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Nationstar Mortgage Holdings Inc's Subsidiary Announces Agreement To Acquire Mortgage Servicing Assets From Bank of America Corp

Monday, 7 Jan 2013 07:43am EST 

Nationstar Mortgage Holdings Inc announced that Nationstar Mortgage LLC, a wholly owned subsidiary, has signed a definitive agreement to acquire approximately $215 billion in residential mortgage servicing rights (MSRs), as measured by unpaid principal balance (UPB) as of November 30, 2012, and certain other assets from Bank of America. Nationstar will fund approximately $680 million of the MSR purchase price with the proceeds of a co-investment by Newcastle Investment Corp. (Newcastle) and Fortress-managed funds, similar in structure to previous transactions. Nationstar will fund $665 million portion of the MSR acquisition price with investable cash. 

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