WEST PALM BEACH, Fla., May 17, 2002 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN), announced that the Shareholders reelected William C. Erbey, Thomas F. Lewis, W. C. Martin and Barry N. Wish and that William H. Lacy and Herbert B (Herb) Tasker were elected by the Board to a one year term on the Board of Directors of the Company on May 16, 2002.
Mr. Lacy was formerly Chairman of Mortgage Guaranty Insurance Corporation and Chairman and Chief Executive Officer of MGIC Investment Corporation, Milwaukee, Wisconsin. Both corporations are providers of private mortgage guarantee insurance and other mortgage related services. Mr. Lacy also is a Director of C2, Inc. and of Johnson Controls, Inc.
Mr. Tasker is currently Vice Chairman and Managing Director of Centre Capital. He also serves on the board of First American Title Company and the Board of Trustees of the University of San Diego. He is a former President of the Mortgage Bankers Association of America, the California Mortgage Bankers Association and the Southern California Mortgage Bankers.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Florida. The Company's primary business is the servicing and special servicing of nonconforming, subperforming and nonperforming residential and commercial mortgage loans. Ocwen also specializes in the development of related loan servicing technology and software for the mortgage and real estate industries. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.