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HLSS Preps $300M Servicer Advance Securitization

nationalmortgagenews.com | November 23, 2013

By Nate Raymond

HLSS Holdings is coming out with a $300 million securitization of servicer advances, according to a presale report by Standard & Poor's.

The deal, known as Advance Receivables-Backed Notes Series 2013-T7, is split into four tranches: the  A-T7 notes have been assigned a preliminary AAA rating, B-T7 notes have been assigned a preliminary AA rating, C-T7 notes have been assigned a preliminary A ratings and D-T7 notes have been assigned a preliminary BBB rating.

The series 2013-T7 notes are very similar to the 2013-T5 series that were issued in August 2013, according to the S&P presale report. Both deals have 36-month revolving periods, similar coupon rates, recovery curves, and advance rates.

The series 2013-T7 notes are backed by servicer advance and servicing fee advance receivables. These are related to the obligation of the servicer, in this case, Ocwen Loan Servicing, to cover payments missed by borrowers on loans in an outstanding securitization deal. The flows into the HLSS transaction come from the reimbursement of those advances.

The arrangers on the deal are Barclays Capital, Credit Suisse Securities and Wells Fargo Securities.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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