LaCrosse Global Fund Services and Ocwen Financial Corporation Announce Partnership

WEST PALM BEACH, Fla., June 16, 2009 (GLOBE NEWSWIRE) -- LaCrosse Global Fund
Services and Ocwen Financial Corporation (NYSE:OCN) announced today the
introduction of a specialized suite of services available to investment funds
investing in US-based loans, mortgages and distressed assets. Ocwen will provide
seamless integration of its innovative mortgage servicing and valuation
offerings to customers of LaCrosseMortgage+(tm), a specialized fund
administration and middle-office support package for investment funds that trade
in whole loans.

Rapid growth in fund structures aimed at investments in commercial mortgages,
residential mortgages, mortgage-backed securities and related derivatives
requires increasingly high levels of service requirements in the real estate
arena. To meet this need, the new partnership offers a complete back office
solution that includes fund administration services and progressive real estate
expertise in loan servicing and valuation. LaCrosse and Ocwen will work together
to develop solutions to meet clients' specific needs in these areas.

"Our goal is to take advantage of the recent burgeoning in investment vehicles
for purchasing both performing and non-performing mortgage loans. These vehicles
have administrative and operational requirements that are often different from
typical hedge funds and private equity funds, and LaCrosse has developed unique
expertise in servicing this type of investment. Our partnership with Ocwen
complements the current operational and administrative support platform that
LaCrosse offers to its clients in support of operational best practices," said
Stuart Feffer, co-CEO of LaCrosse.

The partnership between Ocwen and LaCrosse responds to the recent market growth
of financial institutions being forced to divest these distressed and
non-performing assets from their balance sheets. As the markets and investors
have witnessed, the failure to fully understand the complexities of servicing,
valuation and exit strategies of these assets by investors has resulted in
massive portfolio write downs and devaluation of pricing.

Specific components of LaCrosseMortgage+ offered by LaCrosse include fund
administration for the investment pool and related entities, as well as
middle-office and operational support for any securitized or derivatives
trading. Services offered by Ocwen as part of this partnership include
valuation, due diligence, forensics and a full suite of services to support
pre-foreclosure, foreclosure and real-estate owned (REO) assets.

"As the financial markets continue to work these distressed assets through the
system, it will be absolutely necessary for market participants to fully review,
understand and develop the best proactive strategies for managing these complex
assets. This partnership provides a set of integrated tools in the fund
manager's tool box that they can use in determining, valuing and managing the
risk/reward opportunity in this segment of the market," said William Shepro,
president of Ocwen Solutions.

About LaCrosse Global Fund Services

LaCrosse Global Fund Services is a provider of operations, middle-office and
administration services to managers of complex hedge funds globally. The firm
operates in 10 global office locations: Bogota, Buenos Aires, Caracas, Istanbul,
London, Minneapolis, Moscow, New York, Sao Paulo and Singapore. LaCrosse
provides support for a wide range of strategies traded by global portfolio
managers covering fixed income, distressed debt, structured credit, foreign
exchange, equities, commodities and a full range of related derivatives. For
more information, visit www.lacrosseglobal.com.

About Ocwen Financial Corporation

Ocwen Financial Corporation is a leading asset manager and business process
solutions provider specializing in loan servicing, special servicing and
mortgage services. Ocwen is headquartered in West Palm Beach, Florida with
offices in Arizona, California, the District of Columbia, Florida, Georgia and
New York and global operations in Canada, Germany, India and Uruguay. Utilizing
our state of the art technology, world-class training and six sigma processes,
we provide solutions that make our clients' loans worth more. Additional
information is available at www.ocwen.com.

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CONTACT: LJH Financial Marketing
Charlotte Luer
212-925-8703
cluer@ljhfm.com

LaCrosse
Brian Ward
212.510.2954
brian.ward@lacrosseglobal.com

Ocwen Financial Corporation
James Zeldin
770-225-0443
james.zeldin@ocwen.com