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Home Loan Servicing Plans To Sell 18.3 Million Shares In IPO

DOW JONES NEWSWIRES Home Loan Servicing Solutions Ltd. said it plans to sell 18.3 million shares in its initial public offering, continuing its plans to go public at a turbulent time for the market. The company, which in February filed plans to sell up to $316.3 million in stock, expects the shares will price at about $15. The company now owned by Ocwen Financial Corp. (OCN) Chairman William C. Erbey was formed to acquire mostly subprime and Alt-A mortgage servicing rights and advances. It said it isn't subject to the risk associated with many loans because it only services mortgages and doesn't originate or buy them. Erbey plans to buy $10 million worth of ordinary shares in a private placement at the same time as the IPO, according to a filing with the Securities and Exchange Commission. The company has filed to list on Nasdaq under the symbol HLSS. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;

Stock News for Ocwen (OCN)
03/26/201517:13:06Current Report Filing (8-k)
03/26/201505:41:39Altisource Portfolio Solutions: More Pain Ahead
03/24/201508:40:51Ocwen to Sell Additional $25 Billion Portfolio to Nationstar
03/24/201508:31:49Ocwen to Sell Added $25 Billion in Mortgage Servicing Rights...
03/24/201508:19:37Ocwen to Sell Additional $25 Billion in Mortgage Servicing Rights...
03/24/201507:30:56Ocwen selling more MSRs to Nationstar; NYSE warns on delisting
03/24/201507:15:00Ocwen Financial Intends to Sell Additional $25 Billion Portfolio...
03/24/201506:07:03Current Report Filing (8-k)
03/23/201519:58:17Ocwen Financial Corporation Announces Notice of Noncompliance...
03/23/201508:11:26Altisource Portfolio - Fall Of Erbey's Empire
03/23/201507:42:18Ocwen issues letter rebutting non-performance claims by RMBS...
03/23/201507:30:00Ocwen Issues Rebuttal Letter to Trustees in Response to Notice...
03/23/201500:30:42Ocwen Responds to Mortgage-Investor Criticism
03/20/201507:46:58Ocwen agrees with creditors over accounting charge
03/20/201506:07:48Current Report Filing (8-k)
03/18/201511:34:11Ocwen Financial Intends to Sell $9.6 Billion Portfolio of Mortgage...
03/18/201511:00:10Ocwen Delays Financial Report
03/18/201509:51:19Ocwen may need more time for annual report; -6%
03/18/201509:20:19Current Report Filing (8-k)
03/17/201519:30:25Ocwen Sells $45 Billion of Servicing Rights to J.P. Morgan

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