The nonperforming loan specialist Ocwen Financial Corp. named Christine A. Reich president and promoted three other executives.

Ms. Reich, 37, will oversee the company's primary business lines. The 10-year Ocwen veteran has been a managing director since June 1994 and president and director of Ocwen Asset Investment Corp. since February 1997. She was chief financial officer of Ocwen Financial from January 1990 to May 1997.

The company also named John R. Erbey, 57, as its senior managing director and general counsel as well as chairman and chief executive officer of Ocwen Technology Xchange, the newly formed technology subsidiary.

In that position Mr. Erbey will be responsible for developing Ocwen's technology platform; the aim is to provide software to the mortgage and real estate industries. Mr. Erbey joined Ocwen in 1989.

Jordan C. Paul, 36, was promoted to executive vice president, and will manage the company's commercial discount loan business as well as its real estate lending and investments.

Ronald A. Faris, 36, will be an executive vice president, responsible for Ocwen's residential discount loans, servicing operations, unsecured collections, multifamily finance, and construction management.

-Compiled by Snigdha Prakash

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