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                     Ocwen: OCN Names President of OTX


Ocwen Financial Corporation

FOR IMMEDIATE RELEASE			
FOR FURTHER INFORMATION, CONTACT:
John R. Erbey 			
Chairman & CEO
Ocwen Technology Xchange, Inc.
T: (561) 682-8517
E: jerbey@ocwen.com


OCWEN FINANCIAL CORPORATION NAMES PRESIDENT OF OCWEN TECHNOLOGY XCHANGE
Accomplished Business Technology Expert to Take the Reins

March 15, 2000  West Palm Beach, FL - Ocwen Financial Corporation
(NYSE:OCN) announced today that it has named Chris Skeadas the new
President and Chief Operating Officer of  its technology unit, Ocwen
Technology Xchange, Inc (OTX).  Mr.Skeadas is an accomplished professional
with extensive experience with technology, as well as in the mortgage and
real estate industries.  

Mr. Skeadas joins OTX from FiNet.com, a publicly-traded, Internet-based,
e-commerce firm, specializing in online mortgages in the direct to consumer
and business to business channels.  At FiNet, Mr. Skeadas served as Chief
Operating Officer and Chief Technology Officer, responsible for all
information technology, including applications development, retail and
wholesale web site development, infrastructure creation, national
operations, vendor management and process engineering.

"We are very pleased to have someone the caliber of Chris Skeadas join our
organization," said John Erbey, Chairman and CEO of Ocwen Technology
Xchange.  "We took our time with this search in order to insure that we
found the right person for this critical position and I'm confident that we
have.  In addition to his experience and depth of knowledge regarding
financial information technology, Chris will bring a new dimension of
dynamic leadership to OTX."

Ocwen Financial Corporation Chairman and CEO, William Erbey added, "Chris
will round out a talented senior management team that includes CEO, John
Erbey, who has nurtured OTX from its infancy; Tom McCarthy, our Senior Vice
President of Strategic Alliances, Sales and Marketing and our four Group
Executives in charge of distinct OTX business units, Sandy Hanna, Jim
Laughlin, Terri Doerschuck and Steve Wood, Jr."

Mr. Skeadas has more than 30 years of financial information technology
experience, with the majority of his work in the mortgage marketplace.  He
has served in a number of executive level information and technology
positions at GMAC Mortgage, Galileo International and Bank of America.  Mr
Skeadas graduated Magna Cum Laude from Columbia University and earned his
M.S. degree from Rensselaer Polytechnic Institute in New York.

Ocwen Financial Corporation is a financial services company headquartered
in West Palm Beach, Florida. The Company's primary businesses are the
acquisition, servicing and resolution of subperforming and nonperforming
residential and commercial mortgage loans. 

Ocwen Technology Xchange, Inc. designs software solutions for mortgage and
real estate transactions, provides business-to-business e-commerce
solutions via the Internet for the mortgage and real estate industries and
also provides implementation, integration and consulting services related
to its software and Internet products.  Additional information about Ocwen
Technology Xchange is available at www.otx.com and Ocwen Financial
Corporation at www.ocwen.com.

End.