HLSS

Home Loan Servicing Solutions, Ltd.

A company that bought up the rights to collect payments on other lenders' home mortgages, then hired a separate firm to actually handle those loans. Founded in 2010 by William Erbey—then chairman of Ocwen Financial—it was created as a "capital-light" way to hold mortgage servicing assets that Ocwen managed. Its name is a plain-English description of the job: home loan servicing solutions. The company wound down in 2015, when its assets were sold to New Residential Investment Corp.