Real Estate Investor Acquires Mortgage Servicer for $1.3 Billion

first_img February 23, 2015 943 Views  Print This Post Related Articles in Daily Dose, Featured, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago New Residential Investment Corp. and Home Loan Servicing Solutions Ltd. announced a definitive merger agreement on Sunday. The merger agreement sets for New Residential to acquire all of the outstanding shares of HLSS for $18.25 per share in cash, totaling approximately $1.3 billion. The purchase price represents a 9 percent premium to HLSS’ closing price of $16.76 on Friday, February 20.The Chief Executive Officer of New Residential, Michael Nierenberg, said he was pleased to announce the transaction with HLSS.”The acquisition will significantly add to the value of our book of mortgage servicing assets and expand our relationships with mortgage servicers to include both Nationstar Mortgage and Ocwen Financial Corp., which are the two largest non-bank servicers in the United States,” Nierenberg said. “We are confident that this transaction will enhance our earnings growth potential and our ability to generate strong returns for our shareholders.”New Residential, which is based in New York, was formed in 2013 as a wholly owned subsidiary of Newcastle Investment Corp.  The company primarily targets investments in mortgage servicing related assets and other related investments.  HLSS was formed to acquire mortgage servicing assets. Their principal offices are located in the Cayman Islands. The acquisition is expected to close in the second quarter of 2015 pending the HLSS shareholder approval and other customary closing conditions. It has been approved by the Board of Directors of each company. Advising New Residential on the acquisition were Bank of America, Merrill Lynch, and Credit Suisse as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP, Sidley Austin LLP, and Maples and Calder as legal advisors. Advising HLSS on the transaction was Citi as financial advisor and Weil, Gotshal & Manges LLP and Walkers as legal advisors.The Chief Executive Officer of HLSS, John Van Vlack, said New Residential provided HLSS with the most attractive offer. “I am pleased that this transaction offers our investors cash equivalent to the book value of their shares and addresses the uncertainty associated with our future financing obligations,” Vlack said. “Of the strategic proposals received, New Residential’s was the most attractive for a variety of reasons including valuation and certainty of execution. We believe that New Residential is well positioned to provide support and act as a strategic financing party to Ocwen over the long-term.” Acquisitions Home Loan Servicing Solutions Mortgage Servicers New Residential Investment Corp. 2015-02-23 Samantha Guzman Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Hudson & Marshall, Genesis Auctions Merge to Create ‘Powerhouse’ Next: Existing-Home Sales Down Month-Over-Month, But Up from a Year Ago Samantha Guzman is an award-winning visual journalist and graduate of the University of North Texas Mayborn School of Journalism. She specializes in visual storytelling and has skills in video, audio and photography, in addition to news writing. She has traveled to Mexico and Bosnia as an assistant for multiple multimedia projects and taught news writing, photojournalism, and narrative storytelling in the past. Share Save Home / Daily Dose / Real Estate Investor Acquires Mortgage Servicer for $1.3 Billion The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Acquisitions Home Loan Servicing Solutions Mortgage Servicers New Residential Investment Corp. Servicers Navigate the Post-Pandemic World 2 days ago Real Estate Investor Acquires Mortgage Servicer for $1.3 Billion Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily About Author: Samantha Guzman The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Manipur HC Pulls Up Lady Cop For Her ‘Contemptuous’ FB Post Against Judiciary; Issues Notice To 20 FB Account Holders [Read Order]

