April 9, 2010

Internet-Based Tool Proves Valuable in Ocwen's Foreclosure Fight

MortgageKeeper Software Helps More Than 4,000 Ocwen Customers Every Month

WEST PALM BEACH, Fla., April 9, 2010 -- Ocwen Loan Servicing® (NYSE:OCN) announced some early results after three months of using MKDirect, a MortgageKeeper Referral Services product that connects homeowners to high quality nonprofit and government services.

In the last thirty days alone, 4,129 Ocwen customers from 44 states found assistance to their financial problems—problems that were getting in the way of timely loan payments. Many were looking for job training and unemployment assistance, but food assistance and pharmaceutical costs were also big concerns.

"Ocwen makes every effort to keep our customers in their homes," said Ron Faris, president of Ocwen Financial Corporation. "MKDirect is another way to delve into the root causes of a customer's delinquency and solve it."

Ocwen customer service representatives make regular use of the MKDirect data to help customers who directly call Ocwen. Ocwen customers can also log on to Ocwen.com, type in their zip code, and choose from 19 different service categories. They will receive a list of local, well-qualified nonprofits and government agencies ready to help them with their personal and financial needs.

"Ocwen hasn't limited themselves to traditional loan modification strategies. They recognize that unless they learn why a customer is missing payments—and resolve that issue—delinquency will continue," said Rochelle Nawrocki Gorey, president of MortgageKeeper Referral Services. "We are thrilled that MKDirect is making such a difference for Ocwen and their customers."

About Ocwen Financial Corporation

Ocwen Financial Corporation is a leading provider of residential and commercial loan servicing, special servicing and asset management services. Ocwen is headquartered in West Palm Beach, Florida with offices in California, the District of Columbia, Florida and Georgia and support operations in India and Uruguay. Utilizing our global infrastructure, proprietary technology, world-class training and processes, we provide solutions that make our clients' loans worth more. Additional information is available at www.globenewswire.com/newsroom/ctr%3Fd=179443%26l=7%26a=www.Ocwen.com%26u=http%3A%2F%2Fwww.Ocwen.com">www.Ocwen.com.

About MortgageKeeper Referral Services

MortgageKeeper Referral Services connects individuals in financial distress to valuable, reputable, community services. Borrowers with access to outside resources have additional opportunities to cure default, benefiting the homeowner, servicers, and investors. For more information about MKDirect, as well as an online demo of the product, visit www.mortgagekeeperdirect.com

CONTACT:  MortgageKeeper Referral Services
          Rochelle Nawrocki Gorey
          (630) 969-2577
          r.gorey@mortgagekeeperdirect.com
         
          Sommerfield Communications
          Itay Engelman
          (212) 255-8386
          itay@sommerfield.com


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