Items Tagged with 'Nationstar Mortgage LLC'

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  • Nationstar's Servicer Ratings Docked

    Nationstar Mortgage LLC saw its primary servicer rating for subprime mortgages downgraded one notch on Thursday, with Fitch Ratings moving the Lewisville, Tex.-based servicer from 'RPS2' to 'RPS2-.' The rating agency's servicer rating scale runs from one to five, with one representing the best rating.
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  • Accredited's Loss May Be Gain for Fortress, Nationstar

    Newcastle Investment Corp. (NYSE:NCT) said Friday that it will purchase a $1.7 billion portfolio of approximately 7,300 subprime residential mortgage loans, a portfolio sources have told HW was sold by troubled subprime lender Accredited Home Lenders Holding Company (NASDAQ:LEND). Accredited announced that it had sold $2.7 billion of its loans on March 16, saying the sale -- which was completed at a significant discount -- would generate additional liquidity to allow it to continue to operate. It did not indicate at that time who had purchased the loans, nor the discount associated with the sale. Newcastle is a REIT affiliated with Fortress Investment Group LLC, an investment firm that also owns subprime lender Nationstar Mortgage. Fortress purchased the subprime mortgage banking operations of homebuilder Centex in March 2006 in a deal worth approximately $575 million, which it then renamed Nationstar Mortgage.
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  • Nationstar Completes Acquisition of Champion Mortgage

    Dallas-based Nationstar Mortgage LLC announced Thursday that it has completed the acquisition of the Parsippany, N.J.-based Champion Mortgage origination platform from KeyCorp (NYSE: KEY). The transaction was previously announced December 1, 2006 and includes over 250 employees and four call centers located in Parsippany, N.J., Marlborough, Mass, Melville, N.Y. and Marlton, N.J. The acquisition does not include the $2 billion Champion Mortgage loan portfolio, which was sold separately to HSBC Holdings, Plc.
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