EXHIBIT 99.1
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[GRAPHIC OMITTED]
OCWEN
Ocwen Financial
Corporation(R)
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FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
Xxxxxxx X. Xxxxx
X: (000) 000-0000
E: Xxxxxxx.Xxxxx@Xxxxx.xxx
OCWEN FINANCIAL CORPORATION
NAMES NEW CHIEF ACCOUNTING OFFICER
WEST PALM BEACH, Fla. (November 1, 2006) -- Ocwen Financial Corporation
(NYSE:OCN) today announced that Xxxxxx X. Xxxxx, Xx., the company's Senior Vice
President and Chief Accounting Officer, resigned from his position as Chief
Accounting Officer effective October 31, 2006 and will retire from the company
at the end of January 2007. Xx. Xxxxx has been with the company since March 1999
and will assist in the transition of his responsibilities to his successor until
his retirement becomes effective on January 31, 2007.
The company also announced the hiring of Xxxxxx X. X'Xxxxx as Vice President and
Chief Accounting Officer effective November 1, 2006. Xx. X'Xxxxx has over 14
years of finance and accounting experience, including financial and
controllership positions with First Data Corp., Beazer Homes USA, Inc. and RBS
Xxxx, Inc. Prior, he was an Audit Senior at Deloitte & Touche in Atlanta,
Georgia. He obtained his BBA and MPA degrees from Georgia State University.
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, Downers Grove, 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 xxx.xxxxx.xxx.
