Nationstar’s servicing portfolio, as measured by unpaid principal balance, increased 50 percent to end the first quarter at $312 billion compared to the prior quarter ending UPB of $208 billion. Q1’13 ending UPB was up 203 percent over Q1’12 ending UPB of $103 billion. In April, Nationstar closed on a $22 billion agency servicing portfolio acquisition. Pro forma for the agency portfolio acquisition and the closing of the Bank of America PLS portfolios, expected to occur in the second quarter, Nationstar’s UPB is approximately $435 billion.
“We generated strong momentum across our mortgage services platform in Q1,” said Jay Bray, Chief Executive Officer of Nationstar. “In servicing we grew our portfolio organically and through high-return acquisitions. In originations our quarterly activity increased across the board, and we see increased HARP potential. Solutionstar is making solid progress on its initiatives as it builds its high-margin, fee-based business.”
“We are excited to announce the strategic acquisition of Greenlight Financial Services, a leading direct-to-consumer originator that provides us with another profitable lending channel for servicing asset generation,” Bray continued. “We welcome the Greenlight employees to the Nationstar family. The macro landscape offers tremendous opportunities to Nationstar, and we will continue to be opportunistic as we focus on the customer experience, asset performance and shareholder value.”