KB Home, Nationstar Mortgage to Form Mortgage Company

KB Home (NYSE: KBH), one of the nation's largest and most recognizedhomebuilders, today announced that it has entered into an agreement withNationstar Mortgage LLC, its current preferred mortgage lender and theprincipal operating subsidiary of Nationstar Mortgage Holdings Inc. (NYSE: NSM), to form Home Community Mortgage, LLC, a limited liability company thatwill offer an array of mortgage banking services to KB Home customers.“Creating Home Community Mortgage with Nationstar is the natural progressionof our successful alliance,” said Jeffrey Mezger, president and chiefexecutive officer of KB Home. “As our relationship with Nationstar hasevolved, we have been very pleased with the alignment of the values of our twocompanies, particularly on our shared focus on achieving world-class customerservice. A quality, predictable mortgage process is an essential element ofour Built to Order™ business model, and Nationstar's performance as KB Home'spreferred mortgage lender has already resulted in more consistent execution.”