Home Loan Servicing Solutions (HLSS) – an entity whose sole mission in life is to buy servicing rights from Ocwen Financial Corp. – finally went public this week, raising roughly $186 million in cash.

With the initial proceeds it hopes to buy $16 billion of MSRs from Ocwen for roughly $181 million. HLSS's advisor on the transaction is Mortgage Industry Advisory Corp., New York. Ocwen is based in Atlanta.

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