Home Loan Servicing Solutions (HLSS)

[Enterprising Investor]

NRZ buys the HLSS assets for the equivalent price of $17.08 per share.

Apparently, there were some "going concern" issues slowing things down.

John Van Vlack, Chief Executive Officer of HLSS stated, “Despite our efforts to pursue the merger as initially planned, certain circumstances prompted HLSS to pursue an Asset Purchase Agreement with New Residential. We believe this alternative transaction structure made the most sense for us as it allowed HLSS to file its financial results without a going concern qualification and provide the greatest certainty on funding new servicing advances. This transaction will also enable our shareholders to maximize value for their shares.”