taxed as a REIT. Based in Southfield, Michigan, with significant operations in Ft. Worth, Texas, Origen is a national consumer manufactured home lender and servicer. It offers a complete line of home only products and land home conforming and non-conforming products. Origen also provides servicing for manufactured home only and land home loans.

     This press release contains forward-looking statements within the meaning of the federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Origen’s control and could materially affect actual results, performance or achievements. Registration statements relating to Origen’s securities have been filed with and declared effective by the Securities and Exchange Commission. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy Origen’s securities. For more information about Origen, visit www.origenfinancial.com.