Notification That Annual Report Will Be Submitted Late (nt 10-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING



(Check One:)	x	Form 10-K	o	Form 20-F	o	Form 11-K	o	Form 10-Q

	o	Form 10-D	o	Form N-SAR	o	Form N-CSR

	For Period Ended: December 31, 2014

	o	Transition Report on Form 10-K
	o	Transition Report on Form 20-F
	o	Transition Report on Form 11-K
	o	Transition Report on Form 10-Q
	o	Transition Report on Form N-SAR

	For the Transition Period Ended: ___________________

Read Instruction (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION

HOME LOAN SERVICING SOLUTIONS, LTD.

Full Name of Registrant

N/A

Former Name if Applicable

Home Loan Servicing Solutions, Ltd.

c/o Intertrust Corporate Services (Cayman) Limited

190 Elgin Avenue

Address of Principal Executive Office (Street and Number)

George Town, Grand Cayman

KY1-9005

Cayman Islands

City, State and Zip Code

PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)



x	(a)	The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

	(b)	The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

	(c)	The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail why Forms 10-K or 10-KSB, 20-F, 11-K, 10-Q or 10-QSB, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Home Loan Servicing Solutions, Ltd. (the “Company”) is unable to file, without unreasonable effort or expense, its Annual Report on Form 10-K for the year ended December 31, 2014 (the “Form 10-K”). Additional time is needed in order to complete the assessment of recent events related to the Company's business and determine the impact, if any, on the Company's financial statements and related disclosures. The Company will not file its Form 10-K until the assessment has been completed. The Company expects to file the Form 10-K within the 15 day extension period, on or before March 17, 2015.

PART IV - OTHER INFORMATION



(1)	Name and telephone number of person to contact in regard to this notification

	James E. Lauter	(345)	945-3727
	(Name)	(Area Code)	(Telephone Number)



(2)	Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section
	30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the
	registrant was required to file such report(s) been filed? If answer is no, identify report(s). x Yes o No



(3)	Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal
	fiscal year will be reflected by the earnings statements to be included in the subject report or portion
	thereof? x Yes o No

	If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state
	the reasons why a reasonable estimate of the results cannot be made.

As a result of various asset acquisitions and the Company owning certain of its Notes receivable – Rights to MSRs for the entire fiscal year ended December 31, 2014, the Company expects to report net income of $217.0 million on total revenue of $399.8 million as compared to net income of $117.7 million on revenue of $239.8 million for the year ended December 31, 2013. These results of operations are unaudited and subject to change.

Special Note Regarding Forward-Looking Statements

This Form 12b-25 contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this Form 12b-25, without limitation, statements regarding our financial position, business strategy and other plans and objectives for our future operations, are forward-looking statements.

These forward-looking statements include declarations regarding our management’s beliefs and current expectations. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” "might," “should,” “could,” "would," “intend,” “consider,” “expect,” “foresee,” “plan,” “anticipate,” “believe,” “estimate,” “predict” or “continue” or the negative of such terms or other comparable terminology. Such statements are not guarantees of future performance as they are subject to certain assumptions, inherent risks and uncertainties in predicting future results and conditions that could cause the actual results to differ materially from those projected in these forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to, the following:


•	The timing and nature of the final resolution of the matters discussed in this Form 12b-25;


•	Any delay in the filing of required periodic reports with the Securities and Exchange Commission;

•

The ability to close the merger contemplated in the definitive merger agreement dated as of February 22, 2015 (the "Merger"), as included in our Current Report on Form 8-K filed with the Securities and Exchange Commission on February 23, 2015, on the proposed terms and within the anticipated time period, or at all, which is dependent on the parties’ approval to satisfy certain closing conditions, including obtaining Company shareholder approval;


•	The impact of the Merger on third party relationships;


•	The ability to resolve favorably the alleged events of default under the Sixth Amended and Restated Indenture, dated as of January 17, 2014, by and among HLSS Servicer Advance Receivables Trust, Deutsche Bank National Trust Company, HLSS Holdings, LLC, Ocwen Loan Servicing, LLC, Wells Fargo Securities, LLC and Credit Suisse AG, New York Branch;


•	Assumptions about the availability of and our ability to make acquisitions of residential mortgage assets from Ocwen Financial Corporation and its subsidiaries (collectively, "Ocwen") or others on terms consistent with our business and economic model;


•	Estimates regarding prepayment speeds, default rates, delinquency rates, severity, servicing advances, amortization of Notes receivable - Rights to MSRs, custodial account balances, interest income, operating costs, interest costs and other drivers of our results;


•	The potential for fluctuations in the valuation of our Notes receivable - Rights to MSRs and Loans held for investment;


•	The impact of the change in our accounting convention related to the valuation of our Notes receivable - Rights to MSRs and timing and cost of the remediation of a related material weakness in our internal control over financial reporting as described in Part II, Item 4, "Controls and Procedures" of our Amendment No. 1 to Form 10-K filed on August 18, 2014 (the "2013 Form 10-K/A");


•	Assumptions regarding the availability of refinancing options for subprime and Alt-A borrowers;


•	Expectations regarding incentive fees in our servicing contract and the stability of our net servicing fee revenue;


•	Assumptions about the effectiveness of our hedging strategy;


•	Assumptions regarding amount and timing of additional debt or equity offerings;


•	Assumptions related to sources of liquidity, our ability to fund servicing advances, our ability to pursue new asset classes and the adequacy of our financial resources;


•	Assumptions regarding our financing strategy, advance rate, costs and other terms for financing new asset classes;


•	Assumptions regarding margin calls on financing facilities;


•	Changes in rating methodologies by our rating agencies and our ability to obtain or maintain ratings of our financing facilities;


•	Our ability to enforce our contractual remedies against Ocwen;


•	Our status with respect to legal ownership of the rights to mortgage servicing rights we acquired from Ocwen;


•	Our ability to pay monthly dividends;


•	The performance of Ocwen as mortgage servicer;


•	The ability of Ocwen to maintain its residential mortgage servicer ratings and the effects, if any, of any changes in such ratings on our financing arrangements or agreements with Ocwen;


•	Our competitive position;


•	Our dependence on the services of our senior management team;


•	Regulatory investigations and legal proceedings against us;


•	Regulatory investigations and legal proceedings against Ocwen, Altisource or others with whom we may conduct business;


•	Uncertainty related to future government regulation and housing policies;


•	Assumptions regarding our tax rate and decisions by taxing authorities; and


•	General economic and market conditions.

All forward-looking statements are subject to certain risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results, performance or achievements could differ materially from those expressed in, or implied by, any such forward-looking statements. Important factors that could cause or contribute to such difference include those risks specific to our business detailed within this report and our other reports and filings with the SEC, including our 2013 Form 10-K/A and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 (the "Q3 Form 10-Q") filed with the SEC. We undertake no obligation to update or revise forward-looking statements¸ whether as a result of new information, future events or otherwise. You should carefully consider the risk factors described under the heading “Risk Factors” within our 2013 Form 10-K/A, Part I, Item 1A and our Q3 Form 10-Q, Part II, Item 1A .

HOME LOAN SERVICING SOLUTIONS, LTD.

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.



Date: March 3, 2015	By:	/s/ James E. Lauter
		James E. Lauter
		Senior Vice President and Chief Financial Officer (On behalf of the Registrant and as its principal financial officer)