Nationstar Establishes Subservicing Relationship with New Residential
January 30 2017 - 6:02AM
Business Wire
Nationstar Mortgage Holdings Inc. (NYSE: NSM) (“Nationstar”)
announced today that it has entered into a subservicing agreement
with New Residential Mortgage LLC, a wholly owned subsidiary of New
Residential Investment Corp. (NYSE: NRZ) (“New Residential”), a
leading investor in mortgage servicing related assets. Nationstar
anticipates subservicing up to $97 billion UPB mortgage loans
underlying the mortgage servicing rights (“MSRs”) that New
Residential has agreed to purchase from CitiMortgage, Inc.
"This announcement further demonstrates Nationstar’s role as a
leading subservicing provider to the residential mortgage servicing
market. We look forward to welcoming over 750,000 customers to
Nationstar, and believe our strategic relationship with New
Residential will create meaningful value for these customers and
our shareholders,” said Jay Bray, Chairman and Chief Executive
Officer of Nationstar.
Nationstar expects the MSRs to board beginning in the second
quarter of this year and continue boarding throughout 2017. The
transfer of subservicing to Nationstar is subject to GSE and other
regulatory approvals and certain customary closing conditions.
About Nationstar Mortgage LLC
Based in Dallas, Texas, Nationstar provides quality servicing,
origination and transaction-based services related principally to
single-family residences throughout the United States. With
experience spanning more than 20 years, Nationstar is one of the
largest servicers in the country. Additional details about
Nationstar can be found at www.mynationstar.com.
Forward Looking Statements
Any statements in this release that are not historical or
current facts are forward looking statements. These forward looking
statements include, but are not limited to, statements regarding
the timing of the transaction, regulatory approval and satisfaction
of closing conditions. Forward looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance, or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward looking statements. Certain of
these risks and uncertainties are described in the "Business" and
"Risk Factors" sections of our most recent annual report and other
required documents as filed with the SEC which are available at the
SEC’s website at http://www.sec.gov. Nationstar undertakes no
obligation to publicly update or revise any forward looking
statement or any other financial information contained herein, and
the statements made in this press release are current as of the
date of this release only.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170130005321/en/
Nationstar Mortgage Holdings Inc.For Investor Inquiries
Contact:Robert Stiles, 972-316-5383orFor Media Inquiries
Contact:Kelly Ann Doherty, 469-549-3196
Nationstar Mortgage Holdings (NYSE:NSM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nationstar Mortgage Holdings (NYSE:NSM)
Historical Stock Chart
From Sep 2023 to Sep 2024