first_imgNews UpdatesManipur HC Pulls Up Lady Cop For Her ‘Contemptuous’ FB Post Against Judiciary; Issues Notice To 20 FB Account Holders [Read Order] LIVELAW NEWS NETWORK13 Jun 2020 4:16 AMShare This – xThe Manipur High Court has initiated contempt proceedings against a woman cop who allegedly posted derogatory, defamatory and contemptuous remark in her face book account against Judiciary. Thounaojam Brinda, an officer of Manipur Police Service, had made some comments in the social media platform after a NDPS Case accused was granted bail by the Court of Narcotic Drugs and…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Manipur High Court has initiated contempt proceedings against a woman cop who allegedly posted derogatory, defamatory and contemptuous remark in her face book account against Judiciary. Thounaojam Brinda, an officer of Manipur Police Service, had made some comments in the social media platform after a NDPS Case accused was granted bail by the Court of Narcotic Drugs and Psychotropic Substances (ND&PS). During the hearing held on Wednesday, the officer denied the allegations that she threatened the witnesses and that she showed ‘middle finger’ to the judge. The Court has directed her to file an affidavit within four weeks’. The bench comprising of Justice Lanusungkum Jamir and Justice Kh. Nobin Singh also issued notice to twenty face book account holders who posted remarks against judiciary in their face book. The police was also directed to ‘continue collecting and verifying details of persons who keep on uploading posts scandalizing the Judiciary in connection with the present case.’Click here to Read/Download OrderRead OrderNext Storylast_img read more

Evansville Police Department 2017 Fall Citizen’s Academy Announcement

first_imgThe Evansville Police Department would like to invite the citizens of our community to attend our ten-week Citizen’s Academy Fall session. Well over a thousand citizens have attended this program since its inception over twenty years ago.Those attending this session of the Citizen’s Academy will use the Evansville Police Department’s firearms simulator. This will allow attendees to take part in realistic interactive “Shoot / Don’t Shoot Scenarios”.The E.P.D. Citizen’s Academy provides the community with the opportunity to see firsthand how the various units of the police department operate. The goal of the Citizen’s Academy is to help create a better understanding of the department and provide improved communications between the citizens of Evansville and the members of the E.P.D. who serve.The academy is free of charge and will be held e ach Tuesday evening beginning September 5th and continuing through November 14th from 6:00 pm until 9:00 pm at the Evansville Police Department Foundation Training Room located at the C.K. Newsome Center / 100 E. Walnut Street / Evansville, Indiana).Please see the attached Citizen’s Academy flyer and registration form for further information.EPD now accepting registration for Fall 2017 Citizen’s Academy.FacebookTwitterCopy LinkEmailSharelast_img read more

Report: 49ers add Wes Welker to coaching staff

first_imgSANTA CLARA — Wes Welker, who led the NFL in receptions three times during his New England Patriots tenure, is joining the 49ers coaching staff.Welker’s role, likely as a receivers coach, has yet to be announced or confirmed by the 49ers. His hiring was first reported Tuesday by the Houston Chronicle’s John McClain.Welker, 37, retired from his 12-year career after the 2015 season, and he spent the past two years as a Houston Texans assistant. He reportedly interviewed this past month with the …last_img read more

Boulder County to Revise BuildSmart Rules

first_imgOne year into its ambitious green code program, the county plans to introduce more flexibility and clarity into its requirementsAttempts to mandate green behavior and bolster green enterprise are bound to yield unintended consequences every now and then.GBA has noted a couple of examples: Recycling paper in a down economy ends up diminishing the market for recycled paper; and a program to remove derelict row houses in Philadelphia ends up diminishing the energy efficiency of the row houses left standing.Freshly added to the list are the side effects of the BuildSmart code launched in May 2008 in Colorado’s Boulder County, where residents have been giving local officials plenty of critical feedback and, out on the job sites, installing bigger solar power installations, not more energy efficient exterior shells, for their construction and renovation projects over the past year.“We are not necessarily getting better building envelopes from the BuildSmart regs, just bigger photovoltaic systems,” said a recent report to the county commissioners from the building department, whose comment was cited in a story published last week by the Daily Camera.The paper noted some common complaints about the code – which is one of the strictest (and, perhaps, most complex) performance-based codes in the country – and covered the response by the Boulder County Commissioners, who after a public hearing on Tuesday instructed county staffers to return in three weeks with a revised scale for rating energy-efficiency requirements in new homes and a better system for regulating remodels.Sorting through positives and negativesThe county’s current BuildSmart code, whose performance requirements are based on HERS ratings, is too expensive and strict for remodels, some residents told county officials. Residents also complained that the complexity of HERS ratings left them at a disadvantage when trying to determine early on in their projects which construction approaches might be the most cost effective.The commissioners did immediately relax one major code provision: previously, new houses of 5,000 sq. ft. or more had to conform to near-zero energy standards, but the commission stretched the new near-zero threshold to new homes of 7,000 sq. ft. or more. The county also will look at ways to make it easier for residents to renovate existing homes, the Daily Camera noted.Many of the residents who bulked up on solar power may have seen PV panels as the simplest, if not the cheapest, way to meet overall ratings requirements. Many older houses in Boulder County have a HERS rating of at least 180 – 80 points above the maximum rating allowed for a home built to code.County officials, however, are not particularly surprised that the code needs reworking after a year on the books. A review was part of the plan from the beginning, and the commission is interested in doing what it can to encourage green construction in general, and remodelers in particular.“The truth is that we really do want people to do renovations instead of scraping and starting over from scratch,” said Commissioner Ben Pearlman.last_img read more

