Basis100 and Ocwen Technology Xchange Launch Joint Marketing Campaign for Automated Property Valuations

OTX and Basis100 partner to drive Solimar Valuation

Technology use on the RealTrans platform



Apr 19, 2001, 01:00 ET from Basis100 Inc.

    SAN FRANCISCO, April 19 /PRNewswire/ - Basis100 Inc. (BAS:TSE), a leading
 e- commerce technology solutions provider for the financial services industry,
 today announced a joint marketing initiative with Ocwen Technology Xchange,
 Inc. for property valuations offered via OTX's REALTrans(SM) platform. The
 joint marketing campaign kicks off at the Mortgage Bankers Association's
 annual Technology Conference with joint product demonstrations offered at the
 companies' booths. Follow-up marketing will include special introductory
 pricing for valuations and trial access.
     "Basis100 shares our vision of providing access to collateral services in
 venues that best serve the mortgage industry," said Tom McCarthy, Senior Vice
 President of Ocwen Technology Xchange. "Automated property valuation is a
 natural fit to the REALTrans mission as an industry portal, and we're anxious
 to promote its success with the exchange."
     Solimar Valuation Technology powers Basis100's PASS Suite of automated
 property valuation products. Available via a Web browser, Solimar Technology
 provides automated valuations for residential properties in seconds.
     Accessed in a user-friendly Web-based application, REALTrans is an e-
 commerce solution that makes ordering, confirming, tracking, and fulfilling
 real estate products and services as simple as connecting to the Internet.
 Lenders, realtors, mortgage brokers, and mortgage service providers use the
 application to communicate with each other via one connection. Because the
 application resides on the Internet, there is no need to maintain separate and
 costly proprietary links or interfaces between trading partners and users
 enjoy the benefits of product upgrades as soon as they log on to the secure
 site.
     "Alignment with industry partners that share our vision to reduce
 friction in the mortgage transaction has always been a key element of our
 business model." said Basis100 Chairman and CEO Gary Bartholomew. "Our early-
 adopter role in OTX's REALTrans platform provides Basis100 today with a
 founding stake in tomorrow's mortgage e-commerce practices."
 
     About Basis100
     Basis100 is a leading e-commerce technology solution provider for
 financial institutions and service providers enabling them to build,
 distribute, buy and sell their products and services in new ways. Basis100 is
 focused on the mortgage origination, consumer credit, fixed income trading,
 and service vendor markets across North America. For more information about
 Basis100, visit www.US.basis100.com.
 
     About Ocwen Technology Xchange
     Ocwen Technology Xchange, Inc. ("OTX"), a subsidiary of Ocwen Financial
 Corporation (NYSE:  OCN), provides business-to-business e-commerce solutions via
 the Internet for the mortgage and real estate industries, designs software
 solutions for mortgage loan origination and servicing, and also provides
 implementation, integration, and consulting services related to its software
 and Internet products.
     Ocwen Financial Corporation is a financial services company headquartered
 in West Palm Beach, Florida. In addition to OTX, the Company's primary
 business is the servicing and resolution of subperforming and nonperforming
 residential and commercial mortgage loans. Additional information about Ocwen
 Financial Corporation is available at www.ocwen.com.
 
     Forward-looking (safe harbor) statement
 
     Statements made in this news release that relate to future plans, events
     or performances are forward-looking statements. Any statement containing
     words such as "believes", "plans", "expects" or "intends" and other
     statements which are not historical facts contained in this release are
     forward-looking, and these statements involve risks and uncertainties and
     are based on current expectations. Consequently, actual results could
     differ materially from the expectations expressed in these forward-
     looking statements.
 
 
 

SOURCE Basis100 Inc.
    SAN FRANCISCO, April 19 /PRNewswire/ - Basis100 Inc. (BAS:TSE), a leading
 e- commerce technology solutions provider for the financial services industry,
 today announced a joint marketing initiative with Ocwen Technology Xchange,
 Inc. for property valuations offered via OTX's REALTrans(SM) platform. The
 joint marketing campaign kicks off at the Mortgage Bankers Association's
 annual Technology Conference with joint product demonstrations offered at the
 companies' booths. Follow-up marketing will include special introductory
 pricing for valuations and trial access.
     "Basis100 shares our vision of providing access to collateral services in
 venues that best serve the mortgage industry," said Tom McCarthy, Senior Vice
 President of Ocwen Technology Xchange. "Automated property valuation is a
 natural fit to the REALTrans mission as an industry portal, and we're anxious
 to promote its success with the exchange."
     Solimar Valuation Technology powers Basis100's PASS Suite of automated
 property valuation products. Available via a Web browser, Solimar Technology
 provides automated valuations for residential properties in seconds.
     Accessed in a user-friendly Web-based application, REALTrans is an e-
 commerce solution that makes ordering, confirming, tracking, and fulfilling
 real estate products and services as simple as connecting to the Internet.
 Lenders, realtors, mortgage brokers, and mortgage service providers use the
 application to communicate with each other via one connection. Because the
 application resides on the Internet, there is no need to maintain separate and
 costly proprietary links or interfaces between trading partners and users
 enjoy the benefits of product upgrades as soon as they log on to the secure
 site.
     "Alignment with industry partners that share our vision to reduce
 friction in the mortgage transaction has always been a key element of our
 business model." said Basis100 Chairman and CEO Gary Bartholomew. "Our early-
 adopter role in OTX's REALTrans platform provides Basis100 today with a
 founding stake in tomorrow's mortgage e-commerce practices."
 
     About Basis100
     Basis100 is a leading e-commerce technology solution provider for
 financial institutions and service providers enabling them to build,
 distribute, buy and sell their products and services in new ways. Basis100 is
 focused on the mortgage origination, consumer credit, fixed income trading,
 and service vendor markets across North America. For more information about
 Basis100, visit www.US.basis100.com.
 
     About Ocwen Technology Xchange
     Ocwen Technology Xchange, Inc. ("OTX"), a subsidiary of Ocwen Financial
 Corporation (NYSE:  OCN), provides business-to-business e-commerce solutions via
 the Internet for the mortgage and real estate industries, designs software
 solutions for mortgage loan origination and servicing, and also provides
 implementation, integration, and consulting services related to its software
 and Internet products.
     Ocwen Financial Corporation is a financial services company headquartered
 in West Palm Beach, Florida. In addition to OTX, the Company's primary
 business is the servicing and resolution of subperforming and nonperforming
 residential and commercial mortgage loans. Additional information about Ocwen
 Financial Corporation is available at www.ocwen.com.
 
     Forward-looking (safe harbor) statement
 
     Statements made in this news release that relate to future plans, events
     or performances are forward-looking statements. Any statement containing
     words such as "believes", "plans", "expects" or "intends" and other
     statements which are not historical facts contained in this release are
     forward-looking, and these statements involve risks and uncertainties and
     are based on current expectations. Consequently, actual results could
     differ materially from the expectations expressed in these forward-
     looking statements.
 
 
 SOURCE Basis100 Inc.