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Tag Archives: Nationstar

Nationstar Suit Questions Servicer’s Authority to Sell Mortgage Notes

A justice for New York's Supreme Court has ordered Nationstar to stop the auction of some of its mortgage notes through Auction.com. KIRP LLC filed a complaint against Nationstar over its selling of non-performing loans backing securities. KIRP argues that as master servicer, Nationstar has the authority to foreclose or modify the loans, not to sell them. An analysis of the case by Barclays determined it is unclear what the courts will decide and if the decision applies across the board, ""given the wide variation in the language of the servicing agreements.""

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Nationstar Announces Acquisition of Equifax Settlement Services

Nationstar Mortgage Holdings Inc., a large Texas-based residential mortgage services company, announced the acquisition of Equifax Settlement Services Holding, LLC (ESS) Thursday. Nationstar said the acquisition occurred February 6 and revealed plans to combine ESS with its Solutionstar platform and rebrand ESS as Solutionstar Settlement Services.

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KB Home, Nationstar Partner to Form Mortgage Company

One of the nation's largest homebuilders is partnering up with one of the fastest growing mortgage holding companies to create a new entity. In a joint announcement, KB Home and Nationstar Mortgage LLC announced an agreement to form Home Community Mortgage, LLC, a limited liability company offering a range of mortgage banking services to KB Home customers.

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Nationstar Purchases $215B in MSRs from BofA

Nationstar Mortgage LLC, based in Lewisville, Texas, has agreed to purchase residential mortgage servicing rights (MSRs) in the amount of $215 billion in unpaid principal balance from Bank of America, the company announced Monday. Nationstar entered the agreement with backing from Newcastle Investment Corp., based in New York, and Fortress Fund, based in Barbados. Each company will retain one-third interest in the MSRs, and Nationstar will service all the loans. The purchase price for the portfolio is $1.3 billion.

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Mortgage Daily Releases Q3 List of Top 10 Servicers

Mortgage Daily released a list of the top 10 servicers based on portfolio size as of September 30. However, Mortgage Daily says spots 4-6 on the third quarter list could change due to recent acquisitions from Ocwen Financial Corporation, Nationstar Mortgage, and Walter Investment Management. For now, top servicers on the list were Wells Fargo, Bank of America, Chase, Citigroup, and U.S. Bank. Ocwen, which is not on the top 10 list, is expected to move into a top five position.

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Nationstar Completes Acquisition of Aurora

Nationstar Mortgage announced Friday it has completed the acquisition of approximately $63.7 billion in residential mortgage servicing rights (MSRs) from Aurora Bank and its subsidiary, Aurora Loan Services LLC.

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Nationstar Mortgage Acquires Servicing Rights from BofA

Nationstar Mortgage Holdings Inc. announced Tuesday that Nationstar Mortgage LLC has signed a definitive agreement to acquire approximately $10.4 billion in residential mortgage servicing rights from Bank of America, National Association. The servicing portfolio consists entirely of loans in GSE pools.

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