New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 7, 2013
07:44 EDTNSM, BACNationstar to acquire approx. $215B in mortgage serviving assets from Bank of America
Nationstar Mortgage Holdings (NSM) announced that Nationstar Mortgage LLC, a wholly-owned subsidiary, has signed a definitive agreement to acquire approximately $215B in residential mortgage servicing rights, as measured by unpaid principal balance as of November 30, 2012, and certain other assets from Bank of America (BAC). Approximately 47% of the servicing portfolio, as measured by UPB, consists of loans that are owned, insured or guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae, with approximately 53% of the portfolio consisting of loans in private-label securitizations. With this transaction, Nationstar anticipates adding more than 1.3 million customers to an existing customer base of 1.2 million. Nationstarís total servicing portfolio is approximately $425 billion, pro-forma for this transaction plus an additional $13B Bank of America government servicing portfolio acquisition that closed in Q4 2012 and Nationstarís UPB as of September 30, 2012. The purchase price for the mortgage servicing rights is approximately $1.3B. In addition to the MSRs, Nationstar will also be acquiring approximately $5.8B in related servicing advance receivables as the associated portfolios are boarded during 2013. Nationstar expects to enter into third-party financing agreements to fund the servicing advances.
News For NSM;BAC From The Last 14 Days
Check below for free stories on NSM;BAC the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
August 22, 2014
07:42 EDTBACBank of America DOJ settlment removes a major overhang, says Morgan Stanley
Morgan Stanley lowered Bank of America's Q3 EPS estimate to (4c) from 34c based on the DOJ settlement and said it removes a major overhang. The firm views shares as cheap and expects the stock to rally as expenses continue to declines. Shares are Overweight rated with a $22 price target.
August 21, 2014
15:37 EDTBACBank of America reiterated as an Overweight at Morgan Stanley
Subscribe for More Information
15:25 EDTBACBank of America rallies following DOJ/State AGs settlement news
Subscribe for More Information
10:34 EDTBACOptions Update; August 21, 2014
Subscribe for More Information
09:37 EDTBACActive equity options trading on open
Subscribe for More Information
09:20 EDTBACBank of America volatility expected to move on $16.65B settlement with DOJ
Bank of America volatility is expected to move on paying a $16.65B settlement with DOJ. Overall option implied volatility of 21 is below its 26-week average of 23 according to Track Data, suggesting decreasing price movement.
09:11 EDTBACSEC says Bank of America settles two cases
Subscribe for More Information
09:09 EDTBACBofA settlement to reduce Q3 pre-tax earnings by approx. 43c per share after tax
Subscribe for More Information
09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
Subscribe for More Information
09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
Subscribe for More Information
06:43 EDTBACRegulators up bank warning efforts for poor risk assessment, Reuters says
Subscribe for More Information
August 20, 2014
18:29 EDTBACBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
Subscribe for More Information
17:12 EDTBACOn The Fly: Closing Wrap
Subscribe for More Information
14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
August 19, 2014
16:24 EDTNSMNationstar appoints Kevin Dahlstrom as Chief Marketing Officer
Nationstar Mortgage Holdings announced the hiring of Kevin Dahlstrom as Executive Vice President & Chief Marketing Officer. In this new role for the company, Dahlstrom will lead all marketing activities across the enterprise with particular focus on analytics-driven, digital and web-based strategies to broaden Nationstarís customer acquisition and retention programs to further the companyís mission to become the leading provider of real estate services.
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use