Nationstar Mortgage Closes on Purchase of MSR of Approximately $97B from Bank of America

Nationstar Mortgage Holdings Inc. NSM (“Nationstar”), a leading residential mortgage services company, announced today that it has closed the purchase of mortgage servicing rights (“MSR”) with an approximate $97 billion unpaid principal balance (“UPB”), based on December 31, 2012 closing balances and certain other assets from Bank of America. The transaction was completed pursuant to the previously announced MSR purchase and sale agreement, dated January 6, 2013. This servicing portfolio consists of rights to service loans that are owned, insured or guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. “We are glad to have completed this important milestone in the acquisition according to schedule,” said Nationstar CEO Jay Bray. “We look forward to See full press release