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Fitch IBCA Affirms OCWEN's Special Servicer Rating at `CSS2'.

NEW YORK--(BUSINESS WIRE)--July 1, 1999--

OCWEN Federal Bank FSB's special servicer rating of `CSS2' is affirmed by Fitch IBCA based on OCWEN's ability to specially service and resolve distressed assets securing commercial mortgage-backed securities (CMBS).

The rating also reflects the company's highly experienced team and commitment to technology.

OCWEN is highly effective in managing and liquidating assets in its portfolios. As of April 22, 1999 OCWEN serviced 1103 assets totaling $2 billion, including 135 real estate owned (REO) assets totaling $162 million. The company's recent purchase of Synergy Software Inc. demonstrates its strong commitment to technology.

Fitch IBCA rates special servicers 'CSS1', `CSS2', 'CSS3', or 'CSS4', with `CSS1' the highest rating on the scale.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 1, 1999
Words:116
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