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                  Ocwen: OTX RELEASES SERVICING SOFTWARE


FOR IMMEDIATE RELEASE     
FOR FURTHER INFORMATION 
CONTACT:
Jeff Lucas               
Director of Marketing
T: (561) 682-8847
E: jlucas@ocwen.com     


OCWEN TECHNOLOGY XCHANGE ANNOUNCES THE RELEASE OF 
REALSynergy  SERVICING SOFTWARE
Commercial and Multifamily Loan Servicing Software Offering Scalability and
Advanced Functionality

July 18, 2000 - West Palm Beach, FL - Ocwen Technology Xchange, Inc. (OTX),
a wholly-owned subsidiary of Ocwen Financial Corporation, today announced
the release of the REALSynergy(TM) Loan Servicing System.   Developed by
the Synergy subsidiary of OTX in Nashville, TN, REALSynergy replaces its
DOS-based AMICUS product.  AMICUS is currently one of the most widely used
commercial and multifamily loan servicing systems in the industry.  While
REALSynergy is a new system, it builds upon the success of AMICUS -- adding
a graphical user interface and a 32-bit Windows-based system.  Therefore,
REALSynergy offers multi-tasking, system stability and additional
functionality.  Utilizing multi-tier architecture, the system is designed
to provide scalability for any size organization and can operate as a
thin-client, thick-client -- or as a standalone system.  The application
can run on multiple servers in order to handle user processing as demands
increase.   

The initial release of the REALSynergy system offers several unique
capabilities such as: maintenance of multiple escrow accounts for a single
loan; combinations of multiple loans, borrowers and properties; and robust
custodial banking and cash management including full ACH.  Features
included in this release are task and contact management systems,
customizable drop down lists and extensive use of wizards simplifying the
setup process.   The system also offers user defined forms and reports as
well as powerful ad hoc reporting capabilities through the use of Crystal
Reports(TM).   

OTX is treating the new product as an enhancement, providing REALSynergy to
existing AMICUS users for a modest conversion fee rather than the cost of a
new system.  According to REALSynergy Group Executive, Steve Wood, Jr.,
that decision not only made good business sense by keeping the existing
client base of AMICUS users, but it is also a reflection of the company's
commitment to the commercial and multifamily loan servicing industry.  

"Our software was built around three principles -- ease of use,
affordability, and our in-depth understanding of the commercial loan
serving industry," said Wood.  "When it comes to keeping up with the
changes in technology for this industry, we see ourselves in a leadership
role, looking ahead for the next change and providing the features and
functionality that the market needs." 

In addition to the REALSynergy loan servicing system, OTX is creating
additional products for the commercial loan industry including an ASP model
commercial/multifamily loan origination management platform, a life
insurance company investment accounting system and a construction lending
system.
 
Ocwen Technology Xchange, Inc. provides business-to-business e-commerce
solutions via the Internet for the mortgage and real estate industries,
designs software solutions for mortgage loan origination and servicing and
also provides implementation, integration and consulting services related
to its software and Internet products.  

Ocwen Financial Corporation (NYSE: OCN) is a financial services company
headquartered in West Palm Beach, Florida.  In addition to Ocwen Technology
Xchange, Inc., the Company's primary businesses are the acquisition,
servicing and resolution of subperforming and nonperforming residential and
commercial mortgage loans.  Additional information about Ocwen Financial
Corporation is available at www.ocwen.com.

Certain statements contained herein are not based on historical facts and
are "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Act
of 1934, as amended.  These forward-looking statements may be identified by
reference to a future period(s) or by the use of forward-looking
terminology such as "looking ahead".  Although OCN believes the anticipated
results or other expectations reflected in such forward-looking statements
are based on reasonable assumptions, actual results could differ materially
from those indicated due to risks, uncertainties and changes with respect
to a variety of factors, including, but not limited to, international,
national, regional or local economic environments laws and regulations
affecting financial institutions, real estate investment trusts and real
estate (including regulatory fees, capital requirements and income and
property taxation),  competitive products, pricing and conditions
(including from competitors that have significantly greater resources than
OCN),  software integration, development and licensing,    other factors
generally understood to affect the software industry and real estate
acquisition, mortgage and leasing markets,  and other risks detailed from
time to time in OCN's reports and filings with the SEC, including its
Registration Statements on Forms S-3 and S-4 and periodic reports on Forms
10-Q, 8-K and 10-K, including Exhibit 99.1 attached to OCN's Form 10-Q for
the quarter ended March 31, 2000.

End.