Brokers Reduce Costs and Speed Mortgage Processing Via Calyx Software and REALTrans.com.

Business Editors

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 9, 2000

Mortgage brokers using Calyx POINT(R) for Windows software to process loans can now order flood, appraisal, title and escrow services online at REALTrans(SM).com, as a result of the web-based Preferred POINT Partner interface between POINT and REALTrans.com.

According to Jack Trageser, Director of Marketing & Business Development for Calyx Software, the REALTrans.com interface in POINT is a great example of a service that enables mortgage brokers to take full advantage of the simplicity, effectiveness and efficiency of Internet-enabled e-commerce." Calyx considers the REALTrans(SM) application to be a valuable addition to our Preferred POINT Partner program," said Trageser. "For mortgage brokers who demand choice among vendors, accountability, and Internet connectivity, the POINT interface to the REALTrans application will prove to be an excellent option."

Mortgage brokers using the Calyx POINT software will now have a growing roster of service providers to whom they can turn to achieve these benefits. Current REALTrans application users, by having access to more than 4,700 service choices, have seen their cycle times cut in half and their processing costs shaved by 20% to 40%, or by as much as $300 to $600 per loan.

"It is especially gratifying to ally with Calyx, since OTX and Calyx share the same commitment to the use of open, non-proprietary platforms and the avoidance of preferred or exclusive vendor relationships," said John R. Erbey, Chairman and Chief Executive Officer of Ocwen Technology Xchange, Inc., the parent company of REALTrans.com. "Our mutual belief is that a level playing field in the marketplace benefits everyone. Neither party to this integration has an economic interest in, or bias toward any particular service vendor. Every service vendor using POINT software and the REALTrans application is as preferred as every other vendor."

Calyx Software is a leading provider of Windows-based software for mortgage professionals. Their flagship software, POINT for Windows, is used at more than 20,000 sites, enabling users nationwide to originate and process mortgage loans. Mortgage brokers, correspondents, and lenders use POINT to market loans, pre-qualify borrowers, process and underwrite applications, track documents, generate reports, and manage their businesses.

REALTrans.com, Inc., which provides a Web-based e-Commerce application for the mortgage and real estate industries, is a subsidiary of Ocwen Technology Xchange, Inc., which is itself a subsidiary of Ocwen Financial Corporation (NYSE:OCN).