Nationstar to Acquire Auroras $63 Billion Portfolio
March 16, 2012
Nationstar Mortgage announced last week that it plans to acquire the $63.0 billion mortgage portfolio and certain other assets from Aurora Bank, a subsidiary of Lehman Brothers. The acquisition includes co-investment by a real estate investment trust affiliated with the owner of Nationstar and continues Nationstars rapid nonprime servicing growth. The high-touch servicer said it expects the long-pending sale by the bankrupt Lehman to close during the second quarter of 2012. A number of other servicers had expressed interest in bidding on the Aurora portfolio, including Ocwen Financial ...