KB Home, Nationstar Partner to Form Mortgage Company
By: Tory Barringer
One of the nation’s largest homebuilders is partnering up with one of the fastest growing mortgage holding companies to create a new entity.
In a joint announcement, KB Home and Nationstar Mortgage LLC announced an agreement to form Home Community Mortgage, LLC, a limited liability company offering a range of mortgage banking services to KB Home customers.
As KB Home’s preferred lender, Nationstar has served homebuyers on-site in the builder’s communities across the country.
According to the announcement, Nationstar will remain KB Home’s preferred choice until Home Community Mortgage’s launch, which is scheduled for the latter half of 2013.
“Creating Home Community Mortgage with Nationstar is the natural progression of our successful alliance,” said Jeffrey Mezger, president and CEO of the Los Angeles-based KB Home. “As our relationship with Nationstar has evolved, we have been very pleased with the alignment of the values of our two companies, particularly our shared focus on achieving world-class customer service.”
The new company represents another step in growth for the Texas-based Nationstar, which announced earlier in the month an agreement to acquire approximately $215 billion in servicing rights from Bank of America. The firm currently stands as one of the largest non-bank mortgage servicers in the country with a portfolio of approximately $425 billion and more than 2.5 million customers.
“We are excited to partner with KB Home to form Home Community Mortgage to support home buyers in the largest purchase decision of their lives,” said Nationstar Mortgage CEO Jay Bray. “This partnership showcases our ability to deliver creative solutions to one of the nation’s premier homebuilders and our commitment to enhancing the home buying experience by providing accessible financing options to home buyers.”
Since its launch, DS News magazine has positioned itself at the forefront of an
evolving industry. Always current with the most up-to-date
default servicing news, DSNews.com keeps you informed through daily Web casts,
community forums, and a wide range of industry resources.