Home Loan Servicing trades through sale price

|About: Home Loan Servicing Solu... (HLSS)|By:, SA News Editor

As New Residential (NRZ +5%) releases a presentation on its deal to purchase Home Loan Servicing Solutions (HLSS +10.1%) and begins a conference call to discuss the transaction, the stock of HLSS begins to trade north of the $18.25 cash per share purchase price, now currently at $18.52.

Adding $165B in UPB of MSRs (at book value, and at what may or may not be the lows of the interest rate cycle), New Residential expects the deal to be accretive to future earnings and drive long-term growth opportunities as it expands its servicing relationships to now include Ocwen Financial along with Nationstar Mortgage.

Previously: New Residential up sharply following HLSS purchase; trouble for Ocwen (Feb. 23)

Previously: New Residential scoops up Home Loan Servicing (Feb. 23)

Previously: Nationstar soars on Ocwen portfolio purchase (Feb. 23)

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