NFL Draft: Jordan Sterns, Ashton Lampkin Sign as Free Agents with Kansas City Chiefs

first_imgKansas City thank you ??— Jordan Sterns (@31rzns) April 29, 2017 Like their fellow teammate Blake Jarwin, neither Jordan Sterns nor Ashton Lampkin heard their names called from a podium in Philadelphia this weekend. But both have already found opportunities to prove themselves at the next level—and with the same team, no less.Sterns and Lampkin have come to terms with the Kansas City Chiefs as undrafted free agents, as the two announced on their social media.All the teams that passed on me thank you??— Jordan Sterns (@31rzns) April 29, 2017 God never said it would be easy. Wanna thank the @chiefs for the opportunity to ball again at the next level. Major chip on my shoulder ???? pic.twitter.com/Ym2AmY53gE— Ashton Lampkin (@OSU_DB6) April 29, 2017The Chiefs won the AFC West in 2016 before losing in the divisional round to the Pittsburgh Steelers. With Kansas City, Sterns will get to learn under 5-time Pro Bowl strong safety Eric Berry. Lampkin will compete with, and alongside, former Washington cornerback Marcus Peters. They will join former teammate Tyreek Hill, who was drafted by the Chiefs last season out of West Alabama.center_img While you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up.last_img read more

