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FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION CONTACT:
James E. Lauter
Senior Vice President & Chief Financial Officer
T: +1 345-815-3932
Earned a record $43.7 million, or $0.61 per ordinary share. Earnings include a $0.06 per ordinary share benefit as a result of the lower annualized prepayment speed of 9.9 percent this quarter relative to the 12.4 percent annualized prepayment speed in the fourth quarter of 2013.
Completed first acquisition of Government National Mortgage Association (“GNMA”) whole loans through the GNMA early buy-out (“EBO”) program. The purchase price for these loans was $556.6 million.
Opened a new $600 million mortgage loan facility to finance the GNMA EBO purchase.
Completed the issuance of $600 million of one-year term notes and $200 million of three-year term notes secured by servicing advance receivables at a weighted average interest spread over LIBOR of 1.09%.
There was no change in servicing asset valuation.
Subsequent to the end of the first quarter of 2014:
On April 17, 2014, declared monthly dividends of $0.16 per ordinary share for each of the months of April, May and June 2014.
The following information was filed by Home Loan Servicing Solutions, Ltd. (HLSS) on Thursday, April 17, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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