Nationstar Mortgage Nationstar Mortgage is headquartered in Dallas, Texas area and was founded in 1994. As of March 31, 2017, it has over 3 million customers. Nationstar Mortgage provides the best quality servicing and origination for homeowners throughout the United States. It is a recognized leader in the mortgage industry with the experience approximately over two decades. Nationstar Mortgage has the offices amount ninety offices which all over the United States of America (USA). How about Nationstar Mortgage acquisitions? Let’s we learn about that.
Nationstar Mortgage 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. RED (Real Estate Digital) based in Aliso Viejo, California. It provides data, online marketing, transaction management and digital media solutions to the agents, brokers, and lenders. The aim of this acquisition represents the latest move by Nationstar to diversify its product offerings and its revenue. Nationstar Mortgage provides loan servicing and direct-to-consumer mortgages. Nationstar Mortgage is one of the largest servicers in the United States with the residential mortgage servicing portfolio of over $473 billion in unpaid principal balance.
Nationstar Mortgage made other Nationstar Mortgage acquisitions in 2014 of November. Nationstar acquired Experience 1, the holding company for Title365 and technology subsidiaries X1 Labs and X1 Xpress. It completed buying Champion Mortgage from KeyCorp (Keybank) March 1, 2007. Then on June 15, 2016, Nationstart made other acquisition. Nationstar acquired Nationstar Mortgage Holdings Inc. Seneca Mortgage Servicing had selected it.
There is Nationstar Hecm acquisition trust. How about Nationstar Hecm acquisition trust? HECM is the Federal Housing Administration’s or FHA reverse mortgage program that enables the customers to withdraw some of the equity in their home. HECM stands for Home Equity Conversion Mortgage. The customers can choose how they want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both. Nationstar Hecm acquisition trust is reverse mortgages which are increasing in popularity with seniors who have equity in their homes and want to supplement their income. It is only available through an FHA approved lender. A reverse mortgage insured by the United States Federal Government is called HECM or Home Equity Conversion Mortgage.
How do you qualify for Nationstar Hecm acquisition trust? To be eligible for Nationstar Hecm acquisition trust or a reverse mortgage loan, the youngest homeowner should live in the home as their primary residence and have sufficient home equity. Then the youngest homeowner must be at least 62 years old. The borrowers also have to meet financial eligibility criteria as established by HUD. Money is advanced against the value of a home. Interest accrues on the outstanding loan balance. There are no payments should be made until a home is sold or the borrower die, at which point the mortgage should be repaid entirely. No credit check is made to the borrower because the home secures the mortgage.