Retiring Bob Stoops: By The Numbers at Oklahoma

first_imgRankCoachWin %Team 4Barry Switzer83.7%Oklahoma 10Bud Wilkinson82.6%Oklahoma 12Percy Haughton81.7%Harvard 14Frank Thomas81.2%Alabama 22Nick Saban77.4%Alabama 5Tom Osborne83.6%Nebraska 2Frank Leahy86.4%Notre Dame On Wednesday afternoon, Berry Tramel dropped a bombshell on all of us: Bob Stoops, after 18 years in Norman, is retiring as the head coach at the University of Oklahoma. He’ll be replaced by 33-year-old offensive coordinator Lincoln Riley.“Big Game Bob” has been around the Big 12 seemingly forever, and whether you love him or hate him, there’s no question he’s owned the Big 12 unlike any coach has the last several decades. Let’s take a look at Bob Stoops’ career by the numbers.• 190-48 overall record. Stoops owns a 79.8% winning percentage over 238 games since 1999. Think about how hard that is to do! Per Sports Reference, that puts Stoops No. 17 in the history of Division 1 football coaches, ahead of the likes of Bear Bryant, Bo Schembechler, Woody Hayes, and for now, Nick Saban. 8Bob Neyland82.9%Tennessee 17Bob Stoops79.8%Oklahoma 13Jock Sutherland81.2%Pitt Fielding Yost83.3%Michigan 15Bob Devaney80.6%Nebraska 21Bo Schembechler77.5%Michigan 16George Woodruff80.3%Pennsylvania 23Andy Smith77.1%California 11Chris Petersen82.1%Boise State 25Wallace Wade76.5%Duke 1Knute Rockne88.1%Notre Dame 9Jim Tressel82.8%Ohio State 18Henry Williams78.5%Minnesota 6Charley Moran83.3%Centre 3Urban Meyer85.1%Florida 19Fred Folsom78.1%Colorado 24Fritz Crisler76.8%Michigan • 10 Big 12 Titles. This one is nuts. Oklahoma has won the Big 12 10 (!) times since the conference’s inception (and all since Bob Stoops became the head coach in 1999). The next closest is Texas, with three conference championships. The rest of the Big 12 combined has won at least a share of 13 conference titles, just three more than Stoops all on his own.With Bob Stoops as coach, Oklahoma won 10 conference titles. Over the same span, the rest of the Big 12 combined to win… 10.— Jake Trotter (@Jake_Trotter) June 7, 2017• 14 double digit win seasons in 18 seasons. Remarkable consistency.11 AP top 10 finishes in 18 seasons6 Big 12 Coach of the Year awards, including 2015 and 2016.14-4 against Oklahoma State (77% winning percentage)9-9 in bowl games, including 5-6 in the Sugar, Fiesta, Rose, Orange, or BCS championship games.1 very bad Bedlam decision.Overall, Bob Stoops goes down as the greatest Big 12 football coach to date (and maybe ever when the Big 12 is all said and done), and one of the most successful coaches of his era, leaving young Lincoln Riley with enormous shoes to fill in Norman.Love him or hate him, Stoops has been the definition of greatness in the Big 12 and his exit is a relief for Cowboy fans. 20Bear Bryant78.0%Alabama While you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up.last_img read more

Pochettino claims 100th Premier League win

first_imgTottenham Hotspur Pochettino joins elite group with 100th Premier League win Joe Wright 02:21 4/3/2018 FacebookTwitterRedditcopy Comments(0) mauricio pochettino - cropped Getty Images Tottenham Hotspur Premier League Tottenham Hotspur v Huddersfield Town Huddersfield Town nly five managers have managed a century of victories faster than the Argentine, who reached the milestone on Saturday Mauricio Pochettino reached 100 Premier League wins as Tottenham manager in Saturday’s 2-0 win over Huddersfield Town at Wembley.Two goals from Son Heung-min secured all three points for the home side and moved them into third place in the table, a point above Liverpool, who face Newcastle United in their game in hand.It was Spurs’ third straight win in the Premier League, and marked 11 games unbeaten since folding to Manchester City shortly before Christmas. Article continues below Editors’ Picks Williams case shows Solskjaer isn’t holding Man Utd’s youngsters back – he’s protecting them Goalkeeper crisis! Walker to the rescue but City sweating on Ederson injury ahead of Liverpool clash Out of his depth! Emery on borrowed time after another abysmal Arsenal display Diving, tactical fouls & the emerging war of words between Guardiola & Klopp The former Argentina international has now managed a century of wins in England’s top flight in just 197 matches, which matches ex-Liverpool and Blackburn Rovers boss Kenny Dalglish’s efforts.In doing so, the manager enters an elite group of bosses who have managed the mark with such speed.Only six managers reached the milestone in fewer games. Jose Mourinho leads the way, having won 100 of his first 142 matches, ahead of Alex Ferguson, who needed 162 contests to get a century of victories.100 – Mauricio Pochettino has reached 100 Premier League wins as a manager in 197 games – the joint-6th quickest alongside Kenny Dalglish. Only Jose Mourinho (142), Alex Ferguson (162), Arsene Wenger (179), Rafa Benitez (181) & Claudio Ranieri (187) reached it in fewer games. Ton pic.twitter.com/MqKt3yKHXE— OptaJoe (@OptaJoe) March 3, 2018Arsenal boss Arsene Wenger is next on the list (179 matches), ahead of Rafa Benitez (181) and Claudio Ranieri (187). Check out Goal’s Premier League 2019-20 fantasy football podcast for game tips, debate and rivalries.last_img read more

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