DALLAS--(BUSINESS WIRE)--Nationstar Mortgage Holdings Inc. (NYSE: NSM) (“Nationstar”), a leading residential mortgage services provider, announced today that it has closed on the purchase of mortgage servicing rights with an approximate $8.5 billion unpaid principal balance from a top-four financial institution. This servicing portfolio consists of rights to service loans that are owned, insured or guaranteed by a GSE. In advance of this closing, Nationstar provided all necessary notifications and obtained consent from all required parties.
“We are pleased to have completed this acquisition and welcome our new customers to the Nationstar family. We are confident that we will be able to provide these customers with an exceptional customer experience and look forward to offering solutions that will increase mortgage affordability and preserve homeownership,” Nationstar CEO Jay Bray said. “This acquisition is further evidence that we continue to work relentlessly with all stakeholders including customers, investors and regulators, to demonstrate our commitment to helping homeowners. Working side-by-side with customers and regulators will provide positive solutions for homeowners and improve portfolio performance for investors as we grow our servicing portfolio.”
Since the end of the second quarter 2014, Nationstar has announced the acquisition of $43 billion of servicing portfolios and including this $8.5 billion portfolio, $37 billion has closed-to-date. Nationstar expects to close on the remaining $6 billion by the end of the first quarter of 2015. Nationstar believes that it is one of the best positioned servicers to acquire additional servicing portfolios based on our proven track record of providing solutions to customers, lowering portfolio delinquencies and reducing credit losses. Nationstar continues to evaluate servicing portfolio acquisitions on a prospective basis.
About Nationstar
Based in Dallas, Texas, Nationstar earns fees through the delivery of quality servicing, origination and transaction based services related principally to single-family residences throughout the United States. Additional corporate information is available on the investors tab at www.nationstarmtg.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 closing and boarding future servicing acquisitions and portfolio performance. 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-statements. Certain of these risks and uncertainties are described in the “Risk Factors” section 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 statements 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.