Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Nationstar Mortgage LLC

New Residential Completes Closing of Excess MSRs

Handshake_Money_Pic

New Residential Investment Corporation has announced that it has completed an additional closing of excess mortgage servicing rights (MSRs) that it agreed to acquire as part of the previously announced transaction between Nationstar Mortgage LLC and Bank of America. This closing relates to loans held in private label securitizations with an unpaid principal balance of $43 billion, which represents approximately 45 percent of the total PLS UPB associated with the Transaction.Click to continue

Nationstar Mortgage Announces Completion of Greenlight Financial Acquisition

Nationstar_Logo

Nationstar Mortgage Holdings Inc. has announced that its indirectly held wholly-owned subsidiary, Nationstar Mortgage LLC, completed the acquisition of the origination platform and unfunded loan pipeline from Greenlight Financial Services. The acquisition price for these assets is up to $75 million, subject to certain post-closing contingencies, and was funded with cash. Greenlight, a direct-to-consumer originator based in Irvine, Calif., utilizes a high-volume, rapid turn time funding model with a focus on providing exceptional customer service.Click to continue

Fannie Mae Measures Servicer Performance in 2012

Fannie_Logo_01_10_12

Fannie Mae has announced Servicer Total Achievement and Rewards (STAR) Program's Scorecard results for 2012, the program that measures servicers across key operational and performance areas relative to their peers, and acknowledges their achievement through STAR designations. Final STAR designations will be communicated in April and will be based on the program's two methods of servicer evaluation: Scorecard metrics related to customer service and foreclosure prevention and operational assessments of the servicer's processes, policies and capabilities.Click to continue

Nationstar to Acquire Approximately $215 Billion in Bank of America Assets

Nationstar Logo

Nationstar Mortgage Holdings Inc. has announced that Nationstar Mortgage LLC, a wholly-owned subsidiary, has signed a definitive agreement to acquire nearly $215 billion in residential mortgage servicing rights (MSRs), as measured by unpaid principal balance (UPB) as of Nov.Click to continue

Nationstar Mortgage Closes Servicing Rights Deal With Aurora

Nationstar_Logo

Nationstar Mortgage Holdings Inc. has announced that Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary, has completed the acquisition of approximately $63.7 billion in residential mortgage servicing rights (MSRs), as measured by unpaid principal balance, and certain other assets from Aurora Bank FSB and its wholly owned subsidiary Aurora Loan Services LLC, a subsidiary of Lehman Brothers Bancorp Inc.Click to continue

Nationstar Mortgage to Acquire $10.4 Billion in Servicing Assets From Bank of America

Nationstar_Logo

Nationstar Mortgage LLC, a wholly-owned subsidiary of Nationstar Mortgage Holdings Inc., has signed a definitive agreement to acquire approximately $10.4 billion in residential mortgage servicing rights, as measured by unpaid principal balance, from Bank of America. The acquired servicing portfolio consists entirely of loans in government-sponsored enterprise (GSE) pools. Nationstar will fund a portion of the MSR purchase price with the proceeds of a 65 percent co-investment by Newcastle Investment Corporation.Click to continue

Ally Financial Mortgage Subsidiary ResCap Files for Chapter 11

Bankruptcy_Pic.jpg

Residential Capital LLC (ResCap), a subsidiary of Ally Financial Inc., has announced that its Board of Directors voted to file for Chapter 11 protection along with 50 of its subsidiaries. ResCap’s mortgage origination, servicing and other business activities, conducted through its subsidiaries, including GMAC Mortgage, will continue to operate as the Chapter 11 proceeds. Undergoing the Chapter 11 process will:Click to continue

MetLife Exits the Reverse Mortgage Business and Sells Reverse Portfolio to Nationstar Mortgage

MetLife_Pic

MetLife Inc. has announced that it is exiting the reverse mortgage business, and that Nationstar Mortgage LLC will be purchasing MetLife Bank's reverse mortgage servicing portfolio. The transaction is subject to certain regulatory approvals and other customary closing conditions. MetLife Bank will no longer accept new reverse mortgage loan applications and registrations.Click to continue

Suit Filed in California Against Chase for Misleading HAMP Mortgagors

Court/Credit: Comstock

Keller Rohrback LLP has announced that a class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all mortgagors in the State of California whose home mortgage loans are serviced by Chase Home Finance LLC or JPMorgan Chase Bank and who (a) have attempted to obtain permanent loan modifications from Chase through the Home Affordable Modification Program (HAMP) or similar loan modification programs; and (b) have made payments pursuant to a HAMP Trial Period Plan (TPP) or any other similar temporary modification agreement offerClick to continue

Class Action Complaint Filed Against EMC Mortgage and Bear Stearns for Loan Mod Breach

Courthouse/Credit: Photodisc

Keller Rohrback LLP has announced that a class action has been filed in the United States District Court for the Eastern District of Washington on behalf of all mortgagors in the State of Washington whose home mortgage loans are serviced by EMC Mortgage Corporation and who (a) have attempted to obtain loan modifications of their loan terms from EMC; and (b) have made payments pursuant to a "Repayment Agreement," a Home Affordable Modification Program (HAMP) trial modification plan, or any other temporary modification plan.Click to continue