Items Tagged with 'Nationstar'

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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.
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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.
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Nationstar revenue increases 45% in Q4

Net income increases nearly 500%
Nationstar finished 2016 with a bang, increasing its revenue by 45% and its net income by nearly 500%. But those aren’t the only increases the company saw during the fourth quarter. Nationstar’s CEO explains what this means for the company in 2017.
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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."
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From HW Magazine

Mortgage servicing boom

Servicing is primed to take off in 2017, spurring banks to jump back into the business
In the aftermath of the financial crisis, low interest rates and strict capital requirements combined to make servicing a losing proposition for many banks. The sharp glare of regulators didn’t help either, as banks and nonbanks navigated the already thankless waters of servicing with a new target on their backs. But all that changed abruptly in the fourth quarter of 2016 with the one-two punch of a Trump win and a rate hike by the Federal Reserve.
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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.
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CitiMortgage exits mortgage servicing business

Nationstar anticipates subservicing up to $97 billion
CitiMortgage announced Monday morning that it plans to exit mortgage servicing, thanks in part to an agreement with New Residential Investment and Nationstar. The agreement will see the mortgage servicing rights for $97 billion in unpaid principal balance transferred from Citi to Nationstar.
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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.
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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.
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Nationstar transfers all REO auction activity to Xome

Expands breadth of offerings
While only a little more than a year in existence, Xome’s role as a wholly owned subsidiary of Nationstar Mortgage continues to fluctuate. The end-to-end digital platform for real estate is adding another thing to its platform. Nationstar Mortgage now fully transferred all REO auction activity to Xome, according to Fitch Ratings.
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