Nationstar Mortgage Announces Completion of Greenlight Financial Acquisition – NMP Skip to main content

Nationstar Mortgage Announces Completion of Greenlight Financial Acquisition

NationalMortgageProfessional.com
Jun 03, 2013

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. Greenlight has proven expertise in television, radio, internet and other mass marketing media and will further diversify Nationstar’s origination channels and capabilities. The acquisition of Greenlight provides additional capacity to process HARP and recapture loans while profitably creating long-term servicing assets for Nationstar. “Greenlight provides Nationstar with an established brand, a proven management team with a history of success, and an opportunity to profitably expand the platform on a national basis,” said Nationstar CEO Jay Bray. “We are proud to add Greenlight’s employees to the Nationstar enterprise and are excited for the opportunity to further grow the Greenlight platform. We expect Greenlight to immediately produce results for Nationstar by adding more than $0.70 of EPS on an annualized basis.” Greenlight currently has more than 700 employees with offices in Irvine, Calif.; San Diego, Calif.;and Las Vegas. Greenlight is expected to originate more than $8 billion annually.
Published
Jun 03, 2013