Ocwen Technology Xchange Announces Automated Employment and Income Verification Services


WEST PALM BEACH, Fla., June 13, 2001 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a subsidiary of Ocwen Financial Corporation (NYSE:OCN), announced today an agreement with TALX Corporation (Nasdaq:TALX) that will provide automated employment and income verification services to the users of OTX's REALTrans(sm) platform.

The REALTrans application is a Web-based e-commerce solution that facilitates the electronic ordering of real estate products and services. REALTrans enables users to order products and services from their desktop, for individual loans or entire portfolios, receive confirmation of all orders, view the status of all orders and provide virtual document imaging and task-based management. The key to REALTrans is data storage and the ability to provide transactional data, not just image attachments.

Now, REALTrans users will have access to reliable employment and income data in real time. This is accomplished through an interface with TALX Corporation's employment and income verification service known as The Work Number(r). "The addition of The Work Number service to REALTrans marks an important step in the continuing evolution of the REALTrans platform. This alliance will further support our goal of the Virtual Loan File," said Art Ringwald, President and Chief Executive Officer for OTX.

TALX Corporation also views the alliance as a synergistic opportunity. "We are pleased to include The Work Number automated verification service on the REALTrans platform. This alliance fits well with our goal of helping the mortgage industry cut costs and gain efficiency through automation while maintaining the confidentiality of our employee records," said Greg Greer, manager of business development for The Work Number.

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. In addition to OTX, the Company's primary business is the servicing and special servicing of nonconforming, subperforming and nonperforming residential and commercial mortgage loans. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.

TALX Corporation is a leading application service provider (ASP) of HR, benefits and payroll employee services. The Work Number is America's leading employment and income verification service with over 45 million employee records. TALX services empower employees to complete transactions independently via the Internet, corporate portals, Intranets and the telephone. Based in St. Louis, MO, TALX Corporation's common stock trades on the Nasdaq Stock Market(r) under the symbol TALX. For more information call 1-800-888-8277 or visit www.talx.com.



            

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