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Ocwen Ranked as a Top Mortgage Banking Industry Outsourcing Vendor by the Black Book of Outsourcing

WEST PALM BEACH, Fla. , April 3, 2007 (PRIME NEWSWIRE) -- Ocwen Financial Corporation , a leading provider of servicing and origination processing solutions to the loan industry, has been ranked as one of the top outsourcing vendors to the mortgage banking industry by The Black Book of Outsourcing. Based on a Q3 2006 survey of 12,755 outsourcing purchasers and 3,340 outsourcing corporate employees, Ocwen was ranked number 2 of all mortgage outsource providers in the world. The survey evaluates each solution provider's demonstrated strength in four survey areas: CEO commitment, human capital performance, corporate direction and leadership impact.

"Mortgage banking outsourcing is growing tremendously, and Ocwen is proving to be a tough contender for the top spot with its brilliant array of products and services coupled with its competent work force," said Douglas Brown, co-author of The Black Book of Outsourcing.

Mickey Linn, Executive Vice President of Sales and Marketing for Ocwen noted, "By publishing focused sub-lists in different outsourcing categories, the authors of The Black Book of Outsourcing are doing a great service to both buyers and sellers of outsourcing services."

"Because it reflects the market's opinion, being one of the top outsourcing vendors in the mortgage banking category holds special importance to Ocwen," Linn added. "We are very proud to have established proprietary best practices in the industry along with leading technology and a strong global workforce, and we focus on continuous improvement in order to ensure the highest quality value-added outsourcing."

About The Black Book of Outsourcing:

The Black Book of Outsourcing is a handy guide that presents an intelligent overview of the costs and benefits of outsourcing, its uses and applications, and the processes used to manage it. Based on Brown and Wilson's (Douglas Brown and Scott Wilson are regarded as industry gurus on the outsourcing and professional consulting space and are the authors of The Black Book of Outsourcing) extensive experience working with dozens of companies on every aspect of outsourcing, this book demonstrates means to deal with outsourcing as an emotional and political issue, and provides a wealth of resources for those who want to build a successful career in the outsourcing industries. For more information, visit www.theblackbookofoutsourcing.com.

About Ocwen Financial Corporation:

Ocwen Financial Corporation is a leading provider of servicing and origination processing solutions to the loan industry with headquarters in West Palm Beach, Florida; offices in Orlando, Florida; Lisle, Illinois and Atlanta, Georgia and global operations in Canada, Germany, India and Taiwan. We make our clients' loans worth more by leveraging our superior processes, innovative technology and high-quality, cost-effective global human resources. Additional information is available at www.ocwen.com.

CONTACT:  Ocwen Financial Corporation
          W. Michael Linn, Executive Vice President
          407-737-5566
          Mickey.Linn@Ocwen.com