WEST PALM BEACH, Fla., Nov. 18, 2004 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) announced that its subsidiary Global Servicing Solutions LLC (GSS) has established a Canadian subsidiary, GSS Canada, headquartered in Toronto, and has hired Jacklyn Kendrick and Bob Clarke as Co-General Managers. GSS Canada was formed to provide primary, master and special loan servicing (not origination) functions for the Canadian market.
Ms. Kendrick has more than 15 years of mortgage industry experience and a background in law. Her career has progressed through various levels of responsibility in loan servicing, payment processing, investor remittance and reporting, and default management. Immediately prior to joining GSS Canada, Ms. Kendrick was Vice President, Mortgage Servicing for GMAC Commercial Mortgage of Canada, responsible for all aspects of primary and master servicing for a commercial mortgage backed securities portfolio in excess of CAD$8.0 billion. She graduated from Dalhousie University Law School and is a member of the Law Society of Upper Canada.
Robert (Bob) Clarke brings more than 25 years of industry experience with extensive exposure to all aspects of mortgage administration. He was most recently Director of Mortgage Administration at First National Financial Corporation, in charge of a commercial servicing portfolio of CAD$6 billion, including CAD$800 million of CMBS loans. Prior to that, Mr. Clarke was Vice President, Mortgage Operations for Canada Life Mortgage Services Ltd., where he had overall profitability responsibility for a CAD$4.5 billion mortgage portfolio.
"We are very excited about the opening of our Canadian office, where we are already successfully servicing our first commercial loan portfolio utilizing Ocwen's REALSynergy(r) servicing platform for commercial and multi-family loans. We look forward to bringing our people, processes and technology to our Canadian clients so that we may assist them with the servicing and asset management of their loan and real estate portfolios. Although GSS has extensive global expertise, GSS Canada is managed by Canadian experts who strictly abide by Canadian servicing standards, focusing exclusively on Canadian portfolios," said William B. Shepro, President of GSS. "Ms. Kendrick and Mr. Clarke will be a powerful team, bringing strong backgrounds in servicing, finance and the mortgage industry, which will enhance our operations and opportunities for growth," he added.
GSS was formed in the U.S. in March 2002 to manage the servicing of performing loans, nonperforming loans and real estate in various countries. Its first office, Servicing Solutions Japan, opened in 2002. "Since then, we've opened four other offices throughout the world. We are very pleased with the global expansion of GSS and look forward to its continued success and growth," said William C. Erbey, Chairman and CEO of Ocwen Financial Corporation.
Ocwen Financial Corporation (NYSE:OCN) is a diversified financial services holding company with headquarters in West Palm Beach, Florida, and a presence in Canada, China, Germany, India, Japan and Taiwan. Ocwen Financial Corporation is engaged in a variety of businesses related to residential and commercial mortgage servicing, real estate asset management, asset recovery, global outsourcing, and the marketing and sales of technology solutions to third parties. Ocwen Financial Corporation is a global leader in customer service excellence as a result of our company-wide commitment to quality, integrity and accountability. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.