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HOME LOAN SERVICING SOLUTIONS, LTD. FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

June 23, 2014



Item 2.03 Creation of a Direct Financial Obligation.

On June 18, 2014, HLSS Servicer Advance Receivables Trust (the "Issuer") issued $400 million in asset-backed term notes (the "Series 2014-T3 Term Notes"). Initially, only Class A Series 2014-T3 Term Notes and Class B Series 2014-T3 Term Notes were issued (collectively, the "Issued Notes"). The Issued Notes were not rated by any note rating agency. Below is a brief description of the Series 2014-T3 Term Notes by class: Amount ($ Interest Rate Series / Class millions) (Fixed) Spread Over Libor Four-Year Term Notes Series 2014-T3 Class A $ 363.0 2.83 % 1.43 % Class B 37.0 3.40 % 2.00 % Total $ 400.0 2.88 % 1.48 %



The Issuer's notes are secured by servicing advance receivables and are being issued under the Issuer's base indenture and the Series 2014-T3 indenture supplement. See "Item 1. Business-Description of Servicing Advance Facility Agreements and the Advance Financing Facility" in our Annual Report on Form 10-K for the year ended December 31, 2012 for a more detailed description of the Issuer and the agreements governing the issuance of its notes. The Class B term notes will initially be held by HLSS Holdings, LLC ("Holdings"), an affiliate of Home Loan Servicing Solutions, Ltd. ("HLSS"). For so long as Holdings holds the Class B term notes, all, but not less than all, of the Class B term notes may be exchanged for all of the Class BX Term Notes, the CX Term Notes and the DX Term Notes (collectively, the "Exchangeable Notes") on any date of determination subject to the restrictions set forth in the Series 2014-T3 indenture supplement. The proceeds from this issuance of notes are being used to partially pay down certain drawn amounts on previously-issued series of the Issuer's variable funding notes.

Item 9.01. Financial Statements and Exhibits.

(a)-(c) Not applicable. (d) Exhibits:



10.1 Series 2014-T3 Supplement

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Source: Edgar Glimpses