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April 18, 2015 4:37 PM ET

Thrifts and Mortgage Finance

Company Overview of Home Loan Servicing Solutions, Ltd.

Company Overview

Home Loan Servicing Solutions, Ltd., together with its subsidiaries, focuses on acquiring assets related to residential mortgages. The company was founded in 2010 and is based in George Town, the Cayman Islands. As of April 6, 2015, Home Loan Servicing Solutions, Ltd. operates as a subsidiary of New Residential Investment Corp.

190 Elgin Avenue

George Town,  KY1-9005

Cayman Islands

Founded in 2010

14 Employees

Phone:

345-945-3727

Key Executives for Home Loan Servicing Solutions, Ltd.

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 50
Total Annual Compensation: $325.0K
Chief Financial Officer, Chief Accounting Officer, Senior Vice President and Controller
Age: 54
Total Annual Compensation: $238.0K
Senior Vice President of Investor Relations and Capital Markets
Age: 45
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.

Home Loan Servicing Solutions, Ltd. Key Developments

Home Loan Servicing Solutions, Ltd. Declares Liquidating Distribution, Payable on April 27, 2015

Home Loan Servicing Solutions, Ltd. announced that its Board of Directors has declared a liquidating distribution in the aggregate amount of approximately $1.2 billion or $16.613 per share. The Distribution Amount represents the net proceeds received by the company in connection with the sale of substantially all of the company's assets pursuant to the Stock and Asset Purchase Agreement with New Residential Investment Corp. entered into and consummated on April 6, 2015, less a cash reserve in the amount of $50 million. Holders of record of ordinary shares of the company at the close of business on April 20, 2015 will be entitled to receive the Distribution Amount, which the company expects to be paid on April 27, 2015.

Home Loan Servicing Solutions, Ltd. Announces Unaudited Consolidated Financial Results for the Year Ended December 31, 2014

Home Loan Servicing Solutions, Ltd. announced unaudited consolidated financial results for the year ended December 31, 2014. The company reported total revenue was $399,751,000 compared with $239,832,000 a year ago. Income from operation was $381,298,000 compared with $227,962,000 a year ago. Income before income taxes was $217,600,000 compared with $117,891,000 a year ago. Net income was $216,964,000 compared with $117,657,000 a year ago. Diluted earnings per share were $3.05 compared with $1.83 a year ago. Net cash provided by operating activities was $514,969,000 compared with $625,409,000 a year ago.

Brower Piven Announces Commencement of Class Action Lawsuit against Home Loan Servicing Solutions, Ltd

Brower Piven announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Home Loan Servicing Solutions, Ltd. common stock during the period between February 7, 2013 and January 23, 2015, inclusive. Investors who wish to become proactively involved in the litigation have until March 30, 2015 to seek appointment as lead plaintiff.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 6, 2015
Home Loan Servicing Solutions, Ltd., Substantially All Assets
Merger/Acquisition
February 23, 2015
Home Loan Servicing Solutions, Ltd., Portfolio of Re-Performing Mortgage Loans
Merger/Acquisition
February 22, 2015
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