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Ocwen Issues Update: Says Received Request from NY DFS

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Ocwen Financial Corporation ("Ocwen") (NYSE: OCN), a leading financial services holding company, announced that, at the request of the New York Department of Financial Services ("NY DFS"), its mortgage servicing arm has agreed to put an indefinite hold on its previously announced purchase from Wells Fargo Bank, N.A. of mortgage servicing rights on a portfolio consisting of approximately 184,000 loans with a total principal balance of $39 billion.

Ocwen will continue to work closely with the NY DFS to resolve its concerns about Ocwen's servicing portfolio growth.

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