Thrifts and Mortgage Finance
Company Overview of Home Loan Servicing Solutions, Ltd.
Home Loan Servicing Solutions, Ltd., through its subsidiaries, engages in the acquisition of mortgage servicing assets. Its mortgage servicing assets consists of servicing advances, mortgage servicing rights, rights to mortgage servicing rights, and other related assets. The company was founded in 2010 and is based in George Town, the Cayman Islands.
190 Elgin Avenue
George Town, KY1-9005
Founded in 2010
Key Executives for Home Loan Servicing Solutions, Ltd.
Chief Executive Officer, President, Director and Member of Executive Committee
Total Annual Compensation: $325.0K
Chief Financial Officer, Chief Accounting Officer, Senior Vice President and Controller
Total Annual Compensation: $238.0K
Senior Vice President of Investor Relations and Capital Markets
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.
Home Loan Servicing Solutions, Ltd. Key Developments
Brower Piven Announces Commencement of Class Action Lawsuit against Home Loan Servicing Solutions, Ltd
Mar 23 15
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.
Home Loan Servicing Solutions, Ltd. Enters into Amendment to its Senior Secured Term Loan Facility Agreement
Mar 23 15
On March 20, 2015, Home Loan Servicing Solutions, Ltd. entered into an amendment to its senior secured term loan facility agreement dated as of June 27, 2013 among the company, as borrower; certain subsidiaries of the company, as guarantors; JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the lenders party thereto. Pursuant to the amendment, the deadline for the company to furnish its annual financial statements was extended to April 10, 2015, and certain terms of cross-default to the company's advance financing facilities were amended. In addition, consent was granted to permit certain amendments to the Ocwen Subservicing Agreement.
Home Loan Servicing Solutions, Ltd. Receives Non-Compliance Notice From Nasdaq
Mar 20 15
On March 18, 2015, Home Loan Servicing Solutions, Ltd. received notification from The Nasdaq Stock Market LLC (Nasdaq) stating that the company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1) for continued listing due to the company not having timely filed its Annual Report on Form 10-K for the year ended December 31, 2014 (2014 Form 10-K). Nasdaq Listing Rule 5250(c)(1) requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission (SEC). The Nasdaq letter was issued in accordance with standard Nasdaq procedures. This Nasdaq notification has no effect on the listing of the company's ordinary shares at this time. Under the Nasdaq Listing Rules, the company has until May 18, 2015, to submit a plan to regain compliance. If Nasdaq accepts the company's plan, Nasdaq may grant an extension of up to 180 days from the 2014 Form 10-K’s due date, or until September 14, 2015, to regain compliance. If Nasdaq does not accept the company's plan, the company will have an opportunity to appeal that decision to a Nasdaq Hearings Panel. As announced on its Current Report on Form 8-K filed with the SEC on March 18, 2015, the company has not yet filed its 2014 Form 10-K because the company requires additional time to prepare information related to its ability to operate as a going concern and to provide such information to the auditors for the purposes of their audit of the company's financial statements. The company will either file its 2014 Form 10-K or submit a compliance plan to Nasdaq prior to May 18, 2015.
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