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Press release from GlobeNewswire (a Nasdaq OMX company)

Public Policy, Consumer Relations and Mortgage Finance Expert Joins Ocwen Financial Corporation

Thursday, August 16, 2012

Public Policy, Consumer Relations and Mortgage Finance Expert Joins Ocwen Financial Corporation02:36 EDT Thursday, August 16, 2012WASHINGTON, Aug. 16, 2012 (GLOBE NEWSWIRE) -- Jill A. Showell has joined mortgage servicer Ocwen Financial Corporation (NYSE:OCN) as Senior Vice President for Government and Community Relations. Ms. Showell is a leader in the mortgage finance industry with over 25 years experience in public policy, government relations and consumer outreach. She was most recently Vice President for Government Relations at mortgage insurer PMI Group. She joined PMI in 2004 to establish and manage its relationships with Congress, regulatory agencies, consumer advocacy groups and major housing trade associations. "Ocwen recognizes the critical role that our regulators and lawmakers play in addressing the nation's mortgage crisis. Jill Showell's deep experience at the intersection of public policy, communities and mortgage finance will be instrumental as our servicing business expands and as we continue to develop solutions for homeowners and investors," said Ocwen Executive Vice President and General Counsel Paul A. Koches. Said Ms. Showell, "Ocwen's leading edge technology, analytics, as well as its focus on true collaboration with community groups, have clearly made a real difference for homeowners in distress. I'm delighted to join the Ocwen team to further support government and industry efforts to stabilize the mortgage market." Ms. Showell, who will be based in Ocwen's Washington, D.C. office, spent 12 years spearheading government and Congressional relations at Freddie Mac before joining PMI. She had previously been Legislative Director at the Mortgage Bankers Association and before that served as Senior Legislative Assistant for Congressman Richard H. Lehman. She is a graduate of The George Washington University.About Ocwen Ocwen Financial Corporation is a leading provider of residential and commercial loan servicing, special servicing and asset management services. Ocwen is headquartered in Atlanta, Georgia, with additional offices in West Palm Beach and Orlando, Florida, Houston, Texas, St. Croix, the United States Virgin Islands and Washington, DC, and support operations in India and Uruguay. Utilizing our global infrastructure, proprietary technology, world-class training and processes, we provide solutions that help homeowners and make our clients' loans worth more. Additional information is available at www.Ocwen.com.CONTACT: FOR FURTHER INFORMATION CONTACT: Katarina Wenk-Bodenmiller Sommerfield Communications, Inc. T: (212) 255-8386 E: katarina@sommerfield.com