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Ocwen Corrects Earlier Statement in Response to Letter From New York Department of Financial Services

ATLANTA, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN), the nation's largest independent mortgage servicer, today issued the following update to its earlier statement addressing a letter it received from the New York Department of Financial Services ("DFS") related to erroneously dated borrower correspondence:

"Ocwen wishes to correct its statement in a press release earlier today that 283 borrowers in New York received letters with incorrect dates. Ocwen is aware of additional borrowers in New York who received letters with incorrect dates but does not yet know how many such letters there were. Ocwen is continuing its investigation into these matters. We are working with and fully cooperating with DFS and the Monitor to address their concerns."

About Ocwen Financial Corporation

Ocwen Financial Corporation is a financial services holding company which, through its subsidiaries, is engaged in the servicing and origination of mortgage loans. Ocwen is headquartered in Atlanta, Georgia, and has additional offices and operations in California, Florida, Iowa, New Jersey, Pennsylvania, Texas, the United States Virgin Islands, Washington, DC, India and Uruguay. Utilizing proprietary technology, global infrastructure and world-class training and processes, we provide solutions that help homeowners and make our clients' loans worth more. Additional information is available at www.Ocwen.com.

CONTACT: FOR FURTHER INFORMATION CONTACT: Margaret Popper or David Millar Sard Verbinnen & Co 212-687-8080Source:Ocwen Financial Corp.

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