Tag Archives: Nationstar

While mortgage origination volumes looked different last year compared to 2012, the list of top lenders looked very much the same. In full-year originations, Wells Fargo held on to its top spot, generating approximately $351 billion in loans—about 19 percent of last year’s total volume, according to Mortgage Daily. JPMorgan Chase followed up at No. 2 at $168 billion.

A regulator who recently took actions to curb growth at Ocwen has now turned his eye to Nationstar. In a letter addressed to the company, Benjamin Lawsky, superintendent of New York's Department of Financial Services, said his agency has concerns "that the explosive growth at Nationstart and other nonbank mortgage servicers may create capacity issues that put homeowners at risk."

Three special servicers—Nationstar, Ocwen, and Walter Investment Corp.—released their fourth-quarter and year-end earnings reports with revenue increases and increasingly active originations sectors. At least one group of analysts suggests special servicers might “become the next generation of non-prime originators,” according to a report earlier this year from Moody’s.

As part of our look back on 2013, theMReport.com reviewed some of the biggest wheelers and dealers in the MSR world over the last year.

Stonegate Mortgage Corporation, a non-bank mortgage firm focused on origination, financing, and servicing, announced the acquisition of the wholesale lending channel and certain distributed retail assets of Nationstar Mortgage Holdings.

After releasing a mortgage origination forecast of $349 billion for the third quarter earlier this week, FBR Capital Markets revised its estimate to between $400 billion and $420 billion for the quarter Wednesday. FBR anticipates a rise in refinances under the Home Affordable Refinance Program (HARP) as small specialty servicing shops are "still playing catch-up" from the recent boom. Meanwhile, larger players are relinquishing some of their market share, according to analysts at the investment bank.

Investment bank FBR's third-quarter mortgage originations estimate is $349 billion, a 29 percent decline over the quarter. The abating refinance market is a major drag on the mortgage industry, and, "[w]e do not believe that there will be a strong enough increase in the purchase market this quarter to offset the loss in refi volume," FBR stated. FBR estimates a 46 percent decline in refinances in the third quarter and a 2 percent rise in purchase originations.

Nationstar Mortgage announced it is revising losses on loans with principal forbearances acquired in 2012 from Aurora Bank FSB and Aurora Loan Services.

Estimated Q1 originations by all U.S. lenders came out to about $505 billion, according to Mortgage Daily.

A major investor in residential mortgage-backed security trusts filed a complaint against Nationstar over its selling of non-performing loans backing securities.