New Residential to Buy Home Loan Servicing for $1.3 Billion

New Residential Investment Corp., a U.S. real estate investment trust, agreed to buy Home Loan Servicing Solutions Ltd. for about $1.3 billion.

New Residential will acquire the outstanding shares of Home Loan, which is based in the Cayman Islands, for $18.25 each, according to a statement on Sunday. That’s 9 percent more than the closing price on Friday.