September 23, 2020

HLSS Appoints Bryon Stevens as Senior Vice President of Investor Relations and Capital Markets

0
0



Pin It

Home Loan Servicing Solutions, Ltd.TM (“HLSS” or the “Company”) (Nasdaq:HLSS) announced on Thursday (21) the appointment of Bryon Stevens as Senior Vice President of Investor Relations and Capital Markets with responsibility for managing relationships with the Company’s shareholders and prospective investors.

Stevens most recently managed the Alternative Capital Markets Group at UBS Securities where he was responsible for raising capital for companies in privately arranged transactions. Prior to UBS, Stevens was a Vice President in the M&A Group at JP Morgan Securities.

“Our successful IPO was an important milestone in the growth of HLSS,” said John Van Vlack, HLSS President. “We look forward to Bryon helping to continue our growth in a manner that delivers value to our shareholders.”

Stevens graduated from Santa Clara University with a Bachelor of Science degree and from the University of Chicago Booth School of Business with an MBA.

Based in George Town, Grand Cayman, Home Loan Servicing Solutions (HLSS) is an internally managed owner of high quality mortgage servicing assets, predominantly mortgage servicing advances and subprime and Alt-A mortgage servicing rights, which are highly over collateralised with historically stable net asset values. HLSS’ primary investment objective is to generate stable, recurring fee based earnings and dividends throughout the economic cycle. For more information, visit www.hlss.com

In February, 2012, HLSS announced they had scheduled a $200 million IPO with a market capitalisation of $210 million at a price range mid-point of $15, for Wednesday, February 29, 2012.

The reason for the IPO is that HLSS wants to sell 95% of the company in an IPO to acquire rights to service mortgages, primarily subprime and Alt-A mortgage servicing rights and associated servicing advances. HLSS also plans a $10 million from a concurrent private place with William C. Erbey, founder and Chairman of Board of Directors

HLSS will have no mortgage loss risk because they will only service the mortgages, using someone else’s mortgage servicing platform.

HLSS is a spin-off of Ocwen Financial Corporation (OCN), which through its subsidiaries, is a provider of residential and commercial mortgage loan servicing, special servicing and asset management services.

OCN operates in three segments: Servicing, Loans and Residuals, and Asset Management Vehicles. These three segments consists of its Ocwen Asset Management line of business that, in addition to its core residential servicing business, includes OCN’s equity investments in AMVs and its remaining investments in subprime loans and residual securities.

On September 1, 2010, OCN, through OLS, acquired the United States non-prime mortgage servicing business of Barclays Bank PLC, HomEq Servicing, including the mortgage servicing rights and associated servicer advances of the business, as well as the servicing platforms based in Sacramento, California and Raleigh, North Carolina (the HomEq Acquisition). In September 2011, Goldman Sachs Group, Inc. sold Litton Loan Servicing to OCN.

Print Friendly, PDF & Email

Speak Your Mind

*