WEST PALM BEACH, Fla., April 4, 2001 (PRIMEZONE) -- Ocwen Technology Xchange, Inc. (OTX), a subsidiary of Ocwen Financial Corporation (NYSE:OCN), announced today that it will host the May Mortgage Industry Standard Maintenance Organization (MISMO) Work Group Meetings.
The meetings will be held from May 14 to May 18 at the Delray Beach Marriott located in Delray Beach, Fla. These meetings will address a range of issues from defining eClosing standards to best practices and procedures for existing standards. "We are happy to participate in the development of the standards that will change the industry," said John Erbey, Chairman of OTX. "Our hosting of these meetings is a continuation of our support for MISMO."
MISMO was formed by the Mortgage Bankers Association of America to develop XML standards for the mortgage industry. The participants in MISMO are a who's who of the mortgage industry. More information can be obtained about MISMO by visiting their web site at www.mismo.org.
OTX 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. Additional information about OTX is available at www.otx.com.
Ocwen Financial Corporation is a financial services company headquartered in West Palm Beach. In addition to OTX, the Company's primary business is the servicing and special servicing of nonconforming, subperforming and nonperforming residential and commercial mortgage loans. Additional information about Ocwen Financial Corporation is available at www.ocwen.com.