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Ocwen Continues As Mortgage Modification Leader In Federal HAMP Program, Posting Fastest Turn Times For Converting Trial Modifications To Permanent Solutions For Homeowners

Mr. Faris added, "Ocwen's success with modifications stems from our over 20-year track record servicing high-risk loans, as well as the firm's proprietary technology that allows us to modify mortgages for distressed homeowners so they're affordable on a sustainable basis while at the same time generating more cash flow to investors than they would get from a foreclosure."  Ocwen has invested over $100 million in R&D to build loan servicing technology that is scalable for high volumes. The firm also cites its reliance on consumer behavioral science research and long-standing partnerships with grass roots consumer advocacy groups as instrumental in enhancing borrower outreach and effective communications.

About Ocwen

Ocwen Financial Corporation is a leading provider of residential and commercial loan servicing, special servicing and asset management services. Ocwen is headquartered in West Palm Beach, Florida with offices in California, the District of Columbia and Georgia and support operations in India and Uruguay. Utilizing proprietary technology and world-class training and processes, we provide solutions that make our clients' loans worth more. Additional information is available at www.ocwen.com .

CONTACT:  Sommerfield Communications
          Itay Engelman
          (212) 255-8386
          itay@sommerfield.com

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