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Alan Bowers Named to Ocwen's Board of Directors

May 12, 2015

Ocwen Financial Corporation has announced that it has appointed Alan J. Bowers as a new independent director to its Board of Directors. Bowers’ appointment expands the Ocwen Board to eight directors, seven of whom are independent directors. He has no prior affiliation with Ocwen, its Board members, management or employees.

“We are pleased to welcome Alan Bowers to our Board of Directors,” said Ronald Faris, president and chief executive officer of Ocwen. “We look forward to leveraging Alan’s background and expertise, including his years of service on audit and corporate governance committees, to further Ocwen’s long-term strategic goals.”

Bowers brings more than 30 years of experience in accounting and executive management to Ocwen’s Board, including experience on the audit committees of private and public companies.

Since December 2010, Bowers has served as a director of Walker & Dunlop Inc., as lead director and on the Audit Committee and Nominating and Corporate Governance Committee. Bowers also serves on the Board and as Audit Committee Chairman of La Quinta Inns & Suites, a publicly-traded hotel chain and American Achievement Corporation, a privately-held manufacturer and distributer of graduation products. Bowers is also a board member of Quadel Consulting Corporation, a privately-held government contract manager and consulting firm.

Prior to Bowers' retirement in 2005, he was president and CEO and a board member of Cape Success LLC, a private equity-backed staffing service and information technology solutions business from 2001-2004. Previously, Bowers was president and chief executive officer and a board member of MarketSource Corporation, a marketing and sales support service firm, and of MBL Life Assurance Corporation, a life insurance company. Bowers also served on the boards and as Audit Committee Chairman of Refrigerated Holdings Inc., a temperature controlled logistics firm, Roadlink Inc., a trucking and logistics company, and Fastfrate Holdings Inc., a Canadian trucking and logistics company. Bowers has been a certified public accountant since 1978 and served as staff auditor, audit partner and managing partner, serving a diverse client base, during his tenure at Coopers & Lybrand LLP and a staff accountant with Laventhol & Horwath CPAs.

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