WEST PALM BEACH, Fla., Dec. 15, 2000 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a wholly owned subsidiary of Ocwen Financial Corporation, (NYSE:OCN) today announced the release of REALTrans.com version 2.0. WWW.REALTRANS.COM(tm) is the web site through which users access the REALTrans(SM) e-commerce platform. The REALTrans platform is a leading shared transaction management platform for the mortgage and real estate industries. The web-based application facilitates in real time the electronic ordering, confirmation, tracking and fulfillment of real estate and mortgage products and is designed to save time and money for mortgage originators as well as service providers.
According to Chris Skeadas, OTX President and COO, "The changes incorporated by version 2.0 are designed to provide an entirely new look and feel to the user interface of the web site. Most of the functions of the application will not change." Mr. Skeadas noted that the appearance of the interface will change as will the ways in which customers access and perform day-to-day tasks. REALTrans.com 2.0 will be more user-friendly and will provide an easier, more efficient and consistent work environment. Generally speaking, the changes focus on overall improved ease of use, new work queues, a redesigned navigation panel and the addition of a map utility.
To assist experienced customers in acclimating to the new version, over 100 training sessions have been scheduled. These training sessions will be conducted online allowing customers to participate at their own desks and will last approximately 1-1/2 hours.
Ocwen Technology Xchange, Inc. provides business-to-business e-commerce solutions via the Internet for the mortgage and real estate industries, designs software solutions for mortgage loan origination and servicing and also provides implementation, integration and consulting services related to its software and Internet products.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Florida. In addition to OTX, the Company's primary business is the servicing and resolution of subperforming and nonperforming residential and commercial mortgage loans. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.
Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of the U.S. federal securities laws. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology such as "designed" and "will". Although OCN believes the anticipated results or other expectations reflected in such forward-looking statements are based on reasonable assumptions, actual results could differ materially from those indicated due to risks, uncertainties and changes with respect to a variety of factors, including, but not limited to, unexpected changes in international, national, regional or local economic environments and laws and regulations (including regulatory fees, capital requirements and income and property taxation), competitive products, pricing and conditions (including from competitors that have significantly greater resources than OCN), fulfillment of agreed upon terms and conditions of closing or performance, timing of transaction closings, software integration, development and licensing effectiveness, damage to the Company's computer equipment and the information stored in its data centers, the ability to locate, engage and provide adequate server and network capacity at reasonable rates, other factors generally understood to affect the software and technology industries and the real estate acquisition, mortgage and leasing markets, and other risks detailed from time to time in OCN's reports and filings with the SEC, including periodic reports on Forms 10-Q, 8-K and 10-K and Exhibit 99.1 attached to OCN's Form 10-K for the year ended December 31, 1999.