Industry Mortgage Lending Website www.nationstarmtg.com Founded 1994 | Number of employees 7,700+ CEO Jay Bray (Feb 2012–) Parent organization Fortress Investment Group | |
Key people Jay Bray (Chairman and CEO) Stock price NSM (NYSE) US$ 15.79 +0.05 (+0.32%)22 Mar, 12:01 PM GMT-4 - Disclaimer Headquarters Coppell, Texas, United States Motto We exist to keep the dream of home ownership alive. Subsidiaries Nationstar Reverse Mortgage Funding Llc Profiles | ||
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Nationstar Mortgage Holdings Inc. was founded in 1994 and is headquartered in the Dallas, Texas area. Controlled by Fortress Investment Group LLC,[1] Nationstar consists of Nationstar Mortgage, which provides servicing and originations for homeowners throughout the United States and Xome, which provides technology and data enhanced solutions to the real estate market and companies engaged in the origination and/or servicing of mortgage loans. Nationstar Mortgage has a servicing portfolio in excess of $473 billion and over 2.9 million customers and currently employs over 7,700 employees.
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History
Nationstar was founded in Denver, Colorado in 1994 as Nova Credit Corporation. In 1997, the company moved to Dallas, Texas, where homebuilder Centex Homes established Nova Credit Corporation as their in-house lender for new construction known and changed the company name to Centex Credit Corporation. In 2001, Centex Credit Corporation was merged into Centex Home Equity Company, and it operated as the subprime mortgage originator and servicer for Centex until 2005.
In 2005, Centex Homes decided to exit all of its non-core, non-homebuilding businesses, including the mortgage business. Fortress Investment Group acquired Centex Home Equity and renamed it Nationstar Mortgage in 2006.
Nationstar Mortgage Holdings, Inc. went public in March 2012 with an initial public offering on the New York Stock Exchange (NSM).
As of Dec. 31, 2016, Nationstar employed approximately 7,700 people and had become one of the largest mortgage servicers in the United States with a $473 billion UPB servicing portfolio and over 2.9 million customers.
Acquisitions
In 2013, Nationstar Mortgage purchased Greenlight Financial Services, a California consumer loan originator.
In 2014, Nationstar Mortgage acquired Real Estate Digital, a real estate services company, for $18 million in cash.
Nationstar Mortgage in November 2014 acquired Experience 1, the holding company for Title365 and technology subsidiaries X1 Labs and X1 Xpress.
Nationstar completed acquiring Champion Mortgage from Keycorp (Keybank) March 1, 2007. The acquisition included everything but the loan portfolio, which was sold to HSBC Holdings.
On June 15, 2016 it was announced that Nationstar Mortgage Holdings Inc. had been selected by Seneca Mortgage Servicing LLC ("Seneca") as the subservicer for existing and future acquisitions of mortgage servicing rights held by Seneca.
Customer satisfaction
Nationstar Mortgage LLC does not have a rating with the Better Business Bureau. "This business has no rating because it is in the process of responding to complaint(s) previously closed as unresolved." According to the BBB, Nationstar Mortgage LLC is not accredited with BBB.
FICO
In February 2015, Nationstar was recognized by President Barack Obama for making its FICO Scores available for free to its customers by the end of 2015. Nationstar partners with FICO, a "predictive analytics and decision management software company" whose "groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries."