Nationstar hungry for more MSRs
But only as long as the numbers work
Nationstar Mortgage(NSM) said it has set the standard for being a third party to MSR transactions and it sees growth in that sector as a big opportunity going forward.
But the company is not acquiring MSRs just for volume.
Nationstar executives spoke Wednesday morning at the 15th Annual Credit Suisse Financial Services Forum at the Boca Raton Resort and Club in Boca Raton, Fla.
Rather than focusing on buying up volume, executives said, if price is not right it will not move on an MSR deal, and Nationstar believes it has the credibility to attract the right institutions looking to do business.
That deal is now on hold because of the New York Department of Financial Services.
Nationstar told those in attendance that it is looking to deleverage some of its debt and that it remains excited about future opportunities.
It will continue to hit targets for run rates and it sees ample opportunity in the existing portfolio.
Asked about the Department of Financial Services crackdown on the Wells Fargo-Ocwen deal, the company said that interaction and scrutiny by regulators is now just “part of the business” but it doesn’t see the additional scrutiny as an impediment.