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HLSS Holdings Pays $104M For Subprime Portfolio

Law360, New York (May 3, 2012, 5:35 PM EDT) -- An affiliate of Home Loan Servicing Solutions Ltd. has bought the rights to a portfolio of subprime residential mortgage loans with $2.9 billion in unpaid principal balances from Ocwen Loan Servicing LLC for $103.8 million, HLSS announced Thursday.

 HLSS Holdings LLC purchased the rights to receive servicing fees and related servicing advances on the portfolio, which includes both subprime and less risky Alt-A loans, with $25.9 million in cash and a $77.9 million loan under an existing facility with Barclays Bank PLC.

The transaction is part...
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