Mr. Cooper Group
 | A major contributor to this article appears to have a close connection with its subject. (March 2017) |
 | |
| Formerly | WMIH Corp. (2015–2018) |
|---|---|
| Company type | Public |
| Industry | Mortgage Lending |
| Founded | 1994 |
| Headquarters | , U.S. |
Key people | Jay Bray (Chairman and CEO) |
| Revenue | US$2.01 billion (2019) |
| Owner | Mr Cooper Group |
Number of employees | 9,100 (2019) |
| Website | mrcooper |
Mr. Cooper, formerly Nationstar Mortgage Holdings Inc. was founded in 1994 and is headquartered in the Dallas, Texas, area. Nationstar Holdings consists of Nationstar Mortgage, which provides servicing and originations for homeowners throughout the United States, and Xome, which provides technology and data enhanced solutions[buzzword] to the real estate market and companies engaged in the origination and/or servicing of mortgage loans. As of June 30, 2017, Nationstar employed approximately 7,000 people and is one of the largest mortgage servicers in the United States with a servicing portfolio of approximately $500 billion and more than 3 million customers.[1]
In August 2017, Nationstar began doing business as Mr. Cooper.[2]
History
Nationstar was founded in Denver, Colorado in 1994 as Nova Credit Corporation. In 1997, the company moved to Dallas, Texas, where home-builder Centex Homes established Nova Credit Corporation as their in-house lender for new construction 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-home-building businesses, including the mortgage business. Fortress Investment Group acquired Centex Home Equity and renamed it Nationstar Mortgage in 2006.[citation needed]
Nationstar Mortgage Holdings, Inc. went public in March 2012 with an initial public offering on the New York Stock Exchange (NSM).[3]
As of June 30, 2017, Nationstar employed approximately 7,000 people and is one of the largest mortgage services in the United States with a servicing portfolio of approximately $500 billion and more than 3 million customers.[4]
In August 2017, Nationstar was re branded as Mr. Cooper.[5]
In 2018, Nationstar paid out millions of dollars in settlements in New York and California due to various violations of state banking laws.[6]
Acquisitions
In 2013, Nationstar Mortgage purchased Green light Financial Services, a California consumer loan originator.[7]
In 2014, Nationstar Mortgage acquired Real Estate Digital, a real estate services company, for $18 million in cash.[8]
Nationstar Mortgage in November 2014 acquired Experience 1, the holding company for Title365 and technology subsidiaries X1 Labs and X1 Xpress.[9]
References
- ^ https://www.housingwire.com/articles/40914-nationstar-posts-net-loss-of-20-million-but-the-news-is-better-than-it-seems
- ^ https://www.housingwire.com/articles/40016-its-official-nationstar-will-become-mr-cooper-in-august-2017
- ^ http://www.nasdaq.com/markets/ipos/company/nationstar-mortgage-holdings-inc-855544-67149#ixzz3JdOunuUe
- ^ https://www.housingwire.com/articles/40914-nationstar-posts-net-loss-of-20-million-but-the-news-is-better-than-it-seems
- ^ http://www.dsnews.com/daily-dose/05-02-2017/nationstar-mortgage-officially-become-mr-cooper
- ^ https://www.housingwire.com/articles/43080-nationstar-aka-mr-cooper-reaches-17-million-mortgage-settlement-with-nydfs
- ^ 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.