WEST PALM BEACH, Fla., Dec. 5, 2001 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a subsidiary of Ocwen Financial Corporation (NYSE:OCN), today announced that Herbert B. (Herb) Tasker has joined its Board of Advisors. Mr. Tasker is a former President of the Mortgage Bankers Association of America, as well as a former President of the California Mortgage Bankers Association and President of the Southern California Mortgage Bankers.
Mr. Tasker has formed and sold several mortgage companies, the most significant being Mason McDuffie Mortgage Company, which was sold in 1984 to Weyerhaeuser Mortgage Company, and All Pacific Mortgage Company, which was sold to Inland Mortgage in 1995. Mr. Tasker is currently Vice Chairman and Managing Director of Centre Capital. Mr. Tasker also serves on the board of First American Title Company and the Board of Trustees of the University of San Diego.
"I am certain that technology is key to gaining a competitive advantage in the mortgage business today and in the future. OTX is providing leading technology with its REALTrans(r) and REALServicing(tm) products that give lenders and servicers that edge," said Mr. Tasker.
"We are honored to have someone as distinguished and successful as Herb join our Board of Advisors. I have known Herb personally and professionally for over 20 years, and we look forward to leveraging his insight and experience to the benefit of our customers," said Art Ringwald, President and Chief Executive Officer for OTX. Mr. Tasker joins other mortgage and technology industry leaders on OTX's Board of Advisors, including William Lacey, former Chairman and CEO of Mortgage Guaranty Insurance Corporation, Richard Nastasi, Senior Vice President and e-Business Leader of GE Mortgage Insurance, and W. Michael Linn, Chairman and CEO of the Beacon Productivity Group.
Ocwen Technology Xchange, Inc. provides customer-focused business solutions for the real estate finance industry on a global basis by providing superior business process expertise supported by technology. OTX offers products designed to reduce costs and improve customer satisfaction in residential mortgage origination and servicing, and in commercial mortgage servicing. Additional information about OTX is available at www.otx.com.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach, Florida. 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.