WEST PALM BEACH, Fla., April 2, 2001 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a subsidiary of Ocwen Financial Corporation (NYSE:OCN), announced that Arthur D. Ringwald has been named its new Chief Executive Officer. Mr. Ringwald brings extensive executive experience in the mortgage and technology industries. He has served as President and Chief Executive Officer of Ellie Mae and has held several executive positions during his 7-year tenure with Bank of America.
Reporting to Mr. Ringwald will be Tom McCarthy, Senior Vice President, Strategic Alliances, Sales and Marketing; Sandy Hanna, Group Executive REALTrans; Jim Laughlin, Group Executive REAL-e; Terri Doerschuck, Group Executive Consulting Services; Steve Wood Jr., Group Executive REALSynergy; and Ralph Behmoiras, Vice President Product Development as well as the OTX Finance, Human Resources and Law staff. John Erbey, current Chairman & Chief Executive Officer OTX, will continue in his role as Chairman of the Company. Mr. Erbey stated, "We are very excited to have a person with Mr. Ringwald's experience and stature in the mortgage industry to assume this critical leadership role with the Company. I am confident that Art will take OTX to the next level."
Chris Skeadas, the President and Chief Operating Officer for OTX, will be leaving to pursue other opportunities. "Chris has made a solid contribution to the company during his tenure, and we wish him the best in his future endeavors," said Mr. Erbey.
OTX 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. Additional information about OTX is available at www.otx.com.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Fla. 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.