Ocwen Names Appointee to Board of Directors

In Georgia, ""Ocwen Financial Corporation"":http://www.ocwen.com/ announced that ""WL Ross & Co.'s"":http://www.institutional.invesco.com/portal/site/invescoinst/menuitem.41f20d94768ecd0bf8800610e14bfba0/ chairman and CEO will be joining the Ocwen board of directors.

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Wilbur L. Ross Jr. has served in numerous roles as principal financial adviser, investor, and director in various companies operating in diverse industries around [COLUMN_BREAK]

the world. He currently serves as a director for several publicly traded companies.

Ross had been serving as an Ocwen Board Observer since the company first purchased Homeward Residential Holdings from his own firm in December 2012.

""Before and during my time as an Ocwen Board Observer, I have been impressed with the company's exceptional growth and innovative approach to the mortgage industry,"" Ross said. ""Ocwen's dedication to homeownership preservation appeals to both customers and shareholders alike. I'm proud to be part of a company whose vision aligns so closely to mine and gratified to have found such a fine new home for Homeward Residential.""

""I am delighted that Wilbur Ross has become a member of our Board of Directors. Mr. Ross' significant experience in finance and outstanding track record as an investor will provide excellent insight to our Board to help us achieve our strategic goals,"" said William C. Erbey, Ocwen's executive chairman.