NEW YORK (Standard&Poor's) Dec. 12, 2001--Standard&Poor's today assigned its Strong Residential Subprime and Residential Special Servicer rankings to Ocwen Federal Bank FSB (Ocwen), a wholly owned subsidiary of OCWEN Financial Corp. At the same time, the company is assigned an Above Average Residential Alternative Servicer ranking for subordinate lien products. The outlook is stable. These rankings are based on the company's tenured management team, comprehensive policies and procedures, superior data management and reporting capabilities, improved risk management methodologies, and extensive default management expertise. Ocwen has established an impressive track record as a residential special servicer of nonperforming and subperforming mortgage assets. The company specializes in resolving problem assets for third parties on a fee basis, utilizing
