Nationstar Mortgage Holdings Inc. (NYSE: NSM) announced Tuesday it is hiring technology executive Kal Raman as CEO of Solutionstar, a Nationstar subsidiary that provides tech- and data-driven solutions to homebuyers, home sellers, real estate agents and companies engaged in servicing and originating mortgage loans.
Raman brings to the position more than two decades of experience in technology and retail businesses, and has an extensive record of leadership at consumer-focused technology companies, including Groupon, eBay and Amazon.
“Kal has a long record of success leveraging technology and innovation to deliver a high-quality customer experience, and we’re thrilled that his expertise will now help Solutionstar bring that kind of innovation to the real estate industry,” said Jay Bray, CEO of Lewisville, Texas-based Nationstar.
Solutionstar’s tech-based real estate services are designed to make buying and selling a home easier and more transparent for consumers and real estate professionals.
“Kal’s appointment is a natural next step in Solutionstar’s growth, and his proven technology, e-commerce and operational experience will be a critical asset to the Solutionstar team as it capitalizes on these opportunities and continues its growth as a national leader in real estate technology,” Bray said.
As CEO of Solutionstar, Raman will oversee all activities at the company, including integrating Real Estate Digital (RED) – a real estate data aggregation company Solutionstar acquired in May – into its existing services, and assembling other technology innovators and leaders to advance the company.
Raman will be based in the Seattle, Wash., area, a technology hub where the company intends to open a new office.
In June, Nationstar confirmed that it will no longer originate reverse mortgages through its Greenlight Financial platform, but would continue to services its home equity conversion mortgage servicing portfolio, valued at nearly $30 billion.
After acquiring Greenlight Financial Services in 2013, including both forward and reverse originations platforms, the company planned to wind down the reverse portion of the business in July.
Written by Emily Study