Profile: Nationstar Mortgage Holdings Inc (NSM.N)
28 Apr 2017
Nationstar Mortgage Holdings Inc., incorporated on May 9, 2011, provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company provides residential loan services in the United States. The Company also operates an integrated residential loan origination platform that is primarily focused on customer retention. Its Xome subsidiary offers an array of complementary services related to the purchase and disposition of residential real estate.
The Company provides non-bank services and residential mortgage services in the United States conducting operations through its Nationstar Mortgage and Champion Mortgage brands. The Company's loans are serviced for government sponsored entities (GSE), followed by Ginnie Mae and private-label investors in mortgage securitization transactions. Its serviced portfolio includes both conventional residential mortgage loans and home equity conversion loans, referred to as forward and reverse loans, respectively. Although the Company owns the mortgage servicing rights for these loans, it also acts as servicer on certain portfolios and sub-servicer on certain portfolios, for which the servicing rights are owned by a third party. With respect to servicing activities for owned mortgage servicing rights (MSRs), it is responsible for the collection and recording of mortgage payments, the administration of mortgage escrow accounts, negotiations of workouts and modifications and, if necessary, conducting or managing the foreclosure (real estate owned or REO) on behalf of investors or other servicers. The Company's reverse portfolio includes loans under Ginnie Mae, Fannie Mae and private-label securitizations as well as unsecuritized reverse loans.
The Company originates and purchases conventional mortgage loans conforming to the underwriting standards of the GSEs, which it collectively refers to as Agency loans. It also originates and purchases government-insured mortgage loans, which are insured by the Federal Housing Administration (FHA) or Department of Veterans Affairs (VA). It sells originated mortgage loans to secondary market investors, which include a range of institutional investors, and generally retains the servicing rights on mortgage loans sold. The Company originates loans directly with borrowers through its direct-to-consumer channel. It purchases closed mortgage loans from community banks, credit unions, mortgage brokers and mortgage bankers.
The Xome segment is a provider of technology and data-enhanced solutions to home buyers, home sellers, real estate professionals and companies engaged in the origination and/or servicing of mortgage loans. As of December 31, 2016, Xome provided services to money center banks with various services, including title and close, appraisal, and technology solutions. Xome's operations comprise Exchange, Services and Technology and Support. Exchange is a national technology-enabled platform that manages and sells residential properties through its Xome.com platform. Services connects the touch points of the real estate transactions process by providing title, escrow and collateral valuation services for purchase, refinance and default transactions.
Technology and Support includes the Company's software as a service (SaaS) platform providing integrated technology, media and data solutions to real estate franchisors, brokerages, agents and multiple listing service (MLS) organizations and associations. Technology and Support contains a set of businesses, including Real Estate Digital (MLS data and broker tools), Quantarium (data analytics), Go Paperless (e-signature platform), Xome Signings (notary services) and Xome Labs (product/technology development incubation lab).
The Company competes with Wells Fargo Home Mortgage, Chase Home Finance, Bank of America, Freedom Mortgage, Ocwen Financial Corporation, PHH Corporation, Walter Investment Management and PennyMac Financial Services.
Nationstar Mortgage Holdings Inc
8950 Cypress Waters Boulevard
COPPELL TX 75019