WEST PALM BEACH, Flor., Dec. 20, 2000 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a subsidiary of Ocwen Financial Corporation (NYSE:OCN), announced that Dwyer-Curlett & Co. has licensed the REALSynergy(TM) system to automate commercial loan servicing.
The REALSynergy system is the leading multi-family and commercial loan servicing system. The system is a highly automated, full-service platform that is designed to handle virtually any loan structure including complex remittance requirements. "OTX recognizes that Dwyer-Curlett is one of the premier commercial mortgage banking companies in the country and sees it as a valuable addition to our customer list" said Tom McCarthy, Senior Vice President for OTX.
In announcing its selection, Shelley Hasskamp, Partner at Dwyer-Curlett and Manager of Loan Administration stated, "we took a careful look at all available products on the market and selected the REALSynergy system based on its ease of use, comprehensive functionality, long standing reputation and competitive price structure. We spoke with numerous users and heard only excellent comments regarding the company's responsiveness and commitment to customer satisfaction."
Dwyer-Curlett & Co., founded in 1933, is headquartered in Century City, CA and originates and services $1.25 billion in commercial mortgage loans for 12 life insurance companies. The company is ranked 54th in servicing volume in a 1999 year-end survey conducted by the Mortgage Bankers Association of America entitled "Largest 3rd Party Commercial Mortgage Servicers."
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. 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 the fulfillment of agreed upon terms and conditions of closing or performance, timing of transaction closings, software integration, development and licensing effectiveness, 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.