Home Loan Servicing Solutions (HLSSF) 8-K This presentation contains forward-looking statements that involve substantial risks and uncertainties. All

Investor Presentation

February 2013

Exhibit 99.1

2

FORWARD-LOOKING STATEMENT:

This presentation contains forward-looking statements that involve substantial risks and uncertainties. All

statements, other than statements of historical facts, included in this presentation, including, without

limitation, statements regarding the assumptions we make about our business and economic model, our

dividend policy, including expected yields, business strategy and other plans and objectives for our future

operations, are forward looking statements. These forward-looking statements are subject to 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. We have included important factors in

the cautionary statements made in our Annual Report on Form 10-K, particularly under the headings “Risk

Factors”

and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”

that we believe could cause actual results or events to differ materially from those expressed or implied by

the forward looking statements that we make in this presentation. In light of the significant uncertainties in

these forward-looking statements, you should not regard these statements as a representation or warranty

by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all.

Unless required by law, we undertake no obligation to publicly update or revise any forward-looking

statements to reflect new information or future events or otherwise.

NON-GAAP MEASURES:

In addition to financial measures prepared in accordance with generally accepted accounting principles

(“GAAP”), this presentation also contains references to cash generated available for distribution, servicing

revenue and servicing expense,

which are non-GAAP performance measures. We believe these non-GAAP

performance measures may provide additional meaningful comparisons between current results and results

in prior periods. Non-GAAP performance measures should be viewed in addition to, and not as an

alternative for, the Company’s reported results under accounting principles generally accepted in the United

States.

Leadership Team

William C. Erbey

Chairman of the Board

John P. Van Vlack

President and Director

James E. Lauter

Chief Financial Officer

Richard Delgado

Treasurer

Michael J. McElroy

General Counsel

Bryon E. Stevens

Investor Relations & Capital Markets

3

4

HLSS Overview

HLSS is an independent acquirer of high-quality Mortgage Servicing Assets

Mortgage servicing advances

Fees from servicing non-agency mortgage loans (Rights to MSRs)

Objective is to generate a stable, recurring, fee-based earnings stream

Low

fixed

infrastructure

costs

given

all

key

servicing

functions

outsourced

to

Ocwen

Equity

market

capitalization

has

grown

from

~$200

million

at

IPO

in

March

2012

to

$1.2 billion today

Follow-on offerings in September ($250MM) and December ($500MM)

Business

Growth Plan

Remaining Ocwen portfolio of $140 billion UPB available for purchase using

excess cash or future equity raises

Ability to close purchases simultaneous to funding prevents earnings drag

and dilution

WKSI eligibility will simplify future offerings

Value

Proposition

HLSS’

assets represent a 5% first-priority claim against residential real estate

$3.6 billion of assets collateralized by $79.4 billion UPB of loans serviced

7.0%

annualized

dividend

yield

1

Opportunity to invest in consolidating market largely inaccessible to investors

Unique business model with limited correlation to the economy

1

Based

on

the

closing

share

price

of

$22.17

per

share

on

February

7,

2013.

5

Mortgage Servicing

Back office for non-agency mortgage

market

Receives payments from homeowner

Distributes payments to loan owner

Advance payments for delinquent

borrowers (Servicing Advances)

Repaid from borrower payments and

liquidation proceeds

Paid fixed fee (MSR Asset)

No exposure to mortgage credit losses

Borrower

Borrower

Borrower

Borrower

Borrower

Monthly P&I

+Liquidation Proceeds

Monthly P&I

+ Liquidation Proceeds

–

Servicing Fees

–

Advances Repaid

New

Repaid

Servicing

Advances

Servicer

Bond Holders

6

~95%

decline

in

real

estate

value

would

be

required

to

impair

HLSS’

assets

Minimal credit risk due to

over collateralization

Advances recovered at

“top-of-the-waterfall”

from loan proceeds

If loan proceeds are ever

insufficient, recovery is

from collections on other

loans in RMBS trust

Assets

Are

a

5%

First-Priority

Claim

$79.4 Billion

UPB

$75.8 Billion

$3.6 Billion

95.5%

Downside

Protection

HLSS Assets

7

Limited Valuation Risk

Cash &

Reserves

$183.4

Ended year with Total Assets of $3.6 billion

92% of assets are Servicing Advances or

Cash which are carried at par and have no

valuation risk

8% of assets have a stable valuation

history

Rights to MSRs represent the present

value of future servicing fees, less

expenses

No correlation between prepayment

speed and interest rates on non-

agency mortgages

No change in servicing asset valuations

December 31, 2012

($ in Millions)

1

Rights to

MSRs

$303.7

Servicing

Advances

$3,098.2

Total Assets

$3,585.3

100%

Servicing Advances & Cash

$3,281.6

92%

MSRs

303.7

8%

Reserves

associated

with

the

Advance

Financing

Facility

1

8

Stable Revenue and Expenses

Predictable Revenue Stream

Known Expense Structure

Hedged Interest Rate Exposure

Stability of assets results in predictable earnings

Revenues based on asset value

Contractual annual revenue based on UPB

Expenses based on asset value

Sub-servicing fees paid to Ocwen also based on UPB

Ocwen bears operational risk and servicing cost volatility

MSR amortization is expected to remain stable

Interest rate exposure hedged through 60 month interest rate swaps

9

22 bps

Subservicing

Fee paid to

Ocwen

16 bps

Incentive Fee

6 bps

Base Fee

~73%

Downside

Protection

~27%

Base Fee

HLSS’

largest expense

can be reduced by up to

~73% to stabilize earnings

Protects against higher

interest expense if

Servicing Advances

increase

HLSS benefits from lower

interest expense if

Servicing Advances

decrease

Subservicing Fee Adjusts to

Support Targeted Yield

Amounts

based

on

50bps

servicing

fee

earned

and

28

bps

retained

fee

in

Q4

2012.

