Sec Form 4 Filing - Deer Park Road Management Company, LP @ Front Yard Residential Corp - 2019-03-15

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Deer Park Road Management Company, LP
2. Issuer Name and Ticker or Trading Symbol
Front Yard Residential Corp [ RESI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
1195 BANGTAIL WAY
3. Date of Earliest Transaction (MM/DD/YY)
03/15/2019
(Street)
STEAMBOAT SPRINGS, CO80487
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/15/2019 X 300,000 A $ 10 6,191,766 I See footnotes ( 1 ) ( 3 )
Common Stock 03/15/2019 X 200,000 A $ 10 295,000 I See footnotes ( 2 ) ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Call Option (right to buy) $ 10 03/15/2019 X 3,000 11/09/2018 03/15/2019 Common Stock 300,000 $ 0 0 I See footnotes ( 1 ) ( 3 )
Call Option (right to buy) $ 10 03/15/2019 X 2,000 11/09/2018 03/15/2019 Common Stock 200,000 $ 0 0 I See footnotes ( 2 ) ( 3 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Deer Park Road Management Company, LP
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
Deer Park Road Management GP, LLC
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
Deer Park Road Corp
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
Craig-Scheckman Michael
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
AgateCreek LLC
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
Burg Scott Edward
1195 BANGTAIL WAY
STEAMBOAT SPRINGS, CO80487
X
Signatures
Deer Park Road Management Company, LP, By: /s/ Bradley W. Craig, Chief Operating Officer 03/19/2019
Signature of Reporting Person Date
Deer Park Road Management GP, LLC, By: /s/ Deer Park Road Corporation, its managing member, By: /s/ Bradley W. Craig, attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Corporation 03/19/2019
Signature of Reporting Person Date
Deer Park Road Corporation, By: /s/ Bradley W. Craig, attorney-in-fact for Michael Craig-Scheckman, Chief Executive Officer of Deer Park Corporation 03/19/2019
Signature of Reporting Person Date
Michael Craig-Scheckman, By: /s/ Bradley W. Craig, attorney-in-fact for Michael Craig-Scheckman 03/19/2019
Signature of Reporting Person Date
AgateCreek LLC, By: /s/ Bradley W. Craig, attorney-in-fact for Scott Edward Burg, Sole Member of AgateCreek LLC 03/19/2019
Signature of Reporting Person Date
Scott Edward Burg, /s/ Bradley W. Craig, attorney-in-fact for Scott Edward Burg 03/19/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These shares of the Issuer's common stock ("Shares") and options to acquire Shares ("Options") are held for the account of STS Master Fund, Ltd. Deer Park Road Management Company, LP ("Deer Park") serves as investment adviser to STS Master Fund, Ltd.
( 2 )These Shares and Options are held for the account of SBF Opportunities Master Fund Limited. Deer Park serves as investment adviser to SBF Opportunities Master Fund Limited.
( 3 )Deer Park Road Management GP, LLC ("DPRM") is the general partner of Deer Park. Each of Deer Park Road Corporation ("DPRC") and AgateCreek LLC ("AgateCreek") is a member of DPRM. Michael Craig-Scheckman is the Chief Executive Officer of each of Deer Park and DPRC and the sole owner of DPRC. Scott Edward Burg is the Chief Investment Officer of Deer Park and the sole member of AgateCreek. Each Reporting Person disclaims beneficial ownership of the Shares and Options except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the Shares or Options for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:
Exhibit 24.1 - Power of Attorney for Michael Craig-Scheckman (incorporated by reference to the Power of Attorney filed as Exhibit 24.1 to the Form 4 filed by the reporting persons on December 7, 2018); Exhibit 24.2 - Power of Attorney for Scott Edward Burg (incorporated by reference to the Power of Attorney filed as Exhibit 24.2 to the Form 4 filed by the reporting persons on December 7, 2018).

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