Nationstar Mortgage Holdings Inc. announced today that it has closed on the purchase of mortgage servicing rights with an approximate $8.5 billion unpaid principle balance from a top-four financial institution.
The portfolio, which RMD confirmed does not include any reverse mortgage servicing rights, consists of rights to service forward loans that are owned, insured or guaranteed by a government-sponsored enterprise (GSE).
“This acquisition is further evidence that we continue to work relentlessly with all stakeholders including customers investors and regulators, to demonstrate our commitment to helping homeowners,” said Nationstar CEO Jay Bray, in a statement. “Working side-by-side with customers and regulators will provide positive solutions for homeowners and improve portfolio performance for investors as we grow our servicing portfolio.”
Since the end of the second quarter of 2014, Nationstar has announced the acquisition of $43 billion of servicing portfolios and, including this $8.5 billion portfolio, $37 billion has closed to date.
Nationstar expects to close on the remaining $6 billion by the end of the first quarter of 2015. The company continues to evaluate servicing portfolio acquisitions on a prospective basis.
Written by Emily Study