DALLAS & CHICAGO--(BUSINESS WIRE)--Nationstar and the Mortgage Partnership Finance® (MPF) Program announced today that Nationstar Mortgage LLC, an indirectly held, wholly owned, subsidiary of Nationstar Mortgage Holdings Inc. (“Nationstar”, NYSE: NSM) will provide servicing-released execution to the MPF Government MBS product.
Through the MPF Government MBS product, the MPF Program purchases fixed-rate mortgage loans originated by Federal Home Loan Bank members that are insured or guaranteed by the FHA, VA, and USDA through its RHS Section 502 loan program. The MPF Program issues securities guaranteed by the Government National Mortgage Association (Ginnie Mae) backed by these government mortgages. The MPF Government MBS servicing-released option will allow participating members to be more competitive in the communities they serve by providing them a proven outlet for servicing at attractive pricing, which they can pass on to their borrowers.
“Nationstar and the MPF Program are natural partners due to our unwavering commitment to provide customers with home loan solutions at competitive pricing,” said Nationstar President and Chief Executive Officer Jay Bray. “We look forward to providing the Federal Home Loan Banks’ valued members access to our outstanding mortgage servicing experience.”
Nationstar is the fourth largest residential mortgage servicer with industry-leading experience acquiring, boarding, and servicing residential mortgage products.
“We are pleased to announce our partnership with Nationstar, a leading acquirer of Ginnie Mae servicing,” said John Stocchetti, Executive Vice President & Group Head, MPF Program at the Federal Home Loan Bank of Chicago, which operates the MPF Program for the FHLBank System. “Access to Nationstar’s residential mortgage servicing platform and its high-touch personalized service is a valuable enhancement to the product.”
About Nationstar Mortgage
Based in Dallas, Texas, Nationstar Mortgage (NYSE:NSM) is a leading residential mortgage services company dedicated to providing best-in-class customer service. We earn fees through the delivery of quality servicing, origination and transaction based services to our institutional clients and 2.4 million homeowners. Additional corporate information is available on the investors tab at www.nationstarmtg.com.
About the MPF Program
The MPF Program allows participating members of the Federal Home Loan Bank System to sell fixed-rate loans into the secondary mortgage market. To participate in the MPF Program, a financial institution must be a member of a Federal Home Loan Bank that offers the MPF Program. Currently, the Federal Home Loan Banks of Atlanta, Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh, Topeka, and San Francisco purchase loans from participating members through the MPF Program. To learn more about the MPF Program, visit its website, www.fhlbmpf.com. “Mortgage Partnership Finance” and “MPF” are registered trademarks of the Federal Home Loan Bank of Chicago.