The

incentive

fee

is

the

servicing

fee

minus

the

base

fee

and

the

retained

fee.

Incentive

fee

establishes

an

effective

floor

on

yield

while

maintaining

upside

potential

10

Ocwen Contract Ties Servicing

Fees to Advance Ratio

Scheduled step-downs in the retained fee and advance ratio

3.65%

3.38%

3.17%

3.01%

2.86%

2.66%

2.49%

2.38%

3.90%

1.75%

2.50%

3.25%

4.00%

20.0

22.0

24.0

26.0

28.0

Retained Fee

Target Advance Ratio

Actual Advance Ratio

3.87%

Retained fees are servicing fees net of subservicing expenses paid to Ocwen

Average decreased from 29.8 to 27.9 bps in Q4 due to scheduled step-downs and portfolio

additions

Ocwen’s incentive fee was reduced by $1.0 million in Q4 due to the advance ratio overrun

27.9

27.1

26.1

25.5

24.7

24.0

23.2

22.7

22.2

11

Improved Financing Terms

On January 22, 2013, completed the

issuance of $650 million of one-year, $350

million of three-year and $150 million of

five-year fixed rate term notes secured by

servicing advance receivables

Weighted average spread over

LIBOR of 0.94% is down from a

1.55% spread on similar notes in

the last ABS note issuance

Reduced financing costs on existing VFN

capacity from a weighted average spread

over LIBOR of 2.32% to 1.95%

Longer Note Maturites

1

Lower Effective Interest Rate

1

1

Pro forma estimate based on borrowing at 12/31/2012

2

Assumes 2013-T2 issuance on 01/01/13 and VFN repricing

3

Maximum borrowing capacity

12

$60.60

$14.35

27.08

11.55

6.36

1.26

Servicing   

revenue

Subservicing   

fees

Interest    

expense

Amortization of

MSRs

Operating

expenses and

other

GAAP       

Net Income

Components of Income

Incentive

Results for the fourth quarter include a $0.03 per share impact due to a lower amortization   

rate of 13.3% versus the 15.0% benchmark rate

Earnings exceeded dividends declared during the quarter by $0.6 million

Fourth Quarter 2012 Earnings

2

($ in Millions)

Base

Basis points

per UPB¹

(Annualized):

1

Calculated using average UPB for 4Q 2012

2

Operating expenses and taxes, net of interest income and related party revenue

Retained Fee

50 bps

22 bps

10 bps

5 bps

1 bps

12 bps

28

bps

13

$14.35

$34.85

$21.11

6.36

11.35

2.79

13.74

Net Income

Amortization of

MSRs

Decrease in

advance

haircut

Changes in

other assets /

liabilities

Cash generated

available for

distribution

Dividends

declared

Cash    

available for

reinvestment

Cash generated available for distribution is 2.5x dividend declared during Q4

Cash available for reinvestment of $21.1 million allows HLSS to replenish and grow

its servicing portfolio through additional purchases from Ocwen

1

($ in Millions)

Fourth Quarter 2012 Cash Flow

Components of Cash Flow

2.5x Dividend

Coverage

1

Servicing advances decreased by $86.6 million freeing up cash “haircut” component of financing

14

$13.67

$15.76

2.06

0.44

0.42

0.01

September   

2012

Follow-on

Offering

Net Income

Dividends

Hedge

Revaluation

December   

2012

Accretive Follow-on Offering

Issuance

of

shares

at

$19.00

adds

$2.06

to

HLSS’

book

value

per

share

Remaining change in Net Book Value per share is explained by earnings in excess of

dividends declared and a change in value of the interest rate swaps

No change in book value per share is attributable to the valuation of servicing assets

Net Book Value per share

`1

1

Reflects

the

monthly

dividend

of

$0.11,

$0.12

and

$0.12

per

share

declared

and

paid

for

October,

November

and

December,

respectively.

15

Equity and Debt Yields

Note: Earnings yields based on annualized per-share earnings guidance of $0.325 (Q1 earnings transcript), $0.325 (Q2 earnings transcript), $0.385 (Q3 earnings transcript) and $0.405

(11/15/2012 press release); calculation at a given date contains most recent guidance divided by the share price. Q4 earnings yield point based on annualized per-share earnings of $0.44

divided by the 2/7/2013 share price of $22.17.

Debt yields based on the most recent, 3-year BBB-rated servicing advance securitization at each respective date.

Prospective purchasers should not place undue reliance on expectations or guidance shown above, and the presentation of guidance and results from prior periods should not be regarded

as a representation that similar or better results will be achieved in future periods.

16

Investment Highlights

Attractive risk-adjusted returns relative to other yield oriented investments

7.0%

annualized

dividend

yield

1

based

on

current

share

price

23 times over-collateralization virtually eliminates credit risk

Asset

composition

–

92%

servicing

advances

and

cash

–

mitigates

valuation

risk

Profits

purchased

up

front

–

targeted

return

not

dependent

on

asset

appreciation

or

valuations

Ocwen retains all operating risk under an incentive contract designed to stabilize HLSS earnings

Solid downside protection with limited exposure to a down economy but opportunity to increase

dividend in an improving economy with rising interest rates

Cash flow in excess of dividend used to replenish and increase asset base in accretive flow

transactions

High Quality Assets

Stable Earnings Stream

Large Positive Alpha

1

Based

on

the

closing

share

price

of

$22.17

per

share

on

February

7,

2013.