Nationstar Signs Deal to Buy 63B in Auroras Servicing Rights

first_img Agents & Brokers Investors Lenders & Servicers Mortgage Servicing Rights Processing Service Providers 2012-03-06 Ryan Schuette New,Nationstar Signs Deal to Buy $63B in Aurora’s Servicing Rights March 6, 2012 409 Views “”Nationstar Mortgage LLC””: seized a deal Tuesday with “”Aurora Bank””:, formerly Lehman Brothers Bancorp, for a handover of $63 billion in residential mortgage servicing rights (MSRs).[IMAGE][COLUMN_BREAK]A statement ascribed about $268 million and $210 million in cash value to the MSRs and servicing advance receivables, respectively.It said that Nationstar will likely enter into about $1.45 billion of advance financing facilities to pay for the receivables.The company will amass a portfolio made up by 75 percent in non-conforming private-label securitizations and 25 percent in conforming GSE-backed mortgages.Nationstar will sell 65 percent of the rights to MSRs to Newcastle, with the former set to retain 35 percent of the excess.According to the statement, Nationstar expects to close the transaction during the second quarter this year.It quoted an _Inside Mortgage Finance_ report that rates Aurora as the nineteenth largest lender for residential mortgages in the United States.center_img in Government, Origination, Secondary Market, Servicing Sharelast_img read more