Items Tagged with 'Nationstar Mortgage'

ARTICLES

Nomura: Don't make too much out of Nationstar CFO's departure

Appears there's nothing "behind the curtain"
Earlier this week, Nationstar Mortgage surprised the market a bit when it announced that its chief financial officer, Robert Stiles, is departing the company. But according to a report from Nomura, not only does there not appear to be a hidden story behind Stiles' departure, the company likely won’t suffer at all with Amar Patel serving as interim CFO.
Read More

Nationstar names interim CFO after Robert Stiles departs company

Amar Patel will serve as interim CFO
One month ago, Nationstar Mortgage celebrated the fact that its revenue grew significantly in the fourth quarter, climbing nearly 46% year-over-year. Now, Nationstar will have a new person in charge of that money as the nonbank announced Wednesday that it named Amar Patel, who previously spent 10 years with the company, as its interim chief financial officer.
Read More

Nationstar facing CFPB fine over HMDA violations

Discloses that company is negotiating with CFPB
Nationstar Mortgage is facing a fine from the Consumer Financial Protection Bureau over the nonbank’s alleged failure to comply with the reporting requirements of the Home Mortgage Disclosure Act, the company revealed Thursday.
Read More

Nationstar officially begins transition to Mr. Cooper

Communication sent to customers, MrCooper.com re-launched
When HousingWire sat down late last year with Nationstar Mortgage CEO Jay Bray to discuss the company's transformation into Mr. Cooper, Bray said the rebrand is much more than just a new name for the company. Now, it appears that the transition is officially underway, as some of Nationstar’s customers recently began receiving letters notifying them that the company plans to rebrand as Mr. Cooper "later this year."
Read More

Here's how and why CitiMortgage is leaving mortgage servicing

A deeper dive into a complex deal
CitiMortgage surprised few in the housing business on Monday when it announced that it agreed to a massive mortgage servicing rights deal with New Residential Investment and Nationstar Mortgage. As it often is with deals of this type, the devil is in the details. And one of the details of this deal is that the MSR sale is a precursor to CitiMortgage completely exiting the mortgage servicing business. Here’s a breakdown of how the deal works, and why Citi plans to leave mortgage servicing behind.
Read More

NY AG reportedly investigating Nationstar Mortgage, OneWest Bank reverse mortgage divisions

Still in early stages
New York is ramping up its focus on the practices of reverse mortgage lenders as of late. After introducing plans to increase the regulations surrounding reverse mortgages in the state earlier this month, New York is now reportedly also investigating practices related to the servicing of reverse-mortgages at Financial Freedom, a part of OneWest Bank, and at Champion Mortgage, a unit of Nationstar Mortgage.
Read More

Exclusive: Nationstar CEO Jay Bray on impact of 'surprising' election; higher interest rates

Plus, what does potential regulatory rollback mean for Nationstar's future?
Count Nationstar Mortgage CEO Jay Bray among those who were surprised by the election of Donald Trump, but Bray tells HousingWire that he is looking forward to working with the incoming Trump administration and is cautiously optimistic on the impact that the president-elect could have on the financial services business. Here's part two of HousingWire's exclusive interview with Bray.
Read More

Exclusive: Nationstar CEO Jay Bray on Mr. Cooper, the company's future

HousingWire gets an inside look at Nationstar's big plans
Given the company’s recent radio silence on its massive rebranding efforts, it may seem like Nationstar Mortgage’s transformation into Mr. Cooper is in a perpetual holding pattern. But when one visits Nationstar’s headquarters in the Dallas suburb of Coppell, it’s clear that Mr. Cooper is both the company’s present and its future. In an exclusive interview, HousingWire sat down with Nationstar CEO Jay Bray to find out more about Mr. Cooper and what it means for Nationstar.
Read More

Nationstar Mortgage servicing portfolio now bigger than ever

Net income hits $51 million
The news only got better for Nationstar Mortgage Holdings in the third quarter, as the mortgage servicer recorded its largest servicing portfolio in its history. The positive results are a continued boost from its results last quarter when it reported the best quarter since the second quarter of 2015, coming off a shaky start to the year.
Read More

Fitch: Nationstar's internal improvements solidify servicer standing

Ratings agency cites improved borrower communication as positive
Earlier this year, Nationstar Mortgage announced plans to completely rebrand itself, combining its originations and servicing business under the name Mr. Cooper. At the heart of the company’s rebranding plan was its effort to "change the home loan experience." Reviews are now beginning to come in on Nationstar’s new customer focus, and the early reviews are positive.
Read More