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Stock Market & Financial Investment News

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December 18, 2013
07:20 EDTNSM, NRZNationstar to sell $3.2B in servicing advances to New Residential
Nationstar Mortgage (NSM) is launching a new, capital-light servicing acquisition structure. Nationstar Mortgage LLC, a wholly-owned subsidiary, agreed to sell to New Residential (NRZ) and other investors servicing advances of $3.2B with potential for up to $6.3B. Nationstar agreed to sell the related rights to mortgage servicing rights of approximately $58B of unpaid principal balance with potential for up to $130B of UPB. These transactions enable Nationstar to unlock advance equity of $362M, with total potential of up to $681M for redeployment into high return opportunities.
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