FORT LAUDERDALE, Fla. — Jan. 15, 2001 — Boston Portfolio Advisors, acting as asset sale advisor to Empire Funding Corporation in Austin, Texas, announced the sale of $1.4 billion of high LTV servicing rights to OCWEN financial Corporation in West Palm Beach, Florida.  The sale of servicing rights from Empire Funding to OCWEN represents the execution of one of the largest HLTV servicing rights trades in the industry. 

“We were pleased to help facilitate this sale, which resulted in a win-win situation for everyone involved” said Boston Portfolio Advisors President, Scott Calahan.  “Our special expertise in high LTV portfolios enabled us to get Empire an attractive price, and to give OCWEN assurance that the portfolio had been accurately represented.” 

“Because of some special circumstances surrounding the sale, we also needed to execute the transaction as quickly as possible,” said Eugene Wetzold, Director of Asset Finance for Boston Portfolio Advisors.  “Our ability to close such a large transaction in a short period of time is a tribute to our extensive industry contacts, knowledge of the product and the secondary market, and ability to quickly analyze and value portfolios.”

“Boston Portfolio Advisors’ efficiency and professionalism was instrumental in facilitating this complex transaction,” said John Guy, Director of Business Development for OCWEN. 

Boston Portfolio Advisors provides loan portfolio consulting services including loan sale advisory, loan servicing sales and reviews, portfolio valuation, loan file due diligence, risk analysis, and litigation and bankruptcy support.  Additional information about Boston Portfolio Advisors is available at www.bostonportfolio.com.