Home Loan Servicing Solutions, Ltd., which was recently formed to acquire Ocwen Financial Corporation's mortgage servicing business, filed on Thursday with the SEC to raise up to $316 million in an initial public offering. The Cayman Islands-based company plans to list on the NASDAQ under the symbol HLSS. Founder and Chairman William Erbey, who is also the current Chairman of Ocwen and its former CEO and President, will invest $10 million in a concurrent private placement. Home Loan Servicing Solutions will offer an undisclosed number of shares at an estimated offer price of $15 per share, according to the SEC filing. Wells Fargo Securities and Barclays Capital are the lead underwriters on the deal.
