Despite a Funding Snarl, Nationstar Continues to Raise Debt, Bid on Mortgage Servicing Rights
September 26, 2013
Although Nationstar Mortgage has delayed loan closings in certain production channels due to what it calls a switch in document custodians, it continues to tap the capital markets for debt and servicing advances. This week alone, the nations sixth largest residential servicer priced $225 million in senior notes, and inked a deal for a new $1 billion servicing advance facility with Wells Fargo serving as trustee and Barclays Bank as the administrative agent. The lender is actually Barclays. A spokesman for the nonbank told...