WEST PALM BEACH, Fla., Jan. 9, 2001 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) and its subsidiary, Ocwen Technology Xchange, Inc. (OTX), announced today its 5th Annual Strategic Partnership Forum to be held at The Breakers in Palm Beach, Fla. This year's conference will begin on Sunday, January 21 and will conclude on Tuesday, January 23. Scheduled speakers include industry leaders from various organizations such as rating agencies, servicers, lenders, originators, vendors, industry consultants and technology providers.
"We anticipate that this year's conference will be the biggest and most informative yet," said William Erbey, Ocwen Financial Corporation's Chairman and Chief Executive Officer. Mr. Erbey continued, "We have identified topics that are particularly timely in the mortgage and real estate industries and have chosen speakers that are experts in their fields." One such speaker is Frank Raiter, Managing Director of Structured Finance Rating with Standard & Poor's, a division of The McGraw-Hill Companies, Inc. During his presentation, Mr. Raiter will address their new severity model and its impact on securitization levels. Looking forward to the conference, Mr. Raiter stated, "This conference is the highest quality in terms of state-of-the-art technology. Attendees to this conference are going to learn. It's not just a social event -- it is a high level information exchange."
Ocwen Technology Xchange, Inc. will also use the conference as an opportunity to meet with users from all three of its product lines, the REALTrans(SM) platform and well as the REAL-e(TM) and REALSynergy(TM) systems. The user groups will learn about upcoming enhancements to the product lines and will be given the opportunity to provide feedback and direction to OTX management. Further, OTX will announce the grand prizewinner of the REALTrans.com(SM) Contest sweepstakes and will present the keys to a Mercedes-Benz S430.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Fla. The Company's primary businesses are the servicing and resolution of subperforming and nonperforming residential and commercial mortgage loans. Ocwen Technology Xchange, Inc. designs software solutions for mortgage and real estate transactions, provides business-to-business e-commerce solutions via the Internet for the mortgage and real estate industries and also provides implementation, integration and consulting services related to its software and Internet products. Additional information about Ocwen Financial Corporation and Ocwen Technology Xchange, Inc. is available at www.ocwen.com and www.otx.com, respectively.