BlueMountain Capital Management, LLC Delivers Notice of Default on Certain Notes to Trustee of the HLSS Servicer Advance Receivables Trust
NEW YORK, Jan. 23, 2015 /PRNewswire/ — BlueMountain Capital Management, LLC, the investment manager of funds that hold certain Series 2012-T2 and Series 2013-T3 Notes issued in connection with the HLSS Servicer Advance Receivables Trust (the “HSART Trust”), today announced that it has sent the letter below to the trustee of the HSART Trust.
This press release is being issued by BlueMountain Capital Management, LLC (“BlueMountain”), an SEC-registered investment adviser. As of January 23, 2015, funds and accounts managed by BlueMountain and/or its affiliates (i) hold certain notes issued in connection with the HLSS Servicer Advance Receivables Trust, (ii) hold certificates of certain residential mortgage-backed securities (the “RMBS Certificates”) collateralized by loans serviced by Ocwen Loan Servicing, LLC, (iii) hold a short position in, and put options with respect to, the common stock of Ocwen Financial Corporation (“Ocwen”) and (iv) hold a short position in, and put options with respect to, the common stock of Home Loan Servicing Solutions, Ltd. (“HLSS”). BlueMountain also has directed the trustees of certain of the RMBS Certificates to investigate and/or take action with respect to Ocwen Loan Servicing, LLC.
Without making any public or other disclosure except as may be required by applicable law, funds and accounts managed by BlueMountain and/or its affiliates may, at any time, buy and sell securities and instruments issued and/or managed by Ocwen, HLSS and other companies, including, without limitation, increasing and/or covering short positions in Ocwen and/or HLSS and/or changing to long positions in Ocwen and/or HLSS, based upon such factors as BlueMountain may, in its sole and absolute discretion, deem relevant.
The information set forth herein does not constitute a recommendation or solicitation to buy or sell any security. The information set forth herein represents the opinion of BlueMountain as of the date hereof and the trustee’s response to the letter is unknown. This press release contains certain “forward-looking statements,” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential,” “outlook,” “forecast,” “plan” and other similar terms. All forward-looking statements are subject to various factors, any or all of which could cause actual events to differ materially from projected events. The information set forth herein is based upon information reasonably available to BlueMountain and obtained from sources BlueMountain believes to be reliable; however, such sources cannot be guaranteed as to their accuracy or completeness. BlueMountain makes no representation or warranty, express or implied, as to the accuracy or completeness of the information set forth herein and undertakes no duty to update its contents.
You can read more of this news release and Ocwen’s Violations of Law and Imprudent Servicing Practices by clicking here
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