Nationstar Buys Bank Of America’s Residential Mortgage Servicing Rights

Posted by Orb Staff on June 05, 2012 No Comments
Categories : Mortgage Servicing

11711_house_for_sale2 Nationstar Buys Bank Of America's Residential Mortgage Servicing Rights Lewisville, Texas-based Nationstar Mortgage Holdings Inc. has announced that its Nationstar Mortgage LLC subsidiary has signed a definitive agreement to acquire approximately $10.4 billion in residential mortgage servicing rights (MSRs), as measured by unpaid principal balance, from Bank of America.

According to Nationstar, the acquired servicing portfolio consists entirely of loans in government-sponsored enterprise pools. Nationstar will fund a portion of the MSR purchase price with the proceeds of a 65% co-investment by Newcastle Investment Corp.

Nationstar expects the loans to transfer from Bank of American next month.

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