Nationstar Mortgage Completes Acquisition Of Greenlight Financial Services

Posted by Patrick Barnard on June 03, 2013 No Comments
Categories : Residential Mortgage

Nationstar Mortgage LLC, a subsidiary of Nationstar Mortgage Holdings Inc., has completed its acquisition of the origination platform and unfunded loan pipeline of Greenlight Financial Services for about $75 million.

The all-cash deal, which is subject to certain post-closing contingencies, gives Nationstar additional capacity to process HARP and recapture loans while profitably creating long-term servicing assets. What's more, Nationstar will benefit from Greenlight's expertise in television, radio, Internet and other mass marketing media.

‘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.

No word yet on whether Nationstar plans to retain all of Greenlight's approximately 700 employees.

Greenlight is expected to originate more than $8 billion annually.

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