Mr. Cooper Group
| File:Nationstar Mortgage Logo.gif | |
| Industry | Mortgage Lending |
|---|---|
| Founded | 1994 |
| Headquarters | , United States |
Key people | Jay Bray (Chairman and CEO) |
Number of employees | 7,700+ |
| Parent | Fortress Investment Group |
| Website | www |
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[3] and currently employs over 7,700 employees.[4]
History
Formed in 1994 as , Texas in 1997 and changed its name to Centex Credit Corporation. In 2001, Centex Credit Corporation merged into Centex Home Equity Company, LLC (CHECK, Now NSM). In 2006, the name was changed to Nationstar Mortgage LLC after the Initial Stockholder acquired all of its outstanding membership interests.[1]
Acquisitions
In 2013, Nationstar Mortgage purchased Greenlight Financial Services, a California consumer loan originator.[2]
In 2014, Nationstar Mortgage acquired Real Estate Digital, a real estate services company, for $18 million in cash.[3]
Nationstar Mortgage in November 2014 acquired Experience 1, the holding company for Title365 and technology subsidiaries X1 Labs and X1 Xpress.[4]
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." [5] 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."[6]
Development center
On April 20, 2016 Nationstar sets up product development centre in Chennai, India. The development centre would play a key role in the companys transformation to become the most customer-centric home loan company in the United States. "Technology and product development will play a critical role in our mission to keep the dream of homeownership alive", Nationstar President and Chief Executive Officer Jay Bray said. "The new centre represents our "long-term" commitment to creating best-in-class products that make home loan process more rewarding and less worrisome to customers," he said after formally inaugurating the centre at the DLF IT Park, Chennai, India.
References
- ^ http://www.nasdaq.com/markets/ipos/company/nationstar-mortgage-holdings-inc-855544-67149#ixzz3JdOunuUe
- ^ Cho, Hanah (3 June 2013). "Nationstar Mortgage completes purchase of California consumer loan originator". The Dallas Morning News. Retrieved 8 January 2013.
- ^ Cho, Hannah (8 May 2014). "Nationstar makes another acquisition". The Dallas Morning News. Retrieved 8 January 2016.
- ^ Swanson, Brena (21 November 2014). "Nationstar buys title company". Housingwire. Retrieved 8 January 2016.
- ^ "Nationstar Mortgage LLC Business Review in Coppell, TX". Dallas Texas BBB.
- ^ President Barack Obama Recognizes Nationstar for Helping Protect Consumers: Company acknowledged for making FICO® Scores available for free to customers (PDF), Dallas, Texas, February 17, 2015, retrieved December 24, 2016
{{citation}}: CS1 maint: location missing publisher (link)
The Hindu - http://www.thehindu.com/business/Industry/Nationstar-sets-up-software-centre/article14247784.ece
Indiatoday - http://indiatoday.intoday.in/story/nationstar-sets-up-product-development-centre-in-chennai/1/